What is The Best Penny Stock Broker?
Evening Penny Stock Traders,
The one question I get asked most often is “What is the best penny stock broker” and what are their costs per trade.
Selecting the best broker is critical when you want to trade penny stocks; especially the penny stocks we trade which are from $.001 to $5.00 in price. The main issues many of you run into are “extra fees” that they tie on for stocks under $.10 cents for example. If you want to buy 50,000 shares of a $.10 cent stock you could end up paying $80 to $100 on commission fees if you have the wrong broker. So which broker is “penny stock friendly?” Also, which broker will allow me to actually TRADE these penny stocks online without having to call in my order or for that matter without rejecting my order because they think they are doing me a favor by not letting me buy a “volatile” stock. I mean, isn’t “volatility” what we are after anyway? Who wants to buy a stock that only has the potential to rise 2% in a month? I would rather play the penny stocks that can jump 500% in a matter or hours; just like one of our alerts in the chat room did today. Nothing wrong with banking 145% in a matter of a few hours right.
So, which brokers should you be looking at when you want to trade penny stocks?
I would start with Etrade and the reason why is simple. They have a very good “flat fee” commission which is only $9.99 OR $7.99 if you are a active trader; per trade. They don’t add on extra fees for every 1,000 shares over 10,000 for example like some brokers do.
Etrade also has whats called “Etrade Pro” and this is a software program that has a level 2 (Market Depth) a charting program, a live streaming scanner with custom features, live TV, streaming news, quotes and a whole lot more. Assuming you are somewhat active, they will give this to you for free!
Charles Schwab is another broker I would recommend taking a look at. Now I have not been with Schwab in many years but I hear they are very good now for penny stocks. They don’t “restrict” penny stocks like Ameritrade does for example, they let you trade the stock you want just like Etrade does. Their commission is also a “flat fee” and I believe it is similar to Etrade at $9.99 or $7.99
Those are my top 2 penny stock brokers and I would look strongly in to them if you are serious about making big money in the penny stock markets.
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