Can’t trade after turning on margin
Here’s a summary of the main problem and the solutions discussed:
- Main Problem: The user, eli, is unable to trade after enabling margin, as their buying power (BP) shows $0 across all accounts, despite having funds available in their cash account.
- Solution 1: Customer support suggested clicking on “cash order” instead of “type margin,” which allowed the user to place a trade successfully on the mobile app.
- Solution 2: Fidelity representative advised the user to change the trade ticket style in the mobile app by going to the “Profile” icon and selecting between “Single screen” and “multi-screen” options.
- Solution 3: Several factors affecting margin buying power were mentioned, including minimum equity requirements and the status of recent deposits, prompting the user to contact customer service for personalized assistance.
Here’s the full thread
I can’t trade after turning on margin monday morning and my BP just shows $0 for all even though it shows how much i have in spaxx. I see it reclassified the assets with the M symbol, but it said after I turned on margin on “Tomorrow: Trades will start being places in type margin”. Today was that tomorrow and haven’t been able to place trades since it shows a BP of $0 across the whole available to trade section. Is it more than just 2 days to begin trading again?
Hi, @eli..
Please give us a call so that we can look into this with you. Representatives are available 24/7 and can be contacted through the link below.
Contact Us: https://www.fidelity.com/customer-service/contact-us 🟢
Hi again, they helped out a bit by informing me to click cash order instead of under type margin. Which I was successfully able to do but on the mobile app… it seems there is now no way to change it to a cash order
Hi there, @eli. The mobile app offers different styles of trade tickets, so you may need to make a change. Please go to the “Profile” icon at the top right of the Home page, then tap “Trade experience” to choose between “Single screen” and “multi-screen.” 🟢
Thank you shawn for leading me to that screen I see where it shows the order type between cash and margin, only issue is on mobile app I can only enter a full share amount and not a dollar specific order like on the website.
On top of that I still see Margin BP of $0.00 and Non-Margin BP $0.00, even though it says I have funds under cash & credits and the available to withdraw section
When I contacted customer support yesterday they didn’t really mention anything why it says cash BP $0.00 but just said I had $# amount of cash BP
Thanks for following up with us, @eli..
Ultimately, there can be various factors that impact margin buying power. These can include not having the required minimum equity, recent deposits that are not applied until collected, or securities with a 100% margin requirement.
Since we are unable to review account-specific information here, please get in touch with our Customer Service team so they can review your account further with you. Associates are available 24/7 and will be happy to take a closer look.
Contact Us: https://www.fidelity.com/customer-service/contact-us
Thank you for turning to our Discord for help. We look forward to assisting you further. 🟢