Wow that actually lets you short pennies? Like it allows you to short stocks in the sub-penny price range? That's ridiculous... I never knew about this.
Posted by AeoNELiTe on :
Hmm... looks like you can't use Interactive Brokers for penny trading since they charge you for each share you trade not a flat-rate.
Posted by T e x on :
Others will let you, with a prohibitive deposit...about $2.50/share I think...
Posted by Livinonklendathu on :
Ya gotta read the fine print:
Notes: IB's unbundled fee will be capped at 0.5% of trade value.
And for bundled under "maximum per order":
0.5% of trade value plus exchange, ECN, regulatory and specialist fees
My advice is for you to call them with a "Hey, I was wondering if I short xxx,xxx amount of company NUTS at .xxx, how much would the commish be?"
Posted by Machiavelli on :
If we could short them without restrictions we would... everyone would... we all be millionaires many times over lol
Posted by T e x on :
lol...
Posted by AeoNELiTe on :
Oh okay. So basically if you want to trade pennies with them, your commission will be .5% of the value of the trade. So if you buy $1,000 worth of a penny stock then your commission would be $5. Theoretically, it would be $5 even if you bought $100,000 worth of shares of a penny stock. This is all under the "Bundled" pricing. The "Unbundled" pricing would lead to far greater commissions. Do you have to pick what type of commissions your account uses? Or do you specify it for each specific trade?
And it doesn't say what the commissions are for short selling, but I am assuming that it will NOT be the same as the aforementioned. That is, the commission for short selling $1,000 worth of a penny stock would not be $5, but some other larger amount.
Posted by Ace of Spades on :
SOLM ACTC WWAT NMKT CHCG GMXP COTE
I just checked a few symbols so far...but these are shortable...WoW
Posted by Ace of Spades on :
i Checked my whole watch list and these are all sortable...WoW it realy makes you think
Shortable through whom ace? Which brokerage
Posted by Ace of Spades on :
quote:Originally posted by bb money: Shortable through whom ace? Which brokerage
Are you lazy? scroll up a bit.....just kidding. Interactive Brokers it looks like...never done and don't know anyone that has...it's a Canadian Broker and it allowed I hear. Here's the link
quote:Originally posted by bb money: Shortable through whom ace? Which brokerage
Are you lazy? scroll up a bit.....just kidding. Interactive Brokers it looks like...never done and don't know anyone that has...it's a Canadian Broker and it allowed I hear. Here's the link