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Why do I have a small amount of cash remaining after a trade?
When placing a trade in Direct Index and Impact accounts, our platform converts the investment dollar amount into an exact share count to be sent for trade execution. To ensure that the amount invested does not exceed your available funds, we require a 2% cash reserve to account for market price fluctuations when the trades are executed at market open.
For Trading accounts, we reserve 2% for real-time trades placed and executed during market hours and 5% if the trades are pending execution at the next market open.