TFF and OZ,
First to respond to you OZ, I probably agree with you about MyTrack not being as good as other day-trading firms, the point is that this rule is coming down from Penson which clears for them as well as many other day-trading firms, so unless MyTrack is simply misinterpreting the Pensons new rule I would think that this would affect many others out there as well. By the way this has only begun to happen last week as far as I know.
On the other hand TFF I've seen so many people being threatened with account closures for the past week due to margin calls, that its not even funny. This is coming from Penson, not MyTrack, so maybe you are right that I got a response from a clueless rep, however people are still complaining due to real margin calls. Last Monday I placed about 90 trades, but I did not get a margin call myself (haven't traded since). When I asked them what I need to do to avoid those kind of calls, they told me that trading the same security more that 2-3 time would qualify, even though I have done so. So, who knows? Anyway, they said that they will come out with some kind of an announcement next week to clarify the matter.
shneed |
