Let us know in case anything is confusing. Either someone from the Vested team or a community member will get back with help.
I had a query regarding the Buying Power and Unsettled cash and the actual cash available shown in the Transfer Menu.
So, yesterday I sold “X” share and got say USD 1K. Now, my buying power is showing “0” and my unsettled cash is showing USD 1K and my transfer menu amount is also $ 1K.
Now, I just for the heck of it tried to buy “Y” share for USD 500. The purchase went through and now my buying power is still being shown at USD 0, my unsettled cash is still USD 1K but my transfer menu cash is down to USD 500.
Thinking, that I can use the remaining unsettled cash to buy another share say, share “Z” I executed another buy for the same for USD 500. Now, this purchase didn’t go through and I immediately got an email saying the sale was rejected due to Insufficient funds.
Note that my buying power has been USD 0 all throughout as mentioned above.
My query is this, what exactly is the settlement procedure (I know about T+2) here at Vested. Can you buy stocks with the money from the shares you sold that very day itself or is the same not possible. If it is possible why didn’t my 2nd buy order go through and if it is not possible then why did my 1st order go through.
(This is a real situation that just happened yesterday with me!!)
Hey, apologies to reply so late; I’ve messaged you with further steps to resolve the issue. Thanks!