Firstrade gives you cash buying power of up to $1,000 while waiting for your initial electronic funds transfer (ACH) to clear. The Instant Buying Power maximum for initial deposits is $1,000, meaning if you deposit more than that amount, you’ll get access to $1,000 in buying power when the deposit appears in your account history. Therefore, you’ll be able to trade with $1,000 buying power. while the full deposit amount clears banking channels. This typically takes four to five business days.
For example: A deposit of $2,000 as the initial funding of the account, will provide $1,000 in buying power. A deposit of $500, will provide $500 in buying power.
For subsequent deposits, the instant buying power limit will be based on the current account equity and will become available for trading promptly after posting. Deposited funds exceeding the limit will become available after four business days.
For example: An account with equity of $3,000 makes an ACH deposit of $5,000 from the bank. $3,000 of the new funds will be available for trading instantly, while the remaining $2,000 will become available after four business days.