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MPFC

CMEG - Margin

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Hello All,

It looks like our friends at CMEG are having some ClearingHouse issues.

A ton of tickers have 100 - 75% margin requirement.

If this continues, I have a feeling they will go out of business.

No more 6:1 margin on $500 accounts!

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For under $500 absolutely, it's always been that way. But for over $500, specifically $2500, it's been 6:1. That is no longer the case. Accounts over $2500 no longer have 6:1 leverage

CMEG 2.png

CMEG.png

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Just closed my account with CMEG. This shuts off my DAS/trading setups.  Not setup to trade at IB  or any prop firms. Have some amazing custom software setups with subscriptions that I will have to shelf.. Ugh (BBT/Trade-Ideas / Tradingview). Best of luck to all the great folks here and there trading.  Keep it GREEN!!

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17 hours ago, mortforshort said:

Just closed my account with CMEG. This shuts off my DAS/trading setups.  Not setup to trade at IB  or any prop firms. Have some amazing custom software setups with subscriptions that I will have to shelf.. Ugh (BBT/Trade-Ideas / Tradingview). Best of luck to all the great folks here and there trading.  Keep it GREEN!!

Thks for the heads up..  Wht is the objective of CMEG with this new position ?  Do they want traders to increase the size of the accts ? Is it that they need assets (i.e funds in the traders acct) to justify being a broker ?  Maybe its better they issues a doc with tickers that give the 6:1 margin.

Can u post the doc here ?

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Yeah this has really stung my ability to scale up. I'm hoping the margin req increases are short-lived, so I'm willing to wait until end of August otherwise I'll be looking for alternative brokers/options. 

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I just signed up for CMEG and saw this Margin Restriction list. I’m now hesitant to commit.

Is this the norm?

Is it still possible to profit (significantly) with so many stocks’ margin requirement at 100% (some even 125%)?

Seems like it would be hard to scale up.

(This would be my first live trading account, so my experience has been limited to SIM up to this point.

I’m not aware of any other reputable broker for traders with <25K.)

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They claim to have made adjustments/improvement to it starting today.   I have not been able to confirm if it has an improvement. 

A few of the tickers are not as low as before for some tickers but have not made a comprehensive examination inside DAS.

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I’ve just finished trading today and the margin requirements looked to back to normal, around 17%. So I was able to scale up and trade just fine 

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1 hour ago, wicket66 said:

I just signed up for CMEG and saw this Margin Restriction list. I’m now hesitant to commit.

Is this the norm?

Is it still possible to profit (significantly) with so many stocks’ margin requirement at 100% (some even 125%)?

Seems like it would be hard to scale up.

(This would be my first live trading account, so my experience has been limited to SIM up to this point.

I’m not aware of any other reputable broker for traders with <25K.)

It’s not normally like this and CMEG have had the feedback it’s not acceptable and reverted back (from the tickers I trade). 

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The list which they posted a few days ago has gone down to 12 pages....from 60...

So, some tickers are still restricted (AMD @ 60% QQQ @ 100% etc) but a lot are back to 16% (NVDA, AAPL, OXY, NIO etc) 

I was able to trade NVDA with full margin today...I hope it stays like this.

 

Edited by MPFC

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