I've been quietly following this board and have concluded that it's the best one out there. Being super friendly and dynamically informitive what more can a rookie ask for!I do have a question, being from canada which brokerage would be best for one who wants to trade pennies? I've started an account with Ameritrade Canada but there are a lot of trades that aren't allowed through because of non-reconized symbols? Could someone please list a few Brokerages suitable for this situation. Thank you.
Posted by kbpkt on :
Freetrade. Your first 20 trades each month are free, and only $3 a trade after that. It is owned and operated by Ameritrade. However, you get no streamer, quotes, or are you able to personally speak to anyone. Everything is handled via e-mail. You do need a minimum of $5000 to open an account and it is geared towards experienced investors. I would not recommend it if you need guidance. But, it is worth it for the commisions you save.
Posted by Meshoe45 on :
quote:Originally posted by kbpkt: Freetrade. Your first 20 trades each month are free, and only $3 a trade after that. It is owned and operated by Ameritrade. However, you get no streamer, quotes, or are you able to personally speak to anyone. Everything is handled via e-mail. You do need a minimum of $5000 to open an account and it is geared towards experienced investors. I would not recommend it if you need guidance. But, it is worth it for the commisions you save.
Very true, I did it and its great. And there e-mail support is not slow at all. They will get back to you within 24 hours but I have been pretty lucky and get quick 3-5 hour replies. Excellent deal. You can subscribe to L2 quotes - streamer etc. www.freetrade.com
Posted by lumik on :
Sounds great for the experienced, however I am very green, my next trade will be the third, I tried to purchase USCI,MPTT,LSTA,through Ameritrade Canada but failed because of unreconized symbols,so I gather I need a brokerage that accepts all pennies, and is good and cheap.
Posted by Love the Market on :
Just to try and help you...... FreeTrade is Owned by AmeriTrade, so FreeTrade may not recognize symbols either. But I've been with Ameritrade since I started trading and have NO complaints......
Good Luck to you
Posted by braggtd on :
I use lowtrades dot com. They are pretty good. 5 dollars a trade and no account minimum for cash accounts. You can get the perks like L2, streaming quotes, but for an extra cost.
Posted by lumik on :
Is there a Brokerage that accepts all penny stocks and has a resonable commision? I thought Ameritradecanada was the one however it won't accept a lot of the pennies.
Posted by jimbo on :
I too use lowtrades and it is pretty good. Haven't ever had any problems with it not recognizing any symbols except once. But that was last year (2003) and they have changed since then. It is only $5 per trade, however if you trade 100,000 + shares there is an extra tacked on fee. I usually can't afford anything like that but I did buy CMKX @ .0001 so I now trade shares of 95,000 just to avoid the fees. You can open a market account and get a check book if you want. You have live support too. Have you checked out choicetrade.com or tradersdirect? To get your money, you may have to do a wire transfer and that may cost up to $35. Hope this helps.
quote:Originally posted by braggtd: I use lowtrades dot com. They are pretty good. 5 dollars a trade and no account minimum for cash accounts. You can get the perks like L2, streaming quotes, but for an extra cost.
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Jimbo...
Posted by fastrunner on :
Ameritrade works very well for me. I also have Freetrade. However Freetrade is all online. No person to person support. If you need this kind of support you'd do well with Ameritrade.
Posted by Malloy on :
Hey Lumik
I'm from Canada. I understand your frustration.
AmeritradeCanada is good for known OTC stocks. But won't trade PINK and many stocks are not in their computer. The reason, AmeritradeCanada is not Ameritrade US...they bought the service from another canadian company and have a totally different service from the Americans.
Another thing, they don't accept trades over 100K of shares...but you can force up to 199K...works sometimes. They have a good Java web interface.
So, good, but not very good.
There's DisnatDirect in Montreal. They have a very good software. They trade everything but they don't like subpenny. No trade over 100K for stocks under .01.
Disnat, related to Caisse Populaire...if you,re in Quebec I think (not sure). Trade everything. No limits. But, 29$ a trade and they are very very very slow. Only web and phone and website is really bad.
I've check on many others Broker related to banks..but, they were either expensive, slow or didn't trade subpenny.
If you find something, please let me know. You'll find me posting here almost everyday.
Good Luck
Malloy
quote:Originally posted by lumik: I've been quietly following this board and have concluded that it's the best one out there. Being super friendly and dynamically informitive what more can a rookie ask for!I do have a question, being from canada which brokerage would be best for one who wants to trade pennies? I've started an account with Ameritrade Canada but there are a lot of trades that aren't allowed through because of non-reconized symbols? Could someone please list a few Brokerages suitable for this situation. Thank you.
Posted by lumik on :
Thanks everyone, however being from western canada throws a wrench into our trading system, brokerages such as Choicetrade,Freetrade,& Lowtrade all seem to be unregistered for taking on Canadian clients,Malloy has hit the nail on the head, frustrating as can be! and there doesn't look to be a brokerage house that will give us canucks the benifits our good friends south of the boarder have. I will keep looking, there has to be a brokerage house that suits our needs, if not, maybe we Malloy, have been given a sign such as Scotts in the US, maybe this is the niche were looking for, us to start a brokerage that caters to the needs of traders such as ourselves???Hmmmmm???
Posted by JoeMillion on :
etrade.com is the best when trading pennies.
Joe
Posted by Junky on :
call www.questrade.com and ask them if they trade Pinks and have for real unlimited share trades per their $9.95 trades.
Posted by chshore on :
I use harrisdirect, they have kinda steep commissions but i have access to almost every penney imaginable and they are very quick to put orders through. Trades start out at $19.95 and all you need is $1500 to open an account.