What is Best online Broker Fee for pennystock
Online Brokers
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Apr 9th, 2009, 07:21 PM
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#1
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HSM Enthusiast
Join Date: Apr 2009
Location: Suburban district ( origionally countryside)
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What is Best online Broker Fee for pennystock
Some online brokers charge 1/2 cent a share for stock under 2 dollars and stock traded over 5000 shares. If i am reading this right this makes it impossible to trade in pennystock, is there a way around this fee, can anyone recommend a good online broker for pennystock.
zecco
first trade
noble
*For stocks at or under $2.00 and trades over 5,000 shares, add 1/2 cent per share for the entire order.
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Apr 9th, 2009, 09:10 PM
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#2
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HSM Enthusiast
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None. There is no good way to trade penny stocks. You're better off in a casino or at your local lottery retailer.
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Apr 9th, 2009, 09:31 PM
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#3
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Moderator
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Quote:
Originally Posted by blanchedsoldier
Some online brokers charge 1/2 cent a share for stock under 2 dollars and stock traded over 5000 shares. If i am reading this right this makes it impossible to trade in pennystock, is there a way around this fee, can anyone recommend a good online broker for pennystock.
zecco
first trade
noble
*For stocks at or under $2.00 and trades over 5,000 shares, add 1/2 cent per share for the entire order.
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My opinion is Zecco at $4.5 and ChoiceTrade at $5 per trade are the two best economical options for trading penny stocks. You're not going to get the bells and whistles with them, but you can get your tools from other sources.
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Apr 9th, 2009, 09:41 PM
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#4
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Other than slow screen loads, I have no complaints with Zecco. Be aware that Moneyshaker may try to chime in with his "refer-a-friend" Zecco link... 
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Apr 9th, 2009, 09:44 PM
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#5
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HSM Newbie
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Granted I'm quite the noob...I use E*Trade with their MarketTrader platform since I have a lot of other accounts through them...and I just opened an account with Zecco to give them a try...
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Apr 9th, 2009, 10:10 PM
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#6
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Thanks simonyadig, I have also heard TD Ameritrade are penny friendly. I am wondering if firsttrade make it possible to trade in pennystock or are there fees prohibitive.
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Apr 9th, 2009, 10:30 PM
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#7
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Quote:
Originally Posted by mmm...Jaz
Other than slow screen loads, I have no complaints with Zecco. Be aware that Moneyshaker may try to chime in with his "refer-a-friend" Zecco link... |
Same with ChoiceTrade, they both aren't the quickest platforms, but they are fine for most normal penny traders.
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Apr 9th, 2009, 10:43 PM
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#8
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Moderator
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Quote:
Originally Posted by simonyadig
they are fine for most normal penny traders.
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 "Normal" you say...no wonder I can't make any damn money!
__________________
Moderator Disclaimer | TOS | StockJock-e's educational videos | Contact Us
• Make a profit, no matter how large or small;
• Keep all losses small and manageable.
• Remember, Get In, Get Profit, Get Out and Get Away!
"Though the path has not been smooth, our economic system has worked extraordinarily well over time.
It has unleashed human potential as no other system has, and it will continue to do so. America's best days lie ahead." - Warren Buffet
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Apr 9th, 2009, 10:59 PM
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#9
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What I meant by normal is non-daytraders. Penny stocks aren't really suitable for the normal active daytrader who is looking for liquid stocks to trade in and out of a bunch of times a day. It you are daytrading like that, you need a platform for daytrading. I'm not saying you can't make a daytrade here and there with pennystocks or either of those brokers, but in the true sense of the word a daytrader should be trading something much more liquid than penny stocks.
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Jun 26th, 2009, 08:19 AM
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#10
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HSM Newbie
Join Date: Mar 2009
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Sogo is 1/2% of overall volume with a $27 minium.
So you spend $100 on penny stocks you pay .50
But I agree, going to the penny slot machine might give you a bit better odds then penny stocks.
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