Monday, October 11th, 2010
For those not familiar with what penny stocks are, these would be stocks offered at under $5 a share. The goal here is to acquire the stocks at low prices and sell them for more than what they cost to purchase. Some will purchase these stocks for long term investments but most people wondering where to buy penny stocks will look towards trading.
Day trading is the process of buying and selling stocks in the same day. It is no secret that such a venture comes with great risk. However, many have proven that massive profits can be generated through such stocks which are why they are perennially recommended to those looking for something a bit more dynamic in their trading ventures.
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Again, this all does raise questions regarding where to buy penny stocks. The short answer would be to acquire them from a reliable service that trades in penny stocks. Most people already know this. What they need is a recommendation for a service that trades in such stocks. The following are three of the most well known brokerage firms that handle this kind of:
E*Trade: Is there a more popular online trading site than E*Trade? The answer to that question can be debated for hours on end. There are scores of excellent trading companies out there. That said, very few have the potential to deliver the high-quality service that this company is known to deliver. Again, there are many companies on the market that profess the ability to offer low cost, high volume trades but few deliver at the same quality level as E*Trade.
Scottrade: You could say that Scottrade gives E*Trade a run for its money as far as popularity goes. Scottrade has certainly deserved its reputation as a high-quality trading service. This is a trading service that takes many additional steps to ensure that clients have access to the trades they wish to make at costs that will prove affordable to them. Such a combination is definitely a noble one and Scottrade definitely is deserved of its positive reputation.
Zecco: Zecco may not be as well known as the other two trading services but it is definitely a top resource for those wondering where to buy penny stocks. What drives people to purchase penny stocks from this particular broker? Low transaction prices and high-quality customer service would be among the two most cited reasons.
Of course, there are far more than three brokerages which deal with penny stocks. The key is to find a service …