Many online brokers are suited quite well for penny stocks, others, however, are horrible. The first and foremost feature to check is share limitations. With penny stocks you will be purchasing as many as a million shares or more at a time. A half a penny extra per share over say 1000 shares doesn't sound like much, but a million shares will cost you an extra 5000 dollars, and thatâs just to get in. Most brokers that offer no share limitations typically charge a tiny bit more per trade, but it is definitely worth the cost. 1) With all of the online brokers today, which one best fits the description? 2) Can you buy penny stocks with options? Calls, puts, ect.
1) http://www.interactivebrokers.com/en/main.php 2) Not many stocks under $5 with options. There are a few, but they usually don't last long and don't have very many strikes (usually only a strike at 5). Some bigger cap names like SANM have a few strikes and some volume.
Either way if your focused on trading peeny stocks you will fail, so just send the check to a random address. P.S. adress it to CASH.
lol, buy a million shares of a penny stock? What fucking piece of shit penny stock has that kind of liquidity? Don't waste your time.
tdameritrade choicetrade IB ( only .5% of total thing so 1000 shares is $5) and you can short theres better things to trade(futures, options) there are some very rare occassions where playing pennies is a good deal hehe but i can't talk about that on ET
RML Trading ChoiceTrade MBTrading LowTrades Zecco RML offers the most pricing plans, Zecco has the best price, bar none, if you make only a few trades per month. The recommendation of InteractiveBrokers by others, is very costly for trading large blocks of penny stocks.
Interactive, like I said. Best combo of fees/service/platform for options, for the retail trader.. And, yes, IB competes very well in most commission structures, Bundled, or Unbundled, with those others. Why take a chance with 3rd, 4th, or 5th tier brokers? Just stick with the biggest and best. Good trading to all. http://www.interactivebrokers.com/en/accounts/fees/commissionFutures-FOPs.php?ib_entity=llc