is margin the only way to jave an account with momoo?
is margin the only way to jave an account with momoo?
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MadGuineaPig : you can just treat it as a cash account. don't use the margin. just the cash you put in. the margin is offered after 2000 deposit but I dont use it out of caution.
Cefm98 MadGuineaPig : I left my funds settle but day trades are still falling
do not margin
MadGuineaPig Cefm98 : yes. you have three day trades unless you have 25k or over.
101546367 MadGuineaPig : Sorry what’s the 3 day trade thing?
MadGuineaPig 101546367 : the stock exchange only allows you 3 day trades in any 7 day period. if you go over 3 day trades a week they will stop you from buying new shares for a 3 or 4 month period. unless you have 25,000 in your account then you can trade as many day trades as you wish.
101546367 MadGuineaPig : Thanks for explaining!