Do full time students get margin account?

Question

Hi,
My brokers reject me everytime i apply for margin account. I don't know if it's because i'm a student or not. Is there a minimum annual income or net worth to get margin account? What should I do?

Answer 1

You probably don't meet the income requirements that brokers set in order to help you out. If you don't have any money, you shouldn't have a margin account anyhow.

Answer 2

I can only recall one broker (now bought out) that published minimum requirements on income and net worth. My guess is it's a subjective call by the broker.

If you have the minimum deposit required, you can give a try at Interactive Brokers. They don't make margin calls, they just liquidate whatever's liquid in your account, so they may not care about your income. And if they do, they are the kind of company that would tell you the limits up front.