Penny stocks are being a trending topic in a number of entrepreneurs. It offers a cheap share under $1 but it has a high risk for the investor. However, they result in increasing the value of their shares after using the best Penny stocks broker.
Besides that, you do not need to wait for having much money if you want to invest. Then, you can sell it at a large profit when the value increases by just a few cents. Will you follow them for this case? Use these 7 best brokers for Penny Stocks 2020.
2 Tips to choose Best Penny Stocks, Broker
A Broker comes as the way or tool to start your investment. Nowadays, there are many companies run in this field and they also serve online. You might want to see the best Penny Stocks broker as soon as possible. Even though, you also should know some information as the guidance to get the broker:
• Support Penny Stocks
In fact, not all stockbrokers do it. You must get a broker who is willing to trade outside the NYSE, NASDAQ, NASDAQ, or other exchange markets. Usually, penny shares trade on “pink sheets.” Board (OTCBB). Thus, the best broker to buy Penny Stocks must get OTCBB support if you want to trade it.
• Low cost
Generally, shares at a price of $ 60, $ 100, or $ 1,000, have a trading fee of $ 5. Actually, this includes a very small percentage. However, penny stocks can provide the value of hundreds of shares, or a large percentage of your total profits. In any stock, lower brokerage fees are always a good thing.
This tips really help you so that you should not skip it. Remember! One mistake can be fatal to the continuity of your business.
7 Recommendation Names for your Best Penny Stocks Broker
Robinhood became the first name that emerged as the best penny stocks broker. The reason is that this broker allows you to trade without fees. Robinhood is the best choice and most popular among investors.
Apart from being free of charge, this broker does not offer much support or resources which is a major weakness.
The company has launched a mobile-based online application and added a web version of their stock trading platform. Additionally, the Robinhood account is also safe and requires no fees.
2. Charles Schwab
Charles Schwab is a broker that gives access to OTCBB shares and Pink Sheet to account holders.
This is the next best choice for you after Robinhood even asking for a $ 4.95 reward per trade. It also offers in-depth research, as well as professional access to buy and sell stocks quickly.
Even, the Schwab mobile app helps you trade on the go.
3. Ally Invest
Ally Invest is an investment branch of the best online bank by the name of Ally. This best online broker to trade Penny Stocks provides a friendly and navy experience.
Ally offers a standard trading commission of $ 4.95, but a discount is available that makes it down to $ 3.95 per trade.
You can get this discount if you maintain an average daily balance of $ 100,000 + daily or trade at least 30 times per quarter.
Mobile and online trading systems from Ally offer an “investment education center” on how stocks and other investments work.
Through this broker, you will get an account supporting various shares. It is such as ETFs, bonds, mutual funds, foreign exchange, and futures.
So, you can trade anything or diversify your strategy. But, you have to get bearish on penny shares.
Etrade is one of the best Penny Stock broker options that offers access to various stocks. The company has a leading cellular trading application, web platform, and strong stock research resources.
Etrade was very helpful in placing a trading table on the trading floor of Wall Street.
Unfortunately, there is a big disadvantage from Etrade, which is the trade price of $ 6.95 which falls into the category of expensive discount brokers.
The price is a discounted result of trading 30 times or more per quarter.
TradeStation is a company that offers $ 5 trade. The company is an excellent platform for advanced and active traders.
Unbundled per-share price quotes will result in a better deal depending on your stock and volume of trade.
Certainly, this really helps you and other stock traders who want to add a few cents from their trading costs.
In addition, the best Penny Stocks broker has a desktop platform that is strong and prominent above the others. The mobile, desktop and web platforms make it easy to access your investment from anywhere.
But active penny stock traders are more suitable to use desktop platforms because they provide news, graphics, and trading at your fingertips.
Visit the TradeStation for more information such as prices and so on.
6. Interactive Broker
Interactive brokers put the price of trade starting at 0.5 cents per share. However, that is a minimum of $ 1 per share and a maximum of 1% of the trade value.
The reason is to save big money for penny stock traders. The best Penny stocks broker has a tiered price structure from USD $ 0.0035 to $ 0,0005 per share.
The price range comes from a minimum of 35 cents per trade and a maximum of 1% per order.
In fact, this pricing structure is very suitable for penny stock traders. In the meantime, you will get a low per-share fee but that does not mean this trading platform is of low quality.
Interactive Brokers has the best desktop, web and cellular trading platforms with newer IBot. You can buy and sell shares for free with Alexa or Facebook Messenger.
Get a $ 4.95 trade offer, access to the Pink Sheets, and some best research tools from Fidelity.
Research may be limited to penny stocks because Fidelity focuses more on education and empowering investors.
This last best Penny stocks broker here are high-quality brokers in terms of price, platform, and research.
The best broker who is a competitor from Schwab is more focused on retirement. Fidelity gives you access to Ned Davis, Thomson Reuters, McLean Capital Management, Recognia, and others for research purposes.
So, have you caught one name for your investment? Hopefully, the best Penny Stocks broker above really inspires you. So, you can take one broker as your best decision! Good luck!