A "PennyGold certified broker" is an *INDIVIDUAL* who:
1) has experience.
A substantial part of his/her business over the past three years must involve the buying and selling of penny mining stocks.
2) offers a reasonable and flexible commission structure.
Especially important is a willingness to reduce the "official minimum" to 10% of the purchase price of small buys. This is important in order to accumulate odd lots without getting chewed up by minimums.
This should be a "perk" for good customers, who do not abuse it. Obviously no broker wants to be making $200 purchases all day!
If you think 10% is high, think again. Let's say that this policy allows you to accumulate stock at $0.08, in volumes that wouldn't make sense if the minimum was $75. When you sell it at $0.34, for a profit of $0.26 per share, do you care if you paid less than a penny per share during the buy?
Nope. But if there was a large minimum in place, you would certainly not accumulate any stock in small odd lots. You'd be relegated to all-or-none orders and miss a lot of little stuff ... that adds up.
3) sets a reasonable minimum to open new accounts.
Small investors do become big investors. Give them a chance!
4) can buy and sell on many exchanges.
At a minimum, the broker must be able to execute your orders on the NASDAQ OTC BB, or the Canadian exchanges (MSE, ASE, TSE, and VSE). Preferably on all of them. And of course, we are very interested in hearing about any brokers with experience in the non-North American exchanges, such as Perth, Australia.
5) PLEASE NOTE: PennyGold is NOT recommending or
certifying these people as experts or even honest/trustworthy/etc. Treat this page as a good source of
leads for finding a broker with junior mining experience. But please do
your own due diligence before opening an account with any broker.
How did this get started? What's the basic concept behind all this?
Let's see ...
Click here to see what headers like "Location" or
"Min Comm/10% Max" mean.
Click on broker's name for his full introductory letter.
| Min to
|Min Comm/10% Max||Exchanges|| Clients in
|Paul Billette||Leduc & Assoc. Securities||Montreal, Canada||514-324-9999||1-514-324-1818||cma@NetAxis.qc.ca||10||CAD$500||CADUS$70/Yes||Canada and U.S.||Canada, ROW but not USA|
|Jamie Schrimpf||Global Resource Investments||California, U.S.A.||1-800-477-7853||1-760-439-3938||HJS@gril.net||17||US$1,500||US$60/Yes||World||World except Canada|
|Timothy Major||Pennaluna||Idaho, U.S.A.||firstname.lastname@example.org||2||US$1,000||US$45, + $8 HC/Vague||U.S.A., Canada||Worldwide|
|John Worrell||Pennaluna||Idaho, U.S.A.||email@example.com||5||US$1,000||US$45, + $8 HC/???||U.S.A., Canada||Worldwide|
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