how does the min. opening balance work?

Discussion in 'Trading' started by vk60546, Oct 28, 2010.

  1. vk60546


    I'd like to open a trading account with thinkorswim and understand that they are looking for a min. opening balance of $3500.

    Does that mean that my account should be valued at 3500 minimum? In other words, what happens if I buy 3500 worth of stock, but it drops the following day and my value is now 3000? Will I need to add $500 to my account?

    Conversely, if 3500 is needed to open an account, but there are no minimum value requirements, can I deposit 3500 but then withdraw 3000 and trade with $500 only?

    thanks in advance.
  2. joe4422


    Why don't you send this email to thinkorswim?

    Every broker has their own policies, and they tend to change from time to time.
  3. vk60546


    confirmed that I can do what I asked about with thinkorswim. Though they said that I need to maintain 2000 min to maintain a margin account.

    So, if I don't mess with trading on a margin, I can open an accound with 3.5K then take 3K out and trade with $500 or lower.
  4. It really is none of my business...but how can you make any money at TOS with $500.00? I realize options are a leveraged game....but really only $500.00 bucks? How can you trade safely?


    Late Edit: Perhaps you will turn 500 into 72 billion in 6 months...see the new thread soon.