7 Best Penny Stocks Trading Apps & Brokers

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Best Penny Stock Trading Apps
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Getting started with your penny stocks trading journey presents a lot of things to consider. You have to sit back and think about which penny stocks to trade, how to trade, and much more. Most importantly, you have to think about the trading applications should you choose for your trading. In this article we will compare the best penny stocks trading apps to pick the best so you don’t have to.

Thankfully, the advent of FinTech has made trading easy for traders. Whether you are a stock trader or a penny stocks trader, many brokerage firms offer quality applications for a seamless trading experience. 

As finding a quality penny stocks broker that also offers a quality penny stock trading app is a difficult task, we decided to help you out. Thus, we reviewed multiple penny stockbrokers and their applications to compile a list of the best. 

So, let’s take a look at our roundup of the best penny stocks trading apps and brokers. Truly, we are confident that our list will help you find the best penny stocks broker with a remarkable application. 

What you'll discover in this article ++ show ++

The best penny stocks trading apps and brokers

  1. TradeStation
  2. Fidelity
  3. TD Ameritrade
  4. Charles Schwab 
  5. E*TRADE
  6. Interactive Brokers
  7. Robinhood

1. TradeStation 

TradeStation trading app is one of the best stock market apps in general and penny stock trading apps in particular. It offers all features that active traders require in addition to exceptional features for penny stocks traders. Even if you are a novice sailor, the app is easy to navigate. Moreover, TradeStation offers an award-winning penny stock trading platform named TradeStation Platform for traders using desktops. The platform allows you to develop, test, optimize, monitor, and also automate your trading strategies. Additionally, the broker also offers various other enticing features. 

Main Features

  • TradeStation offers web-based, desktop, and mobile versions of the platform. They enable you to trade in the way you want.
  • The feature-rich penny stocks trading app puts the power of TradeStation in your mobile device. 
  • You can easily synchronize your account and analyze your trading positions, even on the go.
  • Additionally, core features like Hot Lists, Quotes, and the Matrix make penny stocks trading as easy as breathing. The platform also ensures impressive reliability and speed in terms of order execution.
  • If you need the depth to make informed trading decisions, the platform also provides access to a huge historical database.

Account Minimum 

TradeStation requires an account minimum of $500.

Pairs Offered 

TradeStation offers thousands of penny stocks priced above 10 cents for trading. Furthermore, over 15,000 OTC stocks are available for trading on TradeStation. 

Fees

TradeStation also charges $0 commission on penny stock trades. 

Best For

TradeStation is best for features like commission-free penny stocks trading, a powerful mobile app, and a number of penny stocks available. 

Regulation 

TradeStation is also a highly regulated platform regulated by;

  • The Securities and Exchange Commission (SEC)
  • The Financial Industry Regulatory Authority (FINRA)

Funding Methods

TradeStation also supports smart transfers, wire transfers, checks, and electronic transfers. 

Pros

  • A collection of trading platforms
  • Powerful mobile application with remarkable tools
  • User-friendly interface
  • Comprehensive research
  • Active trader community

Cons

  • Higher account minimum

2. Fidelity Investments 

Fidelity is another top-class penny stocks broker with a longstanding history. The platform offers a wide variety of financial services besides offering an exceptional trading platform and powerful tools. Therefore, it is a perfect platform for penny stocks traders. Furthermore, Fidelity Investments offers exquisite mobile applications. They can handle almost all your trading needs besides making penny stocks trading effortless. Fidelity Spire is one of the applications that also guide you in your trading and saving goals. Additionally, Fidelity Investments offers various other features to make your trading endeavor enjoyable and seamless. 

Main Features

  • Fidelity Investments offers mobile applications for android devices as well as iOS devices. In fact, you have an application for your Apple Watch.
  • Fidelity Spire is another application that handles all your planning, trading, and saving needs in one place.
  • Additionally, the Google Assistant application empowers you to monitor your portfolios. You can get quotes as well as updates on your trading positions.
  • On the other hand, Active Trader Pro is your penny stocks trading platform when using a desktop computer. It is also a powerful and feature-rich platform for penny stocks trading. 

Account Minimum 

Fidelity Investments doesn’t require any minimum initial investment. 

Pairs Offered 

Fidelity Investments offers all stocks listed on the US stock exchange for trading. Furthermore, you can also trade on numerous penny stocks, IPOs, and other equities as well.

Fees

Fidelity Investments charges no commission for penny stock trades.

Best For

Fidelity Investments is best for offering the Active Trader Pro platform, a collection of mobile apps, and commission-free stock trading. 

Regulation

The Financial Conduct Authority (FCA) regulates Fidelity Investments.

Funding Methods 

Fidelity Investments also supports multiple funding methods, for example, electronic bank transfer, wire transfer, checks, and electronic wallets.

Pros

  • Robust Active Trader Pro trading platform with some exceptional tools
  • Mobile apps for all types of devices and operating systems
  • Applications with user-friendly 
  • Latest research and analysis access
  • Commission-free penny stock trading

Cons

  • High margin fees
  • Credit/debit cards are not accepted
  • Difficult to navigate website when using desktop or laptops

3. TD Ameritrade 

Another penny stock broker that offers a streamlined mobile trading experience is TD Ameritrade. It provides you with different platform options to choose from. For example, desktop, web, and mobile platforms are there to help you. TD Ameritrade mobile app is one of the best penny stocks trading apps as it grants you access to all the essentials you need for trading. Web platforms also allow you access powerful tools from wherever you are with internet access. Besides, the Thinkorswim desktop platform is a feature-rich stock trading platform with some unique trading tools. Additionally, TD Ameritrade undoubtedly makes penny stock trading interesting as well as confident with several remarkable features.

Main Features

  • TD Ameritrade offers device-optimized mobile applications that allow you to trade stocks on the go. In fact, you have a mobile application for any device of your choice including tablets, mobiles, and Apple Watch. 
  • The mobile application also offers some innovative features. For example, it brings features like real-time quotes, price alerts, a watch list, etc.
  • Web platforms allow you access to some astonishing technical analysis tools. Moreover, planning tools, educational resources, and third-party researches are also extremely helpful in penny stocks trading. 
  • You can also stay updated with the latest market news from Yahoo Finance in the customizable Dock.
  • Thinkorswim platform also promises elite-level tools, powerful market scanners, and monitor risk/reward. Furthermore, you can also make penny stocks trading effortless with multiple other enticing features. 

Account Minimum 

TD Ameritrade also has no account minimum requirements. 

Pairs Offered 

TD Ameritrade also offers various domestic penny stocks and initial public offerings (IPOs) for penny stocks trading. QX, QB, and Pink Sheet stocks are available for trading on the platform. Additionally, the broker also offers some Grey Market securities for trading as well. 

Fees

TD Ameritrade also charges a high commission. You will have to pay a $6.95 per trade commission on penny stocks trades. 

Best For

TD Ameritrade is best for a collection of powerful stock trading platforms, exquisite mobile apps, and exceptional tools.

Regulation 

TD Ameritrade is also a highly regulated penny stocks trading platform that is regulated by;

  • Financial Conduct Authority (FCA)
  • Securities Futures Commission (SFC)
  • The Commodities Futures Trading Commission (CFTC)
  • The Monetary Authority of Singapore (MAS)
  • The Investment Industry Regulatory Organization of Canada (IIROC).

Funding Methods 

TD Ameritrade also supports numerous funding methods. You can use either the electronic bank transfer, wire transfer, checks, or account transfer from another firm as funding methods.

Pros

  • A collection of powerful trading platform
  • An exquisite and easy-to-use mobile app 
  • Latest market news from Yahoo Finance 
  • Excellent selection of penny stocks for trading 

Cons

  • Doesn’t allow credit/debit cards transfers
  • High commission on penny stocks trading 

4. Charles Schwab 

Charles Schwab is another one of the top penny stocks brokers. Its penny stocks trading app is also a great asset for traders looking for an ultimate application. In fact, the Charles Schwab app is designed to help traders monitor trading opportunities and place trades with ease. Furthermore, the broker provides excellent stock research and analysis tools. Moreover, Charles Schwab also gives you a wonderful opportunity to trade penny stocks the way you want on the platform you want. Because Schwab.com and StreetSmart Edge are both feature-rich stock trading platforms with user-friendly interfaces. Additionally, the broker also lets you get your hands on the following key features. 

Main Features

  • The mobile app is available for all sorts of devices and operating systems. You can easily stay on top of the market as it is a powerful app with all the necessary tools and features. 
  • You can get real-time market data and breaking news through your app besides enjoying remarkable features. Moreover, interactive charts also help you search for the best penny stocks for trading. 
  • Additionally, the mobile app offers the ultimate security as you can keep your account safe with fingerprint and facial recognition. 
  • Exquisite stock research and powerful trading tools help you in stock analysis. They also guide you in finding the best penny stocks for trading. 
  • Advanced screeners and Schwab Stock Lists also make your stock finding quest seamless. Hence, you can find new ideas, compare different stocks, and also customize search criteria using these innovative tools.
  • Third-party researches and commentaries from Market Edge, Morningstar, Credit Suisse, and Briefing.com also help you evaluate stocks.
  • In addition to penny stock trading, intuitive All-in-One Trade Ticket tools make stock, ETF, and options trading effortless. Gain/Loss Analyzer also helps you analyze your trading performance. 

Account Minimum 

Charles Schwab also doesn’t require any account minimum. 

Pairs Offered 

Charles Schwab offers a multitude of penny stocks for trading. In fact, the Charles Schwab stock Screener displays over 6,000 over-the-counter stocks (OTCs) and initial public offerings (IPOs). 

Fees

Charles Schwab charges $6.95 per trade commission on online penny stock trades.

Best For

Charles Schwab is best for its powerful trading platforms, intuitive mobile app, and also for extensive US penny stock offerings.

Regulation 

Charles Schwab is also regulated by;

  • Securities and Exchange Commission (SEC)
  • Financial Industry Regulatory Authority (FINRA)
  • Commodity Futures Trading Commission (CFTC)

Funding Methods 

Charles Schwab supports multiple funding methods, for example, bank transfers, checks, and electronic wallets. 

Pros

  • Offers more than 6,000 penny stocks for trading
  • Powerful platforms and trading tool
  • Exquisite mobile application
  • Excellent customer support services

Cons

  • High penny stocks brokerage commission
  • Doesn’t support credit/debit cards as well

5. E*TRADE

E*TRADE is another popular penny stocks broker. It offers two mobile applications for traders. The first one is the E*TRADE Mobile app is the best choice for traders looking for a mobile-only experience. The app is extremely useful as it offers numerous key features required for penny stocks trading. On the other hand, the Power E*TRADE app is the second app. It is also a feature-rich app that accompanies numerous key features. Furthermore, the broker’s innovative Power E*TRADE platform is also packed with the latest tools for penny stock trading. You also have access to the latest researches, trading strategies, and much more. E*TRADE is a unique broker because it offers various unique features. 

Main Features

  • E*TRADE Mobile app perfectly runs on all types of devices including the Apple Watch. You can also handle activities like Transfer Money using the app.
  • Power E*TRADE is the second application that is also loaded with numerous top-quality features. For example, streaming quotes help you analyze market movements. 
  • Power E*TRADE is also among the very best, efficient, and robust online stock trading platforms. It brings various top-quality features that also help you in making the best penny stock trading decisions. 
  • The advanced charting tools with multiple indicators, chart types, and drawing tools also assist you in your technical analysis. 
  • Independent analyst research, market news, quotes, screeners, and even retirement planning also help you in taking control of your trading and financing. 

Account Minimum 

E*TRADE also doesn’t require any account minimum. 

Pairs Offered 

E*TRADE also offers numerous penny stocks both in the OTC marketplace and small companies quoted on exchanges.

Fees

E*TRADE also charges a $0 commission on penny stocks.

Best For

E*TRADE is the best for the intuitive platform, offering two mobile applications, and commission-free penny stocks trading. 

Regulation

E*TRADE is also regulated by;

  • Securities and Exchange Commission (SEC)
  • The Financial Industry Regulatory Authority (FINRA)

Funding Methods 

E*TRADE also supports various funding methods like bank transfer, wire transfer, and check deposits. 

Pros

  • Offers two applications to choose from 
  • Intuitive but user-friendly platform
  • Extensive research access
  • Exceptional customer support services
  • Commission-free penny stock trading 

Cons

  • Difficult to navigate website
  • Credit/debit cards are also not acceptable

6. Interactive Brokers 

Interactive Brokers is another stellar penny stocks broker. The broker also offers a fully responsive and powerful penny stocks trading app that does it all. That is to say, Interactive Brokers mobile app works just like its desktop trading platform. Additionally, the app brings some innovative tools, Order Entry Wheel for instance. Furthermore, the Trader Workstation platform is your penny stocks trading platform when using desktops. It is among the most efficient and top-class online stock trading platforms. Interactive Brokers also offers a suite of amazing features that make your penny stock trading simple but tremendously profitable. Moreover, if you want to take advantage of 100+ order types and complex algorithm trading, Interactive Brokers is for you.

Main Features

  • Trader Workstation mobile app is extremely powerful, with some great tools, and user-friendly. It also allows you to manage and trade penny stocks with ease from anywhere in the world.
  • The app is also a revolutionary one as it brings various intuitive, cutting-edge tools in the palm of your hand.
  • All its powerful but free trading tools help you in identifying profitable market opportunities. You can also analyze trading outputs and make informed trading decisions. 
  • Additionally, the Trader Workstation platform is one of the most powerful and feature-rich platforms. 
  • The broker also promises comprehensive reporting that leads you to easy transaction costs analysis, portfolio analysis, and more.
  • Backtesting, paper trading, IB Risk Navigator, advanced order and algorithms, simple orders, and much more make your trading simple, effortless, and enjoyable. 

Account Minimum 

Interactive Brokers also doesn’t require any account minimum for opening accounts on the platform. 

Pairs Offered 

Interactive Brokers also offers to trade on penny stocks of numerous companies. You can trade penny stocks both in the OTC marketplace and quoted on big stock exchanges. 

Fees

Interactive Brokers also offers commission-free trading on penny stocks through the IBKR Lite account. However, when using the IBKR Pro account, the platform charges $0.005 per share or 1% of trade value as commission.

Best For

Interactive Brokers is best for powerful and flexible trading platforms, powerful app, comprehensive reporting, and low commissions.

Regulation

In addition to exceptional features, Interactive Brokers is regulated by;

  • The Securities Exchange Commission (SEC)
  • The Commodity Futures Trading Commission (CFTC) in the US

Funding Methods 

Interactive Brokers also supports numerous funding methods. For example, wire transfers, checks, Automated Clearing House transfers, Canadian Electronic Funds Transfer, and BPAY (for Australian dollars only) are all supported by the platform. 

Pros

  • Feature-rich mobile app
  • Allows trading on stocks both in the OTC marketplace and quoted on big stock exchanges
  • Fractional share trading
  • Powerful trading platform and research tools
  • Superior order execution
  • Zero commission on IBKR Lite

Cons

  • The website is not user-friendly

7. Robinhood

Robinhood is another top-class penny stocks broker that offers a penny stock trading app worthy of your attention. It is not a broker for advanced traders seeking groundbreaking features. However, it is one of the ideal brokers for novices looking for basic tools and a great mobile app. Furthermore, the broker offers a variety of IPOs as well as fractional share trading opportunities. Robinhood offers various basic but top-notch features. 

Main features

  • Robinhood mobile app offers all the features you need to manage your account and portfolios.
  • You can also set up customized news and notifications to stay updated and make informed trading decisions. 
  • Additionally, the app offers a Cash Management tool to help you manage your daily money needs.
  • Furthermore, the broker also offers basic market research tools, real-time quotes, watchlists, and various other enticing features. 

Account Minimum 

Robinhood has no account minimum requirements. 

Pairs Offered 

Robinhood only offers penny stocks of companies listed on the New York Stock Exchange and NASDAQ.

Fees

Robinhood is a commission-free stock trading platform for penny stock trading. 

Best For

Robinhood is best for offering IPOs, fractional share trading, and quality customer support services. 

Regulation 

Robinhood is also a highly regulated platform that is regulated by;

  • The Securities and Exchange Commission (SEC)
  • The Financial Industry Regulatory Authority (FINRA)

Funding Methods 

Robinhood supports bank transfers and credit/debit cards as funding methods. 

Pros

  • Gives access to IPOs and fractional shares
  • User-friendly but powerful mobile application
  • Cash management feature

Cons

  • Offers limited penny stocks 
  • Mediocre advanced trading tools
  • Only suits beginners

Penny stocks trading app – FAQs

What makes a good penny stock trading app? 

There are several key factors that make a good penny stock trading app. You should look for the following factors before picking a penny stock trading app.

  • Cost – Keeping your cost low is instrumental in maximizing profits while minimizing losses. Therefore, you need to carefully consider costs. However, the good news is that many top-notch brokerage firms offer exquisite apps free of charge. 
  • Ease of use – A good penny stocks trading app is one that is easy to use and navigate, even for novices.
  • The availability of penny stocks options – A quality penny stocks trading app offers thousands of penny stocks for trading. Additionally, you should also have access to other trading products such as stocks, ETFs, and bonds.
  • Research and analysis – A penny stocks trading app that offers multiple powerful research and analysis tools is good.
  • Educational resources – A good app also gives clients access to quality educational content.

How much do penny stock trading apps cost when trading penny stocks? 

Most brokerage firms offer commission-free penny stocks buying and selling. However, you need to be aware of possible hidden costs or any limitations. 

Are there risks associated with penny stocks trading apps?

Well, it depends on the app you choose. A good penny stocks trading app is safe and secure besides providing excellent tools for trading. 

How can I choose the best penny stocks trading app? 

As we have compiled a list of the best penny stocks trading apps for you, you can use it to your advantage. All these penny stocks trading apps offer the ultimate solutions and are the best apps that can contribute to your success. 

Russell Crane

Russell Crane

Russell is an Algorithmic & Technical Analyst Trader @ PatternsWizard.
His passion is to share his knowledge about TA, patterns & more. Why hope for your trading to work when you can precisely know the performance stat of every pattern?

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