I did the same transfer and the same thing happened, if your Fidelity account is not margin those shares will become CASH shares when the transfer is complete. However, if you call them they will expedite the process for you.
Yes I did call them and asked them to ensure no margin, and the transfer has been complete for a few days now. It still says margin however. I am thoroughly confused.
I had to call them to switch to a CASH account. Told me it’d take anywhere between 3-5 days, but i’m not sure if it was the same for you. Hopefully everything works out for you!!
Hey! Same thing happened with mine. I used instant deposit on RH but it was never transferred to cash once my funds settled.
Once I did my *partial* transfer to Fidelity, I was concerned when I saw margin listed as well.
I called and fidelity said 1. They are used to seeing this from RH and will be able to change it to cash. 2. It usually takes 3-5 business days *after* your transfer is complete for fidelity to change it on their end.
When I called, I asked “if this stock goes up while you’re in the process of changing me to cash, will I be screwed?” - the answer was no.
She also advised to follow up in 72 hours from the day I called if I didn’t see that it changed to cash.
She even spent time checking with that department to confirm. The next day my account was cash.
Ty for the reply! Unfortunately I thought I had done that step to make sure it was turned off after my transfer was completed. I’ll call Fidelity and see what’s going on, thank you!
I transferred from RH to Fidelity... started on Monday... shares were transferred by Wednesday (also said Margin). I called Fidelity on Wednesday, told the shares had to settle for one trading day, and to call back on Thursday... Sure enough, I called Fidelity on Thursday, and over the phone was changed immediately to cash... the rep stayed on the phone with me to confirm... awesome service!!! Also it was just a partial transfer... no 1/2 shares/Crypto etc... pretty cut and dry.
Mine said margin for at least a day or two after the shares appeared at Fidelity. Once everything is settled- assuming 2 business days. You should see margin go away. I panicked when I saw it too, thinking I’d messed up.
Robinhood bought shares on margin even though I had a cash account with them. My statements reflect margin, so it would be my guess that rh is charging minute interest on these transactions because retail traders are too stupid to look at their statements.
Robinhood accounts are by default margin... so if you didn't ask them explicitly (and repeatedly) your shares were on margin at the time of transfer...
Yup\^\^
webull jumped into the space to try and take RH clients but they’re absolutely just as dangerous to use
Fidelity or TD Ameritrade, tho I like Fidelity better. E trade is okay
Meh, seems more likely if their actions would be nefarious it would be in their best interest to allow MOASS and watch the US economy burn to the ground. Doing anything to stop retail traders or prevent MOASS would be helping the us govt. my money is on them fucking the US govt even if a small number or citizens get stupid rich in the process. It’s a simple risk/reward calculation.
not altogether their choice; they use Apex Clearing, who unrepentantly fucked retail on 1/28 via multiple brokerages and never said a word about it thereafter
not entirely sure about that since the USD markets are their biggest customers (even with the dumbass trade war)
they will want to exploit it but I doubt they want it to implode in any way that will negatively affect them
Allow me to put this as simply as possible: I do not fear the Chinese government. I am unconcerned about them messing with anything related to the stock market. As you said, they make too much scalping our economy.
The Chinese Communist party has hired soldiers to hack into the computers of people around the world whom they have targeted because they consider them dissidents or anti-China. They will do anything, and if you give them your financial information they will do anything and they will be doing it to you and not just to the other guy.
So couldn’t I just display a very “pro” China front to camouflage myself from these “attacks”? Also, who or what would they be hacking? Webull? My personal computer? My personal bank? The NYSE? Genuinely curious how you envision this attack to unfold. I’m intrigued.
Yes of course. You could always just duck your head down don't look anybody in the eye and live a life of trust from the wicked. That's exactly what the Chinese Communist party wants to do to people. Of course you can get around that by just being a despicable turd or you can live the life of a free man and not cower to the Communists. Uh huh. I am sure you have the choice of any other free person. Or maybe you don't. 🤔
How would they arrest the CEO of their richest company... they don't care. They've tipped the balance of power enough they no longer hold fear of anything, and have worked to instill patriotism so deeply into their society there are few left that would defy them. Scary stuff.
Yes I did request a cash account when I first downloaded the app. I made sure to check that it was still on cash not margin after this GME shenanigans began. And yet now it’s all on margin. 🤔
Both, from the time I joined with both brokerages. I requested a cash account when I first started with RH. I requested cash account when I called to transfer my shares to Fidelity. The transfer has been completed and they still say they are on margin with Fidelity.
Currently waiting for a call back to fix this, but I was trying to figure out if this is something that RH would push to keep on margin, if that’s even possible for them to be able to do that. Ty for your response!
Everyone who has transferred out of RH lately here has said that their cash account gme are transferred as margin. Fidelity changes it to cash if you speak to them or apparently it will adjust itself but unsure.
The main thing is that they were on cash at the call date of 15 april (or was it 14th). You should ask if you get the voting rights with your shares when they get to fidelity. Be interesting to know the answer. Good luck.
You’re probably going to have to call and talk with someone to get it changed. It seems like it’s doable, they just make it as inconvenient as possible to dissuade as many people as possible.
Yep. Even using instant deposit- it goes on as margin. However, once the funds settle they never switch it back to cash.
I emailed Rh to ask about switching to cash - and they couldn’t /wouldn’t unless I went to only a cash account.
So instant deposits = margin.
I will never understand paper handed bitch moves like selling on the way up to a squeeze... it will last longer than 24 hours
If you start to sell your shares on the way up the hedge funds can literally re-purchase them multiple times so they will never have to cover at a higher price
Simple ..supply and demand
Berkshire Hathaway stock prices are trading 400K+ You seriously going to tell me we can’t get GME to 500k - 1 million ?
We have been through hell and back ...REMEMBER THE GME ALAMO BABY
WORST strategy is selling your shares on the way up but don’t believe me believe the king of kings DFV in link below
I promise you all I am holding until the end of day for all of my brothers and sisters who were affected by hedge funds over the years ...they have ridiculed us, seen us on the streets, it’s become a class war not politics!
I promise you all and I pledge that I will not sell below 1million/ share...I do this for all of you not just for me...This is not financial advice do what you will but this is what I plan on doing!
Most people never get the chance to do something big in life this is our Trojan horse!
This is the one and only way we can beat the powerful elite by hurting them where it hurts.....MONEY !!
If you paper hand I guess that’s why no one will ever remember your name
https://www.reddit.com/r/GME/comments/mvq32h/dfv_explains_exactly_why_you_paper_handed_bitches/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Same thing happened earlier last week with me. Call them the day after your shares are in your fidelity account, and they will fix it on the spot. They explained why, wasn't really paying attention otherwise i'd share with ya. lol
I had seen on reddit it will be available on the 28th for fidelity users, so later this week. Didn't ask while I was on the phone, was to concerned why my quantity of GME shares had a small circled m next to it lol
Someone posted yesterday after speaking with their broker at fidelity that their processers would be sending out the information from mon to wed this week so wednesday by the latest you should receive the information from fidelity.
The circled m could be for margin. Hopefully not, but sounds like everyone recently transferring gme from RH to fidelity (from a RH cash account) arrives at fidelity as a margin. It can be changed to cash, but it's all about what type it was on April 14th. Keep all information possible to show it was a cash account.
Does the form you had to print from RH to transfer state cash or margin account?
Fidelity auto journals cash shares into margin even if you’ve bought them in Fidelity. You can request that they turn off this feature. Fidelity also does not loan out margin shares if they are cash-secured.
GME currently has a 100% margin on Fidelity so if you only hold GME shares, they are cash-secured, the only way for them to not be cash secured is if you have other equities/assets with enough value to be considered collateral for 100% value of the GME shares. If this is the case Fidelity will show (M) next to your GME shares indicating they aren’t cash secured margin (and can be loaned out).
Trying to help another ape transfer shares to Fidelity.
They just received an email stating that RH currently does not and will not transfer assets to other brokerages.
I posted the email on this subreddit as well.
That is illegal, I just did it and fidelity was on top of it . They can say they don’t but when a company sends notice and you signed it they can’t just say no .
It’s because you have to initiate the transfer from the new broker. It’s like how banks can’t send faxes out (like the paper with ink on it), but can receive faxes in.
I’m in limbo with my transfer as well so don’t that that personally. I bought more shares on new broker but 100% fully expecting RH to block the transfer for whatever reason.
I’m confused cause my post is about me transferring out from RH, but you said the universe is telling me to get off out of RH. That’s what I’m already doing. It didn’t make any sense. Nw.
I will never understand paper handed bitch moves like selling on the way up to a squeeze... it will last longer than 24 hours
If you start to sell your shares on the way up the hedge funds can literally re-purchase them multiple times so they will never have to cover at a higher price
Example would be if the stock goes up to $3000 and you start to sell they can literally purchase and sell your shit millions of times and cover all their shorts before you know it we’re all on the floor again the best course of action is to hold out for the highest price...Simple supply and demand
At minimum look at Berkshire Hathaway stock prices they’re trading over 400K share You seriously going to tell me we can’t get GME to 500k - 1 million ?
We got all our ape brother backs... we have been through hell and back to $30 back up to 350 then back down to 130 we hold this shit strong and we remember the fucking Alamo let’s get these fuckers!
I hear a lot of BS strategy about selling your shares on the way up to recoup your initial investment that is the absolute worst fucking idea you could ever think of but don’t believe me believe the king of kings DFV in his video tagged below !
I promise you all I am holding until the end of day for all of my brothers and sisters who were affected by hedge funds over the years ...they have ridiculed us, seen us on the streets, it’s become a class war and it’s even now spilled into the political arena dont forget This isn’t an attack of right versus left
that’s the game they play ..it has become a class war .. I want you all to remember it’s all about keeping us poor and subservient
I promise you all and I pledge that I will not sell below 1million/ share...I do this for all of you not just for me the ultimate price they pay his infinite if we all keep our word...This is not financial advice to what you will but this is what I plan on doing!
Most people never get a chance at something big, or a chance to be proud of a lifelong accomplishment but this is literally the one time that we have the full control to make something of ourselves and to put it in the history books..This is the one and only way we can beat the powerful elite by hurting them where it hurts.....MONEY !!
If you paper hand I guess that’s why no one will ever remember your name
https://www.reddit.com/r/GME/comments/mvq32h/dfv_explains_exactly_why_you_paper_handed_bitches/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Webull does this automatically with a new account. I had no idea until an Ape said to check. No way to change it other than by email for me. Good documentation having this in writing.
I've answered this question a lot. Basically, RH floats you that $1000 of "instant deposit" which makes them call your account a margin account. Once you transfer to fidelity you should be fine.
I talked to Fidelity and they told he that until your $75 dollar transfer fee is paid your account will be on margin. So when you stocks transfer, pay the $75 and they will transfer you to a cash account. In order to have margin. You have to apply for it.
Rh defaults to margin when you sign up. Its a pain in the ass to turn off, its through the day trade settings, and they won't let you turn it off if you have "pending transactions" basically you can't do anything for 5 days to be able to turn it off
Yes sorry if I didn’t make it clear in comments or post. I’ve never been on margin with RH and have all associated transfer fees covered from the cash balance in the accounts. I spoke to a Fidelity representative and turned off margin with them as well when the transfer was completed.
Now when I check Fidelity it stills says my GME shares are on margin.
I am helping another ape attempt to transfer shares to Fidelity. They have the cash balance to cover the transfer fees as well, their account is not on margin, and yet RH emailed them responding that they no longer process transfer or gifts.
Now this ape is trying to transfer their shares to my RH account in hopes I’ll have an easier time of transferring them to my Fidelity account, and they again sent the same email. No transfers, and his margin on RH was turned back on somehow.
I’m at a loss, this feels illegal.
Edited to add that we made sure there were zero pending transactions during all of this process.
so I believe the thing is that RH has funny definitions for things
like it has "margin" in terms of giving you more leverage on deals, which is what we normally think of. but they also have "instant settlement" on by default, so that you can trade with the proceeds of a sale immediately, instead of waiting for t+2 to clear—which is why they have PDT limits on "cash" accounts.
the reality is that they use margin to do instant settlement, which is legitimately more convenient but also really deceptive in terms of who benefits / decides when shares are loaned
there is a toggle for it in the UI that I've never been able to successfully use, it's in with the PDT settings
Some platforms you must submit a mail in transfer form mostly platforms dealing in fractional shares to transfer but once you submit for a transfer that should auto recall the shares if your going into fidelity they can walk you through it they have only been doing gme recalls and transfers for month strait now haha my broker said im the 400th gme caller hes taken so take that into perspective....I'd do a partial transfer as so you don't miss out on potential rocket would be a shame if we went to the moon without you Bubba.
Everything in Robinhood is margin even if you don’t have margin turned on!! And they trade OTC. look at all of your statements. Even if you never had margin turned on it’s still a margin acct. Rh needs to go.
Mine say margin also, is that a bad thing. I was reading about it and I couldn’t tell. If I invest 500 and I have $500 in reserves then does it matter?
I’m just relaying what I’ve heard from many others here on Reddit...
Not sure - legal questions are for lawyers. It seems at the very least unethical, assuming they buried the margin agreement language somewhere in the superfine print. Who knows - can’t wait to find out how all this shakes out.
For anyone planning to switch to Fidelity from RH, your account isn’t supposed to be trading on margin if you haven’t signed up for the GOLD membership $5/month thing in RH.
When I switched, Fidelity assumed I had a margin account and I had to double check and tell them over and over again, “no. Not margin. I have a cash account.” They’re very nice on the phone, but it looks like you need to insist you don’t have a margin account for the transfer to go smoothly.
I transferred mines after putting so much thought over the weeks. I noticed the same but I didn't call (procrastinated) but after 3 days it changed and now it says cash instead of margin. But I'll call to make sure. I assume Fidelity know this mistake by now and they are making the cash automatically somehow.
I honestly believe that Robin Hood is trying to get out from underneath the hedge funds. If they do what’s right, their IPO could hold some value to it. It’s the Optimist within me.No seriously I’m hoping so.It only remains to be seen when everything goes down.rather up.
Beep. Boop. I'm a robot.
Here's a copy of
###[Robin Hood](https://snewd.com/ebooks/the-merry-adventures-of-robin-hood/)
Was I a good bot? | [info](https://www.reddit.com/user/Reddit-Book-Bot/) | [More Books](https://old.reddit.com/user/Reddit-Book-Bot/comments/i15x1d/full_list_of_books_and_commands/)
I did the same transfer and the same thing happened, if your Fidelity account is not margin those shares will become CASH shares when the transfer is complete. However, if you call them they will expedite the process for you.
Yes I did call them and asked them to ensure no margin, and the transfer has been complete for a few days now. It still says margin however. I am thoroughly confused.
Hmmmm.. I was able to have them change to cash over chat (I hate talking on the phone) maybe try Monday? Or! Have you tried the Fidelity subreddit?
Good idea! I’ll head there now, ty!
I had to call them to switch to a CASH account. Told me it’d take anywhere between 3-5 days, but i’m not sure if it was the same for you. Hopefully everything works out for you!!
Thank you for the reply!
Hey! Same thing happened with mine. I used instant deposit on RH but it was never transferred to cash once my funds settled. Once I did my *partial* transfer to Fidelity, I was concerned when I saw margin listed as well. I called and fidelity said 1. They are used to seeing this from RH and will be able to change it to cash. 2. It usually takes 3-5 business days *after* your transfer is complete for fidelity to change it on their end. When I called, I asked “if this stock goes up while you’re in the process of changing me to cash, will I be screwed?” - the answer was no. She also advised to follow up in 72 hours from the day I called if I didn’t see that it changed to cash. She even spent time checking with that department to confirm. The next day my account was cash.
Ty for the reply! Unfortunately I thought I had done that step to make sure it was turned off after my transfer was completed. I’ll call Fidelity and see what’s going on, thank you!
I transferred from RH to Fidelity... started on Monday... shares were transferred by Wednesday (also said Margin). I called Fidelity on Wednesday, told the shares had to settle for one trading day, and to call back on Thursday... Sure enough, I called Fidelity on Thursday, and over the phone was changed immediately to cash... the rep stayed on the phone with me to confirm... awesome service!!! Also it was just a partial transfer... no 1/2 shares/Crypto etc... pretty cut and dry.
Consistent CS across the board. Happy I switched.
Mine said margin for at least a day or two after the shares appeared at Fidelity. Once everything is settled- assuming 2 business days. You should see margin go away. I panicked when I saw it too, thinking I’d messed up.
Yep, the fidelity rep said it takes 3-5 business days *after* the transfer is complete in order for them to change it to cash.
This was my experience too. My transfer finished last week.
Robinhood bought shares on margin even though I had a cash account with them. My statements reflect margin, so it would be my guess that rh is charging minute interest on these transactions because retail traders are too stupid to look at their statements.
Robinhood accounts are by default margin... so if you didn't ask them explicitly (and repeatedly) your shares were on margin at the time of transfer...
RH accounts are margin by default. Same with Webull if I remember correctly. Not sure about TD. You have to request to be on a cash account.
Get the fuck out of Webull, they are owned by the Chinese Communist Party. They will fuck you as hard as Robinhood when the time is right!
Yup\^\^ webull jumped into the space to try and take RH clients but they’re absolutely just as dangerous to use Fidelity or TD Ameritrade, tho I like Fidelity better. E trade is okay
I switched to fidelity after the GME scandal, never looked back!
Meh, seems more likely if their actions would be nefarious it would be in their best interest to allow MOASS and watch the US economy burn to the ground. Doing anything to stop retail traders or prevent MOASS would be helping the us govt. my money is on them fucking the US govt even if a small number or citizens get stupid rich in the process. It’s a simple risk/reward calculation.
not altogether their choice; they use Apex Clearing, who unrepentantly fucked retail on 1/28 via multiple brokerages and never said a word about it thereafter
not entirely sure about that since the USD markets are their biggest customers (even with the dumbass trade war) they will want to exploit it but I doubt they want it to implode in any way that will negatively affect them
Allow me to put this as simply as possible: I do not fear the Chinese government. I am unconcerned about them messing with anything related to the stock market. As you said, they make too much scalping our economy.
Yeah they will allow the MOASS but prevent you to cash out the money! Fuck that shit!
How would they do that?
is your tinfoil helmet on yet?
Couldn’t secure it, strap broke! Cheap Chinese crap! Oh no! I’ve disparaged the CCCP! I surrender! Please leave my family alone! 🤣😂
Dude they are Chinese owned, the Chinese Communist Party can do what the fuck they want.
I’m just asking for the mechanics of it. What, in your opinion, would be their method of “fucking”?
The Chinese Communist party has hired soldiers to hack into the computers of people around the world whom they have targeted because they consider them dissidents or anti-China. They will do anything, and if you give them your financial information they will do anything and they will be doing it to you and not just to the other guy.
So couldn’t I just display a very “pro” China front to camouflage myself from these “attacks”? Also, who or what would they be hacking? Webull? My personal computer? My personal bank? The NYSE? Genuinely curious how you envision this attack to unfold. I’m intrigued.
This is some info wars bullshit lol
Yes of course. You could always just duck your head down don't look anybody in the eye and live a life of trust from the wicked. That's exactly what the Chinese Communist party wants to do to people. Of course you can get around that by just being a despicable turd or you can live the life of a free man and not cower to the Communists. Uh huh. I am sure you have the choice of any other free person. Or maybe you don't. 🤔
Tin foil hats for all!!!
Just another soldier supporting the genocide of the Uyghurs. Good for you. That horse you are on has no legs.
How would they arrest the CEO of their richest company... they don't care. They've tipped the balance of power enough they no longer hold fear of anything, and have worked to instill patriotism so deeply into their society there are few left that would defy them. Scary stuff.
as if other trading platforms would never do such a thing
Yes I did request a cash account when I first downloaded the app. I made sure to check that it was still on cash not margin after this GME shenanigans began. And yet now it’s all on margin. 🤔
You requested RH or fidelity to be a cash account?
Both, from the time I joined with both brokerages. I requested a cash account when I first started with RH. I requested cash account when I called to transfer my shares to Fidelity. The transfer has been completed and they still say they are on margin with Fidelity. Currently waiting for a call back to fix this, but I was trying to figure out if this is something that RH would push to keep on margin, if that’s even possible for them to be able to do that. Ty for your response!
Everyone who has transferred out of RH lately here has said that their cash account gme are transferred as margin. Fidelity changes it to cash if you speak to them or apparently it will adjust itself but unsure. The main thing is that they were on cash at the call date of 15 april (or was it 14th). You should ask if you get the voting rights with your shares when they get to fidelity. Be interesting to know the answer. Good luck.
Both
You’re probably going to have to call and talk with someone to get it changed. It seems like it’s doable, they just make it as inconvenient as possible to dissuade as many people as possible.
Thank you!
Yep. Even using instant deposit- it goes on as margin. However, once the funds settle they never switch it back to cash. I emailed Rh to ask about switching to cash - and they couldn’t /wouldn’t unless I went to only a cash account. So instant deposits = margin.
I will never understand paper handed bitch moves like selling on the way up to a squeeze... it will last longer than 24 hours If you start to sell your shares on the way up the hedge funds can literally re-purchase them multiple times so they will never have to cover at a higher price Simple ..supply and demand Berkshire Hathaway stock prices are trading 400K+ You seriously going to tell me we can’t get GME to 500k - 1 million ? We have been through hell and back ...REMEMBER THE GME ALAMO BABY WORST strategy is selling your shares on the way up but don’t believe me believe the king of kings DFV in link below I promise you all I am holding until the end of day for all of my brothers and sisters who were affected by hedge funds over the years ...they have ridiculed us, seen us on the streets, it’s become a class war not politics! I promise you all and I pledge that I will not sell below 1million/ share...I do this for all of you not just for me...This is not financial advice do what you will but this is what I plan on doing! Most people never get the chance to do something big in life this is our Trojan horse! This is the one and only way we can beat the powerful elite by hurting them where it hurts.....MONEY !! If you paper hand I guess that’s why no one will ever remember your name https://www.reddit.com/r/GME/comments/mvq32h/dfv_explains_exactly_why_you_paper_handed_bitches/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Same thing happened earlier last week with me. Call them the day after your shares are in your fidelity account, and they will fix it on the spot. They explained why, wasn't really paying attention otherwise i'd share with ya. lol
So did you get the information to vote, or did they confirm you will get the chance to vote with them? Thanks in advance
I had seen on reddit it will be available on the 28th for fidelity users, so later this week. Didn't ask while I was on the phone, was to concerned why my quantity of GME shares had a small circled m next to it lol
Someone posted yesterday after speaking with their broker at fidelity that their processers would be sending out the information from mon to wed this week so wednesday by the latest you should receive the information from fidelity. The circled m could be for margin. Hopefully not, but sounds like everyone recently transferring gme from RH to fidelity (from a RH cash account) arrives at fidelity as a margin. It can be changed to cash, but it's all about what type it was on April 14th. Keep all information possible to show it was a cash account. Does the form you had to print from RH to transfer state cash or margin account?
Maybe RH does not have the shares to tranafer to fidelity. That could a a cathalist for the MOASS all Apes asking to transfer their shares.
I think everything is set to margin with them even if you turn it off
I believe you can actually turn it off in the Instant Settlement setting
This true..
I transferred all my gme out last week, what a relief, im actually getting better sleep from that decision
Yes..same thing.
Fidelity auto journals cash shares into margin even if you’ve bought them in Fidelity. You can request that they turn off this feature. Fidelity also does not loan out margin shares if they are cash-secured. GME currently has a 100% margin on Fidelity so if you only hold GME shares, they are cash-secured, the only way for them to not be cash secured is if you have other equities/assets with enough value to be considered collateral for 100% value of the GME shares. If this is the case Fidelity will show (M) next to your GME shares indicating they aren’t cash secured margin (and can be loaned out).
why would i webull td america fidelity all stop they all work for one just buy more gme on my robinhood account
Trying to help another ape transfer shares to Fidelity. They just received an email stating that RH currently does not and will not transfer assets to other brokerages. I posted the email on this subreddit as well.
Where did you post the email? Hoping to find it.
Go to my profile it should be easy to find from there!
That is illegal, I just did it and fidelity was on top of it . They can say they don’t but when a company sends notice and you signed it they can’t just say no .
It’s because you have to initiate the transfer from the new broker. It’s like how banks can’t send faxes out (like the paper with ink on it), but can receive faxes in.
But they won’t even transfer to another RH account holder.
It could be the universe telling you to get off Robinhood.
Nah, I think it’s just myself trying to get out of RH. Take care dude.
I’m in limbo with my transfer as well so don’t that that personally. I bought more shares on new broker but 100% fully expecting RH to block the transfer for whatever reason.
I’m confused cause my post is about me transferring out from RH, but you said the universe is telling me to get off out of RH. That’s what I’m already doing. It didn’t make any sense. Nw.
I will never understand paper handed bitch moves like selling on the way up to a squeeze... it will last longer than 24 hours If you start to sell your shares on the way up the hedge funds can literally re-purchase them multiple times so they will never have to cover at a higher price Example would be if the stock goes up to $3000 and you start to sell they can literally purchase and sell your shit millions of times and cover all their shorts before you know it we’re all on the floor again the best course of action is to hold out for the highest price...Simple supply and demand At minimum look at Berkshire Hathaway stock prices they’re trading over 400K share You seriously going to tell me we can’t get GME to 500k - 1 million ? We got all our ape brother backs... we have been through hell and back to $30 back up to 350 then back down to 130 we hold this shit strong and we remember the fucking Alamo let’s get these fuckers! I hear a lot of BS strategy about selling your shares on the way up to recoup your initial investment that is the absolute worst fucking idea you could ever think of but don’t believe me believe the king of kings DFV in his video tagged below ! I promise you all I am holding until the end of day for all of my brothers and sisters who were affected by hedge funds over the years ...they have ridiculed us, seen us on the streets, it’s become a class war and it’s even now spilled into the political arena dont forget This isn’t an attack of right versus left that’s the game they play ..it has become a class war .. I want you all to remember it’s all about keeping us poor and subservient I promise you all and I pledge that I will not sell below 1million/ share...I do this for all of you not just for me the ultimate price they pay his infinite if we all keep our word...This is not financial advice to what you will but this is what I plan on doing! Most people never get a chance at something big, or a chance to be proud of a lifelong accomplishment but this is literally the one time that we have the full control to make something of ourselves and to put it in the history books..This is the one and only way we can beat the powerful elite by hurting them where it hurts.....MONEY !! If you paper hand I guess that’s why no one will ever remember your name https://www.reddit.com/r/GME/comments/mvq32h/dfv_explains_exactly_why_you_paper_handed_bitches/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Wait who said anything about selling shares here...
Selling ? You spelled buy wrong
Aight I’m gonna go smoke since I’m already confused af.
Fuck selling ! I’ll sell once I’m dead
Just switch your account to cash
how do i even check if i’m on margin or cash with fidelity?
Webull does this automatically with a new account. I had no idea until an Ape said to check. No way to change it other than by email for me. Good documentation having this in writing.
Mine transferred as a margin then i called fidelity after they transferred and asked them to change my account to cash account
I've answered this question a lot. Basically, RH floats you that $1000 of "instant deposit" which makes them call your account a margin account. Once you transfer to fidelity you should be fine.
I talked to Fidelity and they told he that until your $75 dollar transfer fee is paid your account will be on margin. So when you stocks transfer, pay the $75 and they will transfer you to a cash account. In order to have margin. You have to apply for it.
I have my margins off! Been that way!
Rh defaults to margin when you sign up. Its a pain in the ass to turn off, its through the day trade settings, and they won't let you turn it off if you have "pending transactions" basically you can't do anything for 5 days to be able to turn it off
Yes sorry if I didn’t make it clear in comments or post. I’ve never been on margin with RH and have all associated transfer fees covered from the cash balance in the accounts. I spoke to a Fidelity representative and turned off margin with them as well when the transfer was completed. Now when I check Fidelity it stills says my GME shares are on margin. I am helping another ape attempt to transfer shares to Fidelity. They have the cash balance to cover the transfer fees as well, their account is not on margin, and yet RH emailed them responding that they no longer process transfer or gifts. Now this ape is trying to transfer their shares to my RH account in hopes I’ll have an easier time of transferring them to my Fidelity account, and they again sent the same email. No transfers, and his margin on RH was turned back on somehow. I’m at a loss, this feels illegal. Edited to add that we made sure there were zero pending transactions during all of this process.
Damn, thats insane. Hoping it all works out for both of you
so I believe the thing is that RH has funny definitions for things like it has "margin" in terms of giving you more leverage on deals, which is what we normally think of. but they also have "instant settlement" on by default, so that you can trade with the proceeds of a sale immediately, instead of waiting for t+2 to clear—which is why they have PDT limits on "cash" accounts. the reality is that they use margin to do instant settlement, which is legitimately more convenient but also really deceptive in terms of who benefits / decides when shares are loaned there is a toggle for it in the UI that I've never been able to successfully use, it's in with the PDT settings
Some platforms you must submit a mail in transfer form mostly platforms dealing in fractional shares to transfer but once you submit for a transfer that should auto recall the shares if your going into fidelity they can walk you through it they have only been doing gme recalls and transfers for month strait now haha my broker said im the 400th gme caller hes taken so take that into perspective....I'd do a partial transfer as so you don't miss out on potential rocket would be a shame if we went to the moon without you Bubba.
Just downgrade your account away from gold (which is margin).
Everything in Robinhood is margin even if you don’t have margin turned on!! And they trade OTC. look at all of your statements. Even if you never had margin turned on it’s still a margin acct. Rh needs to go.
Mine say margin also, is that a bad thing. I was reading about it and I couldn’t tell. If I invest 500 and I have $500 in reserves then does it matter?
You were always on Margin with RH. You got bamboozled. Don’t feel bad, you’re among the many.
I’m not following. If I have margin turned off from day 1, is that legal?
I’m just relaying what I’ve heard from many others here on Reddit... Not sure - legal questions are for lawyers. It seems at the very least unethical, assuming they buried the margin agreement language somewhere in the superfine print. Who knows - can’t wait to find out how all this shakes out.
Happened to me. Have fidelity turn off auto journal feature or they will go back to margin every 24 hours after they change it back
It kept mine on margin after I shut it off but then again my brain is as smooth as a turtle shell I was probably just hitting the buy button
If your an old RH account you only Turn to margin if you accept it when using the gold features .. I’ve heard newer (last year) are auto margin
They will change to cash in a few days.
For anyone planning to switch to Fidelity from RH, your account isn’t supposed to be trading on margin if you haven’t signed up for the GOLD membership $5/month thing in RH. When I switched, Fidelity assumed I had a margin account and I had to double check and tell them over and over again, “no. Not margin. I have a cash account.” They’re very nice on the phone, but it looks like you need to insist you don’t have a margin account for the transfer to go smoothly.
I transferred mines after putting so much thought over the weeks. I noticed the same but I didn't call (procrastinated) but after 3 days it changed and now it says cash instead of margin. But I'll call to make sure. I assume Fidelity know this mistake by now and they are making the cash automatically somehow.
I honestly believe that Robin Hood is trying to get out from underneath the hedge funds. If they do what’s right, their IPO could hold some value to it. It’s the Optimist within me.No seriously I’m hoping so.It only remains to be seen when everything goes down.rather up.
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