I'm in Canada, and encountered something very strange in the last few months: my mother and I each opened an individual (not joint) discount brokerage account at HSBC InvestDirect. We both deposited $100 000 into our respective accounts, and both claim to have limited experience trading options (she never traded options and I've been doing it occasionally for a year). My mother's credit history is limited and so maybe has an incomplete credit file (she has been using a credit card for 5 months and always paid the balance in full the day the statement came out. She is employed full-time at a minimum wage job and I'm unemployed and have an Equifax score of 730-ish with $0 of debt. I was given a cash account, which means I'm not permitted to trade any options (including covered calls or long calls/puts, and I don't understand why these trades need margin) while she was given a margin account with short selling/options trading enabled. The people at the bank refused to acknowledge the fact that I'm denied a margin account because I'm unemployed, just saying that it was not approved.
Question is, what should I do? I'm pretty much never going to get a job, but will it increase my chances if I somehow manage to turn a huge profit in my cash account? The people at the bank said I could reapply for options trading after 6 months......