Best Penny Stock Broker
Scottrade:
Scottrade restricts a lot of OTC and Pink Sheet stocks (AQUM, AXLX, XNRG for example); You go to place an order and an error message pops-up saying to contact your local office; When you do they say you can SELL the stock if you own it, but you no longer can BUY that stock. Then they give you a bunch of excuses why. Scottrade is probably the worst when it comes to restricting the buying of many OTC/Pink-Sheet penny stocks. Scottrade charges $7.00 plus 0.5% commission [So if you buy $100 worth of a stock they will charge $7.50 commission. If you buy $200 worth of a stock they will charge $8.00 commission and so on. And if you were lucky to make $100,000 on a penny stock and sold it, Scottrade would charge $507.00 commission; So keep that in mind when selling your stocks with Scottrade]. Scottrade has free LIVE streaming quotes (so you can see all of your stocks together in one window LIVE throughout the trading-day). And you are able to get the ASK and BID prices on OTC and Pink Sheet stocks in their QUOTES section. I do not recommend using Scottrade because they restrict the buying of a lot of OTC or Pink Sheet stocks; You may be able to buy an OTC or Penny stock one day, but a few weeks later if you want to buy more shares of that stock you may not be able to buy shares of that stock anymore because Scottrade restricted buying shares of that stock [This happened to me twice so far and I've only been with Scottrade for a few weeks].
optionsXpress:
optionsXpress only charges $8.95 a trade (Example: If you bought 50,000,000 (50-million) shares of an OTC/Pink-Sheet stock at .0001 cents a share = $5,000.00 plus the $8.95 commission. That's a great deal. optionsXpress also offers free streaming real time quotes for (non-professional) individual, joint, and IRA account holders as well as Trust accounts that use a social security number for the tax ID. Corporate accounts cannot receive real time quotes. Please keep in mind that for real time quotes, accounts also need to be funded. IMPORTANT: Because you trade OTC stocks you should also be aware that optionsXpress' platform will not provide Bid/Ask quotes for those stocks, it will only display the last sale. OptionsXpress does not charge an incoming fee for account transfers. You should check with your current broker to see if they charge a transfer out fee. To facilitate a transfer into optionsXpress, that request can be made at optionsXpress. If you are opening a new account you will be prompted at the end of the application to specify your funding method. Simply choose “ACAT” (account automated transfer) and enter in the contra firm info and choose “Full” or “Partial”. Once submitted, the optionsXpress transfer dept. will issue that request and bring the positions and cash over from the broker you are transferring out of.
Just2Trade:
Just2Trade has a 5,000,000 (5-million) share limit! So the most you could buy with Just2Trade is $500.00 for a .0001 cent a share OTC/Pink-Sheet stock. That's not good.
AI
