The 6 Best Online Brokers Communist James Altucher-Style

Many of you read my 3,000+ word treatment on my experience with nearly a dozen brokers, explaining how I narrowed my list down to the 6 best and in comes a GChat from the best business blogger of our generation James Altucher (see why he’s earned that title)

ahh, you kill me .i really wanted to link to a post that was “the 6 best online brokers.” but give me the six brokers. dont tease!
no advertorial. if you give great content, people will come back.

So I’m gonna try something new and re-post a shortened and more mainstream version of my list of the best brokers with no trade examples, no links, no backstory, no advertisements…comment below this post if you prefer this way to my usual…and perhaps I’ll become a communist and share everything freely as Altucher does.

This broker list is tailor made for short sellers, but I’ve tried dozens of brokers over the years so I’m pretty confident in saying these are the best 6 I’ve ever dealt with so I added more info for non-short sellers.

Recap: The more of these brokers you have accounts with, the better your odds are of finding shares to short.

TradeStation: $5,000 account minimum, great charting tools, community, executions, customer service, best chance at finding shares to short of Nasdaq pumps…for special goodies, please contact Peter Albino Registered Representative, Toll Free: 888-735-1222, Phone: 954-652-7403, Fax: 954-652-5403, PAlbino@TradeStation.com

Thinkorswim: $3,000 account minimum, the BEST customer service, too many tools for one lifetime, great executions, but tough to get borrows to short sell OTCBBs/Pink Sheet stocks…no monthly fees.

SpeedTrader: same recommended as Thinkorswim since they both clear through Penson, but there’s a $25,000 recommended minimum to get better executions on OTCBBs/Pink Sheets (longs and shorts) and with $140ish monthly fees if you don’t trade actively enough to use their platform.

Broad Street: the one reputable prop firm I’ve ever dealt with which has good borrows to short, but you can only short intraday which SUCKS…monthly fee of $150ish for their platform….welcome to prop trading, good especially if you want to overcome the pesky Pattern Day Trading Rule.

Interactive Brokers: $10,000 account minimum, best for shorting OTCBBs/Pink Sheets, algorithmic trading, premarket trading, but shares to short go fast as its 1st come 1st serve, terrible customer service…I’ve sent them hundreds of customers and they won’t even consider an affiliate deal!

My special Broker is Capstone Investments…best overall for rich people who don’t mind $50k minimum, 500,000 shares traded each month and small fees so contact me to see EXACTLY how best to use them because there are rules and tactics I’ve learned over the past few months.

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  • notinterestingatall

    Hello,

    I wanted to short penny stocks.  I am trying to open up an interactive brokers account with 13k however they said I cannot short stocks.  I am confused.  How can I use your strategy if I cannot short stocks?  I know you recommended thinkorswim but you said they were not the best for the borrows if I remember correctly.  Is there a broker that will allow me to short penny stocks?  Which service did you have that only concentrated on buying penny stocks?
     

  • http://www.timothysykes.com Anonymous

    with $13k of course u can short, my guess is u have a cash account, u need a margin account to short sell, but probly dont even think about short selling until u get more educated!

  • notinterestingatall

     I wanna open up a margin account.

  • zachariah

    Tim, have you or anyone you know had experience with Choicetrade or TradeKing? I’m thinking about opening an account with ChoiceTrade because of very cheap commission rates at $5.00 as well as direct access routing options on a fee per share basis. You can buy up to 500k shares that includes penny stocks per order. They are also a penson cleared broker so I know the borrows won’t be anything significant. I’m a new trader / investor so I’m only starting out small margin enabled account, however I plan to have a portfolio of “higher quality” stocks but I would like some exposure to penny stocks.

  • http://www.timothysykes.com Anonymous

    i’ve tried all brokers, focus on my 6, dont deviate

  • http://www.timothysykes.com Anonymous

    so do it, its not hard

  • Guest

    short and to the point is better (in terms of blog posts at least) so Thanks Timmy awesome info!

  • http://www.penny-stocks-investing.net/ Kane

    I use Interactive Brokers, and think it is expensive for trading penny stocks because the big trading quantity.

  • http://twitter.com/Route26Fremont Narar

    You should really try Optionsxpress for short selling penny stocks. You can even short OTCs at Optionsxpress.

  • Wowzers

    Why did you decide to let us know on your “secret broker” now?

  • Kanefaggot

    shut up you faggot

  • http://pureandsimplefitness.com Frankiecooper

    i know that with TOS i can reserve trades via chat, but with tradestation, a) can i reserve shares? and b) if not, do i simply enter the order and cross my fingaz? or c) do i call someone (and what is the earliest i can do this on a trading day? thx

  • http://www.daytradingpro.com/ Day Trading

    Day trading needs, you can access a trading platform. This will ensure that no delay, immediately, any order you give. Thanks for sharing.

  • Yngvai

    Unfortunately OptionsXpress doesn’t let you short stocks under $5 anymore.  Sucks because they had borrows on LOGL, RAYS, and AMR…not sure why they even list these on their short list if they’re not gonna let you short under $5 anyway

  • Yngvai

    Unfortunately OptionsXpress doesn't let you short stocks under $5 anymore.  Sucks because they had borrows on LOGL, RAYS, and AMR…not sure why they even list these on their short list if they're not gonna let you short under $5 anyway