Are you trying to place a trade on Fidelity and encountering the 009972 error?
Here is what it says:
Error (009972) The account specified in this order is restricted. Please call a Fidelity representative. Unable to enter the order because your account is restricted to closing transactions.
In this blog post, I’ll break down some of the possible reasons why your Fidelity account may be restricted from trading or placing an order.
When you open a new account with Fidelity, there’s a 24-48 hour waiting period for verification. During this time, you won’t be able to trade right away.
2. Social Security Verification
If you just turned 18 or have a limited credit history, Fidelity might ask for extra documents like your social security card, a photo ID (like a driver’s license or passport), and a W9 form.
Fidelity customers who have used up all their settled cash will not be able to trade until the cash becomes available again. It takes 2 days for cash to settle.
A Good Faith Violation occurs when you day trade with unsettled cash. Customers with 3 or more strikes will be put on restriction for 90 days.
5. Unusual Activity with your Fidelity Account
If there’s something unusual happening in your account, Fidelity might put a hold on it. They do this to prevent fraud, which is an important safeguard. Call customer service to verify before placing your order again.
💬 Community Discussion
If you have a cash account and all your cash is used in trades, the money needs to settle. This is universal, not broker-specific. The goal is to get 25k and go to margin, so you no longer have PDT rules to deal with.
I had the same thing. One of my trades put me in the negative when I made a purchase, they said you have to wait for 1 to 3 business days for funds to settle.
You can’t clear the restriction. You will only be able to purchase with settled funds for 90 days. So if you sell a stock, you will have to wait two days for the sale to settle and clear before you can use that money to buy again.
It looks like a Good Faith Violation on a cash account! Yeah, I’ve got those too. Learn how to avoid them and only day trade with settled funds.
I believe due to a lack of settled cash. I usually keep 10k in settled cash and make as many trades as long as the 10k doesn’t go down to zero. Because of that, I have never received any restrictions.
I also bought a stock this morning. I wasn’t able to sell it for a profit. Fidelity prompted me with a violation of good faith.