What is cash and sweep vehicle on thinkorswim?

The Cash & Sweep Vehicle section contains such information as the account balance at the start of the day, moves in and out of your Money Market or Sweep vehicle, and line items summarizing all of your trades. In addition, you can determine the Fees & Commissions associated with each trade.

What is cash sweep vehicle TD Ameritrade?

Cash balances in your cash sweep vehicle are automatically deposited on a daily basis to your IDA, money market fund, or held in TD Ameritrade Cash, as applicable. For clients who have selected the IDA, TD Ameritrade will deposit cash balances with one or more Program Banks.

What is a cash sweep vehicle?

In its simplest form, a sweep vehicle is an investment program designed to provide a return for end-of-day cash held in a custody account.

Can you trade with cash sweep?

The great thing about the sweep account is that when you want to buy more securities, the cash is automatically swept back into your brokerage to buy the securities. If you trade on margin, the cash in your sweep account will also be counted towards your margin requirement.

What does cash and sweep balances mean?

Cash sweeping, or a sweep account, is a checking account that automatically transfers money to an investment account once that checking account exceeds a certain amount of money.

How does a cash sweep account work?

A sweep account is a brokerage or bank account that, at the close of each business day, automatically transfers funds that surpass or fall short of a certain threshold into a higher interest-earning investment option. The excess cash is usually swept into a money market fund.

Why is my cash sweep negative?

If your cash balance is negative (in parenthesis), then that means your account is on margin and borrowing money. Accounts on margin are assessed interest daily (including weekends) and are charged monthly (mid-month).