New clearing rule for cash accounts?

[mute9003]

is that industry wide or just specific brokers?
Webull and tos are now clearing next day instead of 3 days
So now it makes sense to switch to cash account since the caah will clear by next day

 

[ZBZB]

Settlement has changed to t+1 industry wide.

 

[BMK]

Webull and tos are now clearing next day instead of 3 days

This was the only thing anyone talked about in May. You been living under a rock somewhere, with no internet access?

https://www.sec.gov/resources-for-i...le-what-investors-need-know-investor-bulletin

So now it makes sense to switch to cash account since the caah will clear by next day

Well, maybe, if all you do is trade stock, and you never, ever have a need for margin, even for just one or two days, and if you never sell stock short, and you never trade options...