Penny Stock Broker Review: Scottrade
There are many options out there for trading penny stocks, so finding a good penny stock broker can be a difficult thing. Today, I’m going to talk about one of the stock brokers I’ve used personally.
Before selecting any of the penny stock brokers, there’s numerous things to discover. I wrote an article about it here: Penny Stock Brokers – How to Choose the Right One.
Over the years, I’ve used Scottrade very often and have been pleased with them. Their $7 trades allow me to get in and out and not see a big hit to my profits. However, be warned, if you’re going to mainly trade with sub-$1 stocks, their $7 trading fee doesn’t apply.
If that’s you, then there are three options. You could:
- Open up an account at Scottrade and just deal with it.
- Open up an account at Scottrade for all your trading involving $1+ stocks and open an account at another penny stock broker for the other trades.
- Just look elsewhere.
Scottrade offers fast trades and many tools within their trading environment. They are secure and highly visible. Not only have I traded online with them, but I’ve actually walked into on of their offices and performed tasks, such as account creation, depositing, withdrawing, etc.
When I wanted to open an account with thousands of dollars for speculation trading, I wanted to speak to someone face-to-face and I was able to do that with them.
When you’re seeking out a penny stock broker, I’d recommend putting Scottrade on your list of possibilities. There are other links on Penny Stocks Capitalist that will lead you to other stock broker options. Visit some of them and do your research before jumping in with any broker.
