If I have $200, can I trade penny stocks on the computer?
I’d like to do a little stock trading for the educational opportunity, and for the chance of making a bit of money. However, I don’t have much in disposable income. Is there anything I can do online with just $200 bucks?
Yes, You will have to find an online brokerage that has no minimum initial deposit.
Also don’t wire the money, transfer it electronically or send a check. (It usually costs $25 to wire funds from your bank, the other two ways are free.)
Then you will be charged a commission fee, it’s not based on per share it just a flat rate per trade (unless you’re trading option contracts.)
Usually it costs somewhere between $6-$14 per trade.
You could buy 2 shares of a $80 stock if you wanted to, but you still get charged the same commission fee.
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