Best online broker if you Short Sell a lot? Most of my trades involve short sales and I'm wondering if there is a big difference between the brokers in regards to borrowing shares and such. I'm really undecided which broker to move forward with but for the most part have narrowed it down to eTrade or TDA. Any thoughts or opinions would be a great help, I've searched all over Google and the subreddit but nothing really answered anything in regards to shorting.

Its always crazy to me that Interactive Brokers isn't the first response in every thread like this.

Is Short Selling Penny Stocks a Viable Strategy?

You will not find better availability, lower borrow fees, better commissions, lower margin interest, or better execution tools than Interactive Brokers. I've traded market neutral extremely high turnover for several years and used most popular brokerage platforms at some point along the way.

While they sound like the best solution in regards to price, I don't have enough to meet their initial deposit requirement yet. Perhaps it's something to look at down the road for me. Yeah they don't give a shit about little retail investors.

So don't expect any hand holding or help from them walking you through how things work. But by god the services they offer can't be beat. IB has far better availability for hard to short stocks than most other brokers, like SHAK when it went IPO, and UVXY in the last months. But if you don't meet their minimums, I'm not sure naked shorts are for you - you can lose a lot more than just your account net worth.

I'm not familiar with naked shorts, all I do is short sell stocks I watch regularly. Is this what you talking about? How's TDA with hard to borrow? Oh no, I'm referring to my broker being able to locate hard to borrow shares before completing my trade. Are you under 25? Do you know how to find the hard-to-borrow rates for IB? For example if I wanted to find the hard-to-borrow rate for TSLA how do I do that?

I googled "IB hard to borrow list" and it came back with this website that had availability and said 60k shares for TSLA, but not the hard to borrow rates. Or the simpler method is to log in to trader workstation and add the column for "fee rate".

But they're available well before market open and weeknights. Thanks for the help! I see that there's 60k shares available at a rate of 4. The fee is also charged on Saturday and Sundays correct? Also, I noticed that deposits by ACH are restricted to 1 deposit of 20k if not participated in the Secure Login System. You can "partial opt out" of SLS, which is what I do.

Then logging into the workstation is just username and pw, but logging in to account management requires the card.

Best Penny Stock Brokers for

I only log in to account management like once a month so I don't mind the extra security there. What about the charts? What do people normally do to get live stock quotes? Manage account, Trade configuration, market data, which one is the one i want to subscribe to to get real time quotes? Tim Sykes shorts a lot and he wrote his favorite brokers here. I'm not looking just for pennies, I'm really looking for the best all around option for a broker as well.

Well, I personally love TD and TOS. The commissions are bit pricey for small accounts, but they certainly offer a ton of features and customer support on all things, including a chatroom to help you learn their coding language.

Best Online Discount Brokers for Shorting Penny Stocks | Timothy Sykes

Any highly liquid stocks should have no problem short selling with a margin account. Yeah I really like the TOS platform but am still conflicted about which broker to use. My two options are TDA and etrade, and it seems a lot of people are evenly decided on which is better etc.

Any other insight on this would help. Your link seems to suggest eTrade since he never mentions TDA at all. Also sometimes with ib you get payed margin to short a stock. I had no problem with shorting DELL DBO and some big funds, but if I tried small or mid caps it wouldn't find short able equities.

I also found that sometimes IB would give me better pricing than my limit orders which sometimes I would watch in real time on TDs ToS app. It's kind of annoying jumping back and forth in the apps but worth the lower commissions IMO. Depends alot about what country you are from. Yeah, either eTrade or TDA are your best bets.

I use eTrade and don't have trouble finding the shares to borrow for most anything. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. By signing up, you agree to our Terms and that you have read our Privacy Policy and Content Policy.

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Thank you for mentioning it though, wasn't aware of them before! Thanks I'll review that! Posts are automatically archived after 6 months.