Was hoping someone could answer this.. Can I open 2 accounts with the same broker (such as IB) instead of having accounts with two different brokers? Will this give me 6 day trades? IB is the only broker I like so far, as I am much better at scaling into short plays.
Posted May 07, 16 12:54 AMbyERtrader12
Categories
Basics
@Joe_WallStreet Does TD allow more than 1 margin account? Most brokers will let you have multiple accounts but you're only allowed 1 margin account.
@Joe_WallStreet Did that give you more than 3 day trades? Or were you over 25k?
At one point all 3 of my TD Ameritrade accounts were margin accounts. I ended up requesting that they remove margin from one of the accounts and converting it to a cash account so that I could day trade Options without having 25k in my account. Stocks settle in 3 days but Options settle overnight, so as long as I trade with settled funds I can trade as often as I'd like.
My current account setup with TD Ameritrade is this: Account #1: Margin + Options... Account #2: Roth IRA with Margin + Options... Account #3: Cash + Options... I only trade with account #3... Account #1 is pretty much used for banking.
Join now or log in to leave a comment