What broker allows for the shorting of bulletin board stocks?
How to short Bulletin Board Stocks?
- Thread starter seasideheights
- Start date
Ameritrade does....I'm not sure how much $$$ is required. They started in '05.
Received this from them in September:
New site feature: More ways to trade small-cap stocks
It's now possible to short sell stocks under $5 on our Web site. Another change coming soon will deliver quotes for pink sheet securities on the site, providing you with access to more information when and where you need it.
When trading OTCBB and pink sheet securities, please understand that they can be very volatile and are frequent targets of fraud and manipulation. When trading them, it's important to understand that you may lose your entire investment.² In addition, the risk of loss on a short sale is potentially unlimited (since there is no limit to the price increase of a security). Because there's no guarantee that a brokerage firm can continue to maintain a short position for an unlimited time period, your position may be closed out by the firm without regard to your profit or loss. You may only short sell securities in a margin account. Margin trading increases risk of loss and includes the possibility of a forced sale if account equity drops below required levels. Margin is not available in all account types.³
New site feature: More ways to trade small-cap stocks
It's now possible to short sell stocks under $5 on our Web site. Another change coming soon will deliver quotes for pink sheet securities on the site, providing you with access to more information when and where you need it.
When trading OTCBB and pink sheet securities, please understand that they can be very volatile and are frequent targets of fraud and manipulation. When trading them, it's important to understand that you may lose your entire investment.² In addition, the risk of loss on a short sale is potentially unlimited (since there is no limit to the price increase of a security). Because there's no guarantee that a brokerage firm can continue to maintain a short position for an unlimited time period, your position may be closed out by the firm without regard to your profit or loss. You may only short sell securities in a margin account. Margin trading increases risk of loss and includes the possibility of a forced sale if account equity drops below required levels. Margin is not available in all account types.³
I think it is still illegal for US citizens to short OTCBB's. Canadians can, so call up that Canadian relative and have them open up an account for you.
Ha, yes, most of the OTC BB manipulative trading scams are run out of and via brokerages in Vancouver...they are always getting busted. I bet the SEC has a lot of frequent flyer miles from coming up here so often...
www.stockwatch.com ususally has reports like this on their front page.
Now I see these!! LOL
C:*SEC - SEC revokes company with bogus billing touts
[2006-02-06 14:11 ET]
The SEC has revoked Intercallnet Inc., once a provider of voice mail to Vancouver's down and outers. Three months ago the SEC fined and banned two Florida touts who allegedly billed the company for $1.16-million (U.S.) for bogus products and services. more...
C:*SEC - SEC bans First United's Gremmo
[2006-02-03 14:28 ET]
The SEC has banned John Gremmo, head trader at defunct New York brokerage First United Equities. Prosecutors charged Mr. Gremmo with fraud for a pump-and-dump that included Vancouver brokerage Pacific International as an unwitting money laundering conduit. more...
www.stockwatch.com ususally has reports like this on their front page.
Now I see these!! LOL
C:*SEC - SEC revokes company with bogus billing touts
[2006-02-06 14:11 ET]
The SEC has revoked Intercallnet Inc., once a provider of voice mail to Vancouver's down and outers. Three months ago the SEC fined and banned two Florida touts who allegedly billed the company for $1.16-million (U.S.) for bogus products and services. more...
C:*SEC - SEC bans First United's Gremmo
[2006-02-03 14:28 ET]
The SEC has banned John Gremmo, head trader at defunct New York brokerage First United Equities. Prosecutors charged Mr. Gremmo with fraud for a pump-and-dump that included Vancouver brokerage Pacific International as an unwitting money laundering conduit. more...