Best Online Penny Stock Brokers - Top 3

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Author: Mike Singh

Author: Mike Singh

Trading penny stocks as you probably know can be very profitable. It all starts with doing due diligence, opening a position or making the buy/sell trade and then closing the position (carrying out the opposite trade). If all goes according to plan, you will end up pocketing a tidy profit. It all sounds simple doesn't it. Of course it isn't. While making your penny stock picks, you have to screen the right ones according to your filters, carry out extensive research before you settle on a good stock and a price range for it. Once all this is in place you place the order with the broker. This is where we think the right broker makes all the difference. The right penny broker will give you the speed, reliability, support at a reasonable cost (commission).There are three penny stock brokers who I have worked with or have heard several good reviews about. These in no particular order are:1) LowTradesThis discount broker offers fast execution trades at low commissions. How you ask? It offers the bare minimum services needed to function as a discount broker. At $4.95 per trade, there aren't many bells and whistles here. I like this broker because I get what I want and don't have to pay an arm and a leg for it. But, there is one thing I don't like - the inactivity fee. You have to make a trade every six months to avoid this fee. That's not likely something you will encounter because more than likely when you're trading penny stocks you will be trading more often than 6 months. The good part is that they don't have a minimum account balance and they do offer real time streaming quotes (at a small additional fee).2) ScottradeScottrade is another discount broker in the growing list of brokers. This broker is great for trading penny stocks because of its commission structure. That is of course once you understand the structure. It can seem a little complicated and we would recommend looking at the details before you hop onto this bandwagon. There is a minimum account balance requirement of $500 but the good news is that unlike LowTrades you don't have an inactivity fee.3) ZeccoZecco has made great strides in the penny stock brokerage category. They offer 10 free trades per month if you have more than $25000 in your account or make more than 25 trades per month. If your account isn't that large or you trade less frequently you still get a great deal of $4.50 per trade. While they dont have minimum account balances the best deal is when you carry out more than 25 trades a month for the 10 free trades. Otherwise, it is still a pretty great deal. They have a quick signup process and are a great place to learn the ropes.
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To find out more on how to pick the right broker visit --> http://www.brokerpennystock.com/ Good luck in picking the best broker for penny stock trading. - Michael

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