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SteveL

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Joined: 10/11/2012
Location: Boulder, CO

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Subject : RE: Account Settings and Elite Portfolios
Posted : 7/5/2017 11:39 AM
Post #36777 - In reply to #36773

For a long time, I also didn't appreciate the difference between the Margin and Cash settings on an IRA account. But a few weeks ago, I happened to notice that one of my IRA accounts had a pending trade that another didn't.
Upon investigation, I found that the account with the missing trade was configured as a "Cash Account", and the other as a "Margin Account". Both accounts were fully invested, and each had a pending closing trade which would free up funds in each account. OmniVest requires AVAILABLE FUNDS to place a trade in an "Cash Account". Since the closing trade had not yet happened, the funds were not available. That constraint does not apply to a "Margin Account". I changed the setting on the "Cash Account" to a "Margin Account", and the pending trade appeared.
Deleting message 36777 : RE: Account Settings and Elite Portfolios


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