how does the min. opening balance work?

V

vk60546

I'd like to open a trading account with thinkorswim and understand that they are looking for a min. opening balance of $3500.

Does that mean that my account should be valued at 3500 minimum? In other words, what happens if I buy 3500 worth of stock, but it drops the following day and my value is now 3000? Will I need to add $500 to my account?

Conversely, if 3500 is needed to open an account, but there are no minimum value requirements, can I deposit 3500 but then withdraw 3000 and trade with $500 only?

thanks in advance.
 
Why don't you send this email to thinkorswim?


Every broker has their own policies, and they tend to change from time to time.
 
confirmed that I can do what I asked about with thinkorswim. Though they said that I need to maintain 2000 min to maintain a margin account.

So, if I don't mess with trading on a margin, I can open an accound with 3.5K then take 3K out and trade with $500 or lower.
 
It really is none of my business...but how can you make any money at TOS with $500.00? I realize options are a leveraged game....but really only $500.00 bucks? How can you trade safely?

ES

Late Edit: Perhaps you will turn 500 into 72 billion in 6 months...see the new thread soon.


Quote from vk60546:

confirmed that I can do what I asked about with thinkorswim. Though they said that I need to maintain 2000 min to maintain a margin account.

So, if I don't mess with trading on a margin, I can open an accound with 3.5K then take 3K out and trade with $500 or lower.
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