Series 28: Insufficient Margin For Pattern Day Traders

Taken from our Series 28 Online Guide

Insufficient Margin for Pattern Day Traders

Recall that the special maintenance margin requirement is 25% for most equity securities. Some equity securities (such as penny stocks, new IPOs, and over-the-counter securities) are not margin eligible and demand 100% of their value in the day trading account.

When the equity in a customer’s account is not sufficient to meet the firm’s day trading req

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