Cash accounts follow the T+1 settlement rule, which means once securities are sold, it takes 1 business day for the sale proceeds to be settled.
You are able to open new positions with unsettled funds; however, if the security is sold prior to the fund’s settlement, a Good Faith Violation will be triggered.
Still got questions? Contact TradeUP Customer Support by email at support@tradeup.com or reach out to us on Live Chat!