Need a good broker to trade in penny stocks. please dont tell me how dangerous it is; i aready know. I had heard suretrader was pretty good but theyre a little iffy.
What about Robinhood - the free trading app ? Read about extra fees involved with Non-DTC Eligible securities: https://d2ue93q3u507c2.cloudfront.n...egal/RHF Low-Priced Securities Disclosure.pdf
Simple don't know any good Penny brokers, matter of fact, why would anyone become a Penny broker? Wouldn't one prefer to sell NYSE/AMEX/Nasdaq. From time to time, I will trade stocks in the pennies, but they didn't start out that way, almost all the times they were $5 or more, so I am strictly a chartist and for me very best pattern is sideways, I get in near lows, if it goes up another nickel, buy more the other 35% I had in mind. So like on HK, I seek heavier traded stocks of over two million, yes it gives me less to choose from, BUT I am looking to make 100% plus on the trades in short time. HK is NYSE stock, fallen from grace cause decline of crude oil. So in February was going sideways and got in 45/50 cents, out at 90/95 cents of half position, took out 40% more at $1.35/$1.40. Late May in at 24/29 cents and 29. I always keep 10% of the shares, many often times they become worthless, and sometimes all of them have become this way as well, but overall am ahead.
The only suggestion I'd have is someone who has a per ticket fee. Don't want to pay a penny a share for a penny stock lol
All the major brokers will let you trade penny stocks, whether they're listed on Nasdaq/NYSE or on OTCBB.
Check out GBIM. While not a penny stock....it did get below $1 at one point this past 12 months. With biotech being beaten-down so much, stocks like this could show real upside gains. Tiny company, but with an amazing revenue per employee figure.
GlobeImmune Inc. GBIM, +0.00% has been gaining attention lately after several reports have hinted at a potential take-over. In relation to previous filings, the company has until July 1 to present a plan to comply with an unmet NASDAQ rule so a scenario like this could bode well for the company if it's true. The reports came from InsiderMonkey. In any case, shares of GBIM have traded significantly more actively today as compared to previous weeks. As of the lunch hour on Friday, the stock had traded more than 7 million shares and has held a consistent uptrend since Monday (6/13).
Beauty of penny stocks is no one really knows whether the rumors of take over are real or from the figment of imagination of one individual creating easy picking scenario for themselves eg SEC Suspends Trading in Four Penny Stocks On Ebola Claims http://blogs.wsj.com/moneybeat/2014/11/20/sec-suspends-trading-in-four-penny-stocks-on-ebola-claims/
Yeah...I hear you...but in the case of GBIM, it's a pseudo-pennystock....as it's still Nasdaq listed. And with 7 million shares being traded, there is no one individual who could sway the stock price. These characteristics make it much more attractive than "pink sheets".