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/biz/ - Business & Finance

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20013945 No.20013945 [Reply] [Original]

I made a robinhood gold account on Friday. Deposited 5k. Turned on margin trades. Now says i have 10k in buying power.
I went to buy stocks on Monday and i'm only allowed to buy 5k worth of stocks? What am i missing here? Can you use margin on a pending bank account deposit?

>> No.20013973

>>20013945
but thats only $1000

>> No.20014305

>>20013973
thanks i didn't know

>> No.20014326

>>20013945
You invested in highly volatile stocks which are weighed differently, thus effectively lowering your margin.

>> No.20014352

>>20013945
Purchasing power, also there is usually some kind of time requirement before you can use assets to collateralize your trades. For example, I don't think you can use mutual funds to increase buying power until you've owned them for 30 days. You also can't purchase MFs on margin

>> No.20014614

>>20014326
Not my case. i chose companies with low volatility rating. all 5000 should have been available

>>20014352
it's a bank deposit, so it would take multiple days for it process. however buying robin hood gold would have allowed instant access to any funds deposited.