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I saw that this question was answered on reddit here as well as a similar question was answered on this S.X here.

But I wanted to confirm the meaning of a "Stock BP" amount if I'm not trading on margin with my brokerage? (I have not done anything to "initiate" any sort of margin account with my brokerage.)

If it helps, this Stock BP amount seems to be 3.5% of my account value currently.

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I realized it's because I have an open order worth $XX.XX + brokerage fee which equals this Stock BP amount.

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