anyone getting more than 4 to 1 margin?

T

traderich

I am currently using Scottrade. They allow 4 to 1 margin with min. 25k cash. I have heard of some guys on here saying they were getting 10 to 1 margin.

I hope the firms are reputable though. I guess that is my only concern with using a no-name company to trade and be worried they could close up shop and I lose my money in the account.

Anyone have any experiences about this?
 
Quote from traderich:

I am currently using Scottrade. They allow 4 to 1 margin with min. 25k cash. I have heard of some guys on here saying they were getting 10 to 1 margin.

I hope the firms are reputable though. I guess that is my only concern with using a no-name company to trade and be worried they could close up shop and I lose my money in the account.

Anyone have any experiences about this?
More...

Perhaps they were referring to futures margin.
 
Quote from traderich:

I am currently using Scottrade. They allow 4 to 1 margin with min. 25k cash. I have heard of some guys on here saying they were getting 10 to 1 margin.

I hope the firms are reputable though. I guess that is my only concern with using a no-name company to trade and be worried they could close up shop and I lose my money in the account.

Anyone have any experiences about this?
More...

All patern day traders get 4:1, but I have never gone over 3:1 . I know with 10:1 I could easily lose all my money in a single day.
 
The margin you're hearing of is through prop firms, where it can be astronomically high compared to retail (but usually restricted to intraday only, unless you develop a relationship with them over time).

Prop firms really do offer enormous benefits if you know how to use them to your advantage, though they have their downsides as well (the sleaze factor can sometimes be higher than normal).
 
You must log in or register to reply here.
Back
Top