Series 63: 4.4.1.2.2 Margin Accounts

Taken from our Series 63 Online Guide

4.4.1.2.2 Margin Accounts

Investors are allowed to purchase securities on loan or make short sales of securities if they open what is called a margin account. Buying securities on margin means to purchase them with credit. Margin is a big business for broker-dealers because in addition to offering customers a way to buy more securities, broker dealers earn interest on margin loans to customers. In a margin account, the investor pays for part of the price of the security and the broker-dealer loans the investor funds for the rest. The loans must be secured by the customer with money or securities and placed in a margin account he

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