Top 10 Penny Stock Trading Sites Ranked by Reputation

Penny Stock Trading Sites

Finding reliable penny stock trading sites should be approached with the same vigor as finding a good doctor or a hairdresser, like your life depends on it! Today there are hundreds of online penny stock trading sites offering many securities trading services at competitive pricing. How do you decide what is the best for you? Well, the answer lies in defining what is important for you, what your trading budget is, how often you are planning on trading and how large your trading volumes will be. Deciding on which penny stock trading sites to go for is like matching pieces of a large jigsaw puzzle, but once you find it, the light will go off. Forbes recommends looking at various parameters in terms of minimum account balances, trading volumes and transaction fees as a basis.

1. Trade Monster is one of the trust worthiest among many other online penny stock brokers. With a $2,000 account minimum and $7.50 transaction fee, Trade Monster offers some of the best research tools on the market. The service is perhaps best suited for intermediate to advanced traders with higher stock volume operations rather than startup penny stock investors.

2. Choice Trade is hands down the most budget friendly option when in comes to penny stock trading sites offering no account minimum balances and only $5 standard commission rates per transaction. This online broker is the ideal choice for many penny stock traders.

3. First Trade is another highly regarded choice among penny stock trading sites allowing you to acquire top penny stocks at a standard commission rate of $6.95. With extremely low account minimum requirements of $26.95 and an option for broker assisted transactions, you will be trading in no time.

4. T. Rowe Price is among the priciest penny stock trading sites that offers a ton of services to match its hefty fees. Their standard commissions will ring you up $19.99; even active traders will have to pay a minimum of $9.95. With broker assistance, be ready to shell out $30. However, T. Rowe Price’s research platform allows investors to trade a variety of securities, including precious metals.

5. MB Trading caters to penny stock traders of all levels: budding newbies will find MBT Light Wave extremely helpful and seasoned gurus will love MBT Desktop Pro and all of its fantastic bells and whistles. With only $1,000 in minimum account balances and extremely budget friendly $4.95 transaction fees, everybody is a winner.

6. Scottrade is a winning combination among top penny stock brokerage firms because in line with its extremely user friendly online platform, investors can choose to visit over 500 physical locations across the country to talk to actual people. No minimum account balances combined with no frill $7 transaction fees and the lowest on the market broker assisted selections of only $27 are sure to win the spot on your top penny stock trading sites list.

7. Trade King is by far one of the most budget friendly penny stock trading sites out there with only $4.95 transaction fees and zero account balance requirements. Historically, Trade King had been known for futures and options trading, however now it offers a wide array of securities for its customers.

8. TD Ameritrade will help you acquire a large array of securities including selections of your NASDAQ penny stock list and others. Though they have a large account minimum requirement of $2,000 and higher than average $9.99 per trade commissions, their research platform is fantastic and makes it all worth it.

9. E*Trade is on top of its game with over 500,000 happy customers, average transaction fees of $9.99 and small $500 account minimum balance requirements. E*Trade’s mobile app is one of the coolest features allowing you to trade whenever you are.

10. Interactive Brokers are among premier penny stock trading sites and a nearly perfect platform for experienced penny stock traders. Their commission pricing is based on a commission per traded method. Trading 1 stock will cost you anywhere from $0.001-$0.35 and with a minimum balance of $2,000, it allows you to significantly cut penny stock risks.

Want to learn more on how to buy penny stocks, check out this article on our website.