Top Online Brokers

In order to trade penny stocks you must have an account with a brokerage. You can call a broker to place an order or you can do it yourself on the computer. The first order of business when it comes to wanting to invest in penny stocks is having to find a good discount online broker. You can open an account with as little as $500.

Here is the 2012 Brokerage comparison chart: http://brokerstance.com/

Zecco offers a $4.95 competitive stock trade pricing with no minimums. They also offer extensive free trading & research tools, investor community – making them a solid choice for beginner traders.

TradeKing is one of the most popular online stock brokers there is, and one of the cheapest as well, as they only charge $4.95 per trade. There are no additional fees for broker assisted trades and no minimum account balance required. Moreover, there is no inactivity fees as well. However, for penny stocks, they charge an additional commission of $0.01 per share on all stocks priced under $1.

TDAmeritrade is a long established broker with a very good reputation. They make an excellent choice for a penny stock broker, as they have no hidden fees. They only charge $9.99 per stock trade for any amount of stock price and regardless of the number of stocks purchased. There are no inactivity fees as well.