[mage lang="" source="flickr"]best broker for penny stocks[/mage]
As an example, if you want to buy 3 shares of stock from Mac, + 10 shares of a “penny stock” what kind of fees
can the broker charge for this transaction?
Best and worst case scenario?
Ok 3 shares of Mac for $49.75 each , plus 4 penny stocks for .80 cents each because they are a new company waiting for a bank loan.
It depends on your brokerage firm and broker. The fees are set based on the transaction and not so much the amount purchased.
For such a small amount, the fees will be eating into your return.
Ex. if the fee is $40 for the transaction, and you buy $400 worth of Mac, then even if the stock goes up 10%, you’re only breaking even. if you buy $4000 worth of Mac (the fee will still be $40), then you’ll break even at a 4% return.
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