| So many people that want to get into Penny Trading | | | | They are not treated any differently than other |
| have absolutely no idea as to how to pick a Good | | | | stock. If you deposit $2,500 or more then trading is |
| Penny Stock Broker. After you have made the | | | | free. Their speed of execution is also outstanding. |
| decision to invest in this Market, this is the next | | | | 2. Lowtrades- I like their free real time streaming |
| important step that you have to take before you | | | | quotes. Each online trade is just $5. There is no |
| can even submit that first trade. Given the nature of | | | | minimum opening balance. Penny Stocks are not |
| trading on speculation, it is obviously critical to choose | | | | treated any differently than other stock. I have been |
| the right broker that has the best service with the | | | | told that their speed of execution is also good. |
| lowest per trade fees. | | | | 3. Trading Direct-- Here is another Broker that offers |
| Why get into this type of investing in the first place? | | | | competitive rates. Each online trade is $9.95. There |
| Well for me and thousands of other folks, it is so | | | | are no minimum opening balances. They are not |
| appealing because of the simple fact that unlike the | | | | treated any differently than other stock.. If you want |
| bigger stocks that make their gains by a mere 5% to | | | | to trade shares in a Canadian Company that |
| 20% a year if you're lucky; that Hot Penny Tip can | | | | company will have to have dual listing on any of the |
| give you gains of 100% to 1000%. But, don't get too | | | | American Exchanges to use their services. |
| excited yet, because 97% of the people that trade | | | | 4. Scott Trade--if conducting trades is your main |
| on speculation fail. So, if you want to make money | | | | business, then you might have found a good partner |
| by investing in Penny Stock, choosing a the right | | | | in Scott Trade. But they are not registered to |
| place to trade at the lowest cost will not only affect | | | | Conduct Business in Canada. Online Trades are $7 for |
| your profits, but can make or break you when it | | | | shares over a $1.00. But here's why I stay away |
| comes to timely buying in selling transactions. | | | | from them--trades under a $1.00 will cost you $12 |
| Before we go any further, please sign up with the | | | | plus a 0.5% of the principle amount. For Pink Sheet |
| right broker now, right after you read this article. | | | | and stocks traded in Canada you need to speak to a |
| Why? Because unlike so many things in our instant | | | | broker because they can not be traded online. You'll |
| gratification society, depositing funds into your first | | | | have to pay $22 per trade, plus that .5% of the |
| Penny Stock Brokerage account can sometimes take | | | | principle amount. |
| up to 5 business days before you can make your | | | | 5. Ameritrade--a solid online broker that has a vast |
| first trade. So don't get caught sitting on a Hot Pick | | | | array of trading tools. You need a minimum of $500 |
| without a way to purchase and sell those shares! I | | | | to open an account. If you deposit $1000 though, |
| did just that and I lost $273 dollars because of an | | | | you get 25 commission free online trades (that's |
| intended trade I was going to make. | | | | limited though to the first 5 weeks.) Online trades are |
| Because the definition Penny Stocks is- Options that | | | | $10.99. Penny Stocks are traded like any other stock. |
| trade under $5.00 I strongly recommend an Online | | | | 6. E Trade- e trade does have some extra fees that |
| Discount Broker. Some people start out with $50 | | | | others don't. There's a minimum $1000 deposit to |
| capital and others start out with $1,000's. But think | | | | open an account. There are also inactivity fees that |
| about it, if you are buying and selling stocks that are | | | | you should check into. All market trades are $19.99 |
| sometimes only .30 cents a share, why would you | | | | with an additional $3 service fee. Then on the 27th |
| pay $25 or more to conduct just one transaction? | | | | trade done in any quarter, the fee goes down to |
| Here's a list of Discount Brokers and their Fees. You | | | | $9.99. |
| should investigate Each thoroughly because there are | | | | These are the current fees and policies as of this |
| advantages to each one. Because we are limited on | | | | writing. |
| space I will just show the Discount Brokers by Fees | | | | As with anything, you should always practice due |
| and list a few features for each. | | | | diligence, but get that Broker Account opened now. |
| 1. Zecco- This is my personal favorite because they | | | | Especially if you have signed up for a Penny Stock |
| are so easy to use. Plus, they only charge $4.95 per | | | | Newsletter or Advisor. Because when that hot tip |
| online trade. There is no minimum opening balance. | | | | comes in, you will need to execute it right away! |