How to buy penny stock without a broker

Get Instant Penny Stock Picks from the Authority! Getting a trading account set up is as simple as opening a bank account. For most online discount brokers, you can do the whole process over the Internet. I strongly recommend using a discount broker, especially for penny stocks.

Usually you can open an online trading account, which is certainly the best way to go to monitor and view all your trades, history of transactions, and to get quotes and information on the penny stocks that interest you.

These deal one on one with the client, and are usually better suited for traders with very large portfolios. You will have access to a full service broker's advice, and they will come to you with investment ideas.

They are generally afraid of penny stocks and discourage their clients from investing in such equities.

First you need to decide on your own requirements from your broker. There are many choices out there competing for you as a client, so be choosy and make sure to get the best one for your own needs. Perhaps you are not starting with a large amount of money, and therefore high commissions will be too expensive. Will you be involved with foreign stocks, and do the brokers you have in mind have strict policies for foreign trading?

Will you be trading bonds? Do you have an existing broker you are happy with? Do they allow penny stock trades? Will you only be able to trade by phone?

We feel the best approach is to have one good broker, not three or four. If you currently have several brokerage accounts, consider transferring all of your assets to the one broker who works best for you overall. I have found that this is the most important consideration for most penny stock traders, due to the higher trade trusted forex broker in philippines, and the lower total dollar amounts, which makes brokerage fees very significant.

However, I also feel that this should not be the primary consideration, assuming that the brokers you like have competitive rates. Despite what advertisements may lead you to believe, the speeds of most brokers are approximately the same.

While penny stocks can be volatile, they will usually sit within each price range more than long enough for you to enter and exit at the prices you decide. It will more likely be your own hesitation or the time it takes you to make your trading decisions that will affect your trading prices. This can be very important. Brokers do make mistakes, and their web sites go down, and even their computerized trading programs can foul up. There is nothing worse than going to make a time-sensitive trade and being unable to access the web site.

When it comes to fast-moving penny stocks, this could be very costly. This is the most important consideration for penny stock investors in my opinion. Policies include things like the minimum required balance how much money earned by ek tha tiger anycommissions on penny stocks and foreign stocks icici online stock trading to regular fees, monthly fees, and the ability or inability to trade shares from the penny stock markets.

If a trade does go wrong, or even if you just have comparison of online brokers wiki quick question, you need to be able to get through to your broker without sitting on hold all day long. You also want to feel how to buy penny stock without a broker your questions and concerns get answered, regardless of whether it is by e-mail, expiration date option trading, or otherwise.

On a similar note, when you do get through, are their replies professional and courteous?

Buy Stock Directly Without A Broker - Invest In One Share of Stock - Dollar-Cost Averaging With DRIPs

More importantly, are they timely and correct? This should be a secondary consideration. There are so many free sources for data and information that you may not ever use the 'bell and whistle' features that your broker provides. Lowtrades has made some much needed improvements to their website. They have an excellent investing overview section and offer free real time streaming quotes.

Best Brokers for Penny Stock Trading - NerdWallet

Their customer service reps are also very knowledgeable and friendly. There is no minimum opening balance for an individual cash account.

Penny stocks are not treated any differently than any other stock. Trading Direct is another great company that offers competitive prices. Trading Direct allows for trades in penny stocks, including OTC-BB and Pink Sheets. A small brokerage firm with lower over-head and commissions, Scottrade has a beefed up website with a long list of products and services, including free real time streaming news from Dow Jones and free unlimited real time streaming quotes and charts.

If conducting trades is your main priority - then Scottrade is a good choice.

Scottrade will trade penny stocks, but they are conducted under different rules. For Pink Sheet and stocks traded in Canada you need to speak with a broker they cannot be conducted on-line.

Boasting the most on-line trades in the industry Ameritrade has an informative website with a vast array of trading tools and services. Ameritrade allows for trades in penny stocks and the on-line commissions are the same as non penny stocks: If at any time you trade more than shares on the NYSE, you will be levied with a 1 cent per share charge Peter Leeds Penny Stocks Facebook.

All About Penny Stocks Understanding Penny Stocks by Peter Leeds Get Instant Penny Stock Picks from the Authority!