Cash Account on Moo Moo
Is it true Moo Moo does not have cash accounts? My shares are showing in a margin account. Do any of you have a cash account on here?
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Emotionless : No its all margin.
AlphaWolf01 : It is cash so long as you use own money and not leverage or borrowed.
MindOverMatter : I have a cash account only I don't use margin I wrote them once asking about this same situation.Told me nope no margin.
Thoth Industries : You are only on margin until the funds settle. The "instant buying power" is what they consider the margin. once the funds settle into the account, the margin is lifted and it is a cash account.
Thoth Industries : If you don't buy anything before the funds settle you will never be on margin.
71692573 OP Thoth Industries : unfortunately, I bought every time while the funds were settling. but all of my shares are long-since settled. do you know if they will switch my shares to a cash account? if not, I'll have to transfer them out.
71692573 OP Thoth Industries : I have been buying shares for 2 years. last purchases were in April. ALL of my shares are in a margin account. they never switched to cash.
Thoth Industries : I wouldn't worry too much about it. I have bought every time, as well. I haven't any concerns. You do what you think is best for you, but that transfer out may take longer than expected right now, and you could miss it. FYI
Thoth Industries : hope this helps ease some anxieties.
71692573 OP Thoth Industries : Awesome. Thanks. Do you know if anyone has received confirmation that Moo Moo will be processing APE as a dividend and not as cash?
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