Buying Penny Stocks Online
When you’re buying penny stocks online it’s not much different than when you buy stock that are valued much higher. A stock is considered a penny stock when it value is less than $5. Most of them are not traded on the Dow or the Nasdaq, although some may be listed on those exchanges, but typically you will find them on the OTCBB ( over the counter bulletin board.
Like I said there are many that are listed on the big board, most of them are alternative energy companies that are trying to hit it big. When you want to buy penny stocks online there are many places that you can go.
The one that I like the most is TD Ameritrade, a online broker that I’ve used for some time now. Their customer service is beyond great, which is to me the most important part of choosing a online broker. Since I’ve used them for so long and so much for my trades, I now pay only $7 a trade no matter how many share I decide to puchase.
Zecco is another company that is out there to use. They offer you 10 free trades per month with a $2500 minimum equity balance, after that it’s $4.50 per trade. their customer service is not as good as Ameritrade, but they do have a community board where you can talk to other traders for ideas (rule #1- there’s no such thing as a good stock tip).
Another company that I’ve not used is Scottrade. They charge $7 per trade, but they do have a lot of other fees that are listed on their site for other services that they provide. I never used them because of that reason. I feel that if you are there to provide a service of trading stocks, then that is where that only charge should be.
If you look on the internet for an online broker, you will find that there are many more, but do your research on these companies before using any of them.
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There is obviously a lot to know about this. I think you made some good points in Features also.