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I have margin on my brokerage account. I called to have it removed since I decided I don't want to invest on borrowed money. But one of the traders suggested I should leave it there because I will not have to wait for cash to settle before making another trade. Is this true and what are other benefits of margin besides borrowing?
They won't charge margin interest unless you buy more than what you have in cash.
Many traders have margin accounts for the sole purpose of avoiding the 3-day settlement issues and never actually USE their margin.
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