hhiusa
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I would agree with you about the leverage. Few people seem to have the foresight that you have. It reminds of the turtle and the hare. Slow and steady wins the race.
UK Broker for trading US NASDAQ and OTC stocks
- Thread starter kensingtonman
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I would agree with you about the leverage. Few people seem to have the foresight that you have. It reminds of the turtle and the hare. Slow and steady wins the race.
alpha0niner
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I'm in the same boat as you OP. Firstly I would recommend checking out Tim Sykes and Tim Grittani (better in my opinion) if you haven't already. The latter teaches micro cap (under $20) for Listed stocks as well as OTC. He makes an important point that OTC markets are cyclical with promotions not coming very frequently atm so the market has dried up. He transitioned to Listed but still volatile and high volume (at least for Retail Traders) and he is very profitable. So maybe look for brokers who don't allow OTC but allow Nasdaq listed stocks under $20 and say above $5.
I'm fortunate enough to have enough capital to open an interactive brokers account above the $25,000 PDT threshold so I will trade with them. Don't listen to this guy talking about 'scalping' commissions! You shouldn't be scalping anyway, you should be looking for the big plays. Again I highly suggest Tim Grittani.
Good Luck mate!
alpha0niner
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Oh and I forgot to mention don't use leverage! With these stocks which are highly volatile you don't need it! You should be looking to make 10% on your plays. I only use leverage in a separate account I have with Ayondo (not great broker) on listed stocks I hold for 1-3 month periods and even then it's 4x max. I won't be using any leverage in my IB account.
alpha0niner
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Yes, Centerpoint Securities. I trade with them. But you need to deposit $50000 in capital and maintain $30000 throughout your trading term. Their fees are quite high as I have found. But i'm willing to suffer that to see if I get any good. If not I will withdraw my funds and end my trading career.
alpha0niner
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There's no way of avoiding it. Minimum you would need is $25000 but I don't know a broker offering that to the U.K. I mentioned Centerpoint because they are the best for fills, locating shares to short and general service.
alpha0niner
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Wouldn't advise IB. They are terrible with customer service and don't have any good locates, especially for shorting.
alpha0niner
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But in answer to your question, yes they offer it
Hi alpha0niner,
Can you PM me pls when you get a mo, as I am interested - after researchng Tim Grittani - in trading NASDAQ and OTCs; and like yourself am based in the UK.
Thanks in advance.
I have been using IB for 2 years now and never had a problem (yet). My trades are 80% short biased and I have to say I'm yet to have a problem on borrows being available. Not really used their customer service a great deal but when I have has been fine.
If you are under the PDT rule then you have limited options being Suretrader or Tradezero that I know of. Both are based out of the Bahamas with Suretrader having high commission charges but I believe Tradezero has no/minimal fees if you use limit orders.
If you are under the PDT rule then you have limited options being Suretrader or Tradezero that I know of. Both are based out of the Bahamas with Suretrader having high commission charges but I believe Tradezero has no/minimal fees if you use limit orders.
alpha0niner
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Sorry i was away on holiday and had no service so did not see your message.I can't PM you as it says you have chosen not to accept private messaging... What can I do for you? You're interested in using the same platforms and trading styles that Tim uses
Alpha
Apologies Alpha, I've now amended my profile to allow private messaging.
Yes, I have studied Tim Grittani/Tim Sykes/Nathan Michaud etc., and was hoping to touch base with someone (ideally UK based, like myself), to bounce ideas off of with regard to brokers/platforms/forums/subscriptions/strategies etc.
Can you please try to PM me again, as would be interested in a face to face if poss, esp. if you're London based?
Cheers,
Propa
Hi Guys,
I am currently started to follow tim sykes & grittani. I am facing the same problem to find a decent broker to trade nasdaq and otc stocks as I am based in UK. If you have found one can you please share it with me. Much appreciated. Thanks
closecalls
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hi ive been following tim sykes/grattani etc for a while now. im also in a chatroom $9.99 /month called tricktrades which is full of good people all learning from two great teachers. anyway to answer the broker question... im currently using suretrader i have been for about a year now and ive had no issues whatsoever and they relatively cheap as long as u dont use margin on stocks below $3 and close your margin positions before 3.30pm est. them rules are all explained even though ive managed to forget them at cost. the other one is tradezero which pat the moderator from tricktrades uses and he swears by them ideal for short biased traders as well as theres always shorts available for all stocks. im currently moving over to them as they dont charge commissions for certain trades so whyll learning the "trade" with small account this will be ideal. hope this helps.
what are Sure Traders fees like?
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