The Best Broker For Penny Stocks
Trading penny stocks or OTC stocks is a different animal than “normal” stocks.
It also requires a different kind of broker. Some online brokers are more geared towards the penny stock trader than others. Little details in how the broker calculates commission can make a HUGE difference when buying millions of shares.
The biggest requirement of a penny stock broker is that you don’t get screwed for buying millions of shares (which you often do when buying the best penny stocks).
The second requirement is fast execution of your trades.
Looking at those factors, there is one clear winner of the discount brokers that is good for the penny trader….Zecco
If you haven’t heard of Zecco before, where have you been? No, it’s OK. They are a fairly new company, but word is starting to get out about them.
My Recommendation For Penny Stock Trading
Hands down. Zecco. Account setup takes 10 minutes, no paperwork to do, completely online.
Why This Penny Stock Broker?
- No minimum deposit.
- Easy 10 minute online sign-up
- $4.50 for 1,000 shares. $4.50 for 1,000,000 shares. Same Price. Boom.
- Slick interface, nice social features
- 10 Free trades a month with $2,500 min. balance.
- I use them! So should you…
{ 4 comments… read them below or add one }
Can you enter a limit order down to the $0.0001 on ANY exchange? My current broker only allows these extra fine limit orders on NASDAQ and OTC, not AMEX or NYSE
Hello,
I live in Canada, could I use Zecco as my broker, to buy and sell penny stocks?
Thanks,
Dirk de Vries
Hey it doesn’t matter where you live if you have access to the internet. You could use Zecco from the moon if you could get online. Be careful not to gamble with money you cannot afford to lose though. Penny stocks are extremely risky and the majority of people lose all their money. If you’re not going to do a lot of research (or even if you are) on which stocks you buy it is similar to going to the casino. Although you do hear of random success stories where someone bought a penny stock and made a fortune in one night. If you have money to lose, are young and can take the likely possiblity that you will lose everything, go for it and good luck! Also the terms of Zecco accounts changed and to get the 10 free trades a month you have to maintain above 25,000, not 2500. Although each trade is still 4.50 which is much cheaper than many brokers. Hope this helps.
Having trouble with the broker I’m using. None of the penny stocks I’ve looked at seem to be available in pre-market extended hours trading via ArcaEx. If I wait till market open, the run up happens before I can execute an order and I miss it. Catch-22. Any advice on how to get into a penny stock before market open? Is that a function of broker limitations, or am I doing something wrong?