Buying power is the amount of money you have available to make purchases in your Illuminate account. This represents the funds you can immediately use to invest in stocks.
You can locate this figure in the Investments section of your Illuminate app's home page.
How Funding Affects Your Buying Power
When funding your account through the profile tab, you'll encounter two distinct options:
- Fund an Illuminate portfolio - This option directs the platform to invest your money based on your risk preferences. Your entire deposit goes toward your selected portfolio.
- Fund your general account - This option deposits your money as buying power for independent stock selection.
Bank transfers typically take up to 4 business days to complete.