Buying power represents the maximum dollar value of cash that can be withdrawn or securities that can be purchased without depositing additional funds into the account.

In a margin account, where the security purchase or cash withdrawal will result in a large negative cash position, you must first contact us to arrange a mutually agreeable debit limit based on a number of account related factors.

Buying power is calculated based on a number of different factors such as the type of account, the cash available in the account and the amount and type of securities held in the account. Buying power will fluctuate when any of these factors change, including the purchase or sale of securities and the market value of the holdings.