6 Penny Stock Brokers With No Minimum Deposit!

While penny stocks are risky to trade for beginners, they are a great way to capture massive returns with a small investment. Penny shares are cheap to buy and volatile, meaning fortunes can be made or lost overnight. For every trader who became a multi-millionaire, there are horror stories of people blowing up accounts and end up owing money! With that in mind, before you open an account with a brokerage, make sure you’re 100% ready.

Although there are dozens of stock brokers with no account minimums, not many of them are suitable for penny stocks. Luckily for you, I have compiled a list of the best penny stock brokers with no minimum deposits and charge cheap commissions.

TD Ameritrade 

  • TD Ameritrade is one of the most reputable online brokers with no account minimums for clients!
  • Ideal for penny stocks as they charge a $6.95 fee per trade with no surcharges on stocks under $1, making it more affordable to trade OTCBB and Pink Sheet stocks.
  • Two great trading platforms available to all customers – Thinkorswim and Trade Architect.
  • Robust charting tools that can be customized to meet your requirements.
  • Don’t have annoying inactivity or maintenance fees.
  • Free access to real-time quotes and level 2, perfect for active day traders
  • Customer service is average, to lower costs they outsourced it to cheaper countries such as India.


  • E-Trade is my number one pick as the best broker for trading penny stocks.
  • Is a highly recommended broker for short selling shares under $5.
  • Flat fee commission structure with no extra fees on penny stocks!
  • Discounts given to active traders, $6.95 commission for less than 30 trades every quarter, make more than 30 trades and the fee drops to $4.95.
  • Don’t accept customers from certain countries which sucks for people in the UK.

Ally Invest

  • Formerly known as TradeKing, Ally Invest are another penny stock broker with no minimum deposit required.
  • $2,000 account minimum for margin accounts, giving people the chance to profit from short selling companies.
  • Suitable for beginners traders new to stock trading and don’t have much money to invest.
  • Commissions are low, $4.95 per trade is very competitive within the brokerage industry.
  • User interface is appealing to users, making it faster and easier to execute trades.
  • Charge a one-cent surcharge per share on stocks below $2.
  • Regularly run promotions for new customers. Currently, they offer $500 worth of commission-free trades for clients who deposit $10,000.
  • Trading platform and tools aren’t as advanced as the top online brokers but is improving slowly.


  • Robinhood has quickly become the most popular broker among millennials.
  • The start-up broker offer commission-free trades to millions of people around the world.
  • While getting free trades may seem like a great deal, there is a catch. Executions will be slower than the industry standard, penny stocks are volatile and speed is crucial to make consistently profitable trades. More suited towards long-term investors.
  • Despite the downsides Robinhood are great for first-time investors looking to gain experience and have fun.
  • UI design is beautiful and easy to navigate.


  • TradeMonster is a subsidiary of OptionMonster, owned by well-known financial commentators, Pete Najarian and Jon Najarian.
  • Their parent company specializes in Options trading and setup TradeMonster to offer more diverse financial products to the market.
  • In 2015, they merged with OptionsHouse and were later taken over by E-Trade.
  • $0 account minimum required to open a cash account.
  • $0.005 surcharge per share on stocks below $2.
  • Not a good option for beginners.


  • Degiro is a low-cost Dutch broker, only available to European investors.
  • Low account minimum, €0.01 has to be deposited during the verification process.
  • Limited selection of penny shares on their platform but they have ridiculously cheap fees.
  • Good choice for traders in Europe as they find it challenging to find penny share friendly brokers. The majority of US brokers won’t accept costumers from Europe or require a deposit of $10,000.
  • Compensation scheme protects deposits up to €20,000.

Even though these companies have low minimum requirements, I advise picking the broker that suits your trading style.

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