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bogblog

03/22/17 9:40 PM

#17072 RE: chico2663 #17069

If you trade pennies a lot, you should consider a brokerage that's known for being good at pennies. ET is the gold standard as far as I'm concerned because of their main competitors, TDA sometimes has weird DTC chill rules, and IB can be expensive.

Some brokers have weird rules or bad execution speeds on pennies. I'd recommend staying away from them if you're an OTC trader.

Pocket9s

03/22/17 9:48 PM

#17081 RE: chico2663 #17069

Capitalone is a conservative brokerage that discourages risky speculation. I have over a dozen penny stock positions that I cannot exit in that account which are still trading. Their back office freezes pennies and sub pennies without warning. I've caught them shorting illiquid stocks that I buy using otcshortreport when my trades were the only trade of the day. Then months later when they pop big I attempt to sell and an error message appears stating "invalid security."
BE CAREFUL! I've been screwed by them so many times. TDA or Etrade are the only brokers I'll trade pennies with...