Anyone having issues using buying power?

Last post 05-17-2008 8:06 PM by mberger47. 9 replies.
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  • 05-16-2008 1:29 PM

    Anyone having issues using buying power?

    says I have $82k in buying power but it wont let me place a trade says I only can use $6k??

  • 05-16-2008 2:09 PM In reply to

    Re: Anyone having issues using buying power?

    Haven't had one of these issues, but I would report it to WSS. 

  • 05-16-2008 5:36 PM In reply to

    Re: Anyone having issues using buying power?

    Derricka:

    Haven't had one of these issues, but I would report it to WSS. 

     

    I did no reply but it started working again after I had sold 1 stock, was weird had no cash but had plenty of buying power

  • 05-16-2008 6:23 PM In reply to

    Re: Anyone having issues using buying power?

    Yah i had the same thing but i think its fixed now but for me its ok i couldnt buy another stock and lose on it lol

  • 05-16-2008 6:48 PM In reply to

    Re: Anyone having issues using buying power?

    lol

  • 05-16-2008 7:31 PM In reply to

    Re: Anyone having issues using buying power?

    I'm not sure if they have the $5 margin rule in here or not, but I think they might.

    They do this on real margin accounts ... it may be $3 now ... used to not be able to short less than $5 stocks.

    So if you own a stock that's worth less than $5 you can't use it's value for margin buys.

    Even though the display shows you have it in buying power.

    I had something like this happen to me once, but once I sold the stock that was around $1

    I had full use of all my buying power back.

  • 05-16-2008 7:52 PM In reply to

    Re: Anyone having issues using buying power?

    YES  I have had a similiar problem. I  can only buy a little over $100000 but all my stocks are under $4 with one a short so not sure what the problem is. I have emailed WSS but await a reply. 

  • 05-17-2008 12:46 AM In reply to

    Re: Anyone having issues using buying power?

    I always run out of buying power .
  • 05-17-2008 2:05 PM In reply to

    Re: Anyone having issues using buying power?

     I get this bug from time to time.  Simply log out and log in again to fix the problem!

  • 05-17-2008 8:06 PM In reply to

    Re: Anyone having issues using buying power?

     Yes, the rule is you can't short any stock on margin (loan) with a price less than $3.00

     See Rule #7 here:  http://www.wallstreetsurvivor.com/Public/Content/Rules.aspx

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