For me, Robinhood, Webull, and TD Ameritrade worked really well in the past. I got to make some nice returns with them. Along with the stocks, I am also with Fxview for my forex day trades. Hardly someone would say no to tight spreads and low commissions in the industry from a regulated broker. Try CMC Markets too for the stocks you want to invest in.
Can't Find A Broker To Trade US OTCs From UK
- Thread starter Konevo
- Start date
these brokers offer doesn't direct market access to otc markets, they first send orders to market makers like NITE and execution is very slow.
And in addition, IB has a max order size of 500k shares, which is only $50-100 for the very low priced stocks so it’s a pain to trade. Plus, they won’t allow all but the highest tier of OTCs and many of the rest with any “flags” (shell Corp, no financial info, etc) are all close-only.
you’d definitely do better to use a regular retail broker instead for most OTC trading.
Interactive brokers impose restrictive price caps, so is impossible trade most microcaps stocks with ib. You cant buy or sell a stock if price is more than 3% away last price
I usually stick to foreign ordinary Microcaps on OTC if i do trade them so spread isn't as bad since there's always Arb between the OTC symbol and the home exchange to keep the spreads tight.
Yes, try previewing a big order for FTEG or CBDL for example in TWS and you’ll see it won’t accept it.
yes, IB’s commissions (and bundled clearing charges) for otc penny stocks are significantly higher than many retail brokers who charge a fixed price per trade.
It's an "over the counter" market, that's what OTC stands for. What "market", exactly, are you looking for "market access" to?
A good article, I think, for many it became clear what a stock broker is and how it cannot.