I want to start trading stocks. I tried to open an account on tradeking, but I was not able to because my husband works for a securities firm. The website said that they do not offer “affiliated accounts.” Are there any online stock brokers that do allow this?
Basically husband and wife are connected parties. Most people would think that the husband was ‘controlling’ the wife’s account (sorry!).
Your husband needs to inform his compliance department and request permission. Possibly they would want copy contract notes for every deal. They might wonder why you are opening an account with another securities firm when your husband works for a securities company: why not open an account with his firm? They will not like an account elsewhere trading derivatives, for example. Or if hubby is in corporate finance or a dept. where ther could be conflict of interests. There’s no way round it unless his firm agrees. I can assure you that accounts like this, and in these circumstances, are opened by spouses.
Do not do this. If your husband works for a securities firm, you just can’t “trade” stocks without risking causing him all kinds of trouble. You are unlikely to outperform any random mutual fund. Combine that with major life risk and you would have to be the dumbest or most selfish person in the world to do this (or you want to cause your husband trouble at work which would be one of those serious relationship red flags).