Hi everyone, I have a buddy his name is marshal. marshal wants to open a margin account with TDA, but when he signed up last year and filled out the questionaire for his account he said that he had no income and no assets, and no experience. A few people have recommended that he lie to get his account, and of course I have told him NEVER EVER to do this, but he still might do it. Will TDA notice the discrepancy and call him out on the lying. Also will they press charges, take the money thats already in his account, tell other brokerages about him, or anything else that is bad (for marshal)?
They will put it on marshal's permanent record. You know, the one they gave you in high school when you had detention when in the 10th grade.