TD Ameritrade Margin Account

[MasonK]

I've had my TD account for 8 years, but I have always run a cash account. I was thinking about moving up to a margin account, but I can't tell if that is a hard pull or not. I've looked through these boards, Reddit, and the interwebz to find a lot of different information depending on when the post was made. Posts from 2015 and before say no; 2015-2018 seem to say yes, but no... (posts edited to say no). And then I found one article saying YES from 2019, but no independent confirmation.

Has anyone recently opened/upgraded to a margin account with TD? Did you take a HP? 

[VPExecutive]

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@MasonK wrote:

I've had my TD account for 8 years, but I have always run a cash account. I was thinking about moving up to a margin account, but I can't tell if that is a hard pull or not. I've looked through these boards, Reddit, and the interwebz to find a lot of different information depending on when the post was made. Posts from 2015 and before say no; 2015-2018 seem to say yes, but no... (posts edited to say no). And then I found one article saying YES from 2019, but no independent confirmation.

Has anyone recently opened/upgraded to a margin account with TD? Did you take a HP? 

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I don't have much experience with TD Ameritrade, but I can tell you since a margin is bascially you borrowing from the securities you own, there's most likely not a hard pull involved. 

My advice is to not worry about the one hard pull if there is one. 

[MasonK]

And that's my thinking, too- I assume it would have to be a HP, but I've seen so many posts saying that it wasn't. I just couldn't wrap my head around how extending 2-4x leverage couldn't be a hard inquiry.

I'm assuming it will be; if I do apply for it, I'll update this as to what I run into.

[Anonymous]

Can confirm opened in March w/ tier 2 options and no HP

[Anonymous]

@MasonK 

As a fellow TD Ameritrade member (soon to be Schwab later this year), I can

confirm that last week I upgraded my TD cash account to an options and margin

account with absolutely no hard pull whatsoever. All I had to do was answer

some questions about options experience, net worth, etc. My credit was not

negatively impacted at all. No hard pulls from TD Ameritrade and/or TD Bank.

[Phoenixupward]

I recently opened a margin account with TD Ameritade and it wasn't a HP.  

[MasonK]

Thanks for the responses!

I did finally pull that trigger and can also confirm what everyone else said- that the margin account was, in fact, not a hard pull.