Okay, you’re looking for a penny stock broker that can buy and sell penny stocks for you online. I am making that assumption as to why you came here. Let’s look at a couple of things before I give you a list of such brokers – which I will do.
WATCH OUT WHEN PICKING BROKERS!
Watch out for fees with any broker that allows you to trade penny stocks. I am going to generalize here, but it’s necessary to get this point across. Remember, I spent several years as a broker for a small firm and for Merrill Lynch. All of that was in the 1990’s. I have dealt with many brokers, big and small, over the past 15 years as a client.
ARE YOU AN “ELEPHANT” OR AN “ANT”
Brokers size you up when you call to set up an account.
They ask themselves, “is this an elephant or an ant?”
The elephant is the person that can bring so much more to the table than this one stock they want to buy or deposit into an account. The ant (and they have other names other than ant that are even less complimentary) is someone they want to make money off of or simply run off. They want to overcharge you to deposit or to buy, and then charge you fees for simply having an account that has a penny stock in it. These fees are usually published. They are not charging fees that are suggested to apply to everyone evenly. However, they don’t apply the fees evenly. Likely elephants have many fees “waived.” They don’t want to do all of the work setting up an account only to have it generate a tiny commission without any real money into the firm.
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