[mage lang="" source="flickr"]chinese penny stocks[/mage]
Can you buy penny stocks on Scottrade (for my scottrade users out there)?
Hi guys. I was a little confused about buying penny stocks (any stocks under $5 I think) through scottrade. I heard that a) they won’t let you do it b) if they do, they charge 1/2% fee for each trade (and how does that work? give any examples using stocks?) c) Does scottrade charge you if you buy lets say, shares of some foreign (chinese) company? Thank you guys for the answers, and I would really appreciate if you could add as much details as possible to help me with my little dilemma ^_^
a: they do let you buy otc stock …if there has been over a 50% gain or loss in the past 72hours though they often restrict the stock and you have to call in to have the order placed. It is no additional charge to have the order placed by phone in situations like this
b: 7 for the trade plus .005% fee of stock less than $2… example Buy 30000 shares of AMNE @ $.0015 per share … cost $45 the standard fee is $7 and the additional fee would be $,23. Total cost of the trade $52.23
c: I have not bought foreign stock and could not find this anywhere
AQYD1099 is also a promo code that will get you 3 free trades.
My Penny Stock Egghead Review (w/ instant access)