Trading penny stocks can be a high-reward but high-risk way to grow your portfolio, which is why you need the right app. Whether you’re chasing breakout stocks under $5 or speculating on Over-the-Counter (OTC) shares, you need a trading platform with low fees, the right market access, and intuitive tools to execute your strategies.
These are the four best penny stock apps selected for their commissions, platform usability, account options, funding ease, and customer support. We also considered which brokers provide strong education for beginners getting started with low-priced equities.
How We Chose the Best Penny Stock Apps
Our recommendations follow a methodology tailored specifically for penny stock traders:
- Commission Structure: Overall trading costs for low-priced and OTC stocks
- Platform Usability: Mobile app design, charting tools, and order execution speed
- Account Options: Types of accounts offered, account minimums, and funding methods
- Customer Service: Access to timely support via chat, phone, or email
- Asset Coverage: OTC markets, low-priced equities, and additional assets like ETFs
- Educational Resources: Guides, webinars, and tools to help beginners understand penny stock risks
4 Best Penny Stock Apps
Whether you’re new to penny stocks or an experienced trader looking to upgrade your tools, these top-rated mobile apps give you the speed, access, and features you need to navigate this high-risk, high-reward corner of the market.
Interactive Brokers — Best Overall
- Best For:Active and Global TradersVIEW PROS & CONS:Securely through Interactive Brokers’ website
The IBKR Mobile app gives penny stock traders direct access to thousands of U.S. and international stocks, including many OTC shares, right from their phone or tablet. Its real-time streaming data, customizable alerts, and advanced charting make it a standout for traders who need precision on the go.
Unlike many apps that strip down features, IBKR Mobile mirrors much of the functionality of the powerful desktop Trader Workstation. Traders can monitor watchlists, place complex orders, and manage multiple accounts all while paying some of the lowest commissions in the industry, starting at $0.005/share.
Key Features:
- Commissions from $0.005/share
- Access to OTC and sub-$5 stocks
- Advanced desktop and mobile tools
- No minimum deposit for IBKR Lite
- 24/5 customer support
TradeStation — Best Mobile App for Advanced Charting and Order Execution
TradeStation’s mobile app is built specifically for traders who want professional-level features on their phone. The app offers streaming Level II quotes, hotlists for penny stocks, customizable chart studies, and advanced order types which are critical tools for timing quick moves in low-priced stocks.
What sets TradeStation’s app apart is its transition between desktop and mobile: You can build watchlists or set alerts on your desktop, and they sync instantly to your phone. This integration helps active traders keep up with volatile penny stocks no matter where they are.
Key Features:
- Professional charting tools with drawing and indicators
- Streaming Level II data in-app
- Synchronized watchlists across desktop and mobile
- Direct market access for faster executions
- OTC stock support for broader penny stock exposure
E*TRADE — Best for Beginners
E*TRADE’s mobile app stands out for its intuitive design and ease of use, which is perfect for newer penny stock traders who want tools without feeling overwhelmed. The app offers customizable dashboards, real-time quotes, interactive charts, and quick order entry, allowing you to act quickly on penny stock breakouts.
E*TRADE’s mobile platform also includes integrated educational content, making it easy to learn strategies while monitoring your positions. Combined with commission-free trading on many U.S.-listed penny stocks, it’s a strong choice for beginners.
Key Features:
- Commission-free trades on many U.S.-listed penny stocks
- Clean, easy-to-navigate mobile app
- Access to OTC markets through broker assistance
- Educational tools for new traders
- 24/7 customer service
Charles Schwab — Best for Integrated Banking and Investing
- Best For:Fund InvestingVIEW PROS & CONS:securely through Charles Schwab's website
Charles Schwab’s mobile app is ideal for traders who want to manage penny stocks alongside their broader financial life. The app allows you to trade many sub-$5 U.S.-listed stocks commission-free, monitor positions with customizable alerts, and integrate accounts with Schwab checking and savings for quick and easy transfers.
The Schwab Mobile app also includes solid research tools, live CNBC video streams, and educational resources, making it a reliable option for traders who value a balanced, full-service approach to investing and banking.
Key Features:
- Commission-free trades on U.S.-listed penny stocks
- Easy integration with Schwab banking products
- Solid research and third-party analysis
- Comprehensive web and mobile platforms
- 24/7 phone and chat support
Why App Choice Matters for Penny Stock Traders
Penny stocks can swing wildly in minutes, which means the ability to place fast, reliable trades from anywhere is essential. A strong mobile app with real-time data, customizable alerts, and easy order execution helps you stay ahead of sudden moves and take advantage of breakouts or reversals in low-priced stocks.
Beyond execution speed, your app’s costs matter just as much because high commissions can quickly erode profits, especially when you’re trading stocks with thin margins. Apps like Interactive Brokers and TradeStation stand out for low fees and powerful tools, while platforms like E*TRADE and Charles Schwab offer more approachable designs for those new to penny stocks.
Finally, good customer support directly from your app can make a big difference if something goes wrong or you need help quickly. Fast, knowledgeable assistance reduces the chances of small technical issues turning into big financial losses and gives you peace of mind while trading volatile penny stocks.
Trade Penny Stocks with Confidence
Trading penny stocks successfully requires more than just instinct, it takes a mobile app that fits your experience level and trading style. Interactive Brokers provides advanced tools at the lowest cost, TradeStation delivers professional-grade features for active traders, E*TRADE combines simplicity with functionality, and Charles Schwab offers a reliable, full-service experience. Choose the app that matches your needs, and you’ll be ready to navigate the unique risks and opportunities of penny stock trading with confidence.
Frequently Asked Questions
What is the best app for beginners trading penny stocks?
E*TRADE’s intuitive mobile app is ideal for beginners, offering easy order placement, educational content, and commission-free trades on many penny stocks.
Can I trade OTC penny stocks on mobile apps?
Yes, apps like Interactive Brokers and TradeStation support many OTC stocks, but always check which specific OTC markets are included before opening an account.
Are penny stock apps safe to use?
Reputable apps like those from Interactive Brokers, TradeStation, E*TRADE, and Charles Schwab are regulated, secure, and use encryption to protect your personal and financial data.
