Replies to post #74918 on $tacks Upon $tacks Of Moolah (STAX)

[sublime]

Zach..IMO you cannot beat freetrade.com

this is the link to their board on IHUB. GLTY, sub

http://www.investorshub.com/boards/board.asp?board_id=1471

[xmtlr]

Zach, Here is some info on brokers extracted from an OTC journal report. Hope it helps. There are many more. I use tdwaterhouse in Canada.


To OTC Journal Members:
Where To Trade OTC BB Stocks


Whenever I go through my inbox, there are invariably a few questions from members wondering which brokerage firm is best for trading OTC Bulletin Board stocks.

There are only two key factors to look at in determining where to trade: 1. The cost per trade, and 2. The speed and quality of trade executions.

Here are several major AVOIDS:

Never use a "full service" brokerage firm for an account you are managing yourself. Many of the major houses will try to dissuade you from trading in small issues. If you feel this high risk end of the market is for you, the full service brokerage firm will charge you too much money for a service you don't need. The broker might also be more concerned about his compliance department or saving your funds for his firm's ideas.
Never pay a "per share" fee. This fee is absurd. There should be one price to execute a trade no matter what the size in your self managed account. The brokerage firm's overhead is exactly the same for a $100 trade or a $100,000 trade. Unless their policies have recently changed, I believe both Charles Schwab and TD Waterhouse charge a per share trade. I was horrified one time when I was charged a $600 commission on a $3,000 trade at Charles Schwab. I bought 20,000 shares of a $.15 stock, and they charged me a per share fee. The account was closed within one week. Unless they have changed their policies, Schwab and Waterhouse are to be avoided.
Here are two online brokerage firms which I get excellent feedback on from investors:
WWW.AMERITRADE.COM: Ameritrade is the largest and probably lowest cost online brokerage firm. All online trades are $10.99, regardless of the size of the trade. According to their home page, if you open an account with them, you can trade for free for the first five weeks. You get free streaming, real time Level 1 quotes, which is all most people need. Level II (shows market makers bids and offers) is only $9.99 per month- well worth the cost if you are an active trader.
WWW.MYTRACK.COM: MyTrack is slightly more costly than Ameritrade, but highly recommended for more active and sophisticated traders. Trades run $12.95 regardless of size, and they offer the first week of trades for free. For an extra $5.00 per month, they offer comprehensive real time stock tracking software. More importantly, their trading software is "direct access", even for bulletin board stocks. It allows you to route your trades specifically where you want them to go. This will give the active trader a competitive edge. This is not "web page driven", so you have to download software to use their system. Highly recommended for the more sophisticated and active trader. For our friends across the pond, they have a UK version on their site which give British investors direct access to US securities.