25k needed to trade in ThinkorSwim?

Lukhy11

New member
2019 Donor
VIP
Hi, I have a TD Direct account in Canada and using thinkorswim for my trading my question is today I tried to buy an option on SPX I got a message that said rejected: option trading is not allowed on this account. Any other Canadian’s having this problem? I asked support and they said that I need 25k in account to be able to trade US options going forward even though I’ve been with them over 10yrs.
 

rad14733

Well-known member
VIP
Option trading is not automatically available in Thinkorswim by default... You have to login to tdameritrade.com > Client Services > General and click Enable next to Option Trading... With a cash account, which is all I will ever trade, you can day trade as many instruments as you can with your available cash balance... I wasted a lot of profit when I first started because I wasn't initially aware that I didn't have to hold my trades overnight so as not to be in violation of the Pattern Day Trading rule... If you want to day trade on margin you need to maintain the $25,000 minimum as federally required... When I called about trading options they simply walked me through what I stated above, but they are very helpful if you've never called them... Hope this helps...

Edited to add: You would also receive a similar error trying to trade options on the tdameritrade.com site if the setting is disabled...
 
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Lukhy11

New member
2019 Donor
VIP
@rad14733 This is a Canadian TD Account we don’t have that option to select or disable option trading but I’ve been trading options using thinkorswim for over 10yrs never got that message about no option trading in this account
 

rad14733

Well-known member
VIP
@rad14733 This is a Canadian TD Account we don’t have that option to select or disable option trading but I’ve been trading options using thinkorswim for over 10yrs never got that message about no option trading in this account
Please keep us posted on what you discover from TD Ameritrade... I've observed several quirks with the platform after updates...
 

Lukhy11

New member
2019 Donor
VIP
Hi members I just went to TD bank and asked about the problem I was having trading options in my thinkorswim platform TD said any Canadian’s using thinkorswim must have 25K minimum in account to be able to trade US options as of Jul 17th, you can trade stocks but not options.
 
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