Help! TDAmeritrade Saying As Resident in Germany I Can Only Have a Cash Account!!!

[philmg 10]

Hi, I am wondering, if any of the non-US residents here have an account with TDAmeritrade and are on margin. Also they told me I can only have option tier 2 approval as foreign account holder, not tier 3.

 

Please, tell me it must be a misunderstanding. they are messing up my whole strategy concept, if that's true.

 

thanks for advice!

 

Best regards

PMG

[sweet n´sour 10]

Unfortunately it is true! I started out with a ThinkOrSwim account, with margin and everything. Then TOS was sold to TDAmeritrade and for some time everything was fine. But suddenly they changed their policy and I lost my margin status and with it the ability to trade futures, forex and option strategies. I still can buy stocks, call and put options. But that´s it. No spreads, no futures and no forex. It is a shame! :crap:

 

As alternative to the good option platform you could try Tradestation (with option station), or try InteractiveBrokers together with the new Esignal Option Analytics platform. That´s expensive compared with free TOS, but it´s a solution.

[philmg 10]

That's really a shame. They are much more restrictive than others. I have a tradestation account and am margin and option level 5 approved. However, due to the cost of it and the functionality of TOS and Dough I wanted to switch to TD.

 

Damn it!

 

I will try out IB and if they don't give me margin and full options approval, I guess I would just stay with Tradestation.

 

Thanks for your comment!

Best regards

Phil