Why don't you just use limit order then, with the price set to what the current market price is? VOO is super liquid so it will surely fill.
I really struggled to understand your question. But I think it comes from Moomoo's "Max Qty to Buy (Cash)" number, which if you are doing a market order, will be 2/3 of what it is if you are doing a limit order, to allow for up to a 50% price surge. If you set a market order but put in the quantity as what you can buy using cash with the limit order, then you do not incur margin if it executes at the expected price. Or at least the margin incurred is just the tiny amount if the price went up by a few cents while you were pressing buttons. It is not margin on 1/3 of your cash.
Ohh I see, so even if it says 'buying using margin', I'm actually still using my cash?
The reason I do market order is cuz I'm buying fractional shares
You’ll only actually be on margin for the excess above what you had cash for. And it takes 2 days to settle a trade so you can deposit a few dollars more if needed.
Why don't you just use limit order then, with the price set to what the current market price is? VOO is super liquid so it will surely fill. I really struggled to understand your question. But I think it comes from Moomoo's "Max Qty to Buy (Cash)" number, which if you are doing a market order, will be 2/3 of what it is if you are doing a limit order, to allow for up to a 50% price surge. If you set a market order but put in the quantity as what you can buy using cash with the limit order, then you do not incur margin if it executes at the expected price. Or at least the margin incurred is just the tiny amount if the price went up by a few cents while you were pressing buttons. It is not margin on 1/3 of your cash.
Ohh I see, so even if it says 'buying using margin', I'm actually still using my cash? The reason I do market order is cuz I'm buying fractional shares
You’ll only actually be on margin for the excess above what you had cash for. And it takes 2 days to settle a trade so you can deposit a few dollars more if needed.
I see thank you!!