I was curious about how cheap penny stock trading would be. I would like to invest around 100 dollars into some stock.. I would check on it about every 3 or 4 hours and would like to pay the cheapest I can for a broker. I wouldn’t mind paying like 30 – 50 percent of my profits, I just don’t like these .99 for unlimited transfers. I would like to buy around 4 or 5 different company stocks, and don’t want to pay 60 dollars for 10 stocks! Anyone have a good site that will hook me up with something like this?
Thanks!
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3 Comments on “Cheap Penny Stock Trading?”
Bennie 10th March 2010
wow, your going to lose a lot of money fast
Chris 10th March 2010
I use etrade and if i want to buy ALKN for example, its some penny stock trading at .05cents i could buy as many shares as i want for a commission of a flat $7.99, you dont want to give anybody 30% of your profits, with 100 dollars you can buy 2000 shares of ALKN, if it goes to $1, why do you want to give a broker 30%? that will be $600 of your gains. besides brokers dont work that way, they usually charge you a rip which is either a percent to buy and a percent to sell, or they use to charge a small amount per share, your best bet is to open a online account like etrade, ameritrade, or one of those to buy some penny stocks, because no broker will open a account for you for a few hundred dollars, UBS for example wont take a account under i beleive 20,000, but thats there asset managment division so im not too sure, but you best bet by far is a online broker.
Good luck and happy investing.
Mike 10th March 2010
First of all there is no such thing as penny stock investing. Second don’t bother if you are only planning on using $100. Wait until you are 21 and bring that money to the casino.