Years ago, I passed IB because IB charged a per share commission not a flat fee, so it is very bad for penny stocks. Today when I search for broker for futures, I found they have a max cap of 0.2%. This is not bad, if I trade $0.5x5000 that will be only $5 which is same as lowtrades and izone. 50c for 10000 shares will be $10 same as TD.Ameritrade. Is this 0.2% max cap new?
What if you want to by 20,000, or 50,000, or more, which is not uncommon when buying the OTCBB. Try MB Trading. They charge $8.95 regardless of the order size. If you ever plan on buying more than 5K shares it's the way to go. I have been happy with them, but that's just one mans experience. Good Luck with your trading.
MB is no good, because 8.95 flat only good for OTCBB and Pinky. I like pennies on Nasdaq and Amex, much safer than OTCBB and Pinky.
By my understanding when people are talking about the pennies, they are talking about the OTCBB. There aren't many stocks listed on the NAZ trading for a dime. At any rate, I was just giving a suggestion. To each their own. And yes, the OTCBB is very risky, but can be very profitable if you know how to play it, and it is very much a game.
there were a lot of non OTCBB pennies with great returns IIP 200%, SVVS 200% gain, LOOK 50%, INFO looking like to get 50%. A lot Nasdaq pennies are forced to go over $1 to meet listing requirement. Some are reverse split. Those are much better investments, because they have a clear 10Q/K history, frequent SEC fillings, large investor base, better coverage -- Most are down from $10, $5 within one year before they become pennies. A lot of large investors try to bail themselves out. I have had not made one single loss in 3 years, out of 30-40 stocks.
First off, let me congratulate you on your profitable investments, and I mean that in all seriousness. However, I do think we're discussing two entirely differant styles of trading. You're looking for the beaten down company with some credible history. A somewhat risky, but sound strategy. When I trade the OTCBB I really don't care if they're legit, or not. I'm trading, not investing. What I look for is a strong PR department that pumps the stock. Yes, the company may be a scam. I couldn't care less. All I'm looking for is to be in on the run up and then dump on the poor soul that comes to the party late. Say what you will, it can be profitable and that, as they say, is the bottom line. Again congrats on your trades.