Dallas, Tx, July 27, 2010 - Penny stock investments just require two things: money and a broker. Money can be arranged but finding a penny shares broker can be difficult when a person is not familiar with the system. The stockbroker does the entire buying and selling of stocks. Many penny stockbrokers provide full services and discounts. However, each broker has pros and cons.

If you are fully aware of penny stock trading, then opt for full service penny stockbroker as they give individual attention in discussing your investment. They give their advice on what to buy and when to sell. The only drawback is that many full service brokers charge as high as $100 per trade.

Important things to look in an online broker

Brokerage charges are the charges levied by the online broker for buying or selling stocks through the online account. The rates are usually based on a sliding scale. The more stocks you purchase, the lesser the “cost per unit.” This can differ and are negotiable for larger purchases. Choose the broker as per your budget.

Account fees – Avoid brokers who charge hidden costs within their terms and conditions.

Phone connections – Online services can be affected by interruptions in broadband services, power outages, and computer problems that cause delays in accessing information at the critical time. Therefore, it is important to have telephonic access to your online broker.

Accessibility of money should be instant even though the broker holds it in a cash account. Most brokers have a cash account linked to the trading account. Have a MasterCard account that can help you get money anytime through an ATM or make a payment using a MasterCard. There are many options and good online brokers would provide all these options for successful trading.

Additional benefits – Look for brokers who give you extra incentives to open an account with them. Some of them provide a limited free brokerage period while others provide free reports on penny stocks. These can help you setup a lucrative trading account.