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Just wondering which in everyone's opinion is best for OTC trading - I was leaning towards RushTrade, but I think their policy on orders over 5000 shares (being charged $5 per 1000 shares traded with orders over 5000 shares) is ridiculous and not realistic for someone looking to trade mainly OTC. Any advice which broker you like/dislike? and why?
Posts: 145 | Registered: Oct 2003
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posted
Don' go with Scottrade. They charge $27 + 1/2% of the principal for each stock. You can't even trade them online, you have to call each one in.
I switched to Ameritrade and have been happy. It is $10.99 per trade, and you can do it online with no hassle. Ameritrade has a very new and updated members page that you will be pleased with compared to Scottrade's ugly black-themed members page.
posted
dont go with either Scottrade or Ameritrade Unreal... the way to go is Choicetrade.com ... $5 commission on equities whether a mainstream or penny stock and great customer service...
Posts: 4669 | Registered: Mar 2004
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So its still only a $5 fee even if I'm buying 1 million shares? sounds good to me, anyone else like them??
Posts: 145 | Registered: Oct 2003
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they will eventually.. my guess is they are still expanding.. someone else said they waited for Choicetrade to expand to CT which i presume they just did.. anyways check out perhaps Lowtrades.com .. I cant vouch for them but I heard from others about them in the past..
Posts: 4669 | Registered: Mar 2004
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Ameritrade is good Freetrade even better if you are experienced at trading, as they have no telephone support only email. Each month first 20 trades are free 21 - 100 are $3.00 a trade, 101 - 200 $2.00 a trade, after 200 only $1.00 per trade.
Posts: 19 | From: St Peters MO US | Registered: May 2004
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You forgot to tell him how much it is to open a account with each Trade Dog lol ... no minimum with Choicetrade... $5,000 with Freetrade (somehow doesnt sound too free) and what is Ameritrade? $2,000 i think? ... maybe he dont have that kind of cash on hand and wants a no minimum broker.. anyways check all of them out Unreal and try Lowtrades.com as well..
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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Does Ameritrade offer check writing? Yes free trade is nice, its a off shoot of Ameritrade. However some might like the idea of a telephone still.
Posts: 309 | Registered: Nov 2004
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quote:Originally posted by Machiavelli: You forgot to tell him how much it is to open a account with each Trade Dog lol ... no minimum with Choicetrade... $5,000 with Freetrade (somehow doesnt sound too free) and what is Ameritrade? $2,000 i think? ... maybe he dont have that kind of cash on hand and wants a no minimum broker.. anyways check all of them out Unreal and try Lowtrades.com as well..
ameritrade is $500, depending what type of account you want.
Posts: 610 | Registered: Dec 2004
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quote:Originally posted by Machiavelli: You forgot to tell him how much it is to open a account with each Trade Dog lol ... no minimum with Choicetrade... $5,000 with Freetrade (somehow doesnt sound too free) and what is Ameritrade? $2,000 i think? ... maybe he dont have that kind of cash on hand and wants a no minimum broker.. anyways check all of them out Unreal and try Lowtrades.com as well..
ameritrade is $500, depending what type of account you want.
the commissions too high and will eat up your account with a $500 account.. the best alternative to choicetrade.com to me is Lowtrades.com ... here is the link to its commissions/fee's :
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.
i would recommend people looking for a broker check out www.empirenow.com i'm not sure if level II is free or if u can buy unlimited shares but it's 9 bucks a trade instead of ameritrade's 10.
Posts: 393 | Registered: Jul 2003
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