| I love trading penny stocks. I've done it many, many | | | | brokers you know off offhand, like those you might |
| times and have profited by doing so. While the penny | | | | have seen on CNBC or in your favorite investing |
| stocks arena has monumental profit potential, it also | | | | publication. |
| has some risk. Deciding where to buy penny stocks | | | | After you have a handful on your list, it's time to |
| online is as much a part of your success as trading | | | | start looking at fees and options. Do they charge a |
| the right stocks. | | | | higher fee for trades involving sub-$1 stocks? Are |
| One of the worst mistakes you can make is opening | | | | there any fees for trading too much or too little? Do |
| an account with the wrong online penny stocks | | | | they offer fast trades and the options you'd like? |
| broker. With so many fly-by-night stock brokers out | | | | The goal is to get your list down to 3-4 stock |
| there and just plain bad brokerages, it's vital that you | | | | brokers for further review. Use your favorite search |
| do your homework first. | | | | engine and start looking for news, reviews and chat |
| One rule of thumb is to not be swept off your feet | | | | about these brokers. |
| by low fees. While they are nice, security is far more | | | | At the end of the day, you'll have 1-2 brokers that |
| important. | | | | meet all your expectations and are highly visible and |
| To find the right broker, start by scanning potential | | | | respected. While it's possible you won't have the |
| online stock brokers and quickly weeding out ones | | | | lowest trade fees, you will have security and peace |
| that don't meet some initial criteria. We want to get | | | | of mind. If you want more steps you can take to |
| a list of a handful of places to research more | | | | reduce your risk when buying penny stocks online, |
| in-depth. | | | | check out my article. Most people fail and/or fall |
| One idea is to nullify any stock brokers who haven't | | | | victim to scams because they didn't take some |
| been around for at least a few years and who aren't | | | | simple steps to avoid it in the first place. |
| that visible. To start off your list, write down any | | | | |