Choosing the right penny stock broker can help make or break your successes and your profits. You want to watch out for certain red flags that are a sign of a questionable broker all while considering some of the basics like required minimum account balance. In this equation there are three specific things you should research before you commit to a broker. Understanding these three things and why they are important will help you increase your profits in this fast-paced niche of stock trading. Continue reading
Whenever we learn about something new it’s important to start with the basics. This is especially vital when you are learning about something that will impact your financial decisions. Stock trading for dummies provides a quick overview of the world of stock trading, including some of the different investment options and the services you use to facilitate these investments.
The basics discussed here include the nature of the stock market, mutual funds, index funds, brokerages, online brokers and online stock trading. Understanding these basics will help you navigate the world of stock trading and help you find the right type of investments for your personality, your expertise and your budget. Continue reading
Before you even think about starting to buy penny stocks online, you need to understand what penny stocks are and you need to understand the potential risks involved in trading these off-exchange stocks. Buying penny stocks online can be a lucrative business if you know what you are doing and you understand this specific market, but it isn’t necessarily an easy way to make money fast.
There is a learning curve and a skill to buying and selling penny stocks to increase your income. Among the things you will want to learn is how to calculate the market cap of these investments. Learning how to compute the market cap of a stock can help you determine the dollar shares of all of the shares within the company at a given point in time.
Penny stocks are listed on the OTC market, not on the securities market like many other stocks. Besides learning how to find and monitor them you’ll need to look for a broker to help you facilitate trades if you want to start buying penny stocks. There are a few different types of online brokers from full service to discount and everything in between. When researching online stock brokers you’ll want to evaluate a few different brokers considering their fee structure, services provided and minimum account balances. Continue reading
If you are just getting started in the business of penny stock trading you’ll need to know where to buy penny stocks. But before you even ask this question it is important to understand more about this specific market and these stocks to see if this is something you really want to consider.
There is a simple and a not so simple answer to the question of where to buy penny stocks. There are a number of brokers who can help you buy and sell penny stocks, but to get the most out of your time and money you want to choose the right brokerage company. Each of the online stock brokers offers different services, has a different minimum balance and charges different fees for each trade. You may initially want to go with the cheapest broker but this isn’t always the best way to go, at least in the beginning.
Besides choosing a broker you need to know where to go to find and research these stocks so you can monitor them and determine which ones to buy. Continue reading
One of the important aspects of any type of online stock trading involves finding the best online stock broker for your needs. Keep in mind you may not want to use the same brokerage account for long term investments and penny stock trading because they are two very different types of investments. Choosing the right broker can help you save money and maybe even make more money.
There are full service brokers, discount brokers and a little of everything in between. As the name suggests full service brokers provide more tools and services, but these tools and services usually come with higher account fees or trading costs. Discount brokers are cheaper in terms of fees but they don’t offer much in the way of help. There are also options in between, that offer a few services without high fees. It is important to evaluate everything from fees, minimum balances and services provided as they all add up to create a good or not so good overall trading experience.
This guide will discuss ten of the top online brokers from big names, like Charles Schwab and Fidelity to lesser known players like MB Trading and Scottrade, offering a summary of the services provided, account fees, account minimums and trade fees. Continue reading