HomeHot penny stock picks are all the rage on stock trading message boards and online stock communities. And know who is profiting the most from this phenomenon? Fraudsters, that's who. They are wolves preying on the wet-behind-the-ears investors trying to shortcut their way to micro cap fortunes.
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The elusive hot penny stock picks are exploited by two main parties: perfectly legitimate brokers who hype their services to lure new customers and completely illegitimate newsletter owners, forum community members and yes, even obscure brokers. In a good majority of the cases, the latter is more common and pervasive.
Unless the origin of the advertisement or promotion is someone like TDAmeritrade, Charles Schwab, Fidelity, E*Trade or someone else of their ilk -- in other words, established well-known and reputable brokerage services -- then you should be very very skeptical of claim of hot penny stock picks. In fact, those legitimate services won't actually provide you with a direct list of hot penny stock picks. Instead, they'll provide you the tools and services to research and execute your own white-hot micro cap stock investments.
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Most other individuals and organizations promoting top penny stocks are probably involved in some kind of scheme to flat out rip you off through a scheme called chop stocks or use you to inflate the value of a stocks to execute the pump and dump scheme. There are a lot of people making a ton of money with nano cap stocks, unfortunately many of them aren't making them through investment but rather through ruthlessly exploiting novice investors.
So before you spend too much time and money sifting through online claims of hot penny stock picks, you need to ask yourself if you're ready to do the real due diligence required to succeed in this volatile and fraud-ridden field of stock trading.
