These are the best penny stock trading sites for 2018. If you’re going to trade penny stocks, you’ll need an online penny stock broker. Overall, Ally Invest is the best choice for new and experienced penny stock traders alike. See summary table
Best Penny Stock Trading Sites
|
Penny Stock Broker |
Trading Platform |
Standard Trading Fee |
|---|---|---|
Here are the top choices for penny stock trading sites based on minimum deposit amounts, customer services, and quality of trading platforms.
Best Overall Penny Stock Trading Site
Bottom Line
Ally is disrupting the online brokerage industry. Their fees are low, their customer service is 24/7, and their the top choice for penny stock trading in 2019.
Ally also has very valuable promotions for active options traders: Up to $3,500 cash bonus + all new accounts receive 90 days of commission-free trades, up to $500 in value.
See the full Ally Invest review.
Bottom Line
TradeStation caters to professional traders looking to gain an edge on the rest of the market. For penny stocks, TradeStation’s software is excellent and their pricing is reasonable. Customer service doesn’t run 24/7, however.
There are no available promotions: 🙁
See the full TradeStation review.
Bottom Line
Make no mistake, with TD Ameritrade, you’ll be paying the highest per-trade commissions in the industry. The high cost comes with excellent 24/7 customer service and powerful downloadable trading technology, however.
TD Ameritrade offers a nice promotion for penny stock traders: Trade Free for 60 Days + Get Up to $600 Cash
See the full TD Ameritrade Review.
Best Option for Non-US Residents
Bottom Line
If you’re based overseas and are not a US resident, SureTrader is one of the popular options for penny stock trading. There is a $2,000 minimum to sing up, but they offer decent pricing and trading technology.
Final Thoughts
Penny stocks are interesting. Lots of investors won’t touch penny stocks with a ten foot pole, but other investors, like Tim Sykes, have made multiple millions from the ultra low priced securities and swear that they’re easier to make money in than traditional blue-chip stocks.
There is definitely some merit to the idea that penny stocks offer more opportunity than regular priced stocks. Often times, penny stocks can fluctuate anywhere from 20% to 200% in a single day. Because penny stocks have such small market capitalizations, large buy or sell orders have a very significant impact.
It is important to remember that due to the increased volatility, it may be necessary to enter and exit penny stock trades much more frequently than you might think. Therefore, it is always wise to choose a penny stock trading site with the lowest fees and a platform that is very easy to use.
Finding Penny Stocks to Trade
Once you find out where to trade penny stocks, you’ll have to find penny stocks to trade.
This is another reason why we love Ally, because they offer free tools that allow traders to search for stocks with the largest daily percentage gains and losses.
This is an incredibly value tool for traders looking to find volatile stocks ripe for buying or selling. We recently highlighted four interesting penny stocks to buy in 2018.