I recently sold a few stocks from my espp plan using Morgan Stanley. It supposedly takes 3 days for me to get the proceeds. I've been trading on Robinhood as well for some time now and i'm able to do instant sell followed by a buy. Is there something under the hood Robinhood does to make this possible? For the TC nerds :) - 200k
You're transferring funds between accounts, which takes some time on top of waiting for the transactions to settle etc. That's not the same as selling stock in one account.
That's probably it. Sry, it's my first time selling espp/RSUs, thanks for the info
Robinhood just fronts you the money.
Just enable margin in your adult broker.
Takes a few days in Robinhood but I would use RH all the way just because of its UI and simplicity
I agree, RH is more intuitive in it's design. I'm only using Morgan Stanley as my company doesn't work with Robinhood for RSU/Espp Management
I feel attacked
This might because you are using only for RSU/ESPP so it is crediting you after settlement. However if you trade regularly with MS as you do with RH- you would be able to instantly use the money you get by selling for other buying, however for withdrawing that money you would still have to wait for settlement.
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It still takes a few days to go from robinhood to your bank account. Maybe you're thinking about robinhood's instant deposit feature?