Penny Stocks . . . Which Online Broker Is Right For The Job?
Many online brokers are suited quite well for penny stocks, others, however, are horrible. The first and foremost feature to check is share limitations. With penny stocks you will be purchasing as many as a million shares or more at a time. A half a penny extra per share over say 1000 shares doesn’t sound like much, but a million shares will cost you an extra 5000 dollars, and that’s just to get in. Most brokers that offer no share limitations typically charge a tiny bit more per trade, but it is definitely worth the cost.
So my question for you is, which online broker has what I’m looking for?
TD Ameritrade has dropped their share limitations (i.e. no more commissions for larger share quantities). I’m not sure about others.
BTW, if you want a good stock tip, check out Tara Gold Resources (TRGD). Should be an easy multi-bagger within 6-12 months (possible 10-bagger within 2-3 years). If interested, check out the TRGD message boards at investorshub.com and stockhouse.ca
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