Q&A for How to Buy Penny Stocks Without a Broker

There's no clear answer to this, I'm afraid. Penny stocks are high-risk and highly volatile assets that you should take caution with and do your own research, as always, and understand the associated risks.

I think the number one thing is the financial health of a company. The most important thing is to check for revenues increasing on a quarter-by-quarter basis. Another very important thing about a stock is the management team. If you open a stock 10K, which is published once a year, they have an analysis of the management team. You want to read about them to get an idea about where they worked before and their credentials. This helps you understand if they're fit to run a company. You also want to look at valuations. You can check PE ratio and PEG ratio as a good way to compare different companies across the same industry in order to see how undervalued or overvalued they are.

Some online brokers let you open an account without a deposit at all.

Three online sites: the Over-the-Counter Bulletin Board (OTCBB), the "Pink Sheets," and NASDAQ.

The commission becomes less important if you buy or sell several shares at once. There are a number of discount brokers who charge much less than $10 a trade. Believe it or not, there are actually some brokers who charge no commission at all! See broker reviews online (such as NerdWallet.com).

There are many good brokers online. Among them are Scottrade, E Trade, TD Ameritrade, and Charles Schwab. These brokers have become successful by being reliable and inexpensive.

A few penny stocks do pay dividends, but small companies are more likely to use their profits for capitalizing themselves. With penny stock you're more likely to profit from selling appreciated shares than waiting for dividends.

Policies differ from one broker to the next. Some brokers would accept an initial order that small (although they might expect a larger opening deposit).

There are many factors that contribute to a company's overall health. Analyzing factors like a company's income statements, revenue, & balance sheets will help you better determine where the company's stock is headed.

Any stockbroker can help you. Go to a nearby broker's office, or do it online by searching "discount brokers." Just know that penny stocks are not necessarily a safe investment for the novice trader.

Sign up with an online broker account that will allow you to add money to your account via bank transfer, wire, and check deposits.

Yes, there are multiple stock apps for both Android and iOS.

Check with E*TRADE, Scottrade, or any of several other online discount brokers. They can help you.

Compare online brokers by visiting NerdWallet.com, StockBrokers.com, StockTrader.com, TheStreet.com, or Barrons.com, or see past issues of Money magazine or Kiplinger's Personal Finance magazine. Well known discount brokers are not going to rip you off.

Probably E*TRADE because of its widespread popularity and ability to be used on the go as well as on the computer.

There are many brokers online. Two reputable comparison sites are NerdWallet and The Motley Fool.

Look in the financial section of any major newspaper.

Every investor asks that question every day. The real question to ask is: "Is this a company with a good future?" If you're not convinced that the answer is "yes," don't invest in the first place. If you believe in a particular company, buy their stock, and hold on to it until it rises to a price at which you'd like to sell.

No. A service is being performed for you by the broker, and you will pay for that service.

As long as you like. Trade it as you would any other stock.

No one knows what the future holds for any particular investment. Discuss your concerns with a professional, fee-only financial advisor.

In America, Fidelity is $7.95 per trade. Open a brokerage account with any amount. Transfer (an ETF) from your bank to Fidelity for your starting amount; $100 would be fine.

If you're buying stock, you could place an order stipulating a price below the current price, and if the price fell to that level, your broker would buy shares for you. If you were interested in selling shares, you could choose a target price above the current price, and the broker would sell your shares if they rose to that target price.

It means every time you ask them to buy or sell any number of shares for you, they will charge you $9.99, which will come directly out of your account. That is a fairly low fee by industry standards.

There are many online brokerages that can help you invest in American stocks.

Yes, any broker will expect you to make an initial deposit with them before they will execute trades for you. By industry standards, that's not an especially high fee. Buy shares quickly so that your money goes to work for you right away. Understand that the broker's fee will come out of your deposit and will not be invested on your behalf.

You can't get a debit card without a bank account. You can get a credit card if you can show the card company that you have good income or a good credit history. You can apply for a credit card online at the card company's website.

There is no reliable answer to that question. Anyone who could answer that would be a billionaire.

If you want to invest, get yourself a broker, or forget penny stocks all together and invest in companies you whose products you use and believe in.

Find a coin and/or precious metals dealer online. I use APMEX. You can purchase silver and gold as bullion (bars/coins), or as collectibles, (Morgan silver dollars, early American coinage, etc.).