Best online broker for Penny Stocks…?
I’m currently a sophomore in college and want to start investing in the stock market..nothing too serious just $200-$300 dollars to mess around with and invest in penny stocks..what would be my best option? I did a little reseach and was thinking Scottrade? Thanks for any help.
All major brokerage firms will accept orders from the clients to trade in penny stocks, BUT most firms do everything they can to discoureage their clients from trading in pennies.
From a brokerage firms standpoint, penny stocks are expensive to trade, clear and maintain. Most of the firms that let customer trade easily in the penny stock market have problems not only in clearing the stock since most are not in a CNS system, but also with the clients who trade them since most are newbies and have no idea of what they are doing.
To answer your question directly – any major firm will permit you to trade in penny stocks,
Most firms will not let you open an account with only $200-$300
Scottrade is a good very reputable firm for most newbies.
Here’s some websites you can visit to learn more about low priced stocks
Best Online Stock Brokers Cheap Trades and Mutual Funds