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TD Ameritrade To ELIMINATE ST FRIP program
Any ST investors should call their brokers and voice their concern. I also called TD Ameritrade to let them know they will lose my business if they do away with this program.
Plenty of other brokers begging for my cash.
I was told they are taking note of all calls regarding this, both companies. Do your part if you enjoy your FRIP program, which is the best in the industry.
FUCK tdameritrade = Stock Nanny.........lol.......z
Bottom Line on the BEST online brokerage is ETrade. They let you trade what and how you want........z
Just2Trade has made a glaring clerical error in my account .... I hope they correct it themselves by settlement. I'm going to wait a few days before calling them to see whether they catch it. I've started using them more for OTCBB and pinksheets now that Zecco no longer accepts GTC orders on those stocks, but this is disappointing.
re ZECCO - my message and their response -
Why are GTC limit orders on OTCBB and pinksheet stocks not being accepted on the new trading platform ? They were accepted until yesterday on the old platform. Other discount brokers continue to accept GTC orders on OTCBB and pinksheet stocks. It's a big nuisance to have to re-enter orders on a daily basis ! Why was this change made ? Zecco will undoubtedly lose business if this new policy remains in place. Please clarify the reason and rationale for this unfortunate change. Thank you.
RESPONSE from ZECCO
We do apologize for any inconvenience. Unfortunately with our new trading platform you would no longer be able to place "GTC" orders for penny stocks because of the risk limit involved. It is possible that these stocks can go through a corporate action and the appropriate market makers for that security may not make the correct changes which can put you and also our firm at risk. We do thank you for your feedback and will forward this suggestion to our developers for consideration.
They might as well stop ALL otc trading. Basically what they are gearing towards.
ZECCO is no longer accepting GTC orders on OTCBB and pinksheet stocks .... day orders only. So I don't bother trading those with Zecco anymore.
Is it happening because you have too many pinksheet stocks in your account? This has happened to me in a few different brokers in the past. It appears they are strangling us out. If you cant transfer they will make you get certs and no brokers are taking penny certs anymore so you will have ample toilet paper for the future.
Weird........keep us posted.........et z
Maybe once a few weeks ago that all.
Were you day trading?..........et z
Realfasttrader, Got an email last week telling me i had to close my account. I was given no notice and couldn't even sell i had to start a transfer request. They said its happening lots of people.
Penson sucks.....What kind of accounts are they closing....and how?....z
RealFastTrader have started closing accounts due to Penson.
I currently have 7 brokerage accounts....most of them dormant.....I use them for various purposes.....ATrade for their market data/charts/level2 etc........WAS using IB more and more lately...but screw them and their butt buddy NITE.........I think I'll be using Just2Trade for most of my trading now......But I like being able to route to different MM's with RealFastTrader.......z
I have numerous accounts, including a tiny trial account with Just2Trade .... I have gotten the sense that they give excellent fills. Zecco is also pretty good with fills. No apparent front running or order delays ("pending review") like what I see at Ameritrade ! Yuk.
Maybe I'll shift some more business to Just2Trade ....
Best Online Brokerages:
1. Just2Trade: $2.50/trade. Awesome Fills. http://Just2Trade.com
2. RealFastTrader: $6.95/trade. Route to MM of your choice. http://RealFastTrader.com
3. Ameritrade. $9.94/trade. Great trading tools.
Avoid:
1. Interactive Brokers. Only uses NITE for OTC. NITE will FRONT RUN on you, sit on your trades like they were eggs waiting to hatch, and IB has TERRIBLE FILLS.
z
Also, http://RealFastTrader.com lets you route to the MM you want....that's another great brokerage. $6.95/trade.........z
Just2Trade. Awesome fills. Moving most of my stuff to them.... $2.50/trade ....z
IB - I agree on that point .... I've gotten some very bad fills and no fills at IB. I use them primarily for futures trading, high priced stocks and shorting hard to get shares including OTCBB stocks which can't be shorted elsewhere. They're excellent in certain respects, but bad in others.
I trade mainly OTC....Commission is .05% of trade value with a $1 minimum......but that's not the point.......the point is they are absolutely f..ked when it comes to filling your trades....z
Did you have an account with IB ? As I pointed out, they have both advantages and disadvantages ..... great for low margin rates and futures trading. Commissions very high on low priced stocks, but very cheap on high priced stocks based on their pricing structure.
Buy 200 shares of IBM @ $172 for just $1 commission.
Interactive Brokers SUCKS. The ONLY market maker they use is NITE, who will front run on you, SIT on your trades, and NOT fill you even when you slap the living beejeezus out of the ask......I've actually had that prick go short instead of filling me.....F>>>>>C>>>>>K>>>>>>>BOTH of them.............z
That's wrong. Commission is a flat percentage depending on the money amount. Minimum $1/trade. At a $2,000 trade the commission is $10 .....anything less, it varies from $1 to $10 ......Over $2000 it goes up............That said, Interactive Brokers SUCKS....they only use NITE on OTC companies.......and NITE will front run on you, will sit on trades, and will NOT fill you on lots of companies.........z
Just opened an acct with Just2Trade. Awesome fills guys: http://Just2Trade.com ..........z
fyi, Found a new broker review site today. Brokerage Reviews. The site has several well written reviews of popular brokers. Details on the signup processes, features (some nice in-depth details that can be hard to find), pros/cons, etc. You can also filter brokers via categories such as "penny stock brokers" or "best options brokers". Worth a look.
Interactive Brokers (IB) highlights -
IB has advantages and disadvantages as do all brokers -
Commissions are per share, so can be expensive on large blocks of low priced shares.
http://www.interactivebrokers.com/en/p.php?f=commission
Excellent availability of shares for shorting for a fee. Allows shorting of OTCBBs and Pinks.
Very low margin rates .... lowest anywhere.
Good trading platform.
Order routing sometimes limiting .... they don't deal with all market makers. In rare cases I've had buy orders sit when elsewhere they would fill.
Great for futures trading. I use them for crude oil, nat gas, copper, etc.
Great for trading directly on the Canadian and other foreign exchanges in local currency.
This is the best broker list I have seen recently
http://finviz.com/store/stock-brokers.ashx
When you sell stocks in a cash account there is a 3 day period before the payment settles and you can use the money to buy something else.
In a margin account there is no waiting period on the money so you can use the money from a sale to buy something else right away.
As for the 3 rountrip trades, this is a fed rule for pattern day-trading. If you buy/sell or sell/buy the same security within the same day it is a day-trade. If this is done 3 times in a 5 day period you are labled as a patern day-trader and are required to maintain $25000 minimum in a margin account.
Hope all this helps. Your brokerage firm should have all of this info in more detail.
Happy Thanksgiving
I'm confused. You say you can make as many round trips as you want but then say only 3 times in a 5 day period? And you can't buy on margin but you need a margin account?
I don't know if u ever got an answer to this but u can't buy pennies on margin. however, u need a margin account otherwise you are very limited in the amount of trades u can make because the trade has to settle. You can get a margin account at Zecco for an initial outlay of $3500 and that allows you three daily round trips in a five day period. You can make as many round trips as u want, but only in and out three times in the same day in a five day period.
Or you can go with the $25,000 account which allows you to make unlimited trades whenever u want. Hope this helps.
I'm confused about margin accounts??? Some people on ihub post how they buy pinks and OTCBBs on margin but others say you can't, so what's the deal? TIA
DUDE...you're an ACIM fan?..Favorited!...I got an IB account, but don't know where I would find that........z
I am looking for IB tick data for TFU9 and ESU9 ideally for roll over to roll over. If anyone has this or similar as long as it is Interactive Brokers tick data I would be very pleased to hear from them. I realize that IB does not send all the ticks but takes a 230 to 300 ms snapshot. This is what I require to back test and optimize my auto trading strategies.
I'd go IB......Interactive Brokers ....et z
Opinion question to all-
as an alt to TDA I want to open another account
Which is better IYO?
Zecco or Tradeking
I may move from TDA to Scot for my primary
re: LOWTRADES - Posted by: Underworlds
Date: Friday, July 10, 2009 12:39:04 PM
#msg-39437913
LowTrades.com To Charge Illiquidity Fees On Sell Side Of Stocks
In a telephone conversation with LowTrades today, July 10, 2009, it was revealed that LowTrades.com will now be charging their clients excessive "illiquidity fees" on the sell side when they sell any of the following stocks: Genta, Inc. (GNTA), Seamless Sales, Inc. (SMWF), and Hard To Treat Diseases (HTDS).
At the time of purchasing stocks through LowTrades.com, clients are not informed of any "illiquidity fees" that they will be assessed, neither on the buy side or the sell side of the trade. In one instance, as mentioned in my previous article, LowTrades charged a phenomenal fee of $495.30 to a client (me) several days after the purchase of 993,000 shares of Hard To Treat Diseases (HTDS).
This failure to disclose fees to investors is certain to cripple the stock trading abilities of LowTrades.com clients. It may likewise make it more difficult for certain stocks to trade on the markets.
When asked to speak with a Compliance Officer, the LowTrades.com representative refused - not once, but multiple times. According to him, clients can only communicate with compliance officers via email by writing to info@lowtrades.com. This is a general-purpose email address at which all customer communications are delivered, thereby giving all persons within LowTrades the ability to read communications that are supposed to be designated for Compliance Officer's eyes only.
Click the link to listen to the telephone conversation with LowTrades.com.
http://www.underworlds.org/af/VN520105.WMA
That looks nice. I don't have an account with TDA though.
You're welcome.
I think I just need to update the firmware in order to get E-Trade Mobile Pro on my iPhone.
TDAmeritrade has iStockManager for Google's Android phone. It is nice! It even has level2! Though TDA doesn't provide level2 for pinks.. which stinks. I'm liking it so far!
http://www.istockmanager.com/
Thanks for the reply. I grabbed a T-Mobile G1 Google phone today. I'll try it for a few weeks to see if I can trade via the web interface. I like the open-source nature of the G1 versus iPhone. If I stay with it I'll get the G2 when it comes out in a few months and eBay the G1 (unlocked).
Thanks again.
I tried downloading the E-Trade mobile app for my iPhone, but I got a message that says it's not compatible with my phone, whatever that means. Maybe I just need to install an update for the iPhone.
Based on the reviews I read at the iPhone app store, a lot of people like the E-Trade app. Some said it's even better than the web version.
This is were I sit... I have accounts in both E-Trade and TDA. I've had accounts with E-Trade bank for about 15 years and the brokerage for a long time. I plan to keep account in many brokerages as they all have their strengths.
E-Trade:
- Great for non-penny trades
- Online platform enables selling individual lots
- E-Trade Pro is excellent for Level-2
- for me.. slow trade execution in pennies.
- the banking side is simply excellent!
TDAmeritrade(TDA):
- Best for penny trades (4 decimals) and low fee's
- Online platform DOES NOT enable selling individual lots (must phone for selling a particular lot) [I keep requesting this from them anytime I speak to them.. squeaky wheel!]
- no Level-2 for pennies so use E-Trade Pro
- I've never had a single problem with TDA. I love TDA!
IB:
- fee structure makes penny trades too expensive so keep TDA
- could be a replacement for E-Trade
- I haven't used it yet but I will be opening a small account soon to try out their trades and platform
Does anyone have a recommendation for mobile trading?
E-Trade has mobile for the iPhone and BlackBerry.
I'd like to have level2 as well.
TradeKing requires $100 minimum purchase.
Yeah...Ameriturd...lol...z
hehe! no problem, not an urgent thing anyways. By Atrade I assume you mean TD AmeriTrade...? I'll check that out. Thanks z
Ty sir, will do :o)
Posting Hint: When you post, respond to someone else's post. Don't just throw up a post, cause this board isn't visited that often, and you won't get an answer. If you respond to someone else's post it will show up in their Mailbox, and you stand a much better chance of getting a response..........z
Damn dude...we weren't ignoring you, just nobody comes here very often....hint. Next time respond to someone else's post for your questions.
Not sure of the legalities, but ATrade has a nifty feature for linking accounts and accessing them, fwiw.....z
Here you can discuss Online Brokerages.
Halfway Decent Brokerages:
ETrade - Will let you trade ALL stocks. .
Interactive Brokers: $10/month, $1/Trade. Geared towards the professional trader, but you can't beat their fees.
Worst Brokerages:
ameritrade tdameritrade . Known as the Stock Nanny brokerage. They WILL NOT let you trade a LOT of runners.....and they make you PHONE IN the rest.
They also foster child mutilation subliminally on their web pictures.
I think they have PEDOPHILES in their mgmt!!!!!!
ChoiceTrade. Whatever you do don't go with them. Their online portal SUCKS, and they like to
FEE you to death. They seem to make those fees up as they go along.
***Top Twenty Brokers For Individual Investors***
1. Nobody here is a shill for this report.
2. You have to give them your email for free access to this 29 page PDF file: http://www.brokeradviser.com/ but access is immediate to this report.
3. Their report is the starting point for the below grid, which is a work in progress and NEEDS YOUR FEEDBACK to paint a true picture of these brokers, from a unique iHub point of view.
Please review and comment, below:
Volume | |
Day Range: | |
Bid Price | |
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Last Trade Time: |