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ScoTTrade

reviewed by magiquenoire@hotmail.com

ScoTTrade

ScoTTrade 1

Scottrade has for the second time change, increased their margin requirements, for ETF's. This is after I had already purchased the ETFs and was in a negative position. Raising the margine requirements arbitrarily and capriciously, either requires you to add monies to the account or sell at an inopportune time... This can and does put one in a real squeeze. Not all firms do this, so buyer beware..

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Goleno commented 128 days ago.
Scottrade did exactly the same thing to me. They let me go on margin in ultra 3x ETFs and without warning totally made them unmarginable and gave me a large margin call forcing me to sell my positions and scaring the hell out of me about the safety of the the stocks. They refused to give an explanation of why they went from 65% to 0% marginability. I sold out my positions that I had gone into expecting a large move in the market and the next day the move happened costing me a huge amount of money because I missed it. I am contacting a securities attorney and expect to be filing suit. Would anyone like to join me?
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