Brokers

[nyeard]

I've been having trouble buying certain stocks using scottrade. I wanted to buy biel and htds for example and they wouldn't let me do it. They have rather large restricted list. Are there any online brokers that will let you buy any stock you want.

[prince8686]

Get a schwab account, they charge slighter higher a trade, I pay 9$ a trade but I can trade as many shares I want and any stock even if it is OTC PK or any other exchange. scott trade sucks with non major stocks

[nyeard]

thx. i will check them out

[DogDayTrader]

I've been having trouble buying certain stocks using scottrade. I wanted to buy biel and htds for example and they wouldn't let me do it. They have rather large restricted list. Are there any online brokers that will let you buy any stock you want.

I too have recently noticed this. Below is a question I recently posted on another board asking one of their supposed "PR" people what they are doing about it. If I get a response I'll be sure to post it so that others can form their own opinions.

DogDayTrader Says:
September 18th, 2009 at 9:20 pm

Amber:

Hello,

I have been a ScotTrade member for some time now and it seems to me that recently ST has been placing more and more stocks on it’s restricted lists. While I fully understand the reasoning behind it, I am a technical styled trader that recently got more involved in penny stocks. Lately it seems that once a stock is on the breakout, I am not able to capitalize on it as it has recently been added to your No Buy/Sell Only list. My question is: What is ScotTrade doing to rectify the situation? Thanks in advance for your time and attention to this matter.

B.T.W. It’s nice to see a rep from the company on these boards.

DDT

[advalorem]

Interactivebrokers has the best prices; best features - if you are using your personal computer and can download the software - bar none.

Thinkorswim.com is terrific for cheap trade commissions for both options and stocks.

I have found the thinkorswim.com has the best trading platform on the iphone. I never had any luck with a Blackberry as I didn't have a designated trading device, it was jut a regular 8830 model.

Besides these two brokers, I haven't found one that I would use or recommend. I used to have brown.com, but it was bought out by Etrade.com. They are 2 of the highest rated in the annual Barrons broker comparison, so it's not a surprise to anyone.

[DogDayTrader]

Well, I got a response from Amber (the PR rep.) to the question posed in my previous post and is included below. To me it sounds like the same form response I have heard and read about before, basically no new insight.

Amber Says:
October 5th, 2009 at 9:44 am

DDT - To combat fraud losses related to low priced, low volume or other at risk stocks, we have implemented a number of measures. These include turning off online order entry for a stock or using an order screening algorithm, which determines whether we will accept an order online. We review our anti-fraud measures frequently, but we do not have any specific time table by which changes are made. Should you have any additional questions, don’t hesitate to contact us at 800-619-7283.

Best, Amber

Scottrade Online PR Specialist

[jcostanz]

zecco for sure...i have scottrade and zecco...zecco has no restrictions like scottrade does

[moonpoint]

I like ameritrade(I moved over from etrade).
They also have some promotions going at ameritrade.com - 30 days of free trades

[andmic]

Try InteractiveBrokers. Seems OK to me. No problem buying Pinksheets stocks. But requires at least $10K initial deposit.