posted
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
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posted
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.
Posts: 487 | From: Northeast Ohio | Registered: Oct 2004
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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.
posted
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
Posts: 50 | From: St. Louis, MO | Registered: Sep 2004
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posted
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
Posts: 487 | From: Northeast Ohio | Registered: Oct 2004
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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.
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