You have a RRSP account at a discount brokerage at one of the banks. You place a phone trade with an IR and buy $2000 (including commissions) worth of XYZ stock. However, you have only $1980 in your account. Can you place the trade?

1. Yes, if XYZ goes up in price and you make $30 by T+2 then your account is in surplus and you do not need to make up for the deficit 
2. Yes, settlement is T+2 so you can put the deficit $20 before the trade settles 
3. No, you must contribute a minimum of $20 into your RRSP account before you make the trade 
4. Yes, since this is a day trade. You will sell the stock at the end of day regardless if you make a gain or loss