What actions can result in a good faith violation on a cryptocurrency exchange?

3 answers

• student e09cd5deJun 24, 2021 · 4 years ago
  Sure! A good faith violation on a cryptocurrency exchange can occur when you buy a stock or cryptocurrency with unsettled funds and then sell it before the funds have fully settled. This violates the 'good faith' requirement, which states that you must have sufficient settled funds in your account before making a purchase. It's important to wait for the funds to settle before selling to avoid such violations.
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• chen yangMay 13, 2023 · 2 years ago
  Oh, good faith violations can be a pain! They happen when you buy something with money that hasn't fully cleared yet and then sell it before the funds have settled. It's like trying to spend money that hasn't hit your bank account yet. So, make sure you have enough settled funds before making any trades to avoid getting into trouble.
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• Steven BakerJul 23, 2021 · 4 years ago
  A good faith violation on a cryptocurrency exchange can occur when you buy a stock or cryptocurrency using unsettled funds and then sell it before the funds have fully settled. This violation can result in a restriction on your account, such as a 90-day freeze on trading. It's important to be aware of the settlement period and ensure you have sufficient settled funds before making any trades to avoid such violations. Remember, it's always better to play by the rules and avoid any unnecessary restrictions on your account.
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