I recently opened an account with Scottrade b/c it would be cost-prohibitive to trade micro's with my traditional brokerage, but have come accross a problem: I have no prblem executing buys, but they don't seem to like to execute my sell orders. I know that the volume these stocks trade is enormous, but that should not be an issue, since each trade is considerable larger on average than an average NASDAQ NM or NYSE trade- while the number of shares is higher, the number of actual trades is comparable to the most actives on the big boards, and I have never had a problem trading the most actives on those. My limit orders are within the parameters of the stock, and I am just wondering if anyone else has had a problem similar to this with Scottrade. Any replies would be deeply appreciated.
Posted by bauer on :
scottrade sucks for microcap also. use lowtrades or freetrade. They are slow sometimes, depends on the stock. I found putting a limit order with "all or nothing" helps getting it done quicker at times.
Posted by WWJD-thru-me on :
Have to agree with the Scottrade comment above. I have Scottrade, Freetrade and Etrade and like Free and E for pennies. Even though Free is Free there is something to be said for Etrade. I was having a problem with getting some Pink sheet buys executed at a good price at etrade, complained by email (about watching buys going thru at my price and getting passed over and the price now 2 ticks away)and 'miraculously' the price was dipped and executed. It could have been a coincidence but I think they want to make their customers happy. -Debi
Posted by GHOST on :
Zeker: I can't believe you would have problems with Scottrade on executing orders, but the statements above are pretty correct about using Scottrade for pennies. If you don't have enough to open an account with FREETRADE.COM http://www.freetrade.com I would go with trading direct. I was with this one company that charged just $5.00 a trade, but they ate me up with misc fees which came out sometimes to be MORE than what scottrade charges. I'm NOT MENTIONING the COMPANY!! (2posts above)