PDA

View Full Version : Which site is best to trade in penny stocks?



likesmoney01
06-19-2014,
I want to get started on trading penny stocks. What is the best site for this?

A website I can trust and one that would have an auto sell if + ___ type automation.

Street Authority
06-19-2014,
I ended up on Thinkorswim. It'll do all that and way more and it's free. But I'm sure most platforms can handle that.

However for my penny stock money I like to use "The Golden Nugget"....it's on Freemont St. I've lost less money there than anywhere else but they give better odds than the penny markets.

AbnormalReturns
06-19-2014,
There is no website you can trust on these. Cause either A they are paid to pump the stock and the financier of the promo dumps his shares or B they (promoter) pre-load it, then dump it to their followers.

In A) if the financier is not a pig, they will usually let the underlying move up to get a higher price for their shares. Most of the time they have either free shares or deeply discounted shares. These type you can flip it and make some money. If they are pigs, then you are best to just leave it alone as they will dump at the open bell. Most of the time gaping it up to dump into that gap.

If you are talking OTC/Pinks (pennies) then you best brokers are E*Trade, Sure Trader, or IB. The first allows you to trade anything regardless of the price for the same fee. Sure and IB are retailers that have shares to short against on the OTCs. But they have some higher fees associated with them.

TDA, Scott, and a few others would be the last choice as they do not always allow you to trade everything.