Who is the best broket for OTC and pink sheet stocks

Discussion in 'Stocks' started by millydog, Jan 25, 2007.

  1. Hi all,

    I am looking for a discount broker that can provide access to the OTC and Pink sheets with a low account min.

    I closed my IB account after having it for 5 years, because I trade futures exclusively now.

    I got a hot tip on a penny stock that trades on the OTC.

    I never bought a stock based on a hot tip or a penny stock period. But this one seems to be pretty good and I want to put $500 or $1000 into it and see if it pans out.

    If I loose it, no big deal, that is why I need a broker who can provide access to a broad range of penny stocks and requires a low min initial deposit, because this is going to be a one shot deal.

    I think IB now wants 5K to open an account and they didn't even have this stock listed for trading , so I am not going to re-open that account for 1 trade.

    Any Ideas, I really have no clue on how to buy a penny stock, never did it before.
  2. blast19


    I'd say go to Ameritrade...but I f***ing hate them with a passion.

    So, in that case, I'd say to Scottrade....I used to trade exclusively pennies and still have some friends who use them.

    Good luck.

    What's the stock if you would like to share?
  3. Well, Ameritrade want's 2k to open a new account, and I only want to put $500 or $1000 into this gamble.

    Scottrade only wants $500 to fund an account, but can they provide acsess to any OTC stock.

    I'll share the stock with you all but please don't accuse me of pump and dumping.

    The stock is a real dog by the way and looks like a terrible investment from the research I did on it.

    But the source of information was very good. And NO, I am not acting on insider information.

    I'll PM you the rest

  4. You can trade OTC on scott. Anything under a buck you pay the 7 dollar trade plus 1/2% of the principal.

    And i agree sharing is always incouraged! :)
  5. best bet is ameritrade since your just beginning
  6. What do mean about just begining. Is it complicated or something.

    Ameritade want's 2K to open the account, Scottrade only want's $500.

    And I am only planning on buying $500- $1000 worth of this 1 stock period.
  7. ElCubano


  8. After playing OPBL.OB for the past couple days and balancing my trade log in excel i noticed that MB Trading charges $9 per OTC trade :mad: I know its on the website but I have never traded an OTC stock before so I didnt notice. Sucks.
  9. blast19


    Most retailish brokers charge flat rate $9 or so per trade...when you're trading OTCs and buying 25k shares of a stock it's nice to pay flat rate and not per share...trust me. :D
  10. ?

    IB is a great futures broker.

    And stocks. And options. And markets world wide.

    Doubt you will find a better broker for the average retail account.

    Best to all. :cool:
    #10     Jan 26, 2007