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To: Gary D who wrote (7021)7/20/1999 9:56:00 PM
From: Ian@SI  Read Replies (2) of 15132
 
Sounds like Schwab is using IRA's to back up its margin loans just as if the IRA account was an integral component of the margin account.

I don't know about the USA, but such a restriction is not likely to be lawful with an RRSP in Canada.

Obviously, Schwab is doing their utmost to ensure that they get one or the other: the IRA or the margin account but not both.

I know I sure as hell wouldn't keep both accounts with a broker that made me sign that kind of onesided agreement.

FWIW,
Ian.
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