Cheapest Penny Stocks Brokers 2016

Cheapest Penny Stock Brokers With No Surcharge On Penny Stock Trades.


List below contains 2016 review of the online brokerage firms trading commissions and surcharges on penny stock trades (stocks priced below $1/Pink Sheets/OTCBB) for the following companies: TD Ameritrade, Charles Schwab, Etrade, Vanguard, Fidelity, Firstrade, Interactive Brokers, Thinkorswim, LightSpeed, Bank of America Brokerage/Merrill Edge/Lynch, USAA, Optionshouse, Optionsxpress, Scottrade, Capital One Sharebuilder, Sogotrade, Tradeking, Tradestation, 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 are some brokerage firms that do not impose additional commission on penny stock trades. In 2016 we have reviewed online broker penny stock charges and listed them in the table below.

Our research shows that the highest rated, best stock brokers for penny stocks trades are TD Ameritrade and TradeStation. TD Ameritrade charges $9.95 and TradeStation charges $9.99 per penny stock transaction. There is no penny stock trade surcharge at these companies. With TradeStation customers can get $4.99 per trade rate if they trade at least 200 times per quarter. Unadvertised secret is that TD Ameritrade's commissions are negotiable for active traders.

Another thing to consider when looking for the cheapest 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. TD Ameritrade doesn't have large-size surcharge. With TradeStation if client uses direct routing up to 1,000 shares there is no additional charge, but there is $0.004 per share charge thereafter. For non direct routed orders there is no surcharge.

We encourage readers to check detailed brokerage reviews on our website that contain the links to the list of all the fees charged by the firms.

The companies we mentioned above offer incentive offers for new clients to open a brokerage account (all current broker promotions are listed here):

TradeStation: Get up to $500 - trade commission free for 90 days.

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







Brokerage Firms Penny Stock Fees



Scottrade
Rating
Scottrade Penny Stocks Commission/Fee Scottrade
Review


Scottrade 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 Review


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

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

Ameritrade brokerage 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

Optionshouse rating

Optionshouse Review


Optionshouse penny stock commission: $4.95 + $0.005 per share for the entire order

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

Etrade brokerage 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
TradeStation
Rating
TradeStation Penny Stocks Commission/Fee TradeStation
Review

Tradestation rating

TradeStation review 2016


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
Capital One Investing
Rating
Capital One Investing Penny Stocks Commission/Fee Capital One Investing
Review

Sharebuilder rating

Capital One Investing Review


Capital One Investing 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)

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

3-star brokerage firm rating

Interactive Brokers review 2016


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

USAA brokerage 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

Firstrade brokerage 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

Siebert brokerage 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


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

Merrill Edge brokerage 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
Updated on 2/16/2016.



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