Penny Stock Broker Ratings Comparison
We have looked at a lot of penny stock brokers and there are three of them that stand
Zecco offers 10 free trades per month for those with more than $25000 in their account. If you carry out more than 25 trades in a month
you could also be eligible for this trade. The good part is that if you aren't eligible for the free trade you are still eligible for the $4.50
per trade. They have a easy and fast signup process. We think its a great place to get your feet wet in the world of penny stock trading.
If you are looking for a discount broker who has low commissions combined with fast execution, then look no further - LowTrades could be what
you're looking for. They offer all the services a discount brokerage should offer. They charge $4.95 per trade but there is an inactivity
fee. If you trade biannually or every six months you will not have to pay this fee. Otherwise you will need to pay $50 annually. We dont
expect you to run into this fee unless you are using LowTrades for a 'Buy, Hold And Pray' strategy instead of trading penny stocks. On the bright
side, they don't have a minimum balance required. If you are looking for some nicer features such as real-time streaming quotes you can get that
(at a small additional fee).
Nearly everyone is familiar with Scottrade as a discount broker. This is a great broker because its commission structure is ideally suited for
penny stock trading. The only problem is that their structure is a little complicated. You have to pay a flat fee and a small percentage of the
trade executed. Please refer to their website for crucial details. They have a account balance minimum of $500. But, they don't have an
inactivity fee so that's nice.
Have a look at the table below for a snapshot of other brokerage fees:
|| $4.50 or Free
|| $50 biannually
|| Large Order Charge - 100K+ shares, 1%
||Low Price Stock Fee - <$1, ½%
||Large Order Charge - 1,000+ shares, $0.025
||Low Price Stock Fee - <$1, ½%+
*** The above prices are subject to change anytime by the brokerage firms mentioned. Please read ALL the fine print on the brokerage website
before you make your decision.