penny stock apps can be a simple way to invest your money with just a minimal financial investment, thus eliminating the heady risk of larger investments. Instead, the best penny stock apps offer a user-friendly way to invest your money with a low startup cost. But where is one to start? We survey today’s best penny stock apps, analyzing key features and factors before presenting the best penny stock apps for your financial future. While researching your trading options, be sure to check out our expert recommendations for the five best crypto apps and the five best investment apps. Cost and fees There are no monthly service fees, but Charles Schwab does charge fees per trade, according to the fee schedule below.
Pros
Multiple platformsNo monthly feesExcellent mobile app
Cons
Lacking automated cash sweepNo FX trading
Cost and fees E*Trade charges a straightforward fee schedule.
Pros
Discounted trading costs for bulk transactionsNo minimum deposit required24/7 customer support
Cons
Slow to fund accounts No cryptocurrency available
Cost and fees Fidelity does not charge a commission fee for trading. Pros
Fantastic for order execution Built-in stock screeners Active Trader Pro access
Cons
Limited to U.S. citizens onlyNo auto-refresh feature
Cost and fees Robinhood does not charge any commission, new account, or opening fees. However, there is a fee of up to $6.49 per trade for its trading activity fee. Pros
More legitimate trading optionsFree to tradeFractional shares available
Cons
No OTC tradesWaiting time for deposits to clear
Cost and fees TD Ameritrade charges $6.95 per trade, but there is no minimum opening balance requirement, nor are there commissions. Pros
Few feesNo required opening balanceTons of transaction-free stocks
Cons
Does not offer fractional sharesNo direct access to cryptocurrency
Access: One of the most important things is the ability to access several different stocks. There is no shortage of penny stocks out there, but not all penny stock apps may have the exact trades you want. Interface: We look for a clean, streamlined interface that is simple to navigate, regardless of whether you are a beginner or not. Availability: Some penny stock apps may be limited in their availability, requiring you to trade on certain days or during specific hours. Many of the best penny stock apps offer 24-hour availability for added convenience. Fees: Budget is always a concern, so we chose the best penny stock apps with reasonable fees. Many of the options on our list skip the commission fees or have no requirement for your minimum opening balance.
We also consider user experience, studying real reviews to get the inside scoop on how effective each app is for penny stock trading.
