Do Students get Margin account??

Quote from bender271:

I thought they refused to give me margin privilege because i am a full time student and don't have a job. Yes, I am 20- will be 21 in a month or so.
It's just so hard not having margin... Have to wait 3 days for the funds to clear and can't even short a stock!
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no broker has to know yo dont have a full time job. stretch the truth next time to make yourself appear more than you are financially etc within reasonable limits and it will probably be alot easier. of course that being said be smart about how you use margin if you get it. obviously you need to be able to cover if something goes against you.
 
Say you employed and are worth 200k, the account will be ready in no time. I know people who do this all the time. Get it how you live and trade.
 
interesting question as a friend of mine is experiencing something similar... are you guys sure IB hasn't changed it's rules? It seems like they are more strict nowadays and do require that a person has an income. Although that's obviously quite strange considering you want to be a full time trader instead of working in a job...

check out this thread

http://www.elitetrader.com/vb/showthread.php?threadid=101878
 
Not 100% on this but if you're 21, you're no longer a minor in any state.

In a margin account, you are fully liable for any deficits, but if you were to be a minor it could be more difficult to collect. So, it seems "age 21" is a proper requirement.
 
Quote from erlewine:

Had one in college, wish I didn't; money I lost would have been much better spent on booze and chicks
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Seems like life's great lessons are usually learned too late. :D
 
Quote from erlewine:

Had one in college, wish I didn't; money I lost would have been much better spent on booze and chicks
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best saying on this thread. Don't get into early debt or trouble.
 
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