One thing that was not mentioned is the credit check. If you have a margin account with ANY broker, they can and will pull your credit from time to time to ascertain whether or not they are comfortable with extending a margin account in your name. If there were irregularities or high debt balances, this may have caused a reason for concern in the compliance department.
ummm....credit check from broker...never heard of that..and how do you check credit score for foreign customers?
In light on serpent's refusal to provide basic ID... I'm surprised this account hasn't been "frozen"... And turned over for investigation by "money laundering" authorities. Probably only because it's such a tiny account... And not worth anybody's time.
Definitely something fishy going on. Siv ashad and serpent might be the same person or they know each other. Each have the same problem, similar language-grammar-spelling, and have only made posts related to this problem.
the broker has no need or reason to do worry about your credit rating: 1. they got your cash 2. the margin is secured by stock The broker will clear you out long before your cash run out.
Margin policies can never completely eliminate the danger that a particular account will incur such an enormous loss that it wipes away the account and leaves the customer in debt to the broker. The broker is entitled to enough personal information to protect itself from such situations. The broker is also required to protect against identity theft. These are only some of the reasons why a customer must sacrifice some of his privacy in order to have a brokerage account.
I had a position on the mini nikkei 225 with a 100 tick stop which I held overnight. It gapped down 300 ticks below my stop and I got closed out for a loss of $400, $300 more than what I was willing to lose. If trading enough of the full contracts I could easily have ended up with a negative balance. There was also a post a few years ago about an OTM GOOG call option trade that went ITM at expiration costing almost $10,000 and IB took the money from his IRA account. I'm sure IB has to collect a few times a month from negative account holders.