How do you purchase penny stocks without a commission charge and/or large deposit?

Question

I know penny stocks are risky but i am actually looking for a list of brokerage companies that have a small or no commission charge and a small deposit.

Answer 1

You can not.

Brokerage firms are in business, like any other company, to make money,  One means brokerage firms have to make money is to charge a commission for letting the general public trade securities.

There are cost involved in the buying and selling of securities, brokerage firms need to charge commissions to cover the cost of clearing the buying and selling transactions.

It brokerage firms to open, maintain and insure accounts, therefore they do need a deposit to open accounts.

Penny stocks are costly to clear, and are not very profitable for brokerage firms, therefore the commission is higher on low priced stocks.

If you're going to play in the penny market, you have to pay to do so

Answer 2

Your question prompts me to warn you;

Penny Stocks should only be traded by experianced traders. After 5-10 years of trading large, mid, small cap stocks & good money management skills...... only then should you consider penny stocks.

To answer your question:

You need to pay for the service you're getting..... buying and selling stock.

Answer 3

Hi rpg,

You are going to have to pay somebody something. Everybody is in business to make money. What you can do is to minimize the fees that you pay out for the purchase of the stock that you want.

I joined scottrade- $500 minimum account fee. no minimum trades per month, $7 per trade, attachable to your bank account for immediate (free) trade account transfers. Free help online or by phone. You can buy from any market, foreign or domestic-including pink sheets- with minimal charges.   Good Luck!