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Author Topic: mytradz, lowtrades user question
greenhorn
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I finally was funded and ready to roll this morning. I tried to buy 1 million shares of APUL for $ 100. It says over the limit, I call them and they say 250,000 shares are the limit, you need to call it in at $25. That is not in the commision schedule anywhere, just over 10,000, 1% of it or $1 in this case. How about lowtrades I might open an account with them for micropennys, and use lowtradz for under 250,000 shares.
Posts: 67 | From: Hamilton, Montana | Registered: Jan 2004  |  IP: Logged | Report this post to a Moderator
greenhorn
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I was in a hurry that never came out right. Mytradz has the limit, does lowtrades? I would use my mytradz account for under 250,000 shares. Thanks Greenhorn!!!!!!
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GreenKnight37
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Lowtrades caps at 500,000.

I believe this number used to be higher, but as of the past few weeks, its only been letting me trade a max of 500,000 shares.


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greenhorn
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Thanks GreenKnight!!! So to buy 1 million of APUL @.0001. Go 2 bids of 500,000 for 1,000,000 for $11. 5 bucks a trade plus .50 for each trade, 1% of $50. Not to bad, better than $25 phone in. Greenhorn
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greenhorn
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Thanks GreenKnight!!! So to buy 1 million of APUL @.0001. Go 2 bids of 500,000 for 1,000,000 for $11. 5 bucks a trade plus .50 for each trade, 1% of $50. Not to bad, better than $25 phone in. Greenhorn
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beefcake
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where did you get this from

plus .50 for each trade, 1% of $50.

i thought $5 to buy it and $5 to sell it only the 1% is if you use a differant enc


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greenhorn
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Beefcake,this is from lowtrades website-
Block Trading Fees applies to all orders for OTC-BB and Pink Sheet stocks of 100,000 shares or more. This fee is $.0005 per share or 1% of the principal, whichever is lower.


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wingnut
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I would check into it more...I thought the same thing with lowtrades but I sold 500,000 shares of QBID two weeks ago and I got my invoice from them and they charged me $5 for the trade...$25 in misc fees, and then like $0.75 for a NASDAQ fee. It's a joke if you tell me...I called them and they said that these were all legit fees. Obiously I am not happy about it since it cost me $120 to sell 2,000,000 shares of QBID

wingnut

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Originally posted by greenhorn:
Beefcake,this is from lowtrades website-
Block Trading Fees applies to all orders for OTC-BB and Pink Sheet stocks of 100,000 shares or more. This fee is $.0005 per share or 1% of the principal, whichever is lower.



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budme
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wingnut are you serious? that much in fees? i was gonna open up an account with lowtrades, but not with all those rediculous fees. if there is anybody else here that has an account with lowtrades, can you esplain any extra fees other than the $5 commission, if you experience any? thanks
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EverGreen
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greenhorn said correctly !!!
misc.fees: 0.0005 (or 1%) for sell over 100000 shares

many brokers are introducing these new (hidden) fees

At the moment Freetrade is still free (but not allowed for foreigner)
Another good broker is MyTrack
fix comm. on limited quantities (depending of the stock price) see their web
(i.e. sub-pennies 1000000)


Posts: 1442 | From: Lugano - Switzerland | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
   

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