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Cheap Penny Stocks Brokers 2014

Online Brokers Surcharges On Penny Stock Trades


List below contains review of the discount online brokerage firms trading fees/commissions and surcharges on penny stock trades (stocks priced below $1/Pink Sheets/OTCBB) for 2014 for the following companies accounts: TD Ameritrade, Charles Schwab, Choicetrade, Etrade, Fidelity, Firstrade, Interactive Brokers, LightSpeed, MB Trading, Bank of America Brokerage/Merrill Edge/Lynch, Muriel Siebert, Optionshouse, Optionsxpress, Scottrade, Capital One Sharebuilder, Sogotrade, Speedtrader, Thinkorswim, Tradeking, Trademonster, Tradestation, Trading Block, Vanguard, and Wells Fargo's Wellstrade.


Cheap Penny Stocks Brokers


A lot of online brokers charge additional commission on penny stocks (stocks priced under $1) trades. This surcharge policy makes low priced securities trades prohibitively expensive.

However, there is fair amount of brokerage firms that do not impose additional commission on penny stock trades. Our research shows that the best discount brokers for penny stock traders are TD Ameritrade and Etrade. OptionsXpress by Charles Schwab offers the cheapest penny stock trades out of these three brokerage firms - $8.95 per transaction. With Etrade you could get $7.99 per trade rate if you trade at least 150 times per quarter. For this reason active traders usually go with Etrade.

Another thing to consider when looking for the best penny stock broker, is that some brokerage firms might have additional commission on large-size orders - usually 1,000 shares or more. This surcharge will also make penny stock trades way too expensive. We encourage readers to check detailed brokerage reviews on our website that contain the links to the list of all the fees charged by a particular firm.

Some companies we mentioned above offer attractive promotional offers for new clients to open a brokerage account:

Etrade: Trade free for 60 days + get up to $600.

TD Ameritrade: Trade free for 60 days + get up to $600.





Online Broker Penny Stock Fees



Scottrade
Rating
Scottrade Penny Stocks Commission/Fee Scottrade
Review


4.5-star brokerage firm rating

Scottrade Review



Scottrade penny stock commission: $7 + 0.5% of the principal value

Scottrade penny stock definition: $1 or less
Scottrade
Review
TradeKing
Rating
TradeKing Penny Stocks Commission/Fee TradeKing
Review

4.5-star brokerage firm rating




TradeKing penny stock commission: $4.95 + $0.01 per share on the entire order

TradeKing penny stock definition: $2 or less
TradeKing
Review
Etrade
Rating
Etrade Penny Stocks Commission/Fee Etrade
Review

4-star brokerage firm rating

Etrade Review


Etrade penny stock commission: $9.99 ($7.99 if making 150+ trades per quarter)

Etrade doesn't have penny stocks surcharge.
Etrade
Review
TD Ameritrade
Rating
TD Ameritrade Penny Stocks Commission/Fee TD Ameritrade
Review

4-star brokerage firm rating

TDAmeritrade review


TD Ameritrade penny stock commission: $9.99

TD Ameritrade doesn't have penny stocks surcharge.
TD Ameritrade
Review
Charles Schwab
Rating
Charles Schwab Penny Stocks Commission/Fee Charles Schwab
Review

4-star brokerage firm rating

Charles Schwab review


Charles Schwab penny stock commission: $8.95

Charles Schwab doesn't have penny stocks surcharge.
Charles Schwab
Review
Optionshouse
Rating
Optionshouse Penny Stocks Commission/Fee Optionshouse
Review

4-star brokerage firm rating

Optionshouse Review


Optionshouse penny stock commission: $4.75 + $0.005 per share for the entire order

Optionshouse penny stock definition: $2 or less
Optionshouse
Review
TradeMonster
Rating
TradeMonster Penny Stocks Commission/Fee TradeMonster
Review

4-star brokerage firm rating




TradeMonster penny stock commission: $4.95 + 1.5 cents per share on entire order

TradeMonster penny stock definition: $1 or less
TradeMonster
Review
TradeStation
Rating
TradeStation Penny Stocks Commission/Fee TradeStation
Review

3-star brokerage firm rating

TradeStation review 2014


TradeStation penny stock commission: 1 to 9 trades/month - $9.99/trade; 10 to 29 - $7.99/trade; 30 - 99 - $6.99/trade; 100 - 199 - $5.99/trade; 200 or more - $4.99/trade

TradeStation doesn't have penny stocks surcharge.
TradeStation
Review
ShareBuilder
Rating
ShareBuilder Penny Stocks Commission/Fee ShareBuilder
Review

3-star brokerage firm rating

Sharebuilder Review


ShareBuilder penny stock commission: $6.95 + $0.007 per share surcharge on real-time trades (subject to a maximum of 15% of the principal amount of the trade, but no less than the base commission)

ShareBuilder penny stock definition: $1 or less
ShareBuilder
Review
Interactive Brokers
Rating
Interactive Brokers Penny Stocks Commission/Fee Interactive Brokers
Review

3-star brokerage firm rating

Interactive Brokers review 2014


Interactive Brokers penny stock commission: $0.005 per share with $1 minimum per trade for SMART routed orders

IB doesn't have penny stocks surcharge.
Interactive Brokers
Review
Fidelity
Rating
Fidelity Penny Stocks Commission/Fee Fidelity
Review

4-star brokerage firm rating

Fidelity review


Fidelity Investments penny stock commission: $7.95

Fidelity Investments doesn't have penny stocks surcharge.
Fidelity
Review
USAA Brokerage
Rating
USAA Brokerage Penny Stocks Commission/Fee USAA Brokerage
Review

3-star brokerage firm rating

USAA Brokerage Review


USAA Brokerage penny stock commission: $8.95 for Gold members and $5.95 for Platinum members

USAA Brokerage doesn't have penny stocks surcharge. Additional $0.01 per share and $0.005 per share is charged for each share over 1,000 for Gold and Platinum members, respectively.
USAA Brokerage
Review
Firstrade
Rating
Firstrade Penny Stocks Commission/Fee Firstrade
Review

3-star brokerage firm rating

Firstrade Review


Firstrade penny stock commission: $6.95 + 0.5 cent per share for the entire order

Firstrade penny stock definition: $2 or less. Additional 0.5 cent per share surcharge for orders of over 5,000 shares.
Firstrade
Review
Lightspeed
Rating
Lightspeed Penny Stocks Commission/Fee Lightspeed
Review

3-star brokerage firm rating

Lightspeed Trading Review


Lightspeed penny stock commission: $4.50 per order, plus/minus Market Center Fees

Lightspeed doesn't have penny stocks surcharge.
Lightspeed
Review
SogoTrade
Rating
SogoTrade Penny Stocks Commission/Fee SogoTrade
Review

3-star brokerage firm rating

SogoTrade review


SogoTrade penny stock commission: $5 + 0.5% of the principal value

SogoTrade penny stock definition: $1 or less
SogoTrade
Review
Muriel Siebert
Rating
Muriel Siebert Penny Stocks Commission/Fee Muriel Siebert
Review

3-star brokerage firm rating

Muriel Siebert review


Muriel Siebert penny stock commission: $14.95

Muriel Siebert doesn't have penny stocks surcharge. There is 1.5 cents per share surcharge for each additional share over 1,000.
Muriel Siebert
Review
WellsTrade
Rating
WellsTrade Penny Stocks Commission/Fee WellsTrade
Review

3-star brokerage firm rating

WellsTrade review 2014


Wells Fargo/WellsTrade penny stock commission: greater of $34.95 and 3.5% of principal

Wells Fargo/WellsTrade penny stock definition: $1 or less. Additional 1.5 cents per share charged for more than 1,000 shares in one trade.
WellsTrade
Review
Vanguard
Rating
Vanguard Penny Stocks Commission/Fee Vanguard
Review

3-star brokerage firm rating

Vanguard review


Vanguard penny stock commission: $7 for the first 25 trades, $20 for subsequent trades for account with less than $50,000

Vanguard doesn't have penny stocks surcharge.
Vanguard
Review
Merrill Edge
Rating
Merrill Edge Penny Stocks Commission/Fee Merrill Edge
Review

3-star brokerage firm rating

Merrill Edge review


Merrill Edge penny stock commission: $6.95

Merrill Edge doesn't have penny stocks surcharge.
Merrill Edge
Review
Trading Block
Rating
Trading Block Penny Stocks Commission/Fee Trading Block
Review

3-star brokerage firm rating

TradingBlock review


Trading Block penny stock commission: $7.50

Trading Block doesn't have penny stocks surcharge.
Trading Block
Review
SpeedTrader
Rating
SpeedTrader Penny Stocks Commission/Fee SpeedTrader
Review

2-star brokerage firm rating

SpeedTrader Review
SpeedTrader penny stock commission: $6.95

SpeedTrader doesn't have penny stocks surcharge.
SpeedTrader
Review
This article was updated on 9/30/2014.



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