$2500 is a rather small amount to invest, but you can buy a couple of stocks - too many and you'll lose all your money on transaction fees, because at that investment you'll be paying full price.
Consider buying one company and hold the investment over time - you don't have the capital to daytrade, and that's super risky anyway.
Penny stocks are a great way to make lots of money or lose it all - every one that doubles overnight, there's many others that descends to zero and stays there forever. If you're prepared to lose all your investment, go nuts, but if you're not, avoid that space, you're probably going to get better odds at a slot machine.
Well, you should not invest in individual stocks unless you have some kind of inside info. You should open a discount brokerage account with scottrade, Fidelity, or similar and invest in quality mutual funds or ETFs.
To be successful investing, you must be in it for the long haul. Investing is typically a five or ten year commitment.
Penny stock are NOT investments. They are simply throwing your money away.
I'd suggest you create a play money account and practice investing and watch what happens to your money over several cycles (again, we are talking 5 to 10 years)
Since you will most likely need this money in the next year or two (to buy a car) I'd NOT invest it.
Unless you can watch your investments all day, every day, you should invest in good mutual funds, not stocks. You should plan for a 7% to 8% return over the long haul. Some years you will make 50% and some years you will lose 50%. Mutual funds can be researched on Morningstar.com. You should buy no-load mutual funds in most instances. You should learn about dollar-cost-averaging. You should pick funds with high ratings and good long term records, and hold them until you retire.
lol. Put your money in the bank. Soon you will discover girls, and also want a car. { Buying and selling would eat up any potential profit you might make. }
You can't. At least you cannot in the US.
You Parent can open an account in your name under the "Uniform Gift to Minors Act" and transfer it to you on your 18th birthday.
But, they would be the responsible party for managing the account.
In fact, if they put their money into the account in and UGMA account under your name, and they let you trade the account, and it lost money, you would have every right to sue them under US Law.
I'm 15 years old and have about $2,500 saved up and would like to invest in stocks. What do I have to do in order to invest? I prefer to do it myself and not go to a brokerage. Where do I find out hot stocks or penny stocks? is $2,500 enough to gain profit? I realize I have to be 18 but kids my age invest in stocks. Also I live in Toronto, Canada.
