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  1. Default Worthless 0$ stock question?

    I'm a total amateur at stock trading.
    Recently I read that "worthless" stocks are a pain in the ass to get rid of. In other words, it'll follow like a lingering odor. I read that it is also expensive to get rid of them. TradeKing charges $30 to get rid of each worthless stock which is unsettling because I wanted to play with some penny stocks.

    My question comes in multiple parts.
    1. Is there any downside to having worthless stocks? Like can I keep them forever without being charged fees?
    2. Also, I read that some brokerage companies charge for inactivity. Can you close an account when you still have worthless stock?
    3. Finally, are there any monthly fees associated with keeping worthless stock? I read on yahoo answers that TradeKing charges 20$/month to keep worthless stock

    I am wary about these stock brokerages and even the popular ones seem to me a scientist, like they want to fuck you over at each step while pretending they're the best option.

  2. Default

    TDA doesn't charge me anything except for trades. I have a position that has been halted for weeks that I bought 100$ worth of (I only did 100$ because I could smell something rotten)...it will probably never trade again as the company went private some time ago and someone left some shares floating around that came into play one day. Anyway the 100$ is still there adding to my buying power but it's really just probably gone. Maybe one day they will just erase it but until then my buying power still shows that it is included.

  3. Default

    Best to just stay away from penny stocks to be honest, much better opportunities out there.

  4. Default

    I've read that the major value of penny stocks comes from its huge volatility.
    However I was wondering, how do nonpenny stock investors make much money?
    The chance of the stock values doubling seems difficult not to mention getting something like a 20 fold increase.

  5. Default

    Exactly, it's a "lottery" mentality, in order to be successful at trading, you must be consistent, trading penny stocks consistently is an oxymoron.

 

 

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