Any good online brokers with low commission fees for Penny Stocks?
I am with Scottrade at the moment and I realize that i like trading stocks that are under $1. I was under the impression that trades for penny stocks would still be $7 but it’s not. I actually had to pay $7 plus .5% on the principle. So if i was to either buy or sell a penny stock with the principal being about $2000-$3000, the commission fee would be about $20 total. This seems to be really high. Is there any other online brokers that have lower commission fees when trading stocks that are under $1?
Zecco – $4.95 a trade, and they don’t restrict trading on certain stocks like Scottrade. Time to get yourself a better broker.