Additional fees for penny stocks
Fees. We have a love hate relationship with them. We hate to pay them. Yet we have a need to charge them. Even this website, which sells various coin products, also generates income to support itself through advertising links which, in turn, charge fees to the advertisers, and provide a payment back to this website. Whether you click an ad because it is useful to you, or simply out of some kindness or gratitude for the free information posted, fees are part of life, and that’s the point being made here.
Your brokerage company will charge you fees for purchasing stocks. This includes penny stocks. Since penny stocks trade in large volumes or quantities in most cases, it’s important to pay attention to if there are fee increases or added fees for buying penny stocks.
Check for flat fees, variable fees, fees per share, and if there are caps or limits on the overall amount you may be charged. Basically, read the fine print of your brokerage company. Make sure you know what you are getting into before you buy.
It may sound silly, however, when you make a purchase, fees are not going to be reimbursed or undone. Since penny stocks are usually purchased in large quantities, make sure you double check your amount for typos. When buying 100,000 shares in a penny stock, it’s very easy to add an extra zero by mistake. Especially if trading on a smartphone app. Use caution and be careful to avoid mistakes and unnecessary fees.
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