I currently live in Canada and trade on the Canadian exchanges. I trade primarily in penny stocks (under $2.00) and am able to trade quite successfully at it. Due to the different type of market I am not interested in trading on the US penny markets (Bulletin Board & Pink Sheets). There are other exchanges (e.g. Australian, LSE) that I am very interested in trading on but I cannot find a way to do it. I am not interested in the large-caps on these markets but rather the sub $2.00 stocks. I have looked into opening an account but they always require you to have a residence in that country. Does anyone know a way that I can actually do this? Could it involve a PO box or something? Thanks, Brian
IB will allow you to trade only certain stocks which tend to be the larger cap stocks. I currently scan about 1800 stocks looking for those that have become very cheap (usually due to 1 person dumping shares). I can't do that with IB's selection of issues on foreign markets. As to why I don't like the US market? It is rather different than the Canadian exchanges in that the real cheap stocks (which tend to have more volatility which is how I make money) are with Market Makers which change the whole equation. On the Canadian exchanges I can see the exact bid and ask as well as the market depth and I am able to more accurately predict the short-term (from 1 hour up to 5 days) direction of the stocks. Brian
I assume you trade stocks on the TSX Venture Exchange, which I believe was the Vancouver Stock Exchange. Have they cleaned themselves up? Or do they still welcome the scammers?
I trade on both the TSE and the TSE Venture (the old Vancouver exchange). I wouldn't necessarily say that it is totally cleaned up as you do need to be careful but it is not as bad as the BB or Pink Sheets. Brian