How do you rate the best brokers to trade option if the choices are too many? When talking on the brokers, of course, you will not feel strange with the following names. Fidelity, ETrade, Ameritrade, Robinhood, Charles Schwab, and TradeStation are the famous brokers that help the investors so much. In the stock exchange, they appear as the best in current character. The best online stock brokers for options trading 2020 will attend here along with additional information. Pay attention to what will you get today to identify the best one for your trading.
7 Best Brokers to trade Option in Penny Stock
When a topic takes the brokerage to trade, it is never far from the penny stock. Moreover, those online brokers often help the investors to get and sell this under $1 stock. By the way, all of the names below are the best brokers to trade option:
1. Interactive Brokers
The first option of the best brokers to trade option is suitable for Forex and professional traders. Besides that, Interactive Brokers still supports the frequent traders of the different order types. Through this online broker, the investors may choose the minimum account of $0. This amount is for a cash account or a margin account with $2,000. On the other hands, it also gives the commission of $0.005 per share and a discount of the volume. You can get the commission for a minimum $1 and a maximum 0.5% of trade value.
2. Ally Investment
The second best brokers to trade option to invest in penny stock is Ally Investment. Both the Beginners and Active traders can use Ally to start trading with the low fees. With the minimum account of $0, you still get the commission of $4.95 where the volume discount available.
Fidelity also gives the same commission and minimum account. However, it is for IRAs and where some accounts may require a minimum opening balance of $2,500. It turns out this best online broker to trade penny stocks has a lot of benefits. The broker serves active traders, retirement investors, and premium research. Whoever selects it will get the low fees and no-transaction-fee mutual funds.
Online with the minimum account of $0, you get the commission of $5. It includes the flat rate until the closing costs. Tastyworks becomes the best option for traders Advanced and hands-on investors. It is also suitable for investors who look for competitive pricing relative to other brokerages.
5. TD Ameritrade
TD Ameritrade offers $6.95 of commission with $0 of minimum account. What does TD Ameritrade give for the penny stock trading? It turns out TD Ameritrade includes as the flexible broker for the beginner investors. Even, its flexibility is for advanced traders, and the investors who want portfolio-building advice.
Get one offering of the commission of $6.95 for fewer than 30 trades/quarter. Then, take a lot of benefits for the mobile traders and the traders looking for research and data. Besides that, it is suitable for the investors which search the retirement planning guidance.
Gatsby does not mention the commission. This last best brokers to trade option are suitable for the retail investors, traders new to options, social traders, and the millennial traders.
2 Easy Methods picking your Broker for Options Trading
Additional Information: 6 Familiar Terms that you should know before trading