What is a marginable security?
When reviewing your margin account, your marginable assets may be different from your overall portfolio balance. Your total marginable assets are based on cash in your account as well as marginable securities. A marginable security is most stocks, ETFs, and bonds, which are able to be traded on margin.
There are two most common reasons a position may not be margin-eligible:
The position may not be marginable. For example, cryptocurrency, OTC Stocks, and or penny stocks (valued at less than $5 per share) are not typically considered marginable.
The position may be held in a separate account. Only securities held in your primary brokerage account can be used as collateral for a margin loan. This means accounts like your Treasury Account, Bond Account, or High Yield Cash Account.