posted
Is there any way to trade pink sheet stocks without having to have broker assistance? I just signed up with Scottrade believing that I can do this but I don't want to pay $22 per trade.
Mike
Posts: 42 | From: Maplewood, Minnesota, United States | Registered: Jul 2004
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quote:Originally posted by MikeHouston: Is there any way to trade pink sheet stocks without having to have broker assistance? I just signed up with Scottrade believing that I can do this but I don't want to pay $22 per trade.
Mike
For pinks you have to use the broker, can't sell online...
posted
and its not just 22 bucks with scottrade its 22 plus half percent of principal investment lol can get up into the 40 dollar range when buying alot of shares oh yeah plus a penny per trade sec fee lol
[This message has been edited by MW (edited September 02, 2004).]
posted
If you have $5000 then FREE TRADES is the way to go www. freetrades. com http://www.freetrades.com ____________________ Trading Direct www. tradingdirect. com http://www.tradingdirect.com THE DIFFERENCE $9.95 up to 1000000 No minimum to open account - start now Margin rates up to 1/2% below broker call Low option commissions - see now No hidden fees - see now Trade penny stocks with No Additional Fees! - see now No fee IRA's - Open your IRA online Foreign accounts welcome - start now Place multiple orders from one screen ______________________________________________ Never used choice trades, but looks like it could be good. $5.00 trade advertised with no Minimum to open account. So they say any ways. www. choicetrade. com http://www.choicetrade.com _____________________________________ Some others might tell you Low Trades, but for what they socked me in misc fees it comes close to what Scottrade charges and I never knew when I would get hit with the misc fees. ___________________________________________ I do still have my Scottrade account, but don't use it as often as I use to. Not pink sheet friendly!!!
[This message has been edited by SmokingUSA (edited September 02, 2004).]
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gabriel: I've never used them, but a lot of people starting out playing pennies don't have $2000.00 to begin with. Which is probably why MikeHouston went with Scottrade in the first place. ($500. Minimum) Have you used them? If so let us know if they are any good. I've never heard too much bad about them. http://www.ameritrade.com New Account Opening Offer Get 30 commission-free trades when you open a new account. Ameritrade Apex™ $50 bonus if you qualify. Low Cost Commissions Enjoy $10.99 Internet equity trades.
What is the minimum amount required for opening an account? Generally, $1,000 equity is required to open an IRA and $2,000 equity is required to open any non-IRA. Your minimum initial deposit is based on the account type you have selected and may be modified by special promotional offers. Regardless of any promotional offer, a $2,000 minimum deposit is required to be considered for margin and options privileges. Top
Do I have to maintain a $2,000 balance in my account at all times? Once the account is opened, what you do with that $2,000 is up to you. However, a $15 quarterly account maintenance fee may be assessed if your account has less than $2,000 in total liquidation value. Accounts with at least four executed trades in the previous six months and beneficiary accounts are excluded from this fee. If your account has margin privileges, you may be required to maintain $2,000 equity.
[This message has been edited by SmokingUSA (edited September 03, 2004).]
posted
I started with Scottrade and hated it when trading pinks. I had some fees that were over $100 because of the $22 + 1/2%. That 1/2% killed me. When trading the pinks, momentum is essential, and having to call a broker to place the trade is time consuming, especially if you need to change a bid or ask spur of the moment. I eventually transfered over to freetrade and I love it. $0 trade fees on the first 20 trades each month and everything is done over the internet, but that does include customer service. If you need to speak with people to get help, then freetrade is not for you. However, the few times I needed to contact them, they are quick to respond to e-mails. My suggestion, which is what I did is that if you have over $5000 to open a freetrade account, transfer over to them, but keep your scottrade account so you can use the streamer for free. Freetrade does not come with a streamer, you have to pay for it. Be advised, if you transfer accounts over, it takes about 10 days to be able to trade. You will have no access to your money during that time.
[This message has been edited by kbpkt (edited September 03, 2004).]
Posts: 1120 | From: San Diego, CA | Registered: Feb 2000
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posted
I said it once and I'll say it again... use Choicetrade.com for pennies... $5 to buy or sell pennies... no minimum to open a account.. check out their website.. and yes you trade pennies online through them you do not have to call a broker.. $5 sure beats $22 and no extra fee's that i know of..
[This message has been edited by Machiavelli (edited September 14, 2004).]
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Machiavelli: You seem really happy with choice trades. I 'm happy with Trading Direct, but was just wondering for future reference if I run across some one in my travels who is looking for a penny friendly broker. Just wondering if they execute speedy I guess I'll call it, plus who does the check to add money get written out to. The ony reason I ask about the check is like Low Trades and I believe it was my trades uses the same clearing company? Thanks for your time!
Posts: 551 | From: Wisconsinite | Registered: Oct 2003
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posted
I am using Ameritrade, it's 10.99 for all trades including Pinks. It comes with lots of streaming tools, a Java based control panel, and more....
I'm quite happy with it, and the tools that it provides.
Posts: 132 | From: Chicago, IL, USA | Registered: Sep 2004
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posted
I agree. Ameritrade offers a lot for a little (fee). $10.99 is all that it costs and if you qualify as a daytrader, they provide you with free access to Level II quotes. Not bad, and it has been pretty reliable for me.
posted
I hope you guys don't mind me doing the following and if you see any errors let me know. I get around alot and come across this same question and would be easier down the road to have it all printed out. Thanks take care!
If you have $5000 then FREE TRADES is the way to go www. freetrades. com http://www.freetrade.com/ ____________________ If you have $2000.00 to open an account. Ameritrade offers a lot for a little (fee). $10.99 is all that it costs and if you qualify as a daytrader, they provide you with free access to Level II quotes. Not bad, and it has been pretty reliable for mr_geronimo and letsplay28. http://www.ameritrade.com New Account Opening Offer Get 30 commission-free trades when you open a new account. Ameritrade Apex™ $50 bonus if you qualify. Low Cost Commissions Enjoy $10.99 Internet equity trades. _________________________________________________________ Trading Direct www. tradingdirect. com http://www.tradingdirect.com THE DIFFERENCE $9.95 up to 1000000 shares. No minimum to open account - start now Margin rates up to 1/2% below broker call Low option commissions - see now No hidden fees - see now Trade penny stocks with No Additional Fees! - see now No fee IRA's - Open your IRA online Foreign accounts welcome - start now Place multiple orders from one screen ______________________________________________ Machiavelli says: “I said it once and I'll say it again... use Choicetrade.com for pennies... $5 to buy or sell pennies... no minimum to open a account.. check out their website.. and yes you trade pennies online through them you do not have to call a broker.. $5 sure beats $22 and no extra fee's that i know of..” $5.00 trade advertised with no Minimum to open account. www. choicetrade. com http://www.choicetrade.com ____________________________________________________
[This message has been edited by SmokingUSA (edited September 15, 2004).]
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i am new at stocks all together but i happened to get in with harris direct but as soon as i get $1000 save i am thinking on switching to e-trade or ameritrade i dont even know if i get charged for trading besides the $19.99 a trade and that is steep i think does any one know if there is a % i will also pay for selling with harris direct please any response would be great
Posts: 111 | Registered: Aug 2004
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