Why do certain online brokers force you to use a spread of say $.15 below the current bid when placing a stop loss order? Is this the rule for all online brokers or just Scottrade? I mean you automaticly have a spread between the bid and the ask. And now you have to spread the bid again when using stop orders. Any clues?
Posted by Machiavelli on :
Doesn't happen at Choicetrade as far as i know.. not to me at least... as for Scottrade.. i heard they suck with their fee's and too many rules..
Posted by options on :
I e-mailed Choicetrade this same question to see if they did this. Still waiting for a reply. The only problem I have with Choicetrade is they do not offer trailing stops.
Posted by Machiavelli on :
they will in the future they told me about trailing stops... for now you just have to do it manually daily after close of market.. but anyways that is a minor thing considering they let u put stop/losses on Penny stocks