I often see the question asked “Where to buy penny stocks?”. There is no special place to buy penny stocks per say. You can do it with a full service broker, a discount online broker or with a company such as Charles Schwab that is sort of a mix between the two. Any of these types of brokerage companies will be able to execute your trades for you. However, what is the best place for you to buy and sell penny stocks?

The most ideal way for you to begin trading penny stocks is to open a online discount brokerage account. It only makes sense. A full service brokerage house is going to charge you more (in many cases a lot more) for your stock trades. They charge you more because you have a dedicated broker who is there to help you work your account. This broker is supposed to help guide you through the pitfalls of investing and to use his/her expertise to make you money. A full service broker is there to make recommendations to you. However, they are not going to recommend buying penny stock. Those recommendations are going to have to come from you. Since this is the case I see no point in paying extra commission for a service that they will not be providing. If you feel that your full service broker offers other value that you don’t want to miss out on then by all means use them but I wouldn’t use them. I used to be a broker with one of the countries largest full service firms. In fact, they were number two at the time behind Merrill Lynch. We would never have been allowed to recommend penny stocks to our clients for fear of customer complaints and the fear of losing an arbitration hearing should the customer complain.

I believe that online penny stock trading is where it is at. Open an online discount brokerage account with a reputable firm. You can use Ameritrade, Scott Trade, Fidelity, etc. It is not necessarily important who you use since most of them will offer similar services. Deposit your money into the account and then begin penny stocks trading. You will make your own decisions.

I know that some of you are uncomfortable right now with making your own decisions. However, this is extremely important. You don’t want to spend time and money for someone else’s penny stock recommendations. You can never be sure why they are recommending the stock. However, when you adopt your own penny stock trading strategy you will know the specific reason why you chose to enter or exit each and every trade. You do not want to be dependent on other people for your trading decisions. You can successfully make your own trading choices.

So now that you know where to buy penny stocks get an account opened up, deposit your money and continue to hunt around this website to find the information that you need to make you a successful penny stock trader.