If a company has a market capitalization of less than $50 million than it is called a nano-cap stock. In general, both of these fall under the category of penny stocks. Penny stocks are traded infrequently and selling them may prove to be a hustle, because of highly irregular demand, unlike their big brothers traded on Wall Street. This also leads to another penny stock characteristics, their value is hard to determine due to infrequent trades, plus they are traded over the counter. All these had led to penny stocks being labeled a highly speculative trade. Insidermonkey experts made a list of 5 best brokers for penny stocks.
We have picked two items from their list. The first one is Interactive Brokers. One thing we really don’t like about Interactive Brokers is their per share commission policy. Those half cents don’t seem much, but considering that penny stock in if fact a volume trading, they quickly add up and will seriously eat into your profit margin. TD Ameritrade doesn’t require a minimal account, which makes it great for beginners. They also offer a cash bonus for signing, ranging from $100 to $600 depending on the account value. You can also check our list of The 10 Most Successful Investors in the World Today.
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