Best of

Best Brokers for Penny Stock Trading 2019

Arielle O'SheaMay 28, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Our pick for

Best overall

E-Trade

on E-Trade's website

on E-Trade's website

Fees

$6.95

per trade

Account Minimum

$500

Promotion

Up to $600

cash credit with a qualifying deposit

Pros

  • Easy-to-use tools.
  • Large investment selection.
  • Excellent customer support.
  • Access to extensive research.
  • Advanced mobile app.
  • Reduced commissions for frequent traders.

Cons

  • Higher commissions for low-volume traders.
  • Minimum balance requirement for active trading platform.
Read full review

Our pick for

Trading platform, no account minimum

TD Ameritrade

on TD Ameritrade's website

on TD Ameritrade's website

Fees

$6.95

per trade

Account Minimum

$0

Promotion

60

days of commission-free trades with qualifying deposit

Pros

  • Large investment selection.
  • Free research.
  • High-quality trading platforms.
  • No account minimum.
  • Good customer support.

Cons

  • Higher trade commission.
  • Costly broker-assisted trades.
  • High short-term ETF trading fee.
Read full review

Our pick for

No account minimum, best overall

Fees

$4.95

per trade

Account Minimum

$0

Promotion

$100

cash bonus with a qualifying deposit

Pros

  • No inactivity fees.
  • Two platforms with no minimum or fees.
  • Above-average mobile app.
  • Extensive research.
  • Strong customer support.

Cons

  • Higher trade commissions.
Read full review

Our picks for

Low costs

Interactive Brokers

on Interactive Brokers's website

on Interactive Brokers's website

Fees

$0.01

per share

Account Minimum

$0

Promotion

None

No promotion available at this time

Pros

  • Low commissions.
  • Quality trading platform.
  • Advanced tools.
  • Low margin rates.
  • Wide investment selection.

Cons

  • Inactivity fees.
  • Complex pricing.
  • Minimal educational resources.
Read full review
Zacks Trade

on Zacks Trade's website

on Zacks Trade's website

Fees

$0.01

per share

Account Minimum

$2,500

Promotion

$1

minimum trade cost

Pros

  • Ample research offerings.
  • Robust trading platform.
  • Access to international exchanges.

Cons

  • Trails Interactive Brokers on commissions.
Read full review

Our pick for

Trading platform

Fees

$5.00

per trade

Account Minimum

$500

Promotion

None

No promotion available at this time

Pros

  • High-quality trading platforms.
  • Comprehensive research.
  • Low commissions.
  • Advanced tools.
  • Active trader community.

Cons

  • No commission-free ETFs.
  • Minimum balance requirement for active trading platform.
Read full review

Summary of Best Brokers for Penny Stock Trading 2019

BrokerCommissionsPromotionAccount MinimumLearn More
E-Trade Logo

E-Trade

on E-Trade's website

$6.95

per trade

Up to $600

cash credit with a qualifying deposit

$500

on E-Trade's website

TD Ameritrade Logo

TD Ameritrade

on TD Ameritrade's website

$6.95

per trade

60

days of commission-free trades with qualifying deposit

$0

on TD Ameritrade's website

Schwab Brokerage Logo

Schwab Brokerage

$4.95

per trade

$100

cash bonus with a qualifying deposit

$0

Read review
Interactive Brokers Logo

Interactive Brokers

on Interactive Brokers's website

$0.01

per share

None

No promotion available at this time

$0

on Interactive Brokers's website

Zacks Trade Logo

Zacks Trade

on Zacks Trade's website

$0.01

per share

$1

minimum trade cost

$2,500

on Zacks Trade's website

TradeStation Logo

TradeStation

$5.00

per trade

None

No promotion available at this time

$500

Read review
BrokerCommissionsPromotionAccount MinimumLearn More
E-Trade Logo

E-Trade

on E-Trade's website

$6.95

per trade

Up to $600

cash credit with a qualifying deposit

$500

on E-Trade's website

TD Ameritrade Logo

TD Ameritrade

on TD Ameritrade's website

$6.95

per trade

60

days of commission-free trades with qualifying deposit

$0

on TD Ameritrade's website

Schwab Brokerage Logo

Schwab Brokerage

$4.95

per trade

$100

cash bonus with a qualifying deposit

$0

Read review
Interactive Brokers Logo

Interactive Brokers

on Interactive Brokers's website

$0.01

per share

None

No promotion available at this time

$0

on Interactive Brokers's website

Zacks Trade Logo

Zacks Trade

on Zacks Trade's website

$0.01

per share

$1

minimum trade cost

$2,500

on Zacks Trade's website

TradeStation Logo

TradeStation

$5.00

per trade

None

No promotion available at this time

$500

Read review

If you’re still on the fence about penny stocks, learn more about some of your other investment options:

Jim Royal also contributed to this article.

Last updated on May 28, 2019

Methodology

NerdWallet's ratings for brokers and robo-advisors are weighted averages of several categories, including investment selection, customer support, account fees, account minimum, trading costs and more. Our survey of brokers and robo-advisors includes the largest U.S. providers by assets under management, plus notable and/or emerging players in the industry. Factors we consider, depending on the category, include advisory fees, branch access, user-facing technology, customer service and mobile features. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

To recap our selections...

NerdWallet's Best Brokers for Penny Stock Trading 2019