Newbie with a question. When I buy stock are the purchasing...
Newbie with a question. When I buy stock are the purchasing funds deducted from my sweep account imediatley, or at some later time. In my case funds aren’t being deducted imediatley.
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Moomoo Lily : @Moomoo Buddy Please help assist it.
Moomoo Buddy : Dear client, participating in the Cash Sweep program, the funds deposited in the bank will still be considered as the purchasing power of the securities account. When the cash purchasing power of the securities account is negative, the idle cash will be automatically redeemed from the bank(s) to the securities account before the transactions are settled to avoid the payment of financing interest. Hope it helps. Have a good one!