What needs to be done to get a margin account? Merely a phone call? Do I have to put my house up? Since I haven't used a credit card in 8yrs. or so I'm sure my credit rating is not very high, if not non-existant. A curse of not adhering to the system. For the time being I'll go about my business as usual. Ignorance is bliss.
Most brokergaes will require you to complete a form that shows your assets/liabilities, ability to cover losses to your account, etc. They will likely conduct a credit check. Takes a week or so to get set up.