Table of contents [Hide]
TradeStation offers one of the most comprehensive trading platforms of any broker on the market. Investors can trade penny stocks commission-free, so you can execute as many trades as you like without running up a large bill.
TradeStation also offers a wide range of investment offerings, such as forex, options, futures and even cryptocurrency.
2. TD Ameritrade
TD Ameritrade’s thinkorswim platform is considered amongst the best of any available online brokerage. As with most other platforms starting in 2020, trading stocks, including penny stocks, is absolutely commission-free .
When it comes to research options, TD Ameitrade is second-to-none. The brokerage’s stock screeners will make it very easy to find potential penny stocks that can yield large returns. Furthermore, the platform’s educational sections can help make you a master stock trader.
3. Interactive Brokers
Interactive Brokers tops the list for the lowest costs. Stock trading fees come in as low as $0.0035 to $0.005 per share based on volume. If you end up trading higher volumes you should choose flat rate fees instead.
One cool feature of Interactive Brokers is the addition of IBot. IBot works with Amazon’s Alexa and allows you to trade by voice command.
E-Trade gives you dual options to match your trading style. Its OptionsHouse app provides a companion program to its web-based platform. The app allows you to quickly find and execute trades on penny stocks. Advanced traders can view market depth ladders.
You could also choose the E-Trade mobile app. The robust app allows you to both trade stocks as well as manage your money. This makes it easy to move funds around to support your trades. The app lets you view Bloomberg TV, third-party research and breaking news.
Not too many apps allow you to trade for free. In fact, the only major one is Robinhood. This small startup made waves by letting retail investors trade stocks for free. You won’t be able to use this app to day trade or execute complex strategies. However, cutting out the commission fees on trading penny stocks can make the difference in profits and losses.
Mobile penny stock apps will only provide you with so much information. If you want to research a penny stock company spend time on the broker’s main website. Even if you plan to day trade penny stocks, the mobile apps should be a supplemental part of your strategy. Take time to sit down and develop a robust plan rather than relying entirely on the mobile app. The best way to use the mobile app is to execute trades at your specific price and monitor your positions.
Benzinga's #1 Breakout Stock Every Month
Looking for stocks that are about to breakout for gains of 10%, 15%, even 20% potentially or more? The only problem is finding these stocks takes hours per day. Fortunately, Benzinga's Breakout Opportunity Newsletter that could potentially break out each and every month. You can today with this special offer: