Best stock broker for penny stocks?

[Super_Geo]

I'm looking to sink ~$35k into a stock worth ~$1.50-1.75.

What's a good broker for buying 20-25k shares? I don't want to go through TD Waterhouse (my current broker) cause the fees are pretty brutal for shares in high quantities... but timing is also an issue. Don't want to mess around for too long and miss the boat.

Please advise.

[BigMass]

Originally posted by Super_Geo
I'm looking to sink ~$35k into a stock worth ~$1.50-1.75.

What's a good broker for buying 20-25k shares? I don't want to go through TD Waterhouse (my current broker) cause the fees are pretty brutal for shares in high quantities... but timing is also an issue. Don't want to mess around for too long and miss the boat.

Please advise.

etrade is quick and easy. If you overnight them the application they can have your account set up in a day or two and you can wire them the cash and have it in your account the same day. That's what i did. Havent had a problem with them yet.

[aklalani]

i use tradefreedom. almost the same as etrade, but id go with etrade as tradefreedom's platform blows. also depends on what market you are wanting to buy the stock on. tradefreedom allows you to buy on both the tsx and nasdaq/nyse but i duno if etrade allows that. something you should look into

[Canmorite]

Whoever you choose, you won't want to do it in one block transaction.

[Mckenzie]

I think questrade has the best fee structure and i'm pretty happy with them so far in terms of service...9/10.

[Rav4Guy]

DIY online discount brokerage accounts like eTrade or CIBC QuestTrade. Every bank has a discount trading account program as well should you want to compare prices.

happy trading.

[Canmorite]

If you're looking for direct access maybe try Interactive Brokers, too.

[Rat Fink]

.

[Schwa]

I need to bump this -- switching out of my RBC account.

Has anyone heard of Zecco? 10 free trades/month with a minimum 2500 in your account.

I'm also exploring the other options as well.

EDIT: Googled a bunch of reviews and Zecco seems sketchy.

IB looks good, but I can't tell if they offer real time quotes for no extra cost. Any idea?

[ExtraSlow]

http://www.surviscor.com/Reviews/OnlineDiscountBrokerage.aspx

These guys do ratings of the different Canadian online brokerages. If all you want is cheap trades, they rate Questrade and TradeFreedom #1 and 2, but they don't rate very highly overall.
The interface on the ratings sucks, but poke around a bit and see what you think.

Also, I hope this $35k isn't all your money. No matter what the stock is, it's a bad idea to have all your eggs in one basket.

[TYMSMNY]

Originally posted by Super_Geo
I'm looking to sink ~$35k into a stock worth ~$1.50-1.75.

What's a good broker for buying 20-25k shares? I don't want to go through TD Waterhouse (my current broker) cause the fees are pretty brutal for shares in high quantities... but timing is also an issue. Don't want to mess around for too long and miss the boat.

Please advise.

Let a professional broker work the order in for you. The commission you'll pay for will save you time, headache, and money. What's $80 if he/she can save you $100 on the trade? (yes.. it's $20 but think of it on a larger scale)

[RiCE-DaDDy]

isnt cibc investors edge the cheapest now? $395 gets you 50 trades which turns out to be $7.90 per trade and it gets cheaper to $6.95 for every trade after that. Which I would say is the LOWEST fee for any brokerage in Canada. The fee is for unlimited amount of shares and if you buy the same stock more than once on the same day, that still counts as 1 trade. It's good for my RRSP, but for non-registered, I would take a look at interactive brokers