Scottrade options trading account minimum


Can I cross-guarantee my accounts to meet the minimum equity requirement? Just purchasing a security, without selling it later that same day, would not be considered a day trade. If you free-ride, your broker is required to place a day freeze on the account. Day trades can occur in a cash account only to the extent the trades do not violate the free-riding scottrade options trading account minimum of Federal Reserve Board's Regulation T.

The primary purpose of the day-trading margin rules is to require that certain levels of equity be deposited and maintained in day-trading accounts, and that these levels be sufficient to support the risks associated with day-trading activities. While Scottrade has all of the platform availability that similar brokers have from web, to desktop, to mobile, the complaints surrounding their outdated system are too many to ignore. The money must be in the brokerage account because that is where the trading and risk is occurring. Your brokerage firm also may designate you as a pattern day trader if it knows or has a reasonable basis to believe that you are a pattern day trader. Were investors given an opportunity to comment on the rules?

Accordingly, the higher minimum equity requirement for day trading provides the brokerage firm a cushion to meet any deficiencies in the account resulting from day trading. This collateral could be sold out if the securities declined substantially in value and were subject to a margin call. Your brokerage firm also may designate you as a pattern day trader if it knows or has a reasonable basis to believe that you scottrade options trading account minimum a pattern day trader. The typical day trader, however, is flat at the end of the day i.

As with current margin rules, all short sales must be done in a margin account. The SEC received over comment letters in response to the publication of these rule changes. It is saying you should be able to trade solely on the firm's money without putting up any of your own scottrade options trading account minimum. Most margin requirements are calculated based on a customer's securities positions at the end of the trading day.

This type of activity is prohibited, as it would put your firm and indeed the U. Accounts Does this rule change apply to cash accounts? Day trading in a cash account is generally prohibited.

The acquisition is scheduled to close in September ofand as with any large-company, financial-institution acquisition, the transfer of accounts could mean new terms and trading costs that current Scottrade clients may not feel best represents their needs as investors. Again, the day-trading margin rule scottrade options trading account minimum designed to require that funds be in the account where the trading and risk is occurring. Can I withdraw funds that I use to meet the minimum equity requirement or day-trading margin call immediately after they are deposited?

Can I withdraw funds that I use to meet the minimum equity requirement or day-trading margin call immediately after they are deposited? While Scottrade has all of the platform availability that similar brokers have from web, to desktop, to mobile, the complaints surrounding their outdated system are too many to ignore. Until the margin call is met, your day-trading account will be restricted to day-trading buying power of only two times maintenance margin excess scottrade options trading account minimum on your daily total trading commitment. Most margin requirements are calculated based on a customer's securities positions at the end of the trading day. Accounts Does this rule change apply to cash accounts?