nestor
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I think it's fantastic that someone your age is interested in investing for the future. Keep up with that attitude and you will be a millionaire by the time you are 25!
What I would do is hold on to your $10 and keep adding to it until you get up to $50 or so and buy some shares of a strong stock. UN (Unilever) will continue to grow steadily and you can continue to add more shares as you go along.
It will cost you $7-$10 to make the stock purchase each time, so consider that too. |
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Darren
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go to www.sharebuilder.com. |
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chk_m8
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http://scottrade.com
Regular trades cost $7.00 for each transaction - $7.00 to buy and $7.00 to sell. That's $14.00 to get in and out of your position - and that's on top of the price of the stock itself. So, your $10.00 stock investment would need to go up 140% just for you to break even on your investment. Hard to do, but not impossible.
But then penny stocks are not "regular" trades - they're "pink sheet" trades, and there are additional expenses associated with them.
Per Scottrade's Web site, "For stocks priced under $1, add ½% of the principal value to the commissions shown. Some foreign and pink sheet stocks must be traded with broker assistance."
"Broker Assisted" trades are $27.00 for each transaction! That's $54.00 just to buy and sell, plus your $10.00 investment. Now you're talkin 640% just to break even!!!
BOOYAH!!! |
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Clown Knows
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Stock brokers. However, penny stocks are risky and can easily become worthless. And the commission to purchase them may be more than the price of the stocks. |
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rpkeskar
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well well...looks like people are discouraging you. I've currently invested in penny stocks, I'm not saying they are going to do great but its not a bad place to take risk and see what happens.
Use Zecco.com, but yea you might need who bunch of legal information, SSN, bank account to trade in it. Get parents help. But there is not fees for trading.
Good luck. |
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The Shepherd
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You can buy them through a direct access discount brokerage, but it will cost you more in commission than it is worth. If you spend $10 in commissions to buy $10 worth of stock you have to double your stock price just to break even.
You are too young to open an account you will need a parent. But, see if your parent will let you buy shares with their money and split the profit with your for your stock picking skills. |
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mister ed
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kyle why don't you take you ten dollar bill and buy the biggest and loudest fire cracker you can find -- it will give you much more "bang for the buck:" if you do not understand bang for the buck ask your father to explain. |
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jenni
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If you want to invest a small amount, how about a savings bond? It's guaranteed by the government. Penny stocks sound pretty risky, and even if you only invest a small amount, since there is so much fraud associated with them, you could be throwing away your money.
Here is a website where you can play investment games, designed for kids by kids (according to the website):
http://library.thinkquest.org/3096/ |
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zyberianwarrior
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You should be FLOGGED for this question. Penny Stocks are UNREGULATED, UNRELIABLE GARBAGE! Stay away from them. Plus you can't without parents help. |
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Brad H
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NOOOOOOOOOOOOOOOOOOOO! |
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