Hey all it's me again. I spent about 6 hours today tring to find the best site to trade in Penny Stocks. Scottrade seemed to be the cheepest, does anyone have a better one they know of. I do not want to pay alot for commissions.
------------------ It's never a bad day if you can wake and tell someone about it.
Posted by jimbo on :
DJ,
There have been many threads on this detailing the differences. I use lowtrades.com which is $5 per trade. However, they do have a 0.0001 fee per share for 100,000 for trades. Others that I know of are:
choicetrade.com tradersdirect.com freetrade.com those seem to be the cheapest. I don't know how fast at getting the trade through they are though. Lowtrades is pretty good. I have an etrade account also that I use the live streaming quotes there. the stock ticker from lowtrades seems to be a little behind (several min) and they do not go but two numbers behind the decimal point. However, you can trade that. Lowtrades has a free streaming quotes too, but I haven't tried it out. If you are looking for Level II also, I can not help you there.
Hope this helps,
Jimbo...
Posted by Booty Quest on :
Actually, Scottrade is one of the worst (most expensive) for penny stocks!!! I keep them for their streamer, but I just signed up with Freetrade for penny stocks. You can wire money tomorrow and trade the next day. Minimum $5,000 to start. You get 20 free trades EVERY month! I love it! If you want their streamer you pay extra. They are a part Ameritrade. I was paying over $50 a trade with Scott!
Posted by CS on :
I am using Choicetrade. Very happy with them! I transferred all my stocks that I had with Fidelity to them too! Any questions just give them a call! All trades $5 unlimted shares! I called all of the above and I felt Choicetrade was the best deal and service! i was right! If I had any problems I called them and they were taken care of ASP!
Posted by STAR GAZER on :
Scottrade is so bad, that I no longer use it for penny stocks, let alone stocks that go for less than a penny. If a stock does not have a quoted bid/ask price (and many of the penny stocks don't) then Scottrade, makes me buy them through a broker. Not only do I have to call and take the time to talk to him/her on the phone, they also charge an extra fee, because I went through the broker instead of doing it via the computer. I now use Ameritrade, and they let me buy stocks that don't have a bid/ask quote.
Posted by ScottyTooHottie on :
FREETRADE, Without a doubt the best
* First 20 trades EVERY MONTH FREE
* Next 50 or so trades $3
* Next 50 or so $2
* Any trades after that $1
* Never any extra fees for buying penny's
Posted by djseoane on :
Wow, all thanks for the great responce. I am a first time invester and today was my first time posting on this web site. I would have to say you all are an impressive group. One last thing though, how do I get the 60sec refresh to stop when I am trying to view my penny stocks??? Ugh it is driving me crazy...
Sincerly,
djseoane
------------------ It's never a bad day if you can wake and tell someone about it.
Posted by CS on :
Re Freetrade.You can't call them. Any problems only online contact and you have to pay for quotes if I am correct!Also to qualify you must be have active trading for 2 years. So consider all this! I want no hassles and that is what I got at Choicetrade but do what ya feel is best!
Posted by ScottyTooHottie on :
True you don't talk to people. You email them and they always email back within 24 hrs. Quotes? Not sure what you mean. I subscribe to level 2 for $14.99 per month. So far this year, I have made 110 trades. 110 * old broker ($10.99 per trade) = $1318.80 in commission fees. Freetrade 120 total trades with first 20 free every month = 5 months * 20 = 100 free trades 120 total trades - 100 free trades = 20 trades * $3 =$60 That's right, I have saved $1258.80 ($1318.80 - $60.00) this year in commissions already. So I don't get to talk to a real person. Big deal, I would rather have the extra $1200.
quote:Originally posted by CS: Re Freetrade.You can't call them. Any problems only online contact and you have to pay for quotes if I am correct!Also to qualify you must be have active trading for 2 years. So consider all this! I want no hassles and that is what I got at Choicetrade but do what ya feel is best!
Posted by user095263 on :
I like the easy & straightforward Ameritrade. Flat fees, free real-time streamer that I haven't had any lag with, and quickly executed trades. You can sign up online, transfer money via electronic transfer (I hate paperwork)and the user interface is very clear.
I'm also all about customer service, and their phone is answered by a knowledgeable person 24/7. When you have a problem and would pay anything to have it rectified/answered RIGHT NOW by someone on the phone the extra few bux you pay per trade seems wellworth it.
And if you are successfully trading, a few bux per trade shouldn't make that much of a difference. Just my opinion. ~BB
Posted by djseoane on :
quote:Originally posted by betting babe: I like the easy & straightforward Ameritrade. Flat fees, free real-time streamer that I haven't had any lag with, and quickly executed trades. You can sign up online, transfer money via electronic transfer (I hate paperwork)and the user interface is very clear.
I'm also all about customer service, and their phone is answered by a knowledgeable person 24/7. When you have a problem and would pay anything to have it rectified/answered RIGHT NOW by someone on the phone the extra few bux you pay per trade seems wellworth it.
And if you are successfully trading, a few bux per trade shouldn't make that much of a difference. Just my opinion. ~BB
Thanks for the reply I am still doing a lot of research on all the sites listed on this string. Your inputs have been most appreciated.
Sincerly,
djseoane
------------------ It's never a bad day if you can wake and tell someone about it.
Posted by joeyisthebest on :
Etrade is 9.99 per trade and is very good if you average 9 trades per month you get power etrade which is great with market caster and other extras
Posted by Damian on :
hey there...
Just wondering any canadians in here using ScotiaMccleod or TD.... I pay 28.95 per trade US dollars....