Hear about the penny stock broker with no minimum deposit like getting a free diamond. This type is very profitable for the user and it means you get two advantages at glance.
How come? Logically, a penny stock is a cheap stock under $1 but it potentially gives a big profit.
Then, you find the broker without a minimum deposit. What fantastic! Well, let’s reveal the best penny stockbroker without a minimum deposit immediately. Let’s discuss along with the tricks to pick it.
Penny Stock Broker With no Minimum Deposit for Beginners
Being a beginner in sharing always invites worries or confusion. Moreover, the stock is a penny stock which has a high risk. Besides that, the companies are small and often not popular.
Luckily, there are 6 penny stock brokers with no minimum deposit that is ready to dismiss your wavering. By the way, they are:
1. TD Ameritrade
TD Ameritrade includes the most reputable online brokers with no account minimums for clients. It is ideal for penny stock brokers with no minimum deposit as they charge a $6.95 fee per trade.
Even, with no surcharges on stocks under $1 so that making it more affordable to trade OTCBB and Pink Sheet stocks.
Thinkorswim and Trade Architect are two great trading platforms available to all customers. If you want to customize your necessity with the broker, use the robust charting tools.
There is free access to real-time quotes and level 2 for active day traders. Customer service is average, to lower costs they outsourced it to cheaper countries like India. For your note, do not have annoying inactivity or maintenance fees.
2. E-Trade
E-Trade is the best broker for trading penny stocks which is very good for short-selling shares under $5.
The broker comes with a flat fee commission structure without extra fees on penny stocks! For active traders, it provides discounts of $6.95 commission for less than 30 trades every quarter.
Also, make more than 30 trades and the fee drops to $4.95. In addition, S-Trade does not accept customers from certain countries which sucks for people in the UK. See also penny stocks broker no minimum deposit UK.
3. Ally Invest
Ally Invest is another penny stocks broker with no minimum deposit Formerly known as TradeKing. The broker asks $2,000 account minimum for margin accounts where it is profitable for people from short-selling companies.
Definitely, it is suitable for beginner traders new to stock trading and does not have much money to invest. With the low commissions, $4.95 per trade is very competitive within the brokerage industry.
Apparently, executing trades here uses the interface to make it faster and easier. Besides that, they charge a one-cent surcharge per share on stocks below $2.
Then, it regularly runs promotions for new customers. In fact, there is $500 worth of commission-free trades for clients who deposit $10,000. Trading platforms and tools indeed are not as advanced as the top online brokers but are improving slowly.
4. Robinhood
Robinhood becomes the best-known broker among millennials. It is because the broker offers commission-free trades to millions of people around the world.
Penny stocks are volatile so executions will be slower than the industry standard. Speed is crucial to make a consistently profitable trading, it is more suited to long-term investors.
Robinhood is great for first-time investors looking to gain experience and have fun indeed. Once more, this penny stocks broker with no minimum deposit has a beautiful and easy-to-navigate UI design.
5. TradeMonster
Introduce, TradeMonster is a subsidiary of OptionMonster. It is the company where the owner is Pete Najarian and Jon Najarian, well-known financial commentators.
OPtionMOnster company specializes in trading and setup TradeMonster to offer more diverse financial products to the market.
Fact, this parent company merged with OptionsHouse in 2005 and E-Trade take over. When you buy stocks from the broker, you will need a $0 account minimum to open a cash account.
Then, there is a $0.005 surcharge per share on stocks below $2. Indeed, it is not a good option for beginners but they need to know it.
6. Degiro
Degiro is a low-cost Dutch penny stocks broker with no minimum deposit, only available to European investors. The company asks to deposit an account minimum, of €0.01 during the verification process.
Seemly, the penny stocks broker for this pattern are still limited but they have ridiculously cheap fees.
For your information, Degiro has been a good choice for European traders as finding friendly penny share brokers is difficult. On the other hand, the majority of US brokers won’t accept clients from Europe or require a deposit of $10,000. One more benefit from Degiro is the compensation scheme protects deposits up to €20,000.
It turns out some brokers do not appropriate for beginners. Okay, that is no problem because the seniors also may use those brokers for their penny stocks.
3 Genius Tricks to Catch A Good Penny Stock Broker with no Minimum Deposit
Hopefully, you have been truly ready to take penny stocks and understand the risk which you may accept. It remembers that it is a speculative stock with a price of less than $25.
The most important thing that trading often emerges on OTC (over the counter). Besides those penny stocks brokers with no minimum deposit, absolutely, you will meet other companies. Unfortunately, not all of them are real and have a good purpose. Therefore, you should be careful while following 3 tricks below:
• Experience and Reputation
There is nothing more important than trading any sort of investment on the open market, especially trading penny stocks. Seemly, penny stocks experience the same market movements and volatility as blue-chip stocks, but to a greater degree.
So, succeed in your penny stock trading by knowing how to read the trends, conduct sufficient research and complete analysis. Alongside that, choose a broker that has the right environment for this type of trading.
• Cost
Be aware of the costs you incur toward investments you trade. Precisely, look for a broker with reasonable fees where the commissions must be always at a minimum in order to protect your profit margin.
However, the lowest-cost broker is not always the best choice. Consequently, so do not pick a broker based on the price alone. Just choose the penny broker with no minimum deposit.
• Customer Service
For your note, the broker must be able to serve to trade your stocks online, over the phone, or in person. They should provide a full-service broker to discuss trading strategies and offer sound advice to pick stocks.
Good discount brokers, usually offer it in the form of online tools, educational articles, and other learning materials instead of from a live person. Well, those are 6 penny stock brokers with no minimum deposit along with the tips. Be wise in making decisions because only those who are diligent, observant, and smart are fortunate with this trade. Good luck!