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Best Penny Stock Brokers in 2026
The cheapest penny stocks brokers with no commission, fees, or surcharge to buy, sell,
trade penny stocks.
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Best 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 2026, we have reviewed online
brokers penny stock charges and listed them in the table below.
Our research shows that the best online broker for penny stocks trading is
Firstrade.
The company charges $0 for any trade for stocks listed on a U.S. exchange. For stocks not listed on a U.S. exchange, also known as
OTC stocks, it is still at $0. There is no penny stock trade surcharge at this company.
This combination of no commissions and no surcharge makes the firm the cheapest broker
for penny stock trading.
Another thing to consider when looking for the perfect 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. Firstrade doesn't have a
large-size order 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.
Firstrade Promotion: Up to $250 in ACAT fee rebate at Firstrade.
Brokerage Firms Penny Stock Fees
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Be Aware of the Risks
Before you jump in and buy one of these stocks, you should first familiarize yourself with special hazards that have long been associated with the OTC marketplace. Penny stocks typically have large bid-ask spreads, which increase the cost of ownership. Liquidity is often much lower compared to regular equities. And volatility can be quite high as well.
Frequent Risks Encountered in the OTC Marketplace
Because the over-the-counter marketplace has fewer government regulations, criminal activity has been common over the years. The listing requirements that OTC exchanges enforce are much less strict than the regulations imposed by bigger exchanges.
Volatility tends to be higher, and liquidity can be a problem in some cases. Bid-ask spreads are also larger, which increases the round-trip trade price.
Updated on 12/8/2025.
Arthur Chachuna is a professional personal finance blogger, and the owner of Brokerage-Review.com.
He has been an avid investor for 25 years, and has a background in both applied math and programming.