I don't want to have to put hundreds of dollars into an account and draw from it. I would like to put just $20 to $30 into an account and draw from it.
2007-01-26 10:36:18 · 7 answers · asked by ericlevesque1 1 in Business & Finance ➔ Investing
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2007-01-26 10:40:18 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Investing in Penny Stocks is only profitable for experienced investors. Take this money & buy some books on investing. It'll be much more rewarding than a novice buying penny stocks.
You've been warned!
2007-01-26 23:37:39 · answer #2 · answered by Common Sense 7 · 0⤊ 0⤋
Investing that amount in penny stocks is not really possible. Just the fees etc might add up to your total investment in the first place. Plus your investment would have to go up like 1000% for it to even be worth your while, so what's the point?
2007-01-26 18:40:47 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Keep in mind that most stock trading web sites will have minimum balances.
After that, you need to consider the trading fees. TD Ameritrade will charge you $10 just to buy, so you'll lose 1/2 or 1/3 of your money before you accomplish anything. Other sites are not very different.
You will be limited to over-the-counter and pinksheets. Here are their web sites:
http://www.pinksheets.com/index.jsp
http://www.otcbb.com/
2007-01-26 18:43:42 · answer #4 · answered by Anonymous · 0⤊ 0⤋
it doesnt make sense to invest 20 bucks in stocks, or any money into penny stocks at all
get a savings account and build it up until you can put it in a mutual fund
2007-01-26 19:35:48 · answer #5 · answered by swenjj 4 · 0⤊ 0⤋
You'll have a better chance of turning a profit on the slot machines.
If you open a brokerage account to trade any stocks you'll have to go with whatever the minimum deposit the brokerage requires.
2007-01-26 18:41:28 · answer #6 · answered by Bostonian In MO 7 · 1⤊ 0⤋
If you pay $3.00 USD to buy a few stocks and $3.00 USD more to sell a few stocks you will need to wait until your stocks rise to 20% just to recover your costs.
You will never make money with just $30.00 USD.
I know a company that can offer you $8.40 USD after a year.
Top 4 Answerer.
2007-01-26 20:30:39 · answer #7 · answered by Anonymous · 0⤊ 2⤋