Opening a Penny Stock Trading Account
Brokerage firms have varying levels at which they will let a person trade stock, and some don't want their customers to buy penny stocks. Find out how to identify a stock brokerage firm that can be used to sell penny stocks by interviewing a few with help from a portfolio manager in this free video on penny stocks and investments.
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How do you open a trading account for penny stocks? Hi, this is Roger Groh at Groh Asset Management. Well, I'm tempted to say buy a U.S. bank and just wait for it to become a penny stock, but no, that would be unfair. Brokerage firms have varying levels at which they will let you trade stock. Some don't want you to buy penny stocks, and some do. To identify a stock brokerage firm that you can use to sell penny stocks, you're going to have to interview a few, meaning not all companies want to deal with people who are buying and selling penny stocks. The thing to do? Call them up and say, "Can I buy? Can I short? What can i do in penny stocks?" And have a discussion. I'd start with the large firms first and ask, and then you can Google for the smaller firms -- a handful will come up. Just be very careful because there have been numerous regulatory problems in that area, and you're going to want to be very careful. Hope that helps. I'm Roger Groh with Groh Asset. Thank you very much for spending time with me.