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Buying stock

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quarterback:
They only offer a certain number of stocks?  Are they all major stocks or what?  Is there a list you can see without signing up?


--- Quote from: shardian on February 20, 2008, 02:05:58 pm ---crap, the stock I want is not available through sharebuilder. I could have swore it was when I signed up.
I remember reading that they maintain a list of 6000 stocks, and that it changes. I did not expect it to change that much though.

Guess I will go with someone else. Good thing I waited though, because now the stock is down to 15 cents.

--- End quote ---

danny_galaga:

a lot of online traders wont allow you to buy really 'iffy' stocks- too much risk for such low commissions...

boykster:
I keep my $$ in a coffee can buried in the backyard......

shardian:

--- Quote from: quarterback on February 21, 2008, 12:30:29 am ---They only offer a certain number of stocks?  Are they all major stocks or what?  Is there a list you can see without signing up?


--- End quote ---

You can enter the symbol for a stock, and if it is not trade able there, there will be a little tiny message in red near the top. Thye claim to trade approx 6000 stocks. As per their CS agreement, if you trade in a certain stock and all the sudden Sharebuilder decides to drop support, you can't buy or sell that stock anymore through Sharebuilder - you are basically stuck. I am assuming you could go thru another agent to sell or buy, but I'm really not sure how that works.

Samstag:

--- Quote from: danny_galaga on February 21, 2008, 01:56:59 am ---
a lot of online traders wont allow you to buy really 'iffy' stocks- too much risk for such low commissions...

--- End quote ---

Discount brokers like Sharebuilder charge a flat transaction fee, not a commission.  I think the reason they don't carry the penny stocks is that it's a very newbie-friendly service that caters to first-time and small investors.  It's really geared toward someone who wants to put a few bucks a month into large stable companies.  Penny stocks are very volatile and don't have to follow some of the strict rules required by the major exchanges so they tend to be very unfriendly to the small investors.  Investing small amounts over a year only to have the company go completely under isn't the experience Sharebuilder is offering.

That's not to say you shouldn't buy penny stocks, but you should understand that they can be pretty risky.  Other brokers will let you buy them but you'll pay a bit more.

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