Does scottrade sell otc stocks
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Does any online brokerage allow you to short OTC stocks? Do any of the online brokerages allow you to short OTC stocks? I searched and did not find any information on this.
I love Ameritrade Apex, but they only allow you to - buy penny stocks at limit and - sell at limit and market. None of the main brokerage sites like scottrade, etrade etc mention if they allow shorting OTC stocks.
Quick Summary is created and edited by users like you Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.
Click to copy code and go to. Thanks for visiting FatWallet. Join for free to remove this ad. I imagine most brokers have the specifics in their fine print if you do some digging.
I don't think any major brokerage will allow shorting penny stocks - there is tremendous and unlimited risk if the stock suddenly jumped up and some penny stocks are very manipulated because of their low liquidity.
Pink Sheets & OTC Stocks | Scottrade
Since shorting a stock inherently requires margin that alone makes them unavailable for shorting by those brokers. You may want to check with IB InteractiveBrokers to see if their margin policies allow it.
The sec won't allow it. I was talking more about OTC stocks, Ameritrade does not allow shorting of OTC stocks.
Best OTC Brokers (BROKER) Message Board - InvestorsHub
I could not find any information on interactivebrokers website. Does anyone know of any Online trader that allows you short otc stocks? Hey I have an interesting question, maybe someone can shed light on it. If you short a stock and the company delists or goes into bankruptcy and shares are no longer traded, how the heck do you buy to cover? I'm not aware of any legal way to short pink sheet or Bulletin board stocks.
I think you can do it with an offshore account. You asked multiple questions. If a company delists from a national exchange it often continues to trade on the pink sheets. Being in bankruptcy doesn't prevent shares from trading.
If the security really no longer trades and is worthless contact your broker, most will be able to do a worthless security transaction to get it off your books for a fee. If it isn't completely worthless you might want to leave the short position on as you don't have to declare a taxable gain but you should have access to most of the gain from the short position depending on your broker's margin requirements.
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How to Invest in Penny Stocks (ADAT, ANAD) | Investopedia
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