I just had Margin activated on my account @ Scottrade recently. The thing is, I have yet to use Margin funds. I talked to support and they said their system is set up to ALWAYS use my available cash first. They also do not allow the use of Margin on Stock <$3.
Here's where I'm confused, I have a stock <$3 that I've been holding long and it was split into 5k and 15k positions for the same ticker. I looked deeper and it says that the 15k position is held on margin and the 5k position is held on cash.. This stock has never touch $3 since I bought it, not to mention I've had it well before I activated Margin.
After the confusion comes the problem, I went in on another ticker today and now I have a Margin call for the exact price of what I paid... However it was also <$3 .. Has anyone had this issue? The folks at scottrade do not seem to understand and told me to just "Deposit $2,000".. Not what I want to do at this point.
Submitted May 26, 2016 at 04:43PM by WilliamTheGamer http://ift.tt/22qQ3KM
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