Best Apps For Penny Stocks: Robinhood
Say what you will about Robinhood and penny stocks but it has helped drive a directive for things like trading fees. I wouldn’t call it a pioneer for mobile trading but it did entice a new generation of traders to join the markets. No matter how big or small an account is, the Robinhood app allows commission-free trading. This includes trading for things like penny stocks and blue-chips alike. Similar to WeBull, you can also access information on desktop as well.
One of the high points for Robinhood is that it offers a simple way to buy and sell stocks, options, and cryptocurrency. One of the downsides, however is that when you see a high-flying OTC penny stock, you can’t buy it. Robinhood limits access to NASDAQ and NYSE listed stocks. So for many of the marijuana stocks, for instance, Robinhood users are SOL. Similarly, we’ve seen a lot of attention on things like mining and biotech penny stocks.
When it comes to trading one of these that is foreign listed, Robinhood doesn’t have access to 5-letter stocks ending in the letter “F”. Needless to say, Robinhood has had its share of trouble over the years. More frequent application black-outs, seemingly ‘unlimited margin’, and other glitches have raised questions. However, it hasn’t stopped the millions of users from opening up new accounts over the years.
