DBS vickers question...

[julescasa]

hi pros! i'm sure this question has been asked many times but pardon me as i couldnt find any clear answers...

i've put in a trade in dbs vickers... but what if i dont have sufficient funds in my account to fulfill the trade even after settlement date?

what happens to the shares i bought, and are there any penalties???

appreciate the advice pros!!!

 

[julescasa]

seeking help please...
bump...

 

[numbers]

if you dont have money to settle, it is forced sell by broker. Penalty is u dont decide the price it is sold, u still got to payup commissions.

 

[julescasa]

if you dont have money to settle, it is forced sell by broker. Penalty is u dont decide the price it is sold, u still got to payup commissions.

thanks my friend!

 

[lkhwee]

if you dont have money to settle, it is forced sell by broker. Penalty is u dont decide the price it is sold, u still got to payup commissions.

usually the price is lower than what you get if you sell yourself. So don't wait for them to force sell.

 

[wira]

if you dont have money to settle, it is forced sell by broker. Penalty is u dont decide the price it is sold, u still got to payup commissions.

you got to pay commission and also any difference in the price ( if the price sold is less than the price you bought it for ).

If price went up then good for you then ...