posted
Hey one of my friends wants to invest but he only has a little to start with. does anyone know about a broker that will let you start with 300 or less. I know scot trade is at 500 i think but I was wondering about lower?
Posts: 662 | From: nj | Registered: Jan 2004
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posted
Lowtrades I think they have no min. 5.00 buy 5.00 plus 1/2% to sell. Scottrade kills you on penny commissions.
Posts: 1164 | From: KANSAS CITY | Registered: Aug 2003
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posted
$300.00 IS $1.50 Depends on how much you buy or sell.Scottrade is 22.00 to buy 22.00 to sell on pinks. Not alot unless you buy $50,000 worth.
Posts: 1164 | From: KANSAS CITY | Registered: Aug 2003
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posted
I was kind of suckered in by scottrade's $7 advertising, but I agree that at least to me they seem pricey for sub-$1 stocks. $12 plus 1/2%, ouch. Some "flier" stocks I like to put just $300 in, and the simple in-and-out is ~$26 or nearly 9% of original investment. That's an annoying hurdle to get past, makes me diversify and trade in and out less than I'd otherwise like to. Especially when I compare to a few 529 plans I'm in, that basically start you 4% *ahead* because any deposits are state tax deductible.
I should have researched more before joining scottrade, probably I will never put in a "market" order in my life - all will be limits, so the $7 figure is meaningless to me. I'd be curious to hear what you come up with in terms of beating scottrade, my suspicion is that it won't be that hard if you deal mainly in penny stocks
posted
Check out ChoiceTrade.com, TradingDirect.com, LowTrades.com and WangVest.com...all have < $10.00 trades and no minimum balance
Posts: 14 | Registered: Mar 2004
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posted
call choicetrade.com and post if they have any maximum amount of shares u can buy for the 5 bucks it costs per trade. lowtrades is 5 dollars for like half a million or soemthing. tradingdirect.com is 10 bucks for 1 million. not sure about wangvest.
Posts: 393 | Registered: Jul 2003
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$9.95 THE DIFFERENCE 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 No fee IRA's - Open your IRA online Foreign accounts welcome - start now Free ACH transfers - ACH transfers FAQ Place multiple orders from one screen http://www.tradingdirect.com/ Trading Direct VERY IMPORTANT "NO MISC FEE'S"
[This message has been edited by GHOST (edited April 04, 2004).]
posted
Good startup broker. I have used Trading Direct for last 9 or 10 months. Been pretty satisfied. A lot to like about them but be aware it is a smaller brokerage and was told only go through one MM (Nite) and most of time your bid is not put on bid board. For most people this is not a big deal unless trying to move a bid and occasionally will mean takes longer for limit trade to go through. Not a good broker for heavy daytraders though.
Even if I move some of my money for more daytrading will keep account here. Service dept has always been very co-operative but do not look to them for a lot of information as they tend to be a little weak in that area. Overall give them a B+ for penny stock trades.
Posts: 222 | From: Victorville,CA USA | Registered: Mar 2004
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quote:Originally posted by Junky: call choicetrade.com and post if they have any maximum amount of shares u can buy for the 5 bucks it costs per trade. lowtrades is 5 dollars for like half a million or soemthing. tradingdirect.com is 10 bucks for 1 million. not sure about wangvest.
With Trading Direct I have only been able to do a half million. Also selling uneven amounts over 30,000 is not allowed on limit trades - for example if you have 34,231 you have to sell nearest 100 in limit trade. To overcome that you have to do 2 trades, sell market or sell 34,200 as per example and sit aound with 31 shares in account that it may cost more to sell than they would bring.
In my case I held 131 shares of IBZT worth about $4.50. Its OK since somewhere down line will probably buy more and will be able to sell it then.
Posts: 222 | From: Victorville,CA USA | Registered: Mar 2004
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posted
Mytradz.com is 200 to open and 7.95 to trade. Pinks have to be called in except for some like LBTT you can buy yourself. The website is easy to use. I trade my nieces and some friends accounts there. -Debi
Posts: 1188 | From: Clinton, MA 01510 | Registered: Jan 2004
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quote:Originally posted by blue_in_MI: I was kind of suckered in by scottrade's $7 advertising, but I agree that at least to me they seem pricey for sub-$1 stocks. $12 plus 1/2%, ouch. Some "flier" stocks I like to put just $300 in, and the simple in-and-out is ~$26 or nearly 9% of original investment. That's an annoying hurdle to get past
Wow, thanks Blue. I had planned on going with Scottrade myself, I read through the commissions, but I didn't really "read" them. I thought $12 for limit orders wasn't bad, not to mention the 1/2% they tack on, but it seems there are a bunch of other fees as well. Thanks again.
posted
TradingDirect moved their max. up to 1 million. or so David said. i think i saw it on the website too. but u have to log in to find that sort of thing out. which is misleading, because until u are signed up the only information u will be able to find is they offer any stock trade for 9.95
[This message has been edited by Junky (edited April 05, 2004).]
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