Best penny stock trading apps

Stock trading is one of the best options for investments among investors. Before trading apps, it becomes hard for investors to invest in stocks as they need to locate nearby brokers for taking trades. 

But after the digital revolution, the way of trading stock has entirely changed. Now users can take trades and invest straight from their phones and PCs with brokers’ digital platforms.  

The prices of stocks are already high, which makes penny stock trading apps more popular. But what are these penny stocks? Can we trade penny stocks with regular trading apps? Get all the answers from this blog.  

What are penny stocks?

Unlike traditional stocks, penny stocks refer to stocks with trading prices of under $5 per share. Penny stocks have a very low market capitalization and excellent liquidity, which turns out to be double swords for investors.

  1. Investors usually buy these stocks in large quantities and make more significant profits and more considerable losses on small fluctuations in their price. 
  2. Also, penny stocks are most likely to face price manipulation by institutional traders and brokers.

After knowing penny stocks, you may wonder why apps have become the most popular way of doing stock trading? Let’s discuss it in the next section.

Why use apps to buy penny stocks?

With the current digitalization trend, using mobile apps for penny stock trading seems to be the best way to take trades and make money. Banks have also published their trading app to allow their account holders to take trades. Nowadays, traders have great options for choosing apps to trade penny stocks.

These are some advantages that users can take from trading apps:

  • The app offers Commission-free trading
  • Instant notifications and alerts on users’ devices
  • Trading strategies suggested by the app’s algorithms
  • The most app offers automated AI trading 
  • The app ensures account security with advanced security features

List of the best penny stock trading apps

These are the list of top best apps from which you choose any app that meets your trading needs for a better trading experience. You can check the trading requirements of all these apps like minimum deposit, trading fees, commission rate, etc.  

1. Charles Schwa

charles schwa app review

The app has won many industrial awards. It was founded in 1971 and has provided the overall best stock trading experience to its customers. 

Charles Schwa improved the brand by focusing on low-cost investing, technological innovation, excellent customer service, and world-class research and education resources needed for every penny stock investor. It’s our first pick within the top list of apps to buy penny stocks.  

Also, this was the first one that managed to offer discount brokerage. It provides access to its full range of services, including its StreetSmart platforms and high-end stock screeners for penny stock trading, by providing access to penny stocks traded on multiple exchanges.  

Founded in1971
Min. Deposit$0
Commission Rates $0 on all stock trades
Other Investment OptionsStocks, bonds, funds, ETFs, options, futures
Available platformsWeb, Android & iOS

2. Robin Hood

Robinhood app review

Robin Hood’s valuable services, such as the zero trade commission and its wide variety of investment options, are loved by many investors. It was founded in 2013 and is considered a simple and accessible platform for trading penny stocks.

Talk over its other investment options; it offers to trade in gold, cryptocurrencies, ETFs, options, etc. But it lacks tools and resources which can help traders in many ways. Instead, it just comes with its basic market research tools and features.

This broker doesn’t require any minimum deposit to set up an account. You can upgrade your trading account in Robinhood by taking its monthly subscription of $10 to advanced trading tools and features.

Founded in2013
Min. Deposit$0
Commission Rates $0 on all stock trades 
Other Investment OptionsStocks, bonds, ETFs, options, crypto
Available platformsWeb, Android & iOS

 3. TD Ameritrade

Td Ameritrade app review

The trading platform “TD Ameritrade” was started in 1975. It manages to offer high-tech trading tools and clean app navigation that makes users’ trading experience easier and better.

You can access best-in-class trading tools, real-time streaming data, and other trading services. Its web and mobile app trading platform has the same trading tools and features that provide users with a better cross-platform trading experience. 

Also, you can set up your account without needing any minimum deposit amount. It offers commission-free trading on non-OTC stocks. The only drawback here is that it charges $6.75 per trade for OTC stocks.

This app has two versions:

  1. One for beginners traders, and 
  2. Another for experienced traders

It comes with its regular TD Ameritrade app with basic features for beginners. While for advanced and experienced professional traders: it comes with its award-winning premium thinkorswim app. 

These apps let you trade and monitor your stocks with live charts and access many trading tools. This can help you research a company’s value for making better decisions on your penny stocks trades.

Founded in1997
Min. Deposit$0
Commission Rates $0 for non-OTC stocks while $6.95 for OTC stocks 
Other Investment OptionsStocks, bonds, funds, ETFs, options, futures 
Available platformsWeb, Android & iOS

4. Ex trade

Ex trade app review

It is one of the oldest brokers in the stock trading market. It was founded in 1982 and acquired by Morgan Stanley in 2020. Its app has advanced trading tools and features that traders need during trading penny stocks. It also provides research reports from Thomson Reuters, TipRanks, and others. 

Like TD Ameritrade, this app also has two versions: —the regular E*Trade app and the Power E*Trade app. Both these apps are separated based on the needs of beginner and advanced traders. 

The advanced version of this app comes with full-service platform money management and gives access to breaking news and streaming Bloomberg TV to help traders stay up to date with the latest financial news. It offers zero commissions on all penny stocks. But the one downside is that EV trade charges $6.95 per trade on OTC stocks.

Founded in1982
Min. Deposit$0
Commission Rates $0 on all stock trades and $0.005 per share over 10,000 shares
Other Investment OptionsStocks, bonds, funds, ETFs, options, futures 
Available platformsWeb, Android & iOS

5. Trade station

Trade station app review

This platform is known for its super-fast trade executions and institutional quality. Trade station was founded in 1982 and has provided the best consistent trading experience to its users. 

It comes with two mobile app options- TO Select and TSgo. Both these apps offer zero-commission trades on penny stocks and all other equities. Talking over their difference: TSG users require no minimum account balance to take trades, but there is a $10-per-trade charge.

The TO Select app requires an account balance of a minimum of $2,000, but users can take commission-free trade on the desktop platform. TS Select can be the best option for beginners interested in trading penny stocks. It offers paper trading to test trading strategies in real-time or historical data.

Also, it provides access to several training resources, including webinars, market insights, and community forums. 

Founded in1991
Min. Deposit$2,000 for TS Select 
Commission Rates $0 on all stock trades, $0.005 per share over 10,000 shares
Other Investment OptionsStocks, bonds, funds, ETFs, options, futures
Available platformsWeb, Android & iOS

6. Fidelity

Fidelity app review

Fidelity is one of the top brokers that offer commission-free trading on stocks (including penny stocks). Also, like other best penny stock trading platforms, it doesn’t require a minimum account balance for taking trades. All its users, even its penny stock investors, can access its research and analysis tools through Fidelity’s Active Trader Pro platform. Even more, entrepreneurs are making more money than penny stock trading by developing a trading app similar to Fidelity.

The mobile app of this platform has a clean and easy-to-use interface which makes it easy to buy and sell a large number of penny stocks for their users. Also, it delivers regular stock portfolio, market, and research content for its users. Talk over the other app features: it offers additional features such as stock quotes and intraday valuations, position tracking, etc.  

Fidelity does not charge a commission for stock trades, including penny stocks, and there is no account minimum. Regardless of trading frequency or account balance, all Fidelity customers provide access to its Active Trader Pro platform.

Talk over is one the best stock screener; it offers searches on OTC stock exchanges that can reduce the searches to fewer than 1,000 stocks.

Founded in1946
Min. Deposit$0
Commission Rates $0 on all stock trades 
Other Investment OptionsStocks, bonds, ETFs, options, futures, crypto 
Available platformsWeb, Android & iOS

You don’t like trading stocks but still want to make money from this market? Check the alternative ways to make money from penny stock in the next part.

How to make money from penny stocks without trading?

This question is worth asking for users who don’t know about trading and don’t have enough time for market research by performing technical analysis. 

No worries! Many alternate ways are available to make money without using apps to trade penny stocks:

  1. You can use the app’s bots to perform automated trading
  2. Many mutual funds are available that invest in penny stocks
  3. Take annual dividends from your investments in stocks.
  4. Subscribing for trading signals that notify you of any available trade opportunity
  5. Publish your stock trading app.

App publishing in trading has also become a better investment option among entrepreneurs and investors. With your trading app, you can take a commission from each user whenever they trade, whether they win or lose. 

But how good is this business opportunity by publishing your app? You’ll understand this in the next section.   

How big is the stock market?

Many banks, institutions, and retail traders are involved in stock trading. Without money, no one can enter the stock market. So you can easily judge how it is profitable to target these audiences engaged in stock market trading and investments. 

Every app user can make you money whenever they trade from your app. Check this infographic to understand how big is a stock market on a global level—now moving to the end of this blog.

Market size of stock market

Still, something is left to say. Let’s discuss this in the next section 

What should we conclude? 

After reading the blog, we can conclude that there are many ways to make money in the stock market, even without taking trades and putting your money at risk on penny stock apps. 

If you want to develop and publish your trading app, you can do more research, or even better, check out this blog for a development guide on stock trading apps.

Even better, you can call us to guide you on how you can start your business. Also, you can publish your app from our app development team to start and expand your stock trading app business.   

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Frequently Asked Questions

You can check some most commonly frequently asked questions within this section to help you resolve any doubts regarding the best penny stock trading apps.

Q. Are stock trading apps reliable or not?

Ans: Yes, trading apps are reliable because of their security. You can also include security features in your app for users’ fund security and trust.

Q. How can I make money from my trading app?

Ans: You can make money by charging trading fees to every user in each trade. Also, you can set a small withdrawal fee or provide paid trade strategies for your customers on your app.

Q. What features can I include in my trading app?

Ans: You can offer many valuable features, such as

  • Bot trading
  • Trading Indicators
  • Latest financial news
  • User’s customized trading alters
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