MARGIN ACCOUNT

Fendi_Bendi's picture
Rank: Chimp | 2

Hi everybody!
I have a cash account in Tradeking. I applied for MARGIN, but they denied to add MARGIN to my account(I have more than $2000 in my account), because they need my employment information. Actually I have no job now.
What brokers can open margin account without checking of my current employment ?

Comments (5)

Oct 13, 2011

uhh just about any retail FX....you can get 50:1 leverage( in the US, if you like that sort of maniacal risk)....why didnt you just say you were self employed on the trading app lol? I have never heard of a retail broker actually verifying your employment info.

Oct 20, 2011
mfoste1:

uhh just about any retail FX....you can get 50:1 leverage( in the US, if you like that sort of maniacal risk)....why didnt you just say you were self employed on the trading app lol? I have never heard of a retail broker actually verifying your employment info.

50:1 leverage in the FX market isn't maniacal risk at all..you trade spot forex, it's impossible to make any money even if you have 5:1 leverage. The moves are small, and the profit is even smaller.

50:1 isn't crazy at all in a market that moves such small basis points~

"Salesmen and traders are wild, cunning, aboriginal creatures who advise money managers about deceiving their bosses and finding new strip bars; their favourite phrase is, "Fuck you." IBankers eat fruit. Salesmen and traders eat meat, preferably fried."

Oct 13, 2011

Yeah, I just spoke to OptionsHouse (where I have my account) and the customer service guy said he'd never heard of someone being denied a margin account due to unemployment. It's really pretty impossible to get yourself in over your head when margining equities.

Anyway, this was his follow-up email to me:

Ted at OptionsHouse:

When assigning trading/suitability levels, there are 3 categories we consider: Financial Status, Investment Objective, and Trading Experience. We have thresholds for each category that we use as a guideline to determine the trading level. Please remember that these are guidelines and each account's trading level is determined on its own merit.

Based on that, I'd say they wouldn't hassle you over not working at the moment (as long as you met the minimum account requirements). Here's a link to them if you want to check them out:

OptionsHouse

I've been really happy with them.

Oct 13, 2011

Had the same experience :-P Hence why I am trading on my Zecco account (had no problem getting margin there).

Oct 13, 2011
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