 Account types matter What's up money geeks mr. V here welcome to another video guys so in today's video I want to answer a very important questions that I've been getting from you guys Asking me what account type you should be trading with on the webo platform So basically there's two types of accounts you can open in webo for trading you can either open a cash account Or you can open a margin account, but before we get started guys if you're new to the channel We took about how to earn money how to save money how to invest and build wealth So if that's something that interests you go ahead and hit that subscribe button and your notification But so you don't miss out on new content So again the question is which account type should I start with there's two types of accounts on the webo platform for You know for you to trade with your cash account or your margin account So we're gonna take a look at your cash account. We'll talk a little bit about it And we'll take a look at the margin account. We'll talk a little about it Then I can tell you which one I think is the best base on how much money you have and then I'll tell you what I'm using Which accounts that I'm using and how I'm trading in in each of this account. So first let's start with the cash account On the webo platform when you have a cash account you get unlimited day trading So you can buy and sell Securities are limited the only difference is that once you buy security and sell it It takes two days for the money to settle before you can Use that same funds to buy and sell without getting a good faith violation on webo So if you do if you get a good faith violation though, you know You get that that that email warning and then again if you do it again They can liquidate your asset and shut your account. So you don't want to be in that position So why would you want to use? A cash account again the first thing is that you get unlimited day trade The second is if you don't have $25,000 and then a cash account is your best bet because you can still trade Five days a week even with a small account So if you have a small account in a small account I'm saying anything from a thousand dollars to say five thousand dollars. That's pretty much a small account You can you know break it into two and use each portion to trade every single day Why the other amount settles? So if you have so I say a thousand dollars you break it into two Hubs of 500 you treat with 500 on Monday Trader 500 on Tuesday and then by Wednesday the 500 you treated with on Monday setters on Wednesday You can use that to trade On Wednesday and then on Thursday what you treat with on Tuesday setters on Thursday You can treat know what you treat with on Wednesday setters on Friday and you can treat so see you can trade five days a week Without any problems, but the only difference that you can you have to split your your money into two two halves And that's one drawback, but hey, it helps you treat five days a week Again again the cash account is for for people that have Small accounts. Let's switch over to margin accounts. If you're on a web of platform If you have a margin account that has under $25,000 then what happens is you get three day trades in a five business cycle So again three day trades. So you buy and sell a stock. That's that same day That's one day trade, you know, you buy and sell the stock again. That's two day trade You buy and sell the stock again. That's three day trade So in one day if you buy and sell a position three times or you buy and sell three separate positions You've already used up your three day trades for that week So if you do it on Monday, and then you stuck Tuesday Wednesday Thursday Friday You can't day trade if you have on the 25,000 because you've already used up your three day trades and then The next week, you know, it's a you know, it will reset again and you can start day trading again You have those three day trades in a five business cycle So but if you have over $25,000 you get unlimited day trade so you can trade as much as you want like knock yourself out You can buy sell buy sell buy sell unlimited Amount of times if you have over 25,000 thus which makes the process a lot easier. So back to our Our original question What kind of account should you start with and we will and the answer is it depends It depends on how much money you have in your account So if you have anything on that 25,000 dollars, then I'll say open a cash account If you have over 25,000 dollars and then open emerging account If you have over 25,000 dollars in a cash account in Weibo, it's easy You can just convert that it takes about two days You can convert your cash account into emerging account so that you can start trading Unlimited trade emerging account also gives you obviously margins or You can get maybe 2x 3x 4x You know marginable stocks that you can actually trade and potentially make some extra money But I do have bought a cash account and emerging account on Weibo You know I've talked about this in multiple videos, which I'm gonna hook up here if you want to go check them out I don't I use my cash account for swing trading and I use my margin account for day trading Just so that way when I'm swing trading I don't have any confusion with the stocks that I'm day trading. So it's just kind of separate So I have over 25,000 dollars in my margin account. So that helps me You know to day trade Unlimitedly, whereas in my string trade account, I don't have that much But I only do string trade but again, I use it now to take the that I've explained to you guys here I use, you know, a certain amount of money and trade one day and you steal the balance and trigger the other day So I can trade five days a week in that account as well. Even though I swing trade it doesn't really matter because It did I buy today a sell tomorrow buy the next day sell the next day or maybe two or three days after So that doesn't really Impact that account a lot. So question of the day. What kind of account do you have? Do you have a cash account or a margin account? And what do you think about the differences? Are you planning on switching anytime soon between either a cash account or a margin account? Let me know in the comment section If you're not to the channel, we talk about how to earn money how to save money how to invest and build wealth So if that's something that interests you go ahead and hit that subscribe button and the notification bell So you don't miss out on new content and if you're looking to get started You don't know where to start we boys currently doing a promotion where you get two free stocks not one two Will you open an account and deposit a hundred dollars? I'm up with the links in the description below. Definitely go check them out and as always Stay motivated