Penny Stock BrokersLow Commission Stock BrokersThe best penny stock brokers are low commission stock brokers. Internet stock broker comparison. Save big money on stock trading fees by using an online discount stock broker instead of a full service broker.
Photographic Print Before you open an online trading account, click on the Trading Fees/Commissions link on the internet stock broker's website. Scan the fine print for these fees. The large order fee is especially important to sub penny traders. Any internet stock broker that charges this fee will not make a good sub penny stock broker.
Best Online Stock BrokerThe best penny stock broker is the one that charges the lowest fees and offers the best customer service.I've listed a few of the best penny stock discount brokers below to help you make a quick comparison.
Penny Stock Broker ComparisonScottrade.com$7 stock trading commissions on market and limit orders plus 1/2% on shares below $1. $500 cash account minimum. $2,000 margin account minimum.Free stock market research and quotes.
Choicetrade.com$5 for any trade no matter the share price. No account minimum. Penson cleared.I have been with Choicetrade since I started trading. I have never felt the need to switch to another discount penny stock broker. They charge low trading fees and have always provided helpful, friendly customer service. I made some silly mistakes as a beginner and their customer service and tech support people were always kind. I also like Penson, their clearing house. I have dealt with the staff there on several occasions and they have always been courteous and professional. Penson Financial Services charges block trading fees for trades of 100,000 shares or more. The fee is 1% of the cost or proceeds of the trade.
Lowtrades.com$4.95 online trading fees. They charge a $50 inactivity fee if you fail to make a trade for 6 months. Penson cleared. No minimum for cash accounts. $2,000 minimum for margin accounts.
Zecco.com$4.50 trading commissions unless you maintain a $25,000 account balance or execute 25 trades monthly in which case they will give you 10 free trades per month. Penson cleared.There is no minimum account balance requirement if you are not trying to get the free trades. There is a $2,000 minimum for margin trading accounts.
Sogotrade.com$3 fee for market or limit orders . For shares trading under $1, they charge 1/2% of the value of the shares plus$3. $500 minimum account balance requirement.My recommendation: Commission free stock trading is hard to beat. If you can maintain the $25,000 minimum, go with Zecco. If I had known about them before I opened my Choicetrade account, I probably would have signed up with them. If you plan to trade a smaller account, make Choicetrade your penny stock trading broker. They don't offer no fee stock trading but they do charge some of the lowest trading commissions in the industry.
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