Posted by forex at 9:51 AM
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1. Call Scottrade immediately to confirm that you have received the margin call and to verify the amount of money needed to meet the margin requirements. Margin calls may come by mail, email or over the phone. It is important to acknowledge the margin call with Scottrade as soon as possible to avoid the broker taking action without your knowledge or input.
2. Decide whether to add money to the account to meet the margin requirements or to sell securities to reduce the amount of the margin loan. The decision should be partly based on the amount of the margin call and what you think about the future prospects of the securities in your Scottrade margin account.
3. Wire the funds to meet the margin requirement to Scottrade or enter sell orders for the selected securities. Wiring money is the fastest way to get money into your account. Wire instructions for Scottrade are linked below. Ensure that your account name and account number are included in the wire details.