I think that scottrade is a pretty reliable site, I haven't heard any negative review on it, but not you got me concerned Strykstar. What negative reviews have you heard about it?
First thing to ask yourself is why even bother with penny stocks, they are a very volatile market to begin with the reputation behind it is also flimsy. You should do your research before hand before attempting to invest regardless of the amount.
A couple of things about penny stocks websites and then penny stocks. Websites are usually scams. General rule of thumb in the internet, if its too good to be true, then its not true at all, its a scam. On the other hand, working with penny stocks is like trading in anarchy, someone with a ak47 will come and rob you. If you are want to play around, sure, go ahead, $20 are easy money to spend, but dont got and invest a lot
I myself risked it once, but learned my lesson. It is to...MAKE SURE THE STOCKS ON ON NASDAQ OR ANY REPUTABLE SITE!!
Charts are what it is all about. If you are highly emotional when it comes to trading, I'd stay away.
The problem with people promoting penny stocks is that they never seem to have any evidence to back up their claims. I'm a strong believer in being hassle free and those "penny stock boys" never seem to be hassle free. Little evidence to show the value in penny stocks, unless you have insider knowledge on them.
I've made over 250 penny stock trades and not once has that ever happened. With a little experience, you won't even get close to that either.
I've been investing 20 years. I'll take your word that you've never had one company bust out of 250 penny stock trades, but I'll retain a healthy skepticism of such a claim. How long have you been trading penny stocks? How long do you typically hold them? What about transaction costs, position sizes, taxes, etc?
