Before applying for a margin account, you should determine whether trading on margin is right for you given your specific investment objectives, experience, risk tolerance, and financial situation. For more complete information, please read the FINRA Margin Disclosure Statement.
Trading on margin is only for sophisticated investors with high risk tolerance. You may lose more than your initial investment. A decline in the value of securities that are purchased on margin may require you to deposit additional funds to your trading account. Morgan Stanley Smith Barney LLC can force the liquidation of any securities in your account without prior notice if your equity falls below required levels, and you are not entitled to an extension of time in the event of a margin call. Please read more information regarding trading on margin at

You will be charged interest on a daily basis on all credit extended to you. The base rate is set at E*TRADE's discretion with reference to commercially recognized interest rates such as the broker call loan rate. Base rates are subject to change without prior notice including on an intraday basis. For additional information and a detailed explanation of the computation of interest charges applicable to debit balances and margin accounts, please refer to the Margin Account Supplement in your Client Agreement or the E*TRADE website at

The minimum account equity requirement for a Regulation T ("Reg. T") margin account is $2,000. Portfolio Margin is available only to experienced investors with (i) a minimum account equity of at least $100,000 (which must be maintained in the account at all times), and (ii) Level 4 options trading approval.

Purchasing Power and Available for Withdrawal values shown for margin accounts are calculated based on market quotes and may lag the current market by up to 30 minutes.