Penny stock discount brokerages

We have researched all of the best stock brokers in the "deep discount" category, that are worth considering as a penny stock broker. Use the table for a quick overview of commissions, fees and minimum deposits.

Details for each of the brokers are listed below; use the links or scroll down to find the best stock broker that fits your personal needs. To make a suggestion for an addition, please email us. When browsing through the Penny Stock Brokers belowthere are a few critical points to look for. The majority of brokers have fees that make penny stock trading more expensive than their big, colorful price tags lead you to believe.

The truth is that a lot of brokers don't want to deal with small accounts trading penny stocks as they make the most money from large and active accounts. To deter penny stock trading, brokers may have fees that affect the trade of low priced stocks, usually less than a dollar. Another typical method is to have a "large order surcharge" that kicks in with trades of more than 1, orshares. These additional fees are usually noted with an asterisk in small print at the bottom of the page.

We have made note of these fees with the brokers listed on this page, just look at the "Penny Stock Fees" column on the chart and read the notes. If you find a broker not listed here, make sure to look at the fine print ETrade and TD Ameritrade offer more impressive tools and customer service. TD Ameritrade now also offers free Level 2 quotes for PinkSheets and OTCBB using their Command Center 2.

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You must be APEX qualified but this is pretty easy to get and from our experience doesn't get taken away if you are inactive unlike ETrade Pro.

Because of this, a lot of traders are better off to go with ETrade or TD Ameritrade even though the commissions are on the higher end. Formerly Ameritrade and TD Waterhouse, the companies have now merged. Since the merge, things have gotten better for traders. Once you reach APEX level by averaging 5 or more trades a month for three month period you will have free access to live streaming Level 2 quotes via their Command Center 2.

Plus it is integrated with your broker and you can make the trades within the platform. TD Ameritrade's mobile apps, available for iPhone, Android, and BlackBerry, are arguably the best in the industry.

It is very easy to keep track of your penny stock trades using this app. You can make trades, keep an eye on your watchlist, check charts, news, and even watch Level 2 quotes! Provided you are APEX qualified. This is the only broker offering an app with Level 2 as far as we know, and it is a HUGE feature in our opinion. We've tried and used several brokers, but always use the TD Ameritrade mobile app to keep and eye on things while on the go. With TD Ameritrade there are also NO Inactivity or Maintenance Fees no matter what your balance and trading activity level are.

Our only quibble with TD Ameritrade is that they restrict trading on some penny stocks. Some will require a phone order to trade, while others you will not be able to make an opening trade at all.

This is unfortunate because TD Ameritrade has performed quite well when it comes to getting fast fills, significantly better than ETrade in most circumstances. However, you will have to live with the occasional stock that you're unable to trade. TD Ameritrade's contact info - Phone: Stock market boom 1920s speculation usa penny stocks on ETrade, while more expensive than other discount brokers, is a viable option because of their features and ease of use.

With Power ETrade Pro 5. ETrade also offers more features for research, charting, and analysis, and a decent mobile application. TD Ameritrade's trading App is miles ahead however. You can also watch CNBC live in your trading platform.

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ETrade has recently done away with inactivity and maintenance fees, so you won't have to worry about getting nickeled and dimed if you aren't active. The only reservation we have about ETrade is their tendency to restrict buying on certain penny stocks.

We don't see this as a disqualifying factor, however. The restrictions are few, and chances are you don't want to be involved with most of the stocks that get restricted. Overall we think ETrade gives it's clients an excellent "bang for the buck" when you consider their features, quality of those features, and top-rated customer service.

ETrade has earned our top designation of "Best Penny Stock Broker" for its great included features and customer service. Check out a how much to get a helicopter pilots license ETrade review here.

Until recently, however, they were not an economical choice as an online stock broker. This is a "Windows-based trading platform offers faster trading capability, penny stock discount brokerages market data, and fully customizable layouts.

Get conditional orders, directed trading, Dow Jones News, tech filters, and trailing stops. Word on the street is that they do not restrict buying on specific penny how much money does the illinois lottery make often. Take that with a grain of salt, but with this combination of a good commission, features, and renowned customer service, Fidelity has become an attractive rbi approved forex trading in india as a penny stock broker.

Fidelity's contact info - Phone: Once more of an "investment" oriented company, their introducing broker agreement forex and fees for online trading were not competitive with the other options out there. The only limitation that will affect penny stock traders is that orders are capped at a maximum ofshares.

Compared to other brokers, this is not as restrictive toward penny stock trading, but it still presents an issue. If you want to trade sub-penny stocks, particularly on the low end toward trip-zeros, this order maximum is going to get in your way. Whether this is going to affect your personal trading is up for you to decide, for many it won't be a big deal.

Schwab offers both an online streaming quote option, and a software based platform called StreetSmart Pro. With it you can get quotes, charts, news, screeners, alerts, and manage your trades with a few clicks. As of late, we have not heard much grumbling about penny stock restrictions with Schwab. If it were not for the share limit on orders, this would be one of our Gold Level penny stock brokers. If that limit doesn't affect you, than we suggest giving Schwab a serious look.

Schwab's contact info - Phone: Again, ChoiceTrade and Zecco are still a better choice overall when it comes to the commissions on low priced penny stocks. See more details through the link below. Check out a full SogoTrade review here.

SogoTrade's contact info - Phone: They just recently merged with Zecco, once one of the decent options for penny stocks. Because of this, you can do much better with another broker, and we cannot recommend trading penny stocks with TradeKing.

Don't get us wrong, TradeKing is a great broker from what we have found in our research, it is simply not a viable option for penny stock trading. TradeKing's contact info - Phone: Opening inShareBuilder's CEO Jeff Seely made it his goal to let everyone participate in a market dominated by large brokerages.

The ShareBuilder philosophy is based on three concepts: Discipline, Diversification, and Dollar Cost Averaging. What makes their service unique, however, is the Automatic Investment Plan.

This is a nice feature for making longer term investments, allowing you to build your portfolio slowly and affordably. This doesn't apply to automated investments, but you probably wouldn't be using the automated investment system to buy penny stocks either! The additional fees for trading low priced stocks are too outlandish for us to recommend Sharebuilder as a penny stock broker. ShareBuilder's contact info - Phone: For new investors trading small amounts, this won't be much of an issue.

For larger trades, however, ETrade, TD Ameritrade and Fidelity are better options. Scottrade is also notorious in the penny stock community for restricting buy orders for specific penny stocks, or requiring the order to be called in. This issue, combined with the extra "Penny Stock Fees" make Scottrade a poor option as a penny stock broker.

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Check out a full Scottrade review here. Scottrade's contact info - Phone: Looking for a great broker for big board stocks or options? Stock Market Information and Basics 2. How to Buy Penny Stocks 3. The "Penny Stock" Explained 4. Penny Stock Company Actions - Good 5. Penny Stock Company Actions - Bad 6. Finding the Hottest Penny Stocks 7. Stock Share Structure Explained 8.

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