There is no SEC rule, for cash accounts, that says you can't buy stock with unsettled cash. The only thing the SEC prohibits is the following - you sell stock A in a cash account. You buy stock B with the unsettled cash. You sell stock B before the end of the settlement period.I never had to deal with this.Perhaps because I never wanted to sell a stock less than three days after buying it. Since I am not a day trader, why would I buy a stock I intended to keep less than three days?
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