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Non-Tech : Webstreet Online Broker (www.webstreet.com)
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To: kaz who wrote (105)12/7/1999 2:15:00 PM
From: Garry R.  Read Replies (1) of 114
 
Kaz,

Thanks for your input.

Webstreet has told me that I can't daytrade penny's with my
cash account...SEC rules so they say. I was told to trade
using my margin account, but of course penny's are marginable.
So I was told to contact the margin department and they will
correct that. Well, they took 2 days (and a email chaser) to
get back to me, the person I am talking to has no clue and
he is rude.

I am aware of the buy/sell stock rule(thought that applied to
margin only though)...but cannot find any rules on daytrading
in your cash account. Been searching the SEC website but thats
impossible.

Anyways, thanks again for your help. Geuss I will have to keep
digging.

Garry
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