From an article on online trading. Another factor to consider if you trade internet stocks.. i.e. Don't use DLJ FOR SURE.. yuck.
Investrade doesnt have any of these requirements (that i know of) I may call them on Monday and ask to make sure I dont screw myself while trading... article excerpt below
Waterhouse, a unit of Toronto Dominion Bank, has a maintenance requi Yahoo, Excite ( (Nasdaq:XCIT - news) ), Lycos
( (Nasdaq:LCOS - news) ), eBay, uBid ( (Nasdaq:UBID - news) ), CMGI ( (Nasdaq:CMGI - news) ), Broadcast.com,
Data Broadcasting ( (Nasdaq:DBCC - news) ) and pending IPO MarketWatch.com (Nasdaq:MKTW - news) ,
acccording to a spokeswoman. Another 43 stocks, mostly Internet stocks, have maintenance requirements of 40% or 50%.
(Waterhouse's base maintenance requirement is 35% and the minimum in the industry is 25%.)
Ameritrade ( (Nasdaq:AMTD - news) ) has increased the number of stocks that carry a 50% (instead of 30%) margin
maintenance requirement to about 40 stocks, from about 25 over a month ago, according to a spokeswoman. Ameritrade still
has a 50% initial margin requirement on those stocks. (When first buying, the minimum initial margin requirement in the industry
is 50% of the stock's purchase price.)
Donaldson Lufkin & Jenrette's ( (NYSE:DLJ - news) ) DLJdirect unit continues to levy a 50% margin maintenance
requirement on Internet stocks already in accounts and won't let customers buy Net stocks on margin, according to a
spokeswoman.
Last month, online brokers including Charles Schwab ( (NYSE:SCH - news) ), Ameritrade, Waterhouse and DLJdirect raised
their margin maintenance requirements on some Internet stocks to as high as 50%. |
