Originally Posted by themav37
I have TOS but it is through TD. Would that make a difference if I switch?
I don't want to lie but shit, I want to trade options too. I don't want a line of freaking credit. Yeah maybe it would be nice but I want more options then just trading stocks. Thanks for the replies guys I do really appreciate them.
TOS broker has different requirements.
I think you are mixing up what a margin account is and options access. As long as you have at least $2000 (I think) with TDA you can have a margin account. If you applied for it you probably already have a margin account.
What you were rejected for was options access. TDA bases it off the money you have and experience. I have well over 25k with TDA, just as much in other accounts, and 5 years of trading experience and they still denied me for anything above level 1 (selling covered calls). Second time I applied I stretched the truth and was still denied. I really don't get TDA, I can negotiate $7 trades with them, but can't buy a put or call. That is why I opened up a separate TOS account solely for trading options. It is smart to have at least two brokers anyways in case there are technical issues with one and there is a trade you need to get in.