Daytrading margin call. What?

Discussion in 'Retail Brokers' started by traderva, Oct 7, 2021.

  1. We you soliciting for business or had some info to provide that may interest others?
     
    #11     Oct 8, 2021
  2. Robert Morse

    Robert Morse Sponsor

    My message was not to solicit business, although most are, but to give him the opportunity to call me to explain in detail so I did not have to write a long public message. Finra does not have different rules if your trading software loads symbols at the incorrect rate (I.E. 25% on a stock under $3 that should be 100%) or calculates your remaining BP wrong or if you go over on your own for other reasons. https://www.finra.org/investors/lea...ng/day-trading-margin-requirements-know-rules. See Margin Calls. What if I exceed my day-trading buying power? If you exceed your day-trading buying power limitations, your brokerage firm will issue a day-trading margin call to you. You will have, at most, five business days to deposit funds to meet this day-trading margin call. 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 based on your daily total trading commitment. If the day-trading margin call is not met by the fifth business day, the account will be further restricted to trading only on a cash available basis for 90 days or until the call is met.


     
    #12     Oct 9, 2021
    vegamedic likes this.
  3. Thanks, learn something new every day.
     
    #13     Oct 9, 2021