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Selecting the Best Penny Stocks Broker

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Choosing the Right Penny Stocks Broker

penny stocks broker

Choosing a penny stocks broker requires you to find someone who offers reliable service with no minimums or hidden fees. You will also want to find a broker who can provide trades for a low flat rate. Another important aspect to keep in mind, particularly for beginners, is the amount of trader support offered.

Well Ranked Brokers

TradeKing is one of the top penny stock trading brokers on the internet today. There is a $4.95 commission fee per transaction. There are no minimums to maintain. You will also find a nice investor community for interaction.

OptionsHouse is another top online brokerage company that provides the lowest flat rate commission in the business, at $3.95 per trade. There is a minimum opening deposit of $1,000 for a cash account and $2,000 for a margin account. There are no account minimums after this deposit, however. There are no additional charges for large orders or extended hours trading.

The Best Penny Stocks Broker

With more than 400 local branches, Scottrade is considered by many to be the best penny stocks broker. The commission per stock is higher than some other companies at $7. It only requires $500 to open an account, however, and there is unparalleled support available for novice traders. Scottrade is a seasoned and well respected company with a good history of happy clients. Although it is not the cheapest option, it is the best penny stocks broker, particularly for those new to day trading.

If you are an investor wanting to branch into the penny stock world, ask your friends which company they trust to handle their online trading. Do some research to determine the highest rated companies. Demand excellence from whichever brokerage company you choose. They should be happy to help you with questions. If they do not meet your satisfaction, you should not be doing business with them. Finding the best penny stocks broker is well worth the effort.

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