You are out of your mind. You don't think IB has a minimum for a portfolio margin account? Why don't you just PM Def and he will tell you.
Prop Trading Firms - Note On Threatening Regulatory Developments
- Thread starter traderob
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You are out of your mind. You don't think IB has a minimum for a portfolio margin account? Why don't you just PM Def and he will tell you.
You've been sniffing glue. Read the other post. There is brokerage discretion. There is NO SEC or OCC minimum req.
I didn't say there was an SEC requirement Becket. When Fimat was beta testing the portfolio margin requirement, their 5 mil requirement was on their end, not the SEC's. Do you think any broker in the world is going to offer portfolio margin for under 500k. I'm sure in the next 5 years it will come down to 100k. But it's a moot point for 99% of ET now isn't it.
Well, thay Jonathon... why did you thtate it was from $5mm to $500k? That sounds like IB will require $500k, which I know to be false.
Like you said, it's broker discretion. I talked to IB last month and they said 500k. I asked Merril and they said 500k. I asked Fimat and they said 500k. Why don't you start a thread for Def to respond to and he can tell all of ET where they stand on this. I was told 500k for the first 12 months at least. Then they might drop it it to 100k.
I hear you... feel free, buddy. It's no skin off my nose, $5k or $500k. I have no reason to manufacture anything. The guy I talked to is a pretty well connected at Timber and talks to Peterffy often.
I posted a thread for Def to respond to under brokers. You can read his response there. I personally don't care either way. The more money the better. I'm not sure why you are so excited.