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Re: jcradio post# 3823

Wednesday, 02/18/2004 9:11:23 AM

Wednesday, February 18, 2004 9:11:23 AM

Post# of 279080
Hi Joe,

Well, that sounds like a plan if all the attributes of their service works for you.

Here's some more data I found:
The following report provides discussion and links to the best discount brokers specifically for penny stocks. It is important to get a broker that best meets their specialized needs. Appropriate brokers should generally have lower commission rates, trade in lower priced shares without penalties, and allow for lower minimums.
While some brokers do not even allow for trades in penny stocks, the following are among the best from those discount brokers that do have favorable trading policies.

BROKER
OVERALL RANK 1 2 3 4 5
COMMISSION PRICE 1 2 4 3 5
RELIABILITY 1 3 2 4 5
CUSTOMER SATISFACTION 1 2 3 4 5
CONFLICT RESOLUTION 3 1 2 5 4
CUSTOMER SERVICE 3 2 1 4 5
SPEED OF EXECUTION 1 2 3 4 5
TOTAL SCORE (lower is better) 10 14 18 28 34

OUR NEW CHAMPION: Lowtrades.com
Lowtrades has no minimum to open an account, charges only $5 per trade, and allows for transactions in all types of penny stocks. Their customer service leaves a little to be desired, and don't count on getting a lot of help over the web or on the phone.

For penny stock traders, Lowtrades.com beat all the other brokers hands down.
THE BEST OF THE REST:

Trading Direct
Trading Direct is a great, small, privately owned brokerage firm that caters to those who are o.k. with a minimalist approach (short on research and news). What Trading Direct does offer is competitive prices. There is no minimum balance required for cash accounts, but there is a $2000 minimum to initiate margin trading. The annual maintenance fee is $60, but this is waived if you conduct one trade per year. If you register over the internet you can be up and trading in 24 hours.

Their on-line commission fee is $9.95 for any number of shares; broker assisted commissions are $29.95. Trading Direct allows for trades in penny stocks, including OTC-BB, and Pink Sheets. Trading Direct reserves the right to reject market orders for stocks under $1.00. They actually prefer your penny stock trades be limit orders. Trading Directs Customer Service is available from 8:30am - 5:00pm EST and they are fairly knowledgeable and friendly.

Scottrade
Scottrade slipped from our top spot only because of improvements in Datek and Lowtrades. We like Scottrade and recommend them highly. There is a $500 minimum to open an account, and 75% of trades must be done online, but for most of you this will not be a problem. Commissions for stock under $1 are $12 and 1/2% of the total, which is very good compared to most. Add in Scottrade's reliability, ease of use, and customer service and you will quickly see that you are in good hands.

Ameritrade
If you can get past the $2,000 minimum to open an account, Ameritrade could be the best broker on the board. It is also the most international-friendly, because you can open an account from just about any country on the globe. We dislike many of their 'fine-print policies' however, like a $60/year charge if your account falls below $2,000, and a few other hidden fees. Limit orders for penny stocks are $13, and market orders are $8.

E-Trade
E-trade would not even have made our top 5 if Fidelity (just off the list in the number 6 position) didn't have outrageous commission fees. E-Trade still has not replied to our last e-mail asking for updated commission schedules, and they boast only mediocre accountability and customer satisfaction. Their commission fees are competitive, but not low enough to make us overlook all their other shortcomings. However, they do have an easy to use trading interface, and allow for trades in most penny stocks.

http://pennystockinsider.com/brokers.htm

John smile

.......According to the Great Pumpkin, ".....You're in .....iHub....., Charlie Brown....."!!!

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