Penny Stock Brokers

Penny Stock Brokers

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Okay, you’re looking for a penny stock broker that can buy and sell penny stocks for you online. I am making that assumption as to why you came here. Let’s look at a couple of things before I give you a list of such brokers – which I will do. 


Watch out for fees with any broker that allows you to trade penny stocks. I am going to generalize here, but it’s necessary to get this point across. Remember, I spent several years as a broker for a small firm and for Merrill Lynch. All of that was in the 1990’s.  I have dealt with many brokers, big and small, over the past 15 years as a client.


 Brokers size you up when you call to set up an account.
They ask themselves, “is this an elephant or an ant?”

The elephant is the person that can bring so much more to the table than this one stock they want to buy or deposit into an account. The ant (and they have other names other than ant that are even less complimentary) is someone they want to make money off of or simply run off. They want to overcharge you to deposit or to buy, and then charge you fees for simply having an account that has a penny stock in it. These fees are usually published. They are not charging fees that are suggested to apply to everyone evenly. However, they don’t apply the fees evenly. Likely elephants have many fees “waived.”  They don’t want to do all of the work setting up an account only to have it generate a tiny commission without any real money into the firm. 

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I don’t know the fees of the firms on this list. You have to ask them. You have to tell them the kind of business you need done. Then you have to get all potential fees associated with doing business. They may charge to have “compliance” look over transactions or certificates. They may charge a “deposit” fee for cash or securities deposited. They may charge to have shares electronically imported in from another firm. They almost always charge big fees for handling restricted (Rule 144) stock certificates. 

Here’s a list of brokers you might want to look at:

The Usual Online Brokers:

(Note: Most of these will NOT let you trade in “risky” stocks
unless you are an ultra high net worth person and you are
only trading in a tiny percentage of the money you have at
their firm):

TD Ameritrade



Interactive Brokers

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Wilson-Davis & Co.
(I have dealt with the for years. They did not have an online access system as of the last time I dealt with them a couple of years ago. They set high standards for transactions, and have limits on what they will and will not take.)

Toll Free

More Brokers:

(I will add comments on the ones I have experience with.)

Just to Trade:


MB Trading

For Options: Options Express
Truly great, lower fees.

Low Trades

Trade King

Terra Nova
(Dealt with them in years past.)

(Dealt with them in years past.)


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