All trade orders, buy and sell, are executed at the close of the stock market. This is 4 PM ET*.
If your trade is entered into your Stockpile account after 3 PM ET on a market/business day, your order will be placed at 4 PM on the next business day.
For sell trades, the cash will settled in your account in 2 business days. If you would like to learn more about T+2 settlement time, click here.
If you are selling stock, you can use the cash once the sale is reflected in your Stockpile account, you can use that cash to purchase more stock. Just keep in mind that your purchase order will execute using the end-of-day price. So if you place your sell order on a Monday at 8am, your cash will be available for trading Monday around 5pm, and if you place a buy order that evening, your purchase order won’t execute until Tuesday at 4pm.
*The cut-off time is a little earlier if the market is closing early, for example, the day after Thanksgiving or Christmas Eve. If you would like to see the Market Calendar & Trading Hours, please click here.