Quote:
Originally Posted by teomaxxx
I use IB and they are simply best for penny stocks. with mbtrading and other brokerages, you will have problems with their clearing firm Apex (former Pension).
you can also use choicetrade as they have a good clearing firm.
btw. see my thread about pennystocks here:
https://gfy.com/showthread.php?t=1040174&highlight=spin
main stock actually got destroyed, but it went up as high as 150 percent.
second one 500 hundred percent gain and i expect to grow it a bit more
third one around 50 percent gain and i expect to grow it a bit more |
Could you elaborate on that a little? I'm still trying to figure out for sure what a "true ecn broker" is... I know I don't want anyone with a "dealing desk" where they try to match orders internally before they go out to the market..... The MB Trading guy on the phone told me that they're an "exn" broker which is essentially the same thing??
Checks are "payable to apex" so that sounds like you know what you're talking about..
http://www.mbtrading.com/commissions.aspx?page=Stocks Here it says something about "proprietary MBTR routing engine" and I can't find any information on that anywhere
At this rate Etrade is looking really good too because of their software- it looks solid and can do just about everything important (especially real LII which I think is available on most pennies... the companies just have to pay a small fee and most OCTQB seem to have it)
I WOULD LOVE to be able to use IB!!!
Do you allow trading of sub penny stocks? 0.0001-.01 range? What is the commission on those, is it really limited to 5% of the total trade? Any surcharge?
Thanks
2013/01/16
02:10:25 IBCS Dear Mr.
Yes. If the stock is quoted in sub pennies on the exchange, we allow orders to be entered by the markets pricing convention. We do cap IB commissions at 5% of the total trade value. There is still the $1.00 minimum. I have provided some additional highlights that should help you while you are in the process of choosing a broker below.
Compare us to other brokers. It's important to search 'report 606' and the brokers name for anyone you consider. You will see if their orders are being routed to exchanges or market makers that pay for a first look at your orders.
http://www.interactivebrokers.com/en/index.php?f=1340
See how IB's conservative investment strategy over the last 35 years has lead to what we believe is the safest place to keep your hard earned assets.
http://www.interactivebrokers.com/en/index.php?f=2334
Application: We provide 24 hours a day application support. You will see a suite of options to request help during the online application that should take no longer than 20 minutes.
http://www.interactivebrokers.com/en/index.php?f=4695
Customer service 24 hours a day. If you should have any additional questions, please call us immediately.
http://www.interactivebrokers.com/en/index.php?f=1560
Regards,
Salvatore