If I Have $200, Can I Trade Penny Stocks On The Computer?
I’d like to do a little stock trading for the educational opportunity, and for the chance of making a bit of money. However, I don’t have much in disposable income. Is there anything I can do online with just $200 bucks?
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Yes, You will have to find an online brokerage that has no minimum initial deposit.
Also don’t wire the money, transfer it electronically or send a check. (It usually costs $25 to wire funds from your bank, the other two ways are free.)
Then you will be charged a commission fee, it’s not based on per share it just a flat rate per trade (unless you’re trading option contracts.)
Usually it costs somewhere between $6-$14 per trade.
You could buy 2 shares of a $80 stock if you wanted to, but you still get charged the same commission fee.
Penny stocks are very risky (GM and Chrysler are now penny stocks), but yes, with $200 you could open an account and trade them. OptionsXpress allows you to open an account with any amount of money — they have no account minimum like most other brokerages have (at Charles Schwab, for example, you need at least $5,000 to open an account). Good luck with your trading.
Save your pennies and try this.http://www.optionsxpress.com/welcome/tou…
Yes, just open an account at TD Ameritrade. You won’t be able to daytrade with only $200 though; you’ll need a balance of over $25000 to daytrade regularly.
penny stocks are dead so save your money