Is there a site that you can trade penny stocks without the extra penny per share charges?

Question

I saw on tradeking that it costs .01 per share to own a penny stock. the stock would have to quadruple to really make money on this. I have heard of people makingtons of money on penny stocks. is there a good website to go to make money on these penny stocks that has low fees??

Answer 1

There are no good websites that will help you make money in penny stocks, since no reputable broker would suggest that you even try.

Most major brokerage firms do not promote the trading in penny stocks by their clients, and many take steps to discourage such trading.

For every story you hear about a person making money in penny stocks, there are dozens of other that loose money

When you invest/trade in penny stock you should never put up more than you can afford to loose and you should assume you will loose it all. Unlike regular securities, penny stocks usually do not let you use risk cutting procedures (options and/or stop orders) since most are not traded in a regulated market place.

They say when you buy securities you have a 50%-50% chance of making money, when you buy penny stocks you have a 50-50-90% chance, 50-50 chance of making money and a 90% chance of loosing money.

When buying penny stocks, like any other security investment, you never invest 100% of you investing capital. Penny stocks are fun to trade, but you should never count on them to be considered part of your primary investment objectives

Here are some sites for you

http://www.smallcapinvestor.com/

http://www.stockwire.com/

http://alphaking.com/

http://www.otcstockexchange.com/

http://www.mcapstocks.com/Default.asp

http://www.pinksheets.com/pink/quote/ind...

http://ragingbull.quote.com/cgi-bin/stat...

http://www.swingtrades.com/

Answer 2

A penny a share IS a low commission.  Expect to pay another commission to sell.

This is like worrying about the transaction expenses when buying Florida swampland.  When you are buying garbage and at risk of losing all your principal, the fees don't matter much.  Penny stocks operate on the "greater fool theory".  It doesn't matter if the company is junk.  I'll make a profit when someone who is a greater fool than I am buys it.