Steve2 Elite    Posts: 750 Joined: 10/11/2012 Location: Annapolis, MD  User Profile | Jim, for IB IRA margin accounts, the Reg T 3-day IRA rule does not apply the way you've indicated. The 3-day settlement period only applies to when you can withdraw funds from your account. Because IB lets you trade an IRA margin account with unsettled funds, the rule is "Cash proceeds from unsettled sales are available for trading as long as the subsequent purchase order does not settle prior to the sale order" Thus, you can flip things as often as you want but if you're fully leveraged, you need to ensure that the closing order completes execution before submitting an opening order. I called IB and confirmed that this is the way it works (assuming the person on the phone knew what they were talking about). Steve | |
