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.
Posted in Brokers
