Series 24: 3.7.2.6. First Trade In A Long Margin Account

Taken from our Series 24 Online Guide

3.7.2.6. First Trade in a Long Margin Account

Margin accounts have minimum deposit requirements for the first transaction. For a long market account, a purchase of less than $2,000 requires 100% of the value of the purchase. For purchases between $2,000 and $4,000, the customer must deposit at least $2,000. For purchases over $4,000, the customer must deposit at least 50%.

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