Thanks for clarifying, we can now breath a little easier, but why then advertise it in such a misleading fashion and get a lot of serious Traders worried? 1= What qualifies the trader, just agreeing to pay higher comm.? How do you exactly qualify a trader for a $300 margin? 3- then that itself is the proof that GF is targeting the small cap traders? Contradicting 1 above! 4- With all due respect, I find it hard to believe you, your clients SHALL GO DEBIT, period. They're small cap beginners who are using very, extremely TIGHT stops, that is Guaranteed to go debit, 100%. Your margin department can't do zap about monitoring the accounts...please explain to us how does the adept persons monitor the margins, when they may have to attend hundreds of accounts in milliseconds? At the end of the day, your firm is only adding to the volatility, which is GREAT for me and the rest of the Day Traders but very irresponsibly bad for the investors whose healthy stops are being taken out and the economy overall. Very irresponsible...this is how you get the big brother to step in and impose more regulations...as the recent case of not shorting the fins. or the U/D tick rule that was and will soon come back...
Quote from dmcw: I'm not sure I'm qualified to speak for management on this. I'm just a broker here, but I have a few points to make: 1) $300 is not our standard margin. It's availble to qualified clients who are willing to pay slightly higher commission rates. 2) $300 day margins are not offered for the ER2 3) $300 day margins have are limited to a maximum position size 4) We don't want to see our clients go debit either (believe me), . Personally I don't reccommend $300 day margins to anyone, but some people like to have the option. I would not have my money at a broker that offered $300 or $500 margins. Anymore that I would like to have my retirement income invested in a company that specialized in "little to no money down" mortgages. Every now and then (as we are seeing now), the wheels fall off. And knowing my broker will still be around is more important than small margins. "but we have an adept in-house margin department to monitor accounts and they are able to negate the risk of debits?" Don't make me laugh. One day, there will be a rumour like "Pakistan nukes India" or "9 western cities hit by dirty bombs" and the market will suddenly rip through every record known to man. The IBs also thought they had "in-house geniuses" for things like CDOs and subprime. "Hey customer, CDOs are almost as good as cash!" Now, they are buying them back or as little as 5 cents on the dollar. The IBs and banks have deep pockets. The small "$500 margin" brokers will suddenly be displaying "This website temporarily suspended. Please contact the NFA for more information"