Question for Full Time RETAIL traders re: Margin

[webbma]

I have a question for any FULL TIME RETAIL traders.... when you open an account with whichever broker you chose, do they automatically grant you a margin account and give you 4:1 margin? If not, what were the requirements to get reg t margin?

thanks.

 

[sbroker]

in Toronto, where I work:...

stocks below $3 - no margin...

between $3 - $5 : 50% margin (there are some exceptions)...

>$5 - 30% margin (with exceptions as well)...


you get margin based on amount of money you have when you open your account...after that is based on cash/securities you hold...


hope it helped...