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How to start investing in penny stocks

by , 22 September 2015

If you want to start investing in penny stocks, you buy them in just the same way as you would any other share listed on the Johannesburg Stock Exchange.

This means if you don't already have a stock broker, you need to find one. This is your first step to start investing in penny stocks.

So once you have an account with a stock broker sorted, how do you buy penny stocks?

Read on to find out…


How to buy penny stocks through your stock broker


There are a wide number of stock brokers you can choose from.

To buy penny stocks you need to open an account with one. Without a stock broker, you can’t buy or sell shares on the stock market.

Whilst some investors still opt to give their stock broker instructions over the phone, more people are doing it online.

It’s an easy way to buy penny stocks. And it can save you money in trading costs.

But, especially if you’re starting out, you may want to deal over the phone. You may feel a bit nervous talking to a stock broker for the first time, but remember you’re the customer.

You shouldn’t feel nervous about asking questions either. After all, it’s your money at risk on the stock market. This will help you find your feet investing too.


What happens when you buy penny stocks?


When you give your broker an instruction to buy a penny stock, they’ll find you the best deal. This is the same whether you trade online or over the phone.

Once you give your stock broker to buy a particular share, you’ll receive a contract note, usually via email, shortly afterwards. This details:

  • The number of shares you bought;
  • The settlement date;
  • Commission; and
  • Any other relevant information.

Once you’ve bought your penny stocks, time will tell if your research paid off and you’re rewarded with handsome profits.

So there you have it. How to start investing in penny stocks.

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How to start investing in penny stocks
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