To suit your investing goals and needs, you can trade in a margin account or a cash account. Keep in mind, there are some key differences between them. Check out the following comparison table.

• Trade with unsettled funds from stock and option sales. You don’t have to wait for funds to settle (1 trading day for stocks and options).
• Access margin investing. If eligible, you can enable margin investing and get more buying power.
• Access Level 3 options trading. If eligible, you can trade multi-leg options, like spreads.
• Futures trading. You can trade futures with a margin account if you’re approved for options investing approved or margin investing is enabled.

• No trading with unsettled funds from stock and options sales. Stocks and options take 1 trading day to settle.
• No options rolling. Cash accounts can’t simultaneously close an option and open a new one.
• Futures trading. You can trade futures in a cash account if options investing is enabled.

Margin investing involves the risk of greater investment losses. Before using margin, customers must determine whether this type of strategy is right for them given their investment objectives and risk tolerance. For more information, review our Margin Disclosure Statement.

Futures, options on futures and cleared swaps trading involves significant risk and is not appropriate for everyone. Carefully consider if it's appropriate for you in light of your personal financial circumstances.

Review the Futures Risk Disclosure Statement prior to trading futures products, and review the Event Contract Risk Disclosure for more information about the risks associated with forecast event contracts.