This might sound like a really stupid question on the surface (and maybe it is), with the economy struggling, gas at an all time high, foreclosers everywhere, etc....
I will purchase some blue chip shares and keep them for the next 5 years and will not be a frequent trader. will only invest in some select stocks with a long term horizon. Which service provider ...
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gvintel
Stock trading online question.?
Hi I am looking to start trading online. I went to scottrade because I heard they were good for new investors. But my account was denied due to the equifax report. I'm assuming its to do with my credit. I dont want to borrow money though. Just start an individual cash only account. where can I go online that wont look at my credit to start an account.
Thanks in advance.
All major brokerage firms run checks on any negative financial and trading/investment activities of their customers and on any negative history resulting from dealings with other broker/dealers or any regulatory problems that have been reported.
Also a verification is made as to the mailing address provided, the social security number given when opening an account, or any foreign involvement with banks or countries that are not acceptable by the US Government.
Brokerage firms normally do not run credit checks on their customers since the service they use provides a more comprehensive report than those supplied by credit reporting companies
You can go to Equifax and request a report BUT, verify the other information you provided on your account application, there may be something else causing this denial
You could write a letter to the compliance officer or the margin supervisor for information that was provided on the report
Alfred P
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Alexis H
Stock Picks Software is the key to success
Its maybe helpful for you.
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Vance M
Stock Picks Software is the key to success
Its maybe helpful for you.
Visit It: www (dot) financeExtends (dot) com
Ted
Any reliable place is going to check to see if you are a reliable customer. People who mess up their personal finances will probably mess up their trading account and use up a lot of expensive administrative time while generating almost no commissions because they have no money.
Tough love part: You shouldn't be trading stocks if you are already having trouble paying your bills.