Best brokers for mid-long term trading?

Discussion in 'Retail Brokers' started by Mirzy, Dec 10, 2012.

  1. Mirzy


    Hi guys. Can you please give me a suggestion of the best brokers for mid-long term trading. Like for weeks to months. I am looking to trade mainly equities and possibly options in the future but it is not important right now. I am curious because I have been day trading until now so am not well educated on other types of brokers. What are some factors I should look for when choosing a broker? Also, when you put money in with a broker, do they hold it for a year no matter what like is the case with prop shops? Thanks for any info you can give me!
  2. Mirzy


    I don't know if this matters but I am mainly interested in pharmaceutical stocks, some of which are priced under $1. Do all brokers allow penny trades?
  3. 2rosy


    thats long term? any broker will do. for my personal investments i use a broker with kind of high commissions and crappy website mainly so I dont churn myself.
  4. Dvdman


    PM me if you are still looking!
  5. nursebee


    I'd suggest using the brokers button at the top
  6. Mirzy


    Thank you all for the help. Can you please tell me if my definition of penny stocks is correct? The way the SEC describes it is a stock under $5 correct? It seems when I Google it, the definition means over the counter pink slip stocks. So, going by my definition, would any broker of good quality be okay with stocks under $5 that are listed or are there caveats to watch out for with these low priced listed stocks too?

    Thanks again for all of the help!
  7. NoBias


    The Caveat for sub $5 equities is many/most Fund Managers will not hold them in their portfolios. Lose the Fundies, lose a significant amount of interest and daily volume.

    Not sure why you are focusing on $1 stocks, I personally filter for >$5 & > 1MM "ADV" average daily volume, [exception being for volatility events, earnings, etc... when the volume can be 2X/3X an equites normal "ADV" and I take the relative volume into consideration.

    Any good Broker should be fine for sub $5 stocks as long as you stay away from the pinkies.

    Interactive Brokers is a safe broker [as safe as one can be in this current environment]. Caveat here being you qualify, minimum acct balance, experience etc... IB isn't known for hand holding...
  8. Mirzy


    The reason I am asking about sub $5 stocks is to play the biotech industry and it's huge leaps from penny's to $20+ dollars with minimal risk. Of course that is not a very tried and true way to trade and will not be my main focus but I want to have a few biotech stocks on deck before I believe they will begin to soar in the short term.