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Cash and Margin Settings produce same result 		Last Activity 5/11/2023 2:59 AM
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John W

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Subject : Cash and Margin Settings produce same result
Posted : 7/5/2017 10:41 AM
Post #36776
Barry, when selecting account settings > exposure > account type there is choice between setting up as a cash account or margin account.

I believe this was to allow for the 3 day settlement rule if cash was selected?

However there doesn't appear to be any difference in how the account simulates results, and yet there should be a difference in the simulated result given the 3 day rule?

I'm also wondering if trades would be placed properly in my cash account which has no margin attached and the broker tells me that trades settle in 3 days? John

[Edited by John W on 7/8/2017 11:21 AM]

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John W

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Subject : RE: Cash and Margin Settings produce same result
Posted : 7/20/2017 4:36 PM
Post #36822 - In reply to #36776
Barry, I've got a margin account with MB (costly commissions) and a cash account with IB (cheap commissions). Whichever account I choose I'm limited to 100% Max % of Equity due to government constraints.

Theoretically a margin account with lots of trades allowing immediate settlement should outperform a cash account with 3 day settlement but the commission differences between MB and IB are significant and perhaps the IB account would outperform the MB account even with less cleared funds in play due to the 3 day rule.

I can't reasonably choose which broker to use with 100% Max % of Equity because the cash account and margin account simulated results don't differ if I select either "cash account" or " margin account".

I'm stuck at a crossroads!

Also could you please let me know if the 3 day settlement rule works correctly in live trading if the "cash account" alternative is selected.
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Barry Cohen

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Subject : RE: Cash and Margin Settings produce same result
Posted : 7/20/2017 4:50 PM
Post #36823 - In reply to #36822
The 3 day settlement setting was removed a while back since it was not working correctly. So currently there is no 3 day settlement in OmniVest. I would recommend not using 100% for the Max % of Equity in this case & instead use 90-95%.
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John W

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Subject : RE: Cash and Margin Settings produce same result
Posted : 7/20/2017 5:01 PM
Post #36824 - In reply to #36823
Sure I can do the 90-95 workaround but it still doesn't help me with the simulation decision making.

Nirvana can do the most amazing things yet a bread and butter issue is too hard!

It's not quality.

Am I the only cash account user, is that the issue?

[Edited by John W on 7/20/2017 5:03 PM]

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