Which brokers is best for beginning short sellers?

Discussion in 'Retail Brokers' started by cashclay, Aug 23, 2022.

  1. cashclay

    cashclay

    I have paper traded for over 2 years now and feel that I am ready. I have checked other brokers and am abut conflicted on which one to choose
    I will open an account under 25k so the pdt rule will be in effect for me
    I’m looking for a broker with low commission and platform fees, fast executions, and has a good list of stocks to short
    Thank you any help would be greatly appreciated
     
  2. My advice, to you,.... is to go with Fidelity, because it's big. That's all you need to know. You don't want small. Size matters.

    I've used small, random, weird brokers before when I was once an amateur in 2009....you don't want that. You want a broker who is large and in charge.
    CashClay 2022,
     
    Last edited: Aug 23, 2022
    cashclay likes this.
  3. Robert Morse

    Robert Morse Sponsor

    We offer all that but we are not "free".
     
    murray t turtle likes this.

  4. There are thousands of introducing brokers (IB) which is who you will deal with on any given day-to-day basis and there are 60 Futures Commission merchants (FCMs) which is your bank and which you do not have any access. The number of FCMs is down from all time high of 214 back in 2002. Most of your operational costs for trading would come from your FCM, additional costs will be tacked on by your IB as part of the cost of doing business. The cost structure of IBs and any detailed and relative comparison of their performance does not exist.

    e
     
  5. SunTrader

    SunTrader

    OP is talkin' PDT rule so I'd assume not futures but stonks is their interest.
     
  6. tomkat22

    tomkat22

    I've heard Centerpoint is good if you do a lot of shorting. IBKR is okay I suppose unless it's a low float name then they're probably not gonna have locates. Been with them since 2010 and the now defunct Tradeking for 2 years before that.
     
  7. mikeriley

    mikeriley

    Sim mode for 2 years is impressive. I don't think I've
    ever met a trader that could last a month before getting
    the itch to trade live. You have exceptional discipline.

    Wish all the best to your trading success.
     
    DaveV and CALLumbus like this.
  8. SunTrader

    SunTrader

    Also an ET member for 7.

    At some point you gotta dip yer foot in the pool.

    "You can look at the menu, but you just can't eat
    You can feel the cushions, but you can't have a seat
    You can dip your foot in the pool, but you can't have a swim
    You can feel the punishment, but you can't commit the sin."

    ;)
     
    murray t turtle likes this.
  9. tomkat22

    tomkat22

    Kinda wish I started on SIM for 2 years. Would've saved me a few grand.
     
    Last edited: Aug 23, 2022
    murray t turtle likes this.

  10. More than you know - I did forward walk paper trading for six months and then compared the results to back testing for the previous six months in ninja - the results were not even close. back testing can be misleading and even corrupt.
     
    #10     Aug 23, 2022