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02-05-2008, 09:30 PM
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Difference between accounts
With Scottrade what is the difference between opening a regular account with $500.00 or a margin account $2000.00?
    
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02-06-2008, 08:24 AM
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Re: Difference between accounts
Margin means borrowing money to buy stocks. You really don't want to be doing this right now (as a beginner).
The SEC site gives a good introduction to margin. Note that you can very quickly lose your shirt in a volatile market (like we have now). Lose your shirt as in lose ALL of your money in a single day with no notice. Leave it for the experts. In my opinion, of course. Investor Tips: Margin - Borrowing Money To Pay for Stocks
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02-07-2008, 12:20 AM
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Re: Difference between accounts
I absolutely agree Josh! I once saw a guy that was leveraged to the hilt in a pharma co. 1.2MM$...1 Company...fully leveraged. The stock dropped like a rock (maybe 70%). End of the day he owed the broker 200K. I am sure he had other assets but what a crappy day for him to say the least. I like to trade, but no margin for me.
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