StockFetcher Forums · General Discussion · Best Broker for Shorting<< >>Post Follow-up
abbabb1tt
18 posts
msg #42261
Ignore abbabb1tt
3/20/2006 4:50:21 PM

Any suggestions on the best broker for filling short orders? Specifically I am looking at NASDAQ stocks right now. Any help is greatly appreciated. Thanks!

I just don't want my orders to go unfilled when I short. I would prefer to hear from those who have experience shorting, rather than 'a friend of a friend told me'. Thanks again!


stocktrader
293 posts
msg #42276
Ignore stocktrader
3/20/2006 10:59:12 PM

I do about 1000 trades a year and shorting is frequent for me.
With Scottrade I seem to get about 90% of whatever I want, providing it is above $5 in price.


abbabb1tt
18 posts
msg #42277
Ignore abbabb1tt
3/20/2006 11:01:45 PM

Thanks for the tip on ScottTrade. Anyone else have any experiences with IB or any other? Please let me know. Thanks!


abbabb1tt
18 posts
msg #42278
Ignore abbabb1tt
3/20/2006 11:12:46 PM

Why do you have to short stocks above $5? I can't find any info on this on scottrade.com. Thanks....


abbabb1tt
18 posts
msg #42279
Ignore abbabb1tt
3/20/2006 11:20:47 PM

Never mind. Found it in their margin agreement. They don't allow you to short stocks under $5. Gotcha. Thanks again!

Anyone have any other info on shorting with other brokers? IB or MB Trading? Anyone? Anyone? Bueller? Bueller?


Way2Late
37 posts
msg #42309
Ignore Way2Late
3/21/2006 8:45:37 PM

I trade with IB, my system last year only looked for stocks above $20 and below $70, did 150+ shorts probably had less than 10 that I couldn't short through IB. Usually things like BOOM, ANTP, TASR, TZOO, and other highly volatile, highly shorted stocks were ones that I couldn't short.

The system is automatic, just enter the order, if they have shares and it can be shorted it will place the order, otherwise it tells you that you can't short it.

One other thing about IB, they won't let you short within a few days of a dividend, I think it's 7 and if you're holding the position, I believe they will close it out automatically 3 or 4 days before the dividend date. This info is on their website so if you short and hold dividend paying stocks this might matter to you.


StockFetcher Forums · General Discussion · Best Broker for Shorting<< >>Post Follow-up

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