The 6 Best Online Brokers Communist James Altucher-Style - Timothy Sykes

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,

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

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Timothy Sykes

Hey Everyone,

As many of you already know I grew up in a middle class family and didn't have many luxuries. But through trading I was able to change my circumstances --not just for me -- but for my parents as well. I now want to help you and thousands of other people from all around the world achieve similar results!

Which is why I've launched my millionaire challenge. I’m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.

So when you get a chance make sure you check it out.

PS: Don't forget to check out my free Penny Stock Guide, it will teach you everything you need to know about trading. :)

  1. notinterestingatall


    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?

  2. 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!

  3. 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.

  4. Guest

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

  5. Kane

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

  6. 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

  7. 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

  8. 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

  9. Hammad Hassan

    Tim, the biggest problem now a days is that almost all the brokers you mentioned above don’t want to open account for foreign citizens. IB is good but 10k is too much. So I have selected OptionsXpress. And you know, Suretrader is not very good (according to your students). Can you help in this scenario?

  10. NatePennington

    Tim, as a brand new penny stock investor with 0, I’m talking days experience, would you recommend etrade or optionsxpress for a broker account? Thanks and appreciate what you are doing for the trading community. Nate

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