How long to set up an account and trade
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Since I'm planning on using a b/d out of state how long should I expect if someone comes into my office fills out an account form and wants to buy a stock. Do I have to wait until the b/d recieves the paperwork and has a managing principal sign off on it or am I able to put the order in within an hour?
Thanks, BILOLet’s skip the small stuff… do you have an attorney lined up to defend your multiple future arbitrations?
Morphius at least you attempting some humor in a wierd creepy kind of way.
The reason I ask is because I worked for a wirehouse where I open the acct, put the trade in 1 minute. The MP would sign off later in the day. Now I fill ouw the very cumbersome paperwork, mail it to my broker dealer where they then fax it to the trading platform and they I'm able to do the trade hoping the prices don't climb too high. Fun funYeah, remember all that homework and due diligence that all us mean, weird people were telling you to do? That’s most effective when done BEFORE making a move, not after.
It’s really hard to turn your head away from a slow motion train wreck as it unfolds right before your eyes.
You guys are idiots. What the hell are you guys talking about. The answer is depending on your b/d you can legally do a trade right after you open the account.
Ouch. More painful name calling from Boy Genius.
I hope you thank yourself for answering your own question. That’s progress!
Dude, that is so weak. I wonder how many id's you have on here. You are such a nerd! When I asked the question why not just give me the answer that I found out 8 hours later. Answers on this site aren't exclusive to this site. It is nice to think you can go to a place and know your talking to people that are in your shoes and might give you some insight. The answers I got were stupid.
[quote=BiLo]You guys are idiots. What the hell are you guys talking about. The answer is depending on your b/d you can legally do a trade right after you open the account.[/quote]
Your reply is not completely correct. As I recall the BD is responsible for all trades placed by a broker. So they have to check if the trade “fits” the client’s profile and to make sure you did not hit the wrong number. They must to this with every trade. Most firms have automated this process where the trades are routed to the home office for approval. The custodians have also automated this process. I know they charge per termial for this service, which may be your problem.
There is nothing wrong with what the firm is doing. It is there process and that is the way they work.
Good Luck.
ash
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[quote=BiLo]
Dude, that is so weak. I wonder how many id's you have on here. You are such a nerd! When I asked the question why not just give me the answer that I found out 8 hours later. Answers on this site aren't exclusive to this site. It is nice to think you can go to a place and know your talking to people that are in your shoes and might give you some insight. The answers I got were stupid.
[/quote] I said send him a PM. Keep the internet beatdown private. Just trying to help.