I use Amscot and NAB. Service at Amscot is great, but I dont use margin - I trade out of my own 'cash settled' account.
Many risks with margin imo, and I don't know why anybody needs it. The main one being - if you trade on credit, then it is likely the stock is not held in your name, as it is not 'your stock' (bacause your loans are secured against it) and then if the stock is not in our name, you will be exposed to the risks of the entity whos name it is registered in.
Are people tempted to trade on margin because they are greedy and think they can make money faster?
You don't need margin to make good returns on the market, but you do need margin if you are ever able to be forced into liquidation after making a mistake.
