Looking To Score On Penny Stocks? There’s An App For That
Assuming you know the basics of penny stocks, definitions of standard terminology, and an understanding of the higher risks these cheap stocks have, your next step is trading. But when it comes to trading penny stocks, there is a sea of possibilities in the stock market today. Just to think that only a few years ago, a “mobile-friendly” trading platform was one more akin to a clunky, hard to use “scaled down” version of traditional brokerage platforms doesn’t seem possible. But it is and a lot has changed in a very short period of time.
Some may say that the Robinhood app helped spawn an entirely new generation of traders. The YOLO crew has popularized the app for its ease of use and no-fee platform allowing even the smallest accounts to start investing in penny stocks. As popularity grew, we’ve seen other brokerage platforms focus on a real mobile solution for the new generation of traders. Furthermore, there are many who want access to not only stocks but options, futures, and even cryptocurrency as well.
Then there’s the fee schedule. Today, nearly every major broker, including apps like Robinhood and WeBull, has gone to a “Freemium” approach. Users typically get to trade stocks and options with minimal fees but can elect to pay a subscription for access to features.
These include things like Level 2 data, time and sales, as well as extended-hours trading. When it comes to answering “What is the best app for penny stocks” it’s really a personalized question. So let’s go over some of the top apps that you can trade penny stocks on right now and you can decide what suits you the best.