posted
A friend recommended Rushtrade.com is this one good or should I look elsewhere. I only have about 150.00 to start is this enough or do I need to come up with more. Planning to do the micropenny stocks. Thanks for any advice. I want to make money now not in the future.
Posts: 1 | Registered: Apr 2004
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posted
Rushtrade is direct access. if they let u buy otc:bb it will be thru GNET, which costs too much. and if u are allowed to buy Pinksheet stocks, u will have to phone the order in.
and u will probably need tens of thousands of dollars to open an account with them.
call www.choicetrade.com and ask if u can buy any amount of shares for 5 bucks. ask if u they'd let u buy 5 billion shares in some .0001 stock. if they will let u, u've found your broker. if not, they may be the best out there anyhow for a no minimum broker.
[This message has been edited by Junky (edited April 20, 2004).]
[This message has been edited by Junky (edited April 20, 2004).]
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Lowtrades.com , TradingDirect.com neither have minimum and both very good for micro penny trading. I would advise you have at least $250 to $300 and preferably $500 to start. If you trade to little the brokers fees even though low will eat you up. Many other threads here with good advise to newbys so check them out, including keronpa: I only have $500 dollars. Has a lot of information you will need.
Posts: 222 | From: Victorville,CA USA | Registered: Mar 2004
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Rush slowly if you want to keep and increase your money. Get into to big a hurry and you will lose. Learn to do DD and get to know stocks. Be VERY careful on boards and get to know who is hyping and dumping and who really wish to give valuable info to others. Maybe best thing is quit looking at boards alltogether for a while, or at least if do take advice from boards check it out carefully to make sure it is correct and then do your own DD anyway. Remember if you lose your money others may be symathetic but only you are looking at an empty account. Posts: 222 | From: Victorville,CA USA | Registered: Mar 2004
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how r both very good for micro-penny trading? tradingdirect has a 1 million share max., and i saw some1 post lowtrades has a 100,000 share max.
Posts: 370 | Registered: Jul 2003
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I dont have an account with lowtrades and dont know but that may be true. Trading Direct I do have account in and it is half million limit. Have heard from several sources though that lowtrades is good penny stock broker, and for most people not buying stock under .005 100k is enough, especially as $5 trades would make same dollars 200k.
Posts: 222 | From: Victorville,CA USA | Registered: Mar 2004
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I have a low trades account and here is what I have found.
1. I have traded over 100,000 shares at a time. No limit. 2. They do have something on their site regarding a percentage above the $5 trade if you trade over 1 mil (I believe) 3. They tend to be a little slow with the trades. You need to plan good. 4. If you buy today and sell today, $ will not be available until next day. 5. If you buy today and sell tomorrow, $ is available the same day. 6. You can't do market orders on large volume sales. Must be limit. 7. I have had problems with stop limits. 8. Haven't wire transfer any $ yet, but a check takes 6 days after they receive it to clear. 9. OK site for people just starting out or with a lack of funds. 10. The ticker you get is a few min. behind. 11. They sometimes will not allow you to buy at half increments. i.e 0.01 --> not 0.015, and sometimes you have to put in a buy or sell for full cents. You can not go anywhere past 2 digits beyond the decimal.
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Is it my imagination or are all the brokerages lowering their fee's lately? ... E Trade(trades done in 2 seconds or less supposedly when i saw the commercial on CNBC today) and Schwab seem to be down to $9.95 a trade... and Brown & Co is down to $5 a trade (if you have 5 + years trading experience) .. probably sooner or later Ameritrade will lower their fee's as well and scottrade may eliminate some of their BS fee's .. <shrugs> .. as for Lowtrades jimbo.. it doesnt sound too promising but I guess i'll have to start somewhere and they seem good enough like you said.. has anyone have a account with Choicetrade.com and how they are?
[This message has been edited by Machiavelli (edited April 21, 2004).]
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i have an account with tradingdirect also and the guy who usually picks up the phone (David) said it's now 1 million, and he said it says that on their site, although i don't know where.
Posts: 370 | Registered: Jul 2003
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posted
I use Ameritrade and don't seem to have any problems(not always happy with their streamer) trade penny's and micro penny's with 10.99 a trade no extra fees, orders seem to fill with no problem.
Posts: 1152 | From: Pollock Pines Ca | Registered: Feb 2004
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Let me say again all I know of Lowtrades is hearsay. Trading Direct I will vouch for as pretty good for pennystock, especially if not daytrader. I have had order stopped before if over half million but after a couple of times quit trying so it could have changed since then.
Very good broker for beginners especially. One thing I like is if you order wrong by a decimal (which I have done several times) say order .05 when selling .005 they will not let order through, so I try to be careful but dont worry too much about it. I have heard some of other brokers love the profit they get when one of dummy clients do that and client takes big loss.
As far as full cent only trades Nasdaq and NYSE dont allow under penny trading. Only OTCBB and pinks and maybe canadian do.
Posts: 222 | From: Victorville,CA USA | Registered: Mar 2004
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Question for Ameritrade users. Ameritrades sight and other places I have seen talking about Ameritrade say they have minimum of $2000 to open account; is that accurate or can you open with less?? If you dont meet the minimum it doesnt matter how good they are until you can accumatelate that much money cant use them. Yet I have seen several places (including this stream) where people ask for no minimum brokers and posters talk about Ameritrade. Is there a minimum or not?
Posts: 222 | From: Victorville,CA USA | Registered: Mar 2004
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