Schwab has me locked up and won't let me buy DWAC (now at $70) - The Great Awakening

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Schwab has me locked up and won't let me buy DWAC (now at $70)

posted 3 years ago by Shark_FL 3 years ago by Shark_FL +27 / -0

I deposited $5,000 yesterday morning when the stock was at $14. I waited all day for the balance to show in my account. IT NEVER DID. The stock closed at $45.

This morning, the $5,000 is showing in my account. Now DWAC is at $72. I'm still ready to BUY BUY BUY.

But when I try to place a trade, it says: This order cannot be accepted because there are not enough cleared funds in this account to cover the requirement for first time trades. Trades may also be subject to share size and principal restrictions. Please consider reducing the size of your trade, or call a Charles Schwab representative at 800-435-4000 if you would like assistance with this trade. (CR315)

I can't even buy a single share without getting this message. Stock frens, is this normal?

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– FreeSpeechAnon 3 points 3 years ago +4 / -1

Yes, nornal. No platform will allow you to open an account and buy same day. Your funds haven't even cleared yet.

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– 1sketchyv 1 point 3 years ago +1 / -0

Not entirely true. If you have a margin account your funds are available the minute you deposit them.

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