Day-trading margin question

[rmorse]

Do you offer MOO and MOC order types? What is your account minimums?

Yes and Yes on our DMA routes.

For portfolio margin accounts:
Merrill Lynch Professional:>$5mm (We normally ask for $5.1mm)
Apex Clearing: >$250,000 (We normally ask for $300,000)

The extra over the minimum is to protect the client from PM calls as you need to stay above the clearing firms minimum to keep PM. We can do Reg-t accounts at Apex for less.

If you want more information, please email me directly your name and contact information. I'll give you a call.

Bob

 

[J.P.]

Merrill Lynch Professional:>$5mm (We normally ask for $5.1mm)
Apex Clearing: >$250,000 (We normally ask for $300,000)

Interesting.

If one were to transfer a $6M account, would there be an advantage to choosing Merrill over Apex? In other words what are the advantages of choosing one firm over the other if you are trading both stocks and futures?

 

[rmorse]

I'll PM you

 

[InfoTech]

Yes, you only need to meet the maintenance requirement. Because they set the initial maintenance requirement to be higher than maintenance, there's already a buffer for the market move against you before there's a potential liquidation.

Just to clarify--you are saying that if you open a position, but then the market pulls your NLV below the initial margin requirement that IB has established for a position under PM, then IB won't liquidate until you violate the (lower) maintenance requirement.

Am I understanding you correctly?

 

[MoreLeverage]

Yes