TOS is a platform owned by TD Ameritrade. So no, TOS is not a Introducing Broker to Penson. If you open an account with TOS, your opening an account at TD which is self clearing.
Very recently opened an account at TOS and all the sheets I get are from Penson. Check to open account was made out to Penson, so I dont think they are self clearing.
Bob, if a trading company uses Penson to clear, they do not have their own software/system to clear internally like OX. Correct? So, you cannot have a real time margin calculator. Frank
The best thing to do is call and ask. Before the take over, they cleared through Penson. They might not have moved everyone over yet. Or, it has to do with the way you opened your account. I did a broker check of the name THINKORSWIM, and they are not currently a FINRA broker dealer, but TD is.
Penson does not have their own Real Time Margin calculator for external use, or their own platform. They allow for third party platforms. As the Introducing Broker, if your account has under $5mm, it is our responsibility to monitor margin, and the account holders responsibility to not use more than allowed.
Depends on what you are trading. I have had an account with TOS for a while and I am still cleared through Penson. They are in the process of moving all non futures and FX products to clear through TD. Not sure of the conversion date though.