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I recommend investing in quality stocks instead.
If you buy 600 shares of a stock worth 50 cents each, you may 'feel' like you own a lot. But you own the same as one share of stock worth 300 dollars each. If the price of either goes down 20%, you still lose money. If the company goes broke, you still lose everything.
Penny stocks are cheap for a reason. They are usually not earning money and are on the verge of bankruptcy.
Penny stocks have a much higher cost for each trade, ruining your returns for such a small investment amount.
I suggest going to a casino rather than buying penny stocks. You will lose either way but will have more fun at a casino.
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You need to send the brokers your information, it's the law.
I'd invest in something other than a penny stock if I were you, but hopefully you have fun either way.
Open up a retail brokerage account and invest in Inovio Pharmaceuticals (INO). Tell you friends and family. Look for a 100% or more gain a year from now.
im 19, and i just want to buy penny stocks and experiment with 100$. i have one stock in mind that i really think can make me a profit but i dont want to put down 500$ as a minimum because i am new and i dont want to lose 500$. Ive been looking for online trade sites but they require me to print stuff out, and fax stuff to them. is there anyway i can just fund my account with my debit card, put 100$ on my account and make small trades? i really need to do this soon.
Thanks
