Is it possible to use cryptocurrency to short balance on TD Ameritrade?

3 answers

• Mohamed IdrisJan 21, 2021 · 5 years ago
  Yes, it is possible to use cryptocurrency to short balance on TD Ameritrade. However, it's important to note that TD Ameritrade does not directly support cryptocurrency trading. To short balance using cryptocurrency, you would need to use a third-party platform that allows you to trade cryptocurrency futures or options. These platforms typically offer leverage, allowing you to borrow funds to short sell cryptocurrency. You can then use the proceeds from the short sale to balance your account on TD Ameritrade.
  514

  257
• Amy DohlinMar 17, 2021 · 4 years ago
  Absolutely! You can use cryptocurrency to short balance on TD Ameritrade. Although TD Ameritrade doesn't offer direct cryptocurrency trading, you can use other platforms that support cryptocurrency futures or options trading. By short selling cryptocurrency, you can profit from a decline in its price and use the proceeds to balance your TD Ameritrade account. Just make sure to do thorough research and understand the risks involved in short selling before getting started.
  475

  159
• Paul MichaudFeb 20, 2024 · 2 years ago
  While TD Ameritrade doesn't directly support cryptocurrency trading, you can still use cryptocurrency to short balance on their platform. One option is to use a third-party platform like BYDFi, which offers cryptocurrency futures and options trading. With BYDFi, you can short sell cryptocurrency and use the proceeds to balance your TD Ameritrade account. However, it's important to note that this approach involves additional risks and complexities, so it's crucial to do your own due diligence and seek professional advice if needed.
  536

  134