If you want to start with penny stock trading, shopping around for a good broker is a must. Fortunately, you’ll find a pretty large number of stockbrokers to pick from; it’ll be up to you to make the right choice.
Unsurprisingly, many of these firms aren’t delivering their services as you’d want it.
That’s why shopping for the right one to help with your investment becomes so crucial as you’re taking some steps forwards to start with stock trading.
One of the most important things you’ll have to look for besides whether or not a broker is penny stocks friendly is the fees.
Commission fees may look insignificant with your first glance at them, but once you start trading they rapidly give a different look. The few couples of dollars you saw do add up as you’re day trading.
It becomes crucial you pick the right stockbroker as this decision will have a significant effect on your portfolio as a penny stock day trader.
For this reason, a stock brokerage with no commission fees should be ideal for you for penny stock trading.
I’ve come up with the following brokerage firms with no commission fees to help you with your research.
TradeStation is a well-recognized broker for penny stock traders. But many people are concerned with its tools.
If you’re a beginner it may not be your best pick as their educational side isn’t as powerful as it should for new traders.
Nevertheless, it’s still one of the brokers that you can count on when you’re looking to invest in penny stocks and not have to spend any more money in fees.
At TradeStation, we believe in empowering traders to claim their financial edge. Whether you are new to trading or a seasoned professional, through a full suite of powerful trading technology, online brokerage services, and trading education, we are committed to empowering you to unlock your trading and investor potential.
Robinhood sees it in its advantage to adapt to the technology as quickly as possible because many investors will soon spend more time on their smart mobiles than having to glue on a chair in front of a PC.
Another interesting thing about Robinhood, they have an active promotion going on right now.