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Mack
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I use mytradz.com to trade but they want $24,000 in your account to be able to day trade penny/micro stocks, Is there another penny-micro trade site that you dont have to have a huge amount of money to daytrade???
Posts: 939 | From: hampton,va. 23666 | Registered: Oct 2004  |  IP: Logged | Report this post to a Moderator
MxPx
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I think its a rule that you must have atleast 25k in your account to daytrade but I think you can still buy and sell the same day just as long as you don't do it more than 4 times during a 5 day trading period.
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Mack
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K- tanks for the info
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MxPx
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Your welcome Mack
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L Cypher
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quote:
Originally posted by Mack:
I use mytradz.com to trade but they want $24,000 in your account to be able to day trade penny/micro stocks, Is there another penny-micro trade site that you dont have to have a huge amount of money to daytrade???

I'm planning on trying Alliance Investment for the direct access platform. They don't have daytrading restrictions. You can open an account for $500 minimum. Let me know how it is if you try it.

http://www.alliancetrader.com/index.html
---

Lou


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bigeyedfish81
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Alliance charges $24 for otc exchange trades...kinda steep for my taste although you do get a pretty good trading platform for free when you make more than 15 trades a month. I guess it kinda pays for itself.

--jne


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MxPx
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Ok I just checked with Alliancetrader and you do not need the 25K to daytrade. They told me they are not a NASD member firm so in other words there are no restrictions. Sorry to have said 25K
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L Cypher
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quote:
Originally posted by bigeyedfish81:
Alliance charges $24 for otc exchange trades...kinda steep for my taste although you do get a pretty good trading platform for free when you make more than 15 trades a month. I guess it kinda pays for itself.

--jne


I called Alliance and they told me the regular commission schedule applies to OTC stocks, starts $12.95 and goes down progressively the more you trade.

Hope this helps. - Lou


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Mack
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tanks for all the info, ill ck it out---sounds good!!!!

------------------
SMACK...


Posts: 939 | From: hampton,va. 23666 | Registered: Oct 2004  |  IP: Logged | Report this post to a Moderator
   

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