What's your broker's margin interest rate?

IHAVEAQUESTION

Golden Member
Nov 30, 2005
1,058
0
71
10% interest rate for account balance less than $10,000 for scottrade, what about yours? I think i will be better off just taking out loan at 5% and deposit into my scottrade account. I mean why would anyone trade on margin when the interest rate is so high? I don't get it.
 

quikah

Diamond Member
Apr 7, 2003
4,068
649
126
Stock sale takes a few days to clear, so your money is tied up until then. This doesn't happen with a Margin Account.