Even if so wouldn't they have to give you back something of equivalent value at the end of the day?
Doesn't look like it tbh. They'll force sales on you and if the account ends up low, you'll be on the hook for the rest of the margin you owe.
every brokerage has the same policy for margin accounts
What I didn't know is that RH accounts were margin accounts by default when you sign up for them. IIRC, Webull might be default margin as well?
I get that having instant access to buying and selling immediately with a $1000 available will mean there's a trade-off. It just wasn't readily apparent I was in a margin account all along.
Bout a week. Gotta wait until any deposit or transaction settles before you can switch accounts.
Were the steps easy or u had to email them?
Yeah, you can't do it yourself or go to the settings menu, you gotta email them to switch accounts. I've heard people say they also gotta turn instant settlement, options trading, etc.
There's tutorials on reddit to help.
I think I'm good since I got that Shareholder voting email and voted. So if god forbid RH gets up to some fukkry, I know they acknowledged that Im a shareholder. Ya'll should take pics of your share count and emails if you worried. Always good to have that on hand IMO.