What’s the Margin Requirements for Stock Purchases?
Summary of User Issue and Solutions:
- The main problem reported by the user, starry, is that despite having $670 available to trade, they are prompted to have a minimum of $2000 to trade on margin.
- FidelityEmilio suggested checking if margin is enabled on the account and whether the user is placing trades as cash or margin.
- It was clarified that margin is not enabled by default and the user should check their agreements on the Fidelity website to confirm if margin was applied for their account.
- To disable margin, the user can reach out to Fidelity via chat, phone, or social media, as it cannot be done directly through Discord.
- Additionally, the user can select “Cash” as the trade type when placing trades if they do not want to use margin, even if it is enabled on their account.
Here’s the full thread
I have 670 in non marginal available to trade but when I go to buy $100 of stock it says I need min $2000 to trade margins?
Hey there, @starry. I’m happy to help out here. First, a couple of questions.
First, do you know if you have margin enabled on that account? Also, on your Balances tab, are you seeing the $670 in your “Cash Available to Trade” balance? Finally, when you’re going to place the trade, are you placing it in type-cash, or type-margin?
Let me check thank you
Of course! Take your time.
I see margin but there’s no disable button
When you say you see margin, are you talking about on your “Balances” tab? I should also ask, what platform are you using?
I am on mobile do I have to do it on pc?
No, you shouldn’t have to go to the website. From the “Home” menu, tap the account you’re trading in, then tap the “Balances” menu. There, you’ll see “Cash Available to Trade” with a small arrow you can tap to expand and see other balances.
Oh that I have $670 avalible tot trade
I mean how do I disable or check if I have margin on
Margin will not be enabled by default, so you would have had to apply and be approved. If you’re unsure if you’ve done that, you will need to login to the website to check if we have a margin agreement on file for the account. You can access our site on the mobile web browser on your device if you don’t have access to a desktop.
To view the agreements we have on file, log in to Fidelity.com and go to the “Balances” tab on your portfolio view. From there, scroll all the way down until you see “Trading Profile.” Here, select “Agreements” to see what’s on file.
Oh I must of enabled it before then
how could I disable it?
I see. You can disable margin by reaching out to us through chat or phone, or connect with us via social media. Unfortunately, it’s not something I can help with here on Discord.
With that said, you don’t have to disable margin to trade in cash. If you do have it enabled, then when you’re going to place your trade, you should see an option for the “Trade Type” on the trade ticket. Be sure to select “Cash” if you don’t want to use margin, or don’t have any margin buying power. If you’d like, you can reach out to us on the aforementioned channels and we can connect in a secure environment to review your account with you in a private setting. That tends to be a quicker route to see what’s going on.
Ok great thanks!
Of course! Let me know if I can be of any other assistance. We’ll be here on the channel answering questions until 8 ET tonight!🟢
Ok thanks