Can i short sell a stock through my brokerage account with usaa bank?
If i cant what do i need to do to be able to short sell stocks.
- A nobodyLv 76 years agoFavorite Answer
YES USAA is a self clearing brokerage firm that offers full srvices for their clients BUT you will need their perrmission to sell short.and of course you can not short penny stocks.
DAVID - When a person sell short, THEY DO NOT HAVE TO BORROW THE STOCK, it is the brokerage firms esponsibility to borrow the stock since they need the stock to cover the fail to deliver and not the customer, and when they cover their short THEY DO NOT have to return the stock, the brokerage firm must return the stock. The stock loan/borrow agreement is signed by the brokerage firm not the customer, and the loan/borrow is recorded on the books of the firm and IS NOT posted to their account.
Becareful, you give out bad information on many of your responsesSource(s): from the street
- RenaeLv 44 years ago
You can have a ROTH IRA in a Brokerage Account. A regular Brokerage Account is taxable in the year you sell a stock. A IRA ROTH Brokerage Account..... there are no taxable events.... ever. Best to use for money you won't need until you retire... or after you retire.
- 4 years ago
With penny stocks you can make 30 percent or 40 percent profit in a few days. Learn here https://tr.im/learnpennystock
The best strategy, if you do have experience type of return on a penny stock, is to sell the stock quickly.
Of course, it’s easier said than done. The natural thing to want when you see an increase in stock price is to hold the stock and hope for an even larger increase.
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- Auntie MameLv 76 years ago
You'll need enough cash or other stocks in your account to cover the value stock that you are selling short.
- Howard LLv 76 years ago
You must have some minimum amount of money in the account to short stocks. The bank doesn't want you walking away and leaving them holding the bag if you lose. The amount you'll need on deposit will depend on the size of your trade.,
- DavidLv 56 years ago
Contact usaa or look on their web site. Short sales, trading options, and margin accounts need special agreements signed acknowledging you understand the risks. Basically to short a stock you have to first borrow and sell it, then later buy it back on the market to replace. That's like taking a loan and the borrower is risking that you will be able to buy and replace the stock in the future - for a fee of course.
- 3 years ago
I am waiting for more answers before I post my view