What is the Best Broker for Penny Stocks in 2018?


Wondering is the best broker for penny stocks? Out of all of the online stock brokers, determining which stock broker is the best for penny stocks is no easy task. We have researched over 15 online stock brokers in the US and determined which brokers are the best for penny stock trading based on fees, platform functionality, and customer service.

First of all, not every online stock broker offers penny stock trading. Due to the highly volatile nature of penny stocks, some brokers forbid clients from trading them. All of these brokers permit trading of low-priced stocks.

List of penny stock brokers for 2018

 List of Brokers for Penny Stocks in 2018


Stock Trade fee

Account minimum

Ally Invest












TD Ameritrade



Interactive Brokers

$0.004 / share


Best Broker for Penny Stocks Overall

GET STARTEDon Ally Invest’s site

Overall, Ally Invest is the best broker to trade penny stocks. They have the lowest fees, customer service that runs 24/7, and no inactivity fees or software/market data fees.

Ally is currently offering a pretty valuable signup bonus for new accounts: Up to $3,500 cash bonus + commission free trades for new accounts. Learn More.

Best for Trading Platform

GET STARTEDon SpeedTrader’s site

Although the minimum deposit required to open an account is a shockingly steep $30,000, SpeedTrader unquestionably caters to an elite level of traders and provides top-notch services to match.

SpeedTrader provides direct market access and excellent trading software for penny stock trading, but it costs $100+ per month.

Best for Non US Residents

GET STARTEDon SureTrader’s site

SureTrader doesn’t accept clients from the US, but for traders based in Europe or Asia, SureTrader offers competitive penny stock pricing and a decent downloadable trading platform.

One thing to know is that SureTrader is based in the Bahamas, so they’re aren’t regulated by FINRA and the SEC; although this means you can day trade penny stocks with less than $25,000, it also means SureTrader isn’t regulated.

Best for Low Cost & Customer service

GET STARTEDon Ally Invest’s site

In terms of cost and customer service, Ally edges out every other penny stock broker for 2018. Ally doesn’t charge any inactivity or maintenance fees to have an account, and there is no charge for level II market data.

Additionally, customer service runs 24 hours a day, seven days a week, so support is always a phone call or live chat away.

Overall, it’s tough to go awry by using a broker to trade penny stocks that doesn’t charge account maintenance fees, has very low per-trade pricing, and has helpful 24/7 customer service.

As such, Ally Invest is the best broker for penny stock trading in 2018.

What to Look for in a Penny Stock Broker

Penny stocks, which are commonly referred to as OTC (over the counter) stocks, are unlike regular stocks that trade on the NYSE and Nasdaq.

Penny stocks often have higher margin requirements for shorting or long leveraged positions. This is something to be aware of when trading, Moreover, many brokers impose restrictions on the number of the number of shares that a you can trade in oner order.

For penny stocks, per-share pricing is basically useless. In order to buy/sell penny stocks, you’ll often have to trade tens of thousands of shares at a time, and this is extremely costly with brokers that charge for every share. This is a prime example why Ally is one of the best penny stock brokers, because there is no limit on the number of shares you can trade in one order.

Final Thoughts

We repeatedly emphasize that one of the most important rules in trading is to keep your transaction costs as low as possible. More money spent on costly trading commissions = money that you could have saved if you opted to trade with a lower-cost broker.

cool good eh love2 cute confused notgood numb disgusting fail