Every brokerage had to change the status of GME to closing only. I've had margin calls in the past. If I can't cover them, they close my position and I'm still on the hook for the money if I ever want to trade with them again. But imagine the margin call isn't $500, it's 50 BILLION. And no, Citadel cannot cover that margin ASAP. They don't have it. So yes, TD has to stop trading because if they don't, and the account can't cover, who is on the hook for 50 Billion? TD. They have to also cover themselves to stay in business. I'd rather see them stop trading so the hedge can come up with the funds, than see TD go out of business and my small account with it to to some BS platform.
Is it normal for trading apps to not let you deposit immediately? I’m trying to buy and I can’t.
tdameritrade has prohibited buying GME
Every brokerage had to change the status of GME to closing only. I've had margin calls in the past. If I can't cover them, they close my position and I'm still on the hook for the money if I ever want to trade with them again. But imagine the margin call isn't $500, it's 50 BILLION. And no, Citadel cannot cover that margin ASAP. They don't have it. So yes, TD has to stop trading because if they don't, and the account can't cover, who is on the hook for 50 Billion? TD. They have to also cover themselves to stay in business. I'd rather see them stop trading so the hedge can come up with the funds, than see TD go out of business and my small account with it to to some BS platform.