Having more brokarage accounts...!?
I already have account beside Scotrade but it doesn't allow me short selling for bellow $5 stocks....so can i open another account which can tolerate me go ahad with short selling for bellow $5.thankfulness
Answers: I have two brokerage accounts;
ThinkOrSwim (my favorite).
Interactive Brokers.
If there are ample shares to "borrow" each will let you short
any stock.
Shorting penny stocks is plain crazy! I short seriously. Never stocks under $20.00.
Yes you can open another brokerage tale, you can have as many as you want.
All firms are govern by the same rules and regulations, and the more reputable firms have adopt their own set of rules that are more stringent than those governing the industry.
Any firm that lets a customer sell short a stock which is selling below $5 a share can be considered a definite bucket shop who couldn't care less in the region of their customers, nor the rules and regulations.
Any customer that wants to sell short a stock which is selling below $5 a shares is a fool.
If you're going to play contained by the game, you should play by the rules, those that don't will eventually get it hand to them big time. No respectable trader/investor would circumvent sound rules and policies, that only for the not conversant and naive.
Not sure who all offer margin for shorting stocks below $5. At thinkorswim.com you need the greater of 100% fringe or $2.50/share margin for any short stock below $5. Or minimum margin is $5 for $5 >= stock price < $17. The interrogate is why would you want to short a stock under $5. Be happy they don't allow you to do that. They're protecting you. Chances are that company will be bought by another... and you're be all right "out of the money."
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Answers: I have two brokerage accounts;
ThinkOrSwim (my favorite).
Interactive Brokers.
If there are ample shares to "borrow" each will let you short
any stock.
Shorting penny stocks is plain crazy! I short seriously. Never stocks under $20.00.
Yes you can open another brokerage tale, you can have as many as you want.
All firms are govern by the same rules and regulations, and the more reputable firms have adopt their own set of rules that are more stringent than those governing the industry.
Any firm that lets a customer sell short a stock which is selling below $5 a share can be considered a definite bucket shop who couldn't care less in the region of their customers, nor the rules and regulations.
Any customer that wants to sell short a stock which is selling below $5 a shares is a fool.
If you're going to play contained by the game, you should play by the rules, those that don't will eventually get it hand to them big time. No respectable trader/investor would circumvent sound rules and policies, that only for the not conversant and naive.
Not sure who all offer margin for shorting stocks below $5. At thinkorswim.com you need the greater of 100% fringe or $2.50/share margin for any short stock below $5. Or minimum margin is $5 for $5 >= stock price < $17. The interrogate is why would you want to short a stock under $5. Be happy they don't allow you to do that. They're protecting you. Chances are that company will be bought by another... and you're be all right "out of the money."