Margin requirement for TSLA at your broker

[dl003]

Right now I'm using IBKR. I like the features and the margin rates although I don't use much margin at all. What I don't like is how anal its margin requirement for TSLA is. Hate it. I think mine is up to 75-80% although I don't use much margin at all.
Just wanted to see if everybody knows what their broker(s) requires? I might need to switch as this is getting ridiculous. I'm using Portfolio Margin.
Looking into E*trade and it seems they have 70% as well. Can't find this information easily on the web.
Your input is appreciated!

 

[UltradoomY]

I have Schwab and it is 40% - I am 100% in TSLA shares

 

[juanmedina]

Mine at E-trade was 40% and two weeks ago they bumped it up to 50% . They did the same thing to my parents account. I am also 100 on Tesla shares and I have a standard brokerage account.

 

[nickt784]

I'm experiencing the same thing at interactive brokers right now. I just switched over to them as well. I'm super disappointed with the margin rate on TSLA stock. I should have researched this more ahead of time. I switched to them to get access to the margin loans for down the road. I might look into Schwab if its really 40 percent with TSLA.

 

[nickt784]

I have Schwab and it is 40% - I am 100% in TSLA shares

40 percent is amazing. How do you like Schwad overall? How is their trading platform / technology? Thanks!

 

[UltradoomY]

I like it a lot - street smart edge is the platform to download and it gives a lot of market data - like order flow and level 2 if you care to look at that.
They have been helpful as well when I needed to actually talk to someone.

 

[samppa]

Right now I'm using IBKR. I like the features and the margin rates although I don't use much margin at all. What I don't like is how anal its margin requirement for TSLA is. Hate it. I think mine is up to 75-80% although I don't use much margin at all.
Just wanted to see if everybody knows what their broker(s) requires? I might need to switch as this is getting ridiculous. I'm using Portfolio Margin.
Looking into E*trade and it seems they have 70% as well. Can't find this information easily on the web.
Your input is appreciated!

I'm in IB too, and using some margin. They recently announced a margin increase in accounts that have concentrated positions of TSLA. This is my trading account, so it has only TSLA and cash.
The note is kind of confusing.. if I understand it correctly, they now run a stress test on TSLA that stimulates a -50% drop in share price, and the margin requirement is whatever comes from under that test.

I did some calculations, according to those maintenance margin requirement came to about 66% and initial margin to about 72%.

Unfortunately I don't know of any other broker here in EU that will deal with us options.. so stuck here at IB.

 

[akslee]

I confirm Etrade uses 40% margin requirement for TSLA

 

[PeterJA]

40% margin requirement is great, but what is the margin interest rate at Schwab and ETrade? Will they lower it if you ask? Thanks.

 

[Featsbeyond50]

40% margin requirement is great, but what is the margin interest rate at Schwab and ETrade? Will they lower it if you ask? Thanks.

Schwab will lower if you ask. I asked and they gave me a rate of 4.75 if I remember correctly. That rate is locked in for one year. I haven't pulled the trigger yet but if I do, I probably won't keep it for more than a year since I have plenty of long term shares I can use to erase the debt.

 

[juanmedina]

I confirm Etrade uses 40% margin requirement for TSLAView attachment 652360

E-trade is 50% for me, it used to be 40%. My margin rate is 1.94%

Jason DeBolt on twitter said that he has a contact that can get you 40% margin requirement with a 1.3% interest at Schwab. I sent him a message but he didn't reply.