Broker for buying OTC shares in the US? - Aussie Stock Forums

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  1. #1

    Default Broker for buying OTC shares in the US?

    Hi all. I'm new to trading but please spare me your ego. I want to trade Smart metric shares (SMME) online but for one don't know where to do it.
    It's a USA penny stock I've been watching and want to put down between $100-$1000aud on it.
    Can anyone offer advice as to which broker would be good and allow me to trade from here in Australia. Lower Comms are much more what I'm looking for.

    Any ideas?

  2. #2

    Default Re: Broker for buying OTC shares in the US?

    Thanks who ever moved my post. Didn't know you call it otc stocks. I saw people saying interactive brokers. Hmm well I don't have enough cash to make a minimum deposit. Does anyone know low deposit brokers?

  3. #3

    Default Re: Broker for buying OTC shares in the US?

    In short, there is no good way.

    If you're living in Aus, all the brokers that get you access to the US charge you on a cents per share model (except the Big4 banks, where they charge u something ridic like $250 min, plus they dont offer access to OTC, or even anything outside of the S&P500)

    So 1-2c per share on a penny stock trading at 14c is a pretty crappy deal.

    Retail brokers in the US however, are usually capped at $10 per trade which makes playing pennies much easier. Though setting one up from Aus is all but impossible
    I believe effort to be a finite resource. Something to be used only when there are no other options available.

  4. #4

    Default Re: Broker for buying OTC shares in the US?

    Well that's just balls isn't it. I would like to try start trading small amounts between $100-$500. Like I've been following SMME for a year or so, and I would have tripled my investment if I had one.
    So what would be a good place to start to trade small amounts with small share priced stock (so the increase and decrease impacts my small investment more)


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