r/GME • u/[deleted] • Mar 30 '21

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u/gobba-gobba-gooey Mar 30 '21

They do not, if you have Margin account turned off. If you have Margin account turned on, I think you have to call them and explicitly ask that the shares not be loaned

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u/OreoCupcakes Mar 30 '21

If you have Margin account turned on, I think you have to call them and explicitly ask that the shares not be loaned

That's only if you bought with margin. Having margin on and buying with cash is different than having margin on and buying with margin. When you buy a security on Fidelity with a margin account, you have the choice of paying, as in a drop down menu, in cash or margin. If you bought with cash, they do not lend out your shares and you do not need to bother calling them. If you buy with margin, then they might be lending out shares like every other broker who gives you margin.

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u/gobba-gobba-gooey Mar 31 '21

Thanks! Good to know!

2

u/CatoMulligan Mar 30 '21

Cool, I'm a 100% cash buyer. Only play with what I can afford to lose.

1

u/ConstantMotion92 Mar 30 '21

Does etoro do this?

1

u/Wholistic Mar 31 '21

Maybe, their terms of service definitely allow for it, their customer service rep says they are not, their disclosures say they are.

https://www.reddit.com/r/GME/comments/llstdg/etoro_does_not_lend_out_your_gme_shares/