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Author Topic: Best broker for trading OTCBB & Pinksheets?
Fuzzy1018
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help me here, i need to switch to a new broker , any thoughts for a good and cheap broker?

Thank you all in advance

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Mu Meson
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#1 etrade

#2 ameritrade


expect to be wiped out.....

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T e x
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choicetrade--allows stop-limit orders on pennies, pretty cheap commish. You'll need streamers from somewhere, though. Check out Lowtrades, too.

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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Fuzzy1018
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thanks every1
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10of13
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quote:
Originally posted by BuyTex:
choicetrade--allows stop-limit orders on pennies, pretty cheap commish. You'll need streamers from somewhere, though. Check out Lowtrades, too.

If you have choicetarde...you can get their streamers for about $20-40 a month...and when you ad up the difference in the fees for each trade...you end up ahead of the game...by far!

I am "moving" from Etrade...with the pennies...to choicetrade...I think etrade is too high and horrible when it comes to the pennies....but "OK" with the actual "investing"

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#1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!

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FIST13F
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As a newbie, E trade is killin me. 13 a trade and they dont list bid and ask on stocks under 10 cents on real time data. I only have a basic account but on the real time data unless you are in a stock over 10 cents you cant tell if the percentage is a positive or a negative, it's just black not red or green. It has been killin me. Just thought i would share/vent/rant. What does choice trade charge anyways?
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GreenBaronZ
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I have Scottrade and I cant buy some of the subpenny stocks and it pisses me off. Anyone here know a good broker that allows me to buy any penny stocks? and has l2 quotes? with a low fee? If so, how much?
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10of13
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Once you have 30 trades for the quarter with Etrade...you get their L2's for free...and they now have the pinks..also your trades will go down to 9.99...but they are still "bad" when you have issues with the trades...they don't seem to fill like other brokers do...and I have gotten some pretty lame excuses as to why from them...I was told that choicetrade would be $20.00/ month for their "real time L2's"...$220 more for the pinks...It's still a Huge difference from using etrade!

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#1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!

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Squire38
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ChoiceTrade = $5 per trade.
Alphatrade = about $50/month for L2 quotes (pinks and OTCBB), news, charts, etc.

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Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes.

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Mu Meson
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ameritrade works great!

$10 a trade now.

I get fills pretty fast and i know faster than etrade.

Lots of great realtime software when at the apex level.

Even for pinks i get real time L1 data, but not L2s for pinks. For OTCBB real time L2s, up to 3.

I love the actives and "Last Trade" screens. Very real time.

I rarely have problems with the java apps but there are a few minor bugs.

I can put in a trade in 1 sec flat.

And ameritrade is by far the best for getting divies of any kind. Getting a div first can give you a big edge.

Only bad is that etrade pro has L2s for pinks now.

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superman7
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i just posted this same thread or similar thread a few days ago here is the thread link(hope it helps) and oh yeah etrade sucks!!:

http://www.allstocks.com/stockmessageboard/cgi-bin/ultimatebb.cgi/ubb/get_topic/ f/8/t/021065.html?

i am going to leave etrade soon and i just told them this yesterday

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please dont trade stocks on my alerts, do your dd first.

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Thorn
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I'm trying to understand why etrade would be considered better than ameritrade. etrade costs more for one thing.

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May your trading build your character as well as your portfolio.

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10of13
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quote:
Originally posted by 10of13:
Once you have 30 trades for the quarter with Etrade...you get their L2's for free...and they now have the pinks..also your trades will go down to 9.99...but they are still "bad" when you have issues with the trades...they don't seem to fill like other brokers do...and I have gotten some pretty lame excuses as to why from them...I was told that choicetrade would be $20.00/ month for their "real time L2's"...$220 more for the pinks...It's still a Huge difference from using etrade!

OOps..I meant $20 more a month for the Pinks..not $220...Sorry... [Big Grin]

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#1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!

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T e x
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quote:
Originally posted by Mu Meson:
ameritrade works great!

$10 a trade now.

I get fills pretty fast and i know faster than etrade.

Lots of great realtime software when at the apex level.

Even for pinks i get real time L1 data, but not L2s for pinks. For OTCBB real time L2s, up to 3.

I love the actives and "Last Trade" screens. Very real time.

I rarely have problems with the java apps but there are a few minor bugs.

I can put in a trade in 1 sec flat.

And ameritrade is by far the best for getting divies of any kind. Getting a div first can give you a big edge.

Only bad is that etrade pro has L2s for pinks now.

divvies re A-trade: true, at least historically. Scottie cost me 30k by not delivering f/s shares while A-traders were banking at the ratio of 50 to 100 bucks gets you 15 to 30k.

However, A-trade may not continue to be so, shall we say, generous....

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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tech9
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Ameritrade allows trade of all penny stocks?
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JoeMillion
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etrade.com
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greenman
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Lowtrades. $2.99. Not the best site but its cheap. They say free streamer but I haven't tried it, I use Scottrade for streamer.
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AgentGPF
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I use Choicetrade and pay for the real-time L2 and streamer.

$20 streamer, $10 realtime L2 for everything BUT pinks, there is no pink quoting so I use pinksheets.com coupled with watching buy/sells in realtime through my streamer. I often trade between the bid/ask anyway. [Smile]

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Well done is better than well said. Ben Franklin

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camellio
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is interactive brokers any good with pennies?
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10of13
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Agent...I just got this email from choicetrade:

Yes we do have L2 and separately L2 for PKs as well.
To get L2
you have to subscribe to ChoiceStreamer. The monthly cost is as follows:
ChoiceStreamer - $20
PK L1 - $3
L2 - All stocks except PK - $10
PK L2 - $10

That was the info that they emailed me...Do they not have L2's for PK?

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#1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!

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T e x
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quote:
Originally posted by camellio:
is interactive brokers any good with pennies?

sorry, not quite following your question...are you asking about online brokers, such as Choicetrade, Ameritrade, Scottrade, etc?

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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Green_effect
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hey guys, I'm a newbie in this and I'd like to know what L2's is and is this the same as the streamer provided by scottrade? how can I use L2's to make profit in daytrading?

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Please do your DD. Break some bread with me!

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T e x
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what you "normally" see, the quote, last price, bid/ask etc is Level 1; Level 2 shows the market makers' positions at both bid and ask, so you can see who's buying and selling, at which prices. You can also see when they move around. Altogether, provides insight into chances for a run up or a drop down...

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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mjm2005
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quote:
Originally posted by Mu Meson:
ameritrade works great!

$10 a trade now.

I get fills pretty fast and i know faster than etrade.

Lots of great realtime software when at the apex level.

Even for pinks i get real time L1 data, but not L2s for pinks. For OTCBB real time L2s, up to 3.

I love the actives and "Last Trade" screens. Very real time.

I rarely have problems with the java apps but there are a few minor bugs.

I can put in a trade in 1 sec flat.

And ameritrade is by far the best for getting divies of any kind. Getting a div first can give you a big edge.

Only bad is that etrade pro has L2s for pinks now.

I was starting to wonder why people weren't mentioning Ameritrade yet. I think it's great. Apex is pretty cool too (their service for active traders--- 5 trades a month)

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Remember two things:
You love New York City
and leave only your footprints.

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skip
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quote:
Originally posted by Squire38:
ChoiceTrade = $5 per trade.
Alphatrade = about $50/month for L2 quotes (pinks and OTCBB), news, charts, etc.

This is the combo I use and I am very happy with both services.
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Green_effect
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does anyone know if scottrade offers L2's , and if they do does it come with their streamer or is there an extra charge for this?

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Please do your DD. Break some bread with me!

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T e x
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Scottrade Elite, $25k account...

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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Green_effect
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I have scottrade and I dont have $25k to invest in stocks now.....does anyone know any company that offers the software for download at a minimal fee?

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Please do your DD. Break some bread with me!

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camellio
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quote:
Originally posted by BuyTex:
quote:
Originally posted by camellio:
is interactive brokers any good with pennies?

sorry, not quite following your question...are you asking about online brokers, such as Choicetrade, Ameritrade, Scottrade, etc?
no i mean "Interactive Brokers" [Razz]
are they good for penny stocks?
http://www.interactivebrokers.com/

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T e x
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don't know...quick scan of their site doesn't show me they trade pennies; I don't like the percentage-based commish, either. But other aspects seem impressive at first glance...

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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trade04
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scottrade gives quotes for pinks and otc and lets you trade them also, what are you talking about?
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AgentGPF
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quote:
Originally posted by 10of13:
That was the info that they emailed me...Do they not have L2's for PK?

From what they are telling you, yes they do - its just more fees. I dont have L1s for pinks either, and now I see why. [Smile]

Pinksheets.com is not always actively quoting (goes down sometimes) but its free!

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Well done is better than well said. Ben Franklin

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AgentGPF
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quote:
Originally posted by camellio:
no i mean "Interactive Brokers" [Razz]
are they good for penny stocks?
http://www.interactivebrokers.com/

Read what they do, percentage based fees suck. If they charge fees by how many shares you sell/buy, that would likewise suck. If you had to pay a penny a share for trades over 5000 for example, imagine the cost of buying 25 million shares of a stock at .0003, you'd be screwed.

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Well done is better than well said. Ben Franklin

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Machiavelli
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Choicetrade.com hands down is the best for pennystocks of all $$ denominations.. as for live streaming/L2's etc... most of us here work dayjobs so it is unecessary to have that since we are not in front of a computer 24/7 to be doing any daytrading on a day in and day out basis.. swing/position trading is just as profitable if not more profitable over the long run... people who attempt daytrading more or less are gamblers.. they need "action" all the time much like a amateur sportsbettor who needs to bet every game or every day... anyways Choicetrade.com is $5 commission for all stocks including micro pennies with stop/losses on all stocks if you choose to use them.. and $20 a month for L2's etc. is not that much if you get good at trading stocks... and that $20 per month is most likely tax deductible at the end of the year.. anyways i had my say and im sticking to it lol ....

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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Rosecora
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quote:
Originally posted by tech9:
Ameritrade allows trade of all penny stocks?

Yes, as a limit trade, not a market.
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