What is the minimum deposit required by FINRA to open a new margin account?
- A$2,000, unless the purchase is less✓ Correct answer
- B$500
- C$25,000
- DNo minimum required
Why A — $2,000, unless the purchase is less
FINRA generally requires at least $2,000 for a margin account, or full payment if the purchase costs less. The $25,000 figure is the legacy pattern-day-trader minimum, not the general margin-account minimum. FINRA Regulatory Notice 26-10 replaces the legacy day-trade count and $25,000 pattern-day-trader minimum with intraday margin standards. The amendments became effective June 4, 2026; firms may phase in implementation until October 20, 2027. During the transition, a firm that has not implemented the new standards may still apply the legacy requirements. This does not mean all firms have already removed the $25,000 requirement.
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