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Question: Can i get a broker account to invest in stocks with bad credit?

(Posted by: financially set on 2010-03-11 00:32:02)

Can i get a broker account to invest in stocks with bad credit? I tried with scottrade online and it said no i cant have one....why not?

Answers:

Posted by: Edwin on 2010-03-11, 00:48:36

No. I have never heard of such a thing unless they started doing that recently. They do have certain conditions which have to be met and a good credit score is not one of those conditions. Do a research on other online brokers and see what you get.

Posted by: Space Invader101 on 2010-03-11, 02:36:14

Depends on whether you want to open a margin loan account or a cash account. If you 're buying shares purely with your own money and not on credit, there might be a broker since you wouldn 't be putting them at risk.

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