The Best Penny Stock Brokers For 2013

bestbroker

A few months ago I wrote this post about the best brokers for short selling penny stocks, but as usual the list has changed.

Because as my students know the stock market is a living breathing organism that’s constantly changing so in order to be successful, you can’t just memorize (although these 7 free lessons help tremendously)…you must understand how the market works, the motivation of all the players, the mistakes most people make, the odds and risk/reward of various opportunities, the ability to choose the best ones and then constantly adapt in the pursuit of success.

Then make a ton of $ so you can enjoy a crazy $235,000 car like I do:

This is how my students have now made over $5 million in trading profits, all detailed here, and over a dozen of my trading challenge students have made $100,000+ each in just a few short years since I began teaching.

So here’s a rundown on the best penny stock brokers for the start of 2013:

1. SureTrader is by far my favorite broker in 2013 as when you open a new account HERE you can be sure you’ll be getting the best borrows for short selling penny stocks which is my main source of predictable steady income…you can read my initial review of Suretrader from several months ago, but they are far and away my favorite broker due to a low required minimum of just $500, no pattern day trader rule, increased leverage (for those who use it) and a recently added list of 10,000 shares to short since they added a new clearing firm to their arsenal. Sure, sure they have customer support, website and software issues since they’re still new and small and yes they are offshore (hence why their customers aren’t subject to the absurd PDT rule), but the beauty of their business model is that they have multiple clearing firms which means better borrows…and as someone who has made millions shorting the worst companies in the world, I’ll tell you much of my success is due to finding borrows. Unlike other brokers with great borrows, SureTrader‘s minimums are low so the borrows are accessible by everyone…and understand they specialize in having shares to short of stocks between $2-5/share…not necessarily the ultra-low-priced ones which isn’t the end of the world though because it’s scary to short stocks under $1/share as the risk/reward stinks.

I am a proud SureTrader customer and affiliate and I am truly grateful for their existence, especially for all the international people who email me every day asking for a quality penny stock broker.

2. Interactive Brokers has the single worst customer service of any company, financial or otherwise, that I have ever dealt with and if you have any issues with trades, executions or software glitches, expect them to screw you…because they only care about their bigtime hedge fund clients, not about anyone with less than $1 million and certainly not anyone with less than $100,000. I applied to be an affiliate weeks ago and they sent me an email saying they will let me know within the next month. (Conversely, we accept Profitly affiliates same day HERE and we paid out nearly $50,000 last month in affiliate commissions)

That said, they have great borrows to short sell penny stocks, especially on stocks under $2/share and even stocks under $1/share. Some of my ignorant haters mistakenly believe it’s impossible/illegal to short sell stocks under $1-2/share…nope, IB has been allowing me to do it for years.

3. I’ve also made millions buying penny stocks so you don’t always need to trade through these customer-service-challenged brokers that specialize in finding good borrows…I’ve had an account at Thinkorswim, which is now a part of TD Ameritrade, for years and their customer service is top notch.

4. Speedtrader is another online discount broker I use for my long positions as they are competent and their commissions are extremely low.

Posted in Brokers

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  • John M

    Keep in mind with Suretrader, they enforce the illiquidity rule – so anyone playing promos, pretty much have to rule them out for day 1 trading

  • JRH

    SureTrader looks great, but required a bank reference and a second form of id, like a passport, which I don’t have. Which would the best option be for someone starting out that is really at the bottom – dealing with $500 as a starting point?

  • ValuelessTrader

    JRH, any reason why you cannot get a bank reference? It’s pretty simple. SureTrader isn’t validating references. You can give them your Aunt Millie’s number. Lol. Joking obviously & not encouraging you to lie, but just walk into any bank, most likely easier if you have an account there, and ask them if you can use them as a reference for a new brokerage acct that you are starting. No biggie. That’s what i did. Hope this helps.

    -ValuelessTrader

  • http://twitter.com/goodetrades Michael Goode

    Save more money. Working an extra 10 hours per week at minimum wage should net you $50 per week, and in only 3 months you would have more than doubled your $500. Obviously more is better.

  • http://www.facebook.com/people/Blake-Richard-Bull/673710087 Blake Richard Bull

    If you can’t supple basic information like that. I doubt the stock market is a good place for you to make money, or even contemplate on making money.

    Sort your life out a little.

    Save up some money that you are comfortable losing. Because, worst case scenario you may lose it all.

  • Mike

    So Think or Swim is good for shorting hard to borrow stocks or no?

  • http://www.timothysykes.com timothysykes

    no read the damn blog, are you kidding me?

  • Mike

    Excuse my degeneracy.

  • Don’s Daily Dynamite

    Thanks really appreciate the Free $$$

  • keyama

    thanks tim… researching much as pos… actually watched all ur video maybe 5 times… lol…

  • Desmund Lighten

    What is the illiquidity rule, and if i do wish to play promos what would be the proper platform ?

  • Paul Lewallen

    Awesome information Tim! I was wondering about the PDT rule and stressin’ out. I love the car. Thank you Tim!

  • Paul Lewallen

    Thank you Tim! It’s good to have several options. It’s all new to me so I appreciate the information you provide.

  • http://www.facebook.com/josue.contreras.568847 Josue Contreras

    Thank you Tim, so much!!! :D

  • http://calcobrena.com/ Ami Iverson

    Thanks Tim. I’m looking to open an account with ST soon :) TDAmeritrade is great, but yeah, they don’t let you short sell the OTCs so you are stuck hunting sure bets to go long and get out.

  • jack

    You rented that lambo i can see the yellow tag on the car key.

  • http://www.timothysykes.com timothysykes

    nope i bought it, dealer tags moron

  • etjen

    your car is gay ;) people with style have aston martin :)

  • Epcap

    Aston Martins looks like a Toyota corolla next to a Lamborghini-goof

  • mary borrow

    I think you make a living through affliate commision and training not penny stocks.You talk like an online marketer

  • B&M Shipping

    I own a business and am interested in selling a share of my company. How would I go about that?

  • dan

    Can you recommend a broker for europe? thx

  • MrDax

    Why are reviews for SureTrader on Investimonials so bad ? People complain there are hidden fees, terrible customer support, hard to wire out money , etc…

  • Steve

    damn you guys, you are all just jealous from Tim, fuck humans, they don’t like when someone is happy and own what most of you don’t have.. reading your stupid comments make me sick to hell.
    I’m 21 years old, and all I do is work hard and read every single comment from big traders like Tim, to learn from their strategies and their mistakes. and what most of you is doing, posting shitty comments showing their stupidity!
    I hope you guys show him some respect because he worked hard to reach his goal, he wasn’t hanging out every day to have fun and then when he went back home found all the money he has.
    I’m really proud of you Tim, you deserve my respect

  • spash

    I’d like to know, too, please.