posted
I called Choice trades, you can place trades for $5 but when you sell if over 1 million shares it will be another $10. It will be another $10 with every broker you use so beware it's because of some other fees! Also no min to open acct. I will give them a try, but the fastest way of funding acct. is to wire. Check will take forever to clear if you want to start trading asp.I do suggest you call them if you want anymore info! If anyone has used them I would love to hear their experience with them!
Posts: 22 | From: Bronx | Registered: Apr 2004
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posted
What about Money Order or Cashier's check? will that speed up the process of funds in the account? .. im still waiting to hear others experiences with choicetrade.com as well...
Posts: 4669 | Registered: Mar 2004
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posted
I will call them re money orders and let you know but I think that's the way it goes! You can send money order to tradingdirect. But of course choicetrades is cheaper in the long run!
Posts: 22 | From: Bronx | Registered: Apr 2004
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I was first leaning towards lowtrades... but not im leaning more towards choicetrade.. and i like tradedirect but dont like its $9.95 commission... ahhh what to do what to do lol ... most likely i will start out with choicetrades and maybe down the road move to another brokerage.. we shall see..
Posts: 4669 | Registered: Mar 2004
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posted
Excellent, thanks for the info. Haven't been able to find anyone with any solid experience with them. I'm leaning that direction myself. Are you planning on using the online version or one of the direct trading versions? I was just playing with the online demo, and one thing that concerned me was when putting in a stop-loss with my order, it was not confirmed on the "confirmation" screen. Granted, it could simply be because its a demo account, and it won't let you continue with the order (since there's no money in it and all). Maybe it's brought up after the fact, but since that is a very relevant part of the order, it seems like it should be part of the confirmation process... just curious, anyone have any actual trading experience with choicetrade?
posted
Just a thought. Unless you are VERY active trader price of broker should not be first consideration (unless very large range), and even if active it probably shouldnt. If they mess up one time and it costs you $300 it takes a long time to make it up at $5 a pop. Just a thought from someone who paid over 2 grand last year and approaching that already this year in broker fees.
I wish I knew which was best but can only tell you who I've tried, Trading Direct good, Firstrade no good for small pennies. I hadn't even heard of choicetrades until couple of weeks ago.
One question about them though. Do they allow trades up to four digits to right of decimal (.025 or .0021) on OTCBB and Pinks? Very important as that one fact makes the difference between a good penny stock broker and no good if trading in .05 and under range, and big difference above that. If only allow whole cents it will kill you. Have no idea if choicetrades does.
[This message has been edited by BigT1 (edited April 27, 2004).]
Posts: 222 | From: Victorville,CA USA | Registered: Mar 2004
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posted
Good questions, I will call again. Also I called rushtrades and I know someone who plays pennies big time uses them and very happy with them and it is a flat $9.95 with them! I am not a very experienced trader so I am just looking for a very reliable firm! And easy to use site.But Choice trades are cheap but I do not have any personal experience with them.Hmm need to decide soon!
Posts: 22 | From: Bronx | Registered: Apr 2004
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While asking questions find out how many MM's (market makers) they use and which one or ones. Trading Direct only uses 1 where Ameritrade uses like 10 or 12. It will help determine how big the broker is and you can research if good marketmakers. More is sometimes better, unless just lousy mm's. Probably not make or break factor though.
Posts: 222 | From: Victorville,CA USA | Registered: Mar 2004
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