Cash accounts follow the T+1 settlement rule, which means once securities are sold, it takes one 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, the Good-Faith violation will be triggered, which will only allow you to open positions with settled funds for the next 90 days.
Still got questions? Contact TradeUP Customer Support by email at support@tradeup.com or reach out to us on Live Chat!