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  • FIRST POST
    • Nr1991
    • By Nr1991 27th Feb 17, 11:20 PM
    • 1Posts
    • 0Thanks
    Nr1991
    Day trading penny stocks from UK
    • #1
    • 27th Feb 17, 11:20 PM
    Day trading penny stocks from UK 27th Feb 17 at 11:20 PM
    Sorry if this has been posted before. I am looking for an online broker to day trade International penny stocks. I have looked at Hargreaves Landsdown, they seem pretty good for AIM companies but not a lot for overseas.
    I have looked at the popular US ones but most you have to be a US citizen, or pay $200+pm for your account.
    Obviously I would like one with low cost on account opening/ transaction fee and little or no fee for currency conversion.

    Any info appreciated
    Thanks
Page 1
    • AnotherJoe
    • By AnotherJoe 27th Feb 17, 11:26 PM
    • 7,594 Posts
    • 8,194 Thanks
    AnotherJoe
    • #2
    • 27th Feb 17, 11:26 PM
    • #2
    • 27th Feb 17, 11:26 PM
    The best place for you to lose your money on this ridiculous scheme would likely be TD Direct as once you've transferred your money from £ to $ you can keep it in $ as you buy and sell $ based stocks.

    That way your money will last a few weeks longer before it's all gone.
    • le loup
    • By le loup 28th Feb 17, 9:16 AM
    • 3,636 Posts
    • 3,563 Thanks
    le loup
    • #3
    • 28th Feb 17, 9:16 AM
    • #3
    • 28th Feb 17, 9:16 AM
    to day trade International penny stocks.
    Originally posted by Nr1991
    That sounds really interesting. Will you let us know when you have made your first million so that we can all join in?
    • robber2
    • By robber2 28th Feb 17, 10:06 AM
    • 276 Posts
    • 222 Thanks
    robber2
    • #4
    • 28th Feb 17, 10:06 AM
    • #4
    • 28th Feb 17, 10:06 AM
    Given the wide bid /offer spread often associated with penny stocks any plan to day trade them is way beyond silly coming as it does with the absolute certainty that your money will be gone in no time.

    Good luck
    • Zola.
    • By Zola. 28th Feb 17, 10:26 AM
    • 1,107 Posts
    • 429 Thanks
    Zola.
    • #5
    • 28th Feb 17, 10:26 AM
    • #5
    • 28th Feb 17, 10:26 AM
    • jimjames
    • By jimjames 28th Feb 17, 1:05 PM
    • 12,185 Posts
    • 10,703 Thanks
    jimjames
    • #6
    • 28th Feb 17, 1:05 PM
    • #6
    • 28th Feb 17, 1:05 PM
    That sounds really interesting. Will you let us know when you have made your first million so that we can all join in?
    Originally posted by le loup
    How to become a millionaire trading penny shares? Start with £2million....
    Remember the saying: if it looks too good to be true it almost certainly is.
    • mollycat
    • By mollycat 28th Feb 17, 1:09 PM
    • 950 Posts
    • 1,911 Thanks
    mollycat
    • #7
    • 28th Feb 17, 1:09 PM
    • #7
    • 28th Feb 17, 1:09 PM
    How to become a millionaire trading penny shares? Start with £2million....
    Originally posted by jimjames
    Boom Boom!

    I know the old one's are the best, but that joke's got cobwebs on it!
    • Pincher
    • By Pincher 28th Feb 17, 2:27 PM
    • 6,516 Posts
    • 2,491 Thanks
    Pincher
    • #8
    • 28th Feb 17, 2:27 PM
    • #8
    • 28th Feb 17, 2:27 PM
    I think you need to file some kind of Mergers and Acquisition Notice, if you go over some percentage of ownership. It would be funny if you bought a thousand pounds worth, and you get fined for not filing.
    Last edited by Pincher; 28-02-2017 at 2:41 PM.
    • EdGasket
    • By EdGasket 28th Feb 17, 4:37 PM
    • 3,456 Posts
    • 1,446 Thanks
    EdGasket
    • #9
    • 28th Feb 17, 4:37 PM
    • #9
    • 28th Feb 17, 4:37 PM
    Have a watch of 'Boiler Room' and 'Wolf of Wall Street'; they will give you some sound insights to the world of penny stocks.
    • caveman38
    • By caveman38 28th Feb 17, 5:54 PM
    • 879 Posts
    • 285 Thanks
    caveman38
    Beware of Bulletin Boards and rampers.
    • sorcerer
    • By sorcerer 1st Mar 17, 12:30 PM
    • 814 Posts
    • 390 Thanks
    sorcerer
    I think you need to file some kind of Mergers and Acquisition Notice, if you go over some percentage of ownership. It would be funny if you bought a thousand pounds worth, and you get fined for not filing.
    Originally posted by Pincher

    Didn't this happen to some old lady who owned a hotel, her son, bought a small company, ended up owning a large portion of it, then she was forced to buy the rest of the shares from the other shareholders.
    • sorcerer
    • By sorcerer 1st Mar 17, 12:34 PM
    • 814 Posts
    • 390 Thanks
    sorcerer
    Sorry if this has been posted before. I am looking for an online broker to day trade International penny stocks. I have looked at Hargreaves Landsdown, they seem pretty good for AIM companies but not a lot for overseas.
    I have looked at the popular US ones but most you have to be a US citizen, or pay $200+pm for your account.
    Obviously I would like one with low cost on account opening/ transaction fee and little or no fee for currency conversion.

    Any info appreciated
    Thanks
    Originally posted by Nr1991

    Most day traders have many millions (if not billions) to start with, and a big company behind them and a team of data analysts and big computer systems. It will also help if you have a direct line straight to the stock exchange to trade, so that you can trade quickly (in the milliseconds).
    • Glen Clark
    • By Glen Clark 29th Aug 17, 12:49 PM
    • 3,892 Posts
    • 2,896 Thanks
    Glen Clark
    This is like the lottery.
    For every £1million won, £2 million is lost.
    But we only hear about the winners, not the losers.
    “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair
    • aroominyork
    • By aroominyork 29th Aug 17, 12:55 PM
    • 278 Posts
    • 62 Thanks
    aroominyork
    I am looking for an online broker to day trade International penny stocks.
    Originally posted by Nr1991
    Are you restricted to pennies or can you also trade in cents? And to trade in cents must you start out with sense?
    • Bravepants
    • By Bravepants 29th Aug 17, 1:27 PM
    • 272 Posts
    • 318 Thanks
    Bravepants
    Rather than penny stocks, try this website for a quicker way to lose your money...

    http://www.888.com/
    • le loup
    • By le loup 29th Aug 17, 1:46 PM
    • 3,636 Posts
    • 3,563 Thanks
    le loup
    By the way I started a blog about penny stocks (top 5 movers 2017, tips, strategies, risk tolerance, etc.). I hope that might be of interest to you
    Originally posted by Serje
    ................ and what exactly makes you an authority in these matters?
    • jimjames
    • By jimjames 29th Aug 17, 2:02 PM
    • 12,185 Posts
    • 10,703 Thanks
    jimjames
    I hope that might be of interest to you
    Originally posted by Serje
    Not really, it probably is just a way to ramp certain shares
    Remember the saying: if it looks too good to be true it almost certainly is.
    • Serje
    • By Serje 7th Sep 17, 7:40 PM
    • 2 Posts
    • 1 Thanks
    Serje
    Not really, it probably is just a way to ramp certain shares
    Originally posted by jimjames
    Not really, its just the watchlist 2017 I've come up with and nothing more.
    • verybigchris
    • By verybigchris 4th Oct 17, 7:58 AM
    • 381 Posts
    • 486 Thanks
    verybigchris
    You did well if you got early Microsoft stock for a penny each, given that it's original offer price was $21 per share.

    (Although, of course, it couldn't matter less. The whole notion of treating "cheap" shares as being somehow different to "expensive" shares is nonsense and shows a fundamental lack of understanding of what share prices indicate)
    • levdon01
    • By levdon01 5th Oct 17, 10:18 PM
    • 7 Posts
    • 1 Thanks
    levdon01
    Day-trading penny stocks is one of the best ways to lose money. This strategy seems to attract gamblers which are merely 'taking punts'. When I was new to buying shares I was drawn to penny shares as it seems a good way to make a quick fortune but I have found buying and holding bluechips (although very boring) is actually more profitable.

    I would urge you to read my book. Afterwards I do not think you will touch penny shares again
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