Scottrade Margin Calls

[LemonButt]

I had one last week and I sold my positions so I was 100% cash on Friday and bought a $12 stock (not on their exception lists) and my account page said I had another $100 in cash left, $200 in buying power. I bought the stock at 11.90 on Friday and it closed at 12.16 for a gain. I log into my account this morning and it says my cash and buying power is $0 and I've got a margin call for $431 now. I do have a margin account (obviously) and I'm not sure why this is happening. Has anyone had this happen to them before and know why or how to fix it? I called Scottrade last time and they said don't worry about it, but it was nowhere near $431 last time.

[skiracer]

I had one last week and I sold my positions so I was 100% cash on Friday and bought a $12 stock (not on their exception lists) and my account page said I had another $100 in cash left, $200 in buying power. I bought the stock at 11.90 on Friday and it closed at 12.16 for a gain. I log into my account this morning and it says my cash and buying power is $0 and I've got a margin call for $431 now. I do have a margin account (obviously) and I'm not sure why this is happening. Has anyone had this happen to them before and know why or how to fix it? I called Scottrade last time and they said don't worry about it, but it was nowhere near $431 last time.

i dont know how scottrade works their margin accts or what you pay in commissions but you should take a look at options express. i see people all the time having problems with their online brokerages in one way of another. I can honestly say that i have never had a dispute or a problem of any kind with options express and i trade pretty big numbers and have a large amount of money in my trading accounts. never have had any type of problem in years of trading.

[yoyomama]

I had one last week and I sold my positions so I was 100% cash on Friday and bought a $12 stock (not on their exception lists) and my account page said I had another $100 in cash left, $200 in buying power. I bought the stock at 11.90 on Friday and it closed at 12.16 for a gain. I log into my account this morning and it says my cash and buying power is $0 and I've got a margin call for $431 now. I do have a margin account (obviously) and I'm not sure why this is happening. Has anyone had this happen to them before and know why or how to fix it? I called Scottrade last time and they said don't worry about it, but it was nowhere near $431 last time.

I dunno...but they don't recalculate the Margin Call Status until the next morning I believe.