FundRobot » Funding Sources » Getting started in penny stocks?

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Old   #1 (permalink)
 
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Default getting started in penny stocks

So I would like to get started in penny stocks. Im in college and Id like to make some quick petty cash. I have very limited funds as you could imagine, so I need to find a brokerage account were I am paying as very little fees as possible, but I would also like to have as much freedom to to buy a large variety of different stocks. And Id like to be able to start with $500-1000 account. I don't need fancy add ons that a lot of the different accounts offer I just need freedom, cheap and hassle free. Ive done the research, so no need to lecture on the dangers haha Ive heard just about all of them.



Thanks
TopGear.12 is offline   Reply With Quote
Old   #2 (permalink)
 
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Default getting started in penny stocks

1stly go and ask any local advisory to buy some for you...
Gamer125 is offline   Reply With Quote
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Old   #3 (permalink)
 
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Default getting started in penny stocks

What you shoujld do is just pick out a firm like TradeKing, or
E-Trade, open an account and go for it

Your going to get fees less than $7 per transactions, don't know what you mean by "fancy add-ons".
All firms are covered by the same rules and regulations so you not get any unnecessary hassles

No reputable firm really wants your business and your going to be charged whatever the firms feel like doing so get over it

Good luck, I hope you can make some quick petty cash, just remember a very good business man once said "A fool and there money are soon parted"
TodayIBUY is offline   Reply With Quote
Old   #4 (permalink)
 
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Default getting started in penny stocks

go ask any broker to buy some for you

You REALLY want to save time then just get a match, set fire to all your money, and cut out the middle man
Cash754 is offline   Reply With Quote
Old   #5 (permalink)
 
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Default getting started in penny stocks

There are a number of red flags in your question that tell me you aren't ready to invest. You don't invest in stocks to "make some quick petty cash." That's a sure way to lose money. And fees are what they are, you won't get away with less than $6 or $7 per trade - and at $500 as a trade amount, you are already in the hole over 1% when you buy the stock. And penny stocks are a terrible investment - there is very poor information available and the majority of the companies are shell companies that are set up to do nothing more than raise money from suckers.
TheGreat33 is offline   Reply With Quote
Old   #6 (permalink)
 
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Default getting started in penny stocks

You'd have a better chance of earning money at a casino. The majority of penny stocks are worth pennies for one reason - the company is a sinking ship. There's a reason why penny stocks are attractive to beginners and not to successful investors.

If you're interested in stock market investing, I'd recommend sticking with the fundamentally strong, undervalued companies. To identify these you need a basic understanding of accounting, finance, stock market terminology, and fundamental analysis.

But don't throw away your money in penny stocks.
TheGreat33 is offline   Reply With Quote
Old   #7 (permalink)
 
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Default getting started in penny stocks

Did your "research" include the SEC warning below?

Penny stocks are not starter stocks for beginners. They are the riskiest and most manipulated part of the market. I am amazed at how many supposedly smart people get totally suckered into stupid ideas.

If you think you will out-scam the scammers, you are wrong.

I know that's not what you wanted to hear, but it is what you need to hear.
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