Why Is Interest Charged On My Mtf Position Even After I Have Squared Off Sold It

Interest on your funded positions in MTF is based on the market settlement cycle. This means:

When you buy a stock on Monday, settlement happens on Tuesday and interest starts to be charged from Wednesday.

STOCK X Bought on Monday

STOCK X Settlement on Tuesday

STOCK X Interest Charged from Wednesday

If you sell this stock on Thursday, sell settlement for the sale happens on Friday. So, the interest will be charged on Wednesday, Thursday and Friday.

STOCK X Sold on Thursday

STOCK X Sell Settlement on Friday

STOCK X Interest Charged from Wednesday

However, if the same stock was sold on Friday, settlement happens on Monday and interest will be charged from Wednesday to Monday.

STOCK X Sold on Friday

STOCK X Settlement on Monday

STOCK X Interest Charged from Wednesday to Monday