Replies to post #33049 on Magellan Energy, Ltd. (MGLG)

[heelsgo1]

No, I can buy as many shares as I want and it's 7.00/trade, but if you buy under a penny it's a percentage more so like 7 and change depending on how many shares you buy.

[card]

Based on the current bids/price to purchase pinks with Scottrade you add 0.5% to the purchase/sell. for example:

First: 1,000,000 shares x $0.0006 = $600.00
Second $600.00 x 0.005 (0.5%) = 3.00 + $7.00 for the trade = $10.00 total trade cost
Third: $10.00 trade cost + $600.00 for 1,000,000 share = $610.00

to sell, First: 1,000,000 shares x $0.0007 = $700.00
second: $700.00 x $0.005 (0.05%) = $3.50 + $7.00 for the trade = $10.50
Third: $700.00 for shares - trade cost of $10.50 = $689.50

if you were able to flip those 1,000,000 shares that way you have a profit of $79.50 not counting capital gains

Scottrade charges 1/2 percent for pinks, otc and i believe anything under a dollar, not positive about the under a dollar

hope i replied to the right person. lol