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Today I was buying a "pink sheet" stock, and when I did try to enter the "Market order" it didn’t let me to do that, because only "limit order" they accept on "pink sheet". Also I did noticed, when I entered the "limit order", they notified me, they will charge 1/2% of my capital if I buy stocks under $1.00 (do I have to go trough on the same when I sell it?) Now my question is, all the other brokers does this, or just Scottrade? Sorry guys for the newbie questions, but I think it would be great to have some "sticky" on this forum about some basic questions and answers for newbies.
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about the "limit" order... most brokers only allow that.. but then again why would u want to buy a stock with Market order... you should only use market order if you want or need to get out of a stock quickly... as for the extra fee for pinksheets.. it works for sell side as well as buy side as far as i know.. I have a account with Choicetrade.com and i haven't seen them charge extra for pink sheets... check out their site:
posted
Machiavelli is correct that you would get charged that extra fee for both buying and selling. Choicetrade is one that doesn't charge extra fees. there are others out there as well, and there are others that are worse for penny stocks. I've hear of brokers that charge a fee of like a penny per share. So if you buy a million shares of a company trading at .0001, you'd be buying $100 worth of stock but paying $10,000 in commission!
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So the choicetrade sounds better for penny stocks. I did check they site, and looks great $5.0 a trade, and no extra charge. I don't have much found right now to play with on the bigboard, only $1500 so I would like to do maybe 3-4 trades a month in the penny stocks. So do I need that extra "ChoiceTrader Direct Pro" platform (looks nice), or I will be ok. as a beginner with the basic service?
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I have both Scottrade and Choicetrade. I like the tools I have on Scottrade and the contacts I have with my broker. I use it for big board stuff. You can't beat Choicetrade for the pennies, IMHO, especially if you have a small amount to play with like moi'. I don't pay for any services on either as of yet, and I am doing OK. Do some digging online, and I will bet you can find free stuff that does everything you are looking for...FWIW.
-------------------- Study before you buy, Sell before you think about it....
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That sharebuilder guys defenetly for investing and not for trading. Almost $32.0 a round trip. Right now with my low capital, if I make $30.0 or more with one round trip after all the fees, I'm happy. Thanks guys, this board help me a lot. I learned so many things here, and I know, still so much to learn. That is why I'm here and read almost every day.
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if I buy stocks under $1.00 (do I have to go trough on the same when I sell it?) Now my question is, all the other brokers does this, or just Scottrade? ![[Roll Eyes]](rolleyes.gif)
Sorry guys for the newbie questions, but I think it would be great to have some "sticky" on this forum about some basic questions and answers for newbies. ![[Wink]](wink.gif)
![[Smile]](smile.gif)
