Hi all - I'm fairly certain the answer to the below is no, but asking search/AI engines has resulted in various or open ended answers, so I thought the community might be able to help put this to bed.
I'm in the process of investing my account. Half is in index funds and the other half in SGOV while waiting. 100% of my cash is being utilized.
Since I can only place open orders in this dcenario if I am approved for margin, (1) would I be charged interest on the value of open orders while being fully invested if settlement balance is zero or positive and (2) if I sell SGOV on the same day my open orders are filled to zero out settlement funds the next day, with both having T+1 settlement, will I be charged margin for a day?
Thank you!