Broker freezes my acct upon wiring out funds to <$25k!!

Discussion in 'Retail Brokers' started by Option Trader, Apr 8, 2008.

  1. Bingo !

    too many small guys eating in market maker profits through scalping
     
    #31     Apr 9, 2008
  2. GTC

    GTC

    OldTrader, You can also call the involvong brokers (e.g., Ameritrade, IB, etc.) to find out more information for your reference. Try to get the compliance department.
     
    #32     Apr 9, 2008
  3. If you're a PDT and your margin equity (cash + holdings minus options) falls below $25K, my understanding was that you can still trade, but not using any margin, for 90 days. Meaning you can only open a position if you have cash lying around in the account. Was your broker doing anything more restrictive than this?
     
    #33     Apr 10, 2008
  4. IB is blocking ALL opening trades.
     
    #34     Apr 10, 2008