T+3?

[MistakesWereMade]

I've read several sites and I am confused how this T+3 rule applies..

Does it apply to Canadian brokers? I emailed VB asking them to clarify this for me and they told me the settlement date for 3 days is for exchange purposes. (???)

Do I've to wait for this settlement date when I sell stocks or can I just ignore this rule? I honestly cannot tell from the VB response....

It'll suck if need to wait 3 day's before I can trade again , every single time!

 

[A Dashing Blade]

Settlement data = the day by which the transaction has to be "settled" ie one party pays the other the required amount of money and takes legal ownership of the financial instrument.

the "T" part =Today, the "+3" part = number of business days to settlement day.

 

[MistakesWereMade]

Settlement data = the day by which the transaction has to be "settled" ie one party pays the other the required amount of money and takes legal ownership of the financial instrument.

the "T" part =Today, the "+3" part = number of business days to settlement day.

That didn't tell me anything I didn't know already...

 

[Martinghoul]

Ask your broker the specific question to which you're trying to find an answer.

 

[MistakesWereMade]

Ask your broker the specific question to which you're trying to find an answer.

I just wanna know if it's gonna affect my daytrading...

 

[Mr. Charts]

I just wanna know if it's gonna affect my daytrading...

It shouldn't provided you are within US PDT rules if you are trading US stocks.
As for Canadian stocks, I don't know. I only trade Canadian stocks like CSIQ on the US market.

You could try ringing your broker as Martinghoul says.