Short investing question from a newbie
Join Date: Apr 2014
Posts: 1
Hello,
I am 17 years old and I just got into investing.
My problem is the following:
I want to be a daily investor. I will be selling and buying stocks in an hourly time. But Paypal won't let me use my money until 30 days pass. That is way too long! I need to make sure I can use the money I receive instantly.
How can I solve this problem? Can somebody experienced in investing tell me what to do?
Am I missing something?
Please help me, because I am really unexperienced about this.
Thanks!
Join Date: Sep 2007
Posts: 4,113
I assume you don't live in the US so it might be best that you contact whatever brokerage you're using with any questions you may have (can't believe there are legitimate brokerages that even accept paypal...wtf?)
Join Date: Dec 2005
Posts: 33,815
Yeah, I've never heard of any U.S. brokerage that would take Paypal.
BUT, if a brokerage operated the way many U.S. ones do, you would ask for checkwriting priveleges off youer brokerage account. Then you get a checkbook just like with a bank account and just write a check when you want money. When the check clears, the money is just deducted from your brokerage account. Assuming you have cash in the account to cover the check amount, of course.
