As the old saying goes, "if you ask a stupid question......" Did you expect anything different here mate?
Actually, it depends. For cash account, it's ok. But for margin account, I think broker has a good reason to require some assurance since short selling is quite dangerous.
I was looking at trade stations requirements & they asked for employment information. That is what prompted the question. I have always been under the impression that the only stupid question is an unasked question. I didn't intend for those of you who are much too busy to help a noob out with a simple question to respond. I'm sorry you found the question stupid & surprised you took the time out of your busy day to tell me. Thank you for your input, it always cheers me up when someone confirms my stupidity for me.
Well, your employment status will affect your approval for margin. This is important because most of the time, you need a margin account for using certain strategies like spreads. Say you bet all the money in your account with a short call spread. Then say it went up ten basis points and you are assigned. You don't have the money to pay it unless you sell your covered option. However, option orders aren't settled until a day later... So you see, it is a bit sticky even though you have an option to cover you.
There is no such thing as a stupid question, only stupid surdo remarks. Sour Dough has been here 3 1/2 yrs with nearly 4k posts and (s)he has yet to contribute anything of substance to this board.
I have shared many an ELD code here jackass, and have gotten many back. Good trading to you too penile membrane. Sour Dough PS: I am more than willing to provide an employment reference for the OP to TS!