Buy Penny Stocks

Investors should know the best online stock brokers to trade with. Some are known for their award winning customer service while others are better known for inexpensive or even free stock trades.

I chose Scottrade as first on my list of many online penny stock brokers to review.

Scottrade also offers some of the best trade fees online, only $7 for trades over $1. This is a great service for small time traders since they only require $500 to open an account, however, they are also perfect for day traders or active traders since their fees are reasonable and straightforward. Scottrade’s margin rates are also pretty low at a negative .25 for balances under 10K.

Though Scottrade doesn’t offer as many investment options as some of the other online brokers, they do have enough that you can diversify you portfolio. This online stock trading service has all of the standard investments including penny stocks, options, mutual funds and exchange traded funds.

They offer over 1,000 no transaction fee mutual funds and 10,000 load and no-load funds. Additionally, they have some fixed income investments like U.S. Treasury and Agency Issues, bonds, no fee IRAs and CDs.

The ease of use of the site is good if you are new to trading. The website and trading platforms are easy to navigate and there are online tutorials to teach you about the different tools. Scottrade Elite, their high-end trading desktop, allows you to add the windows and tools that provide the information that you need. When you look up a stock, all of the windows automatically update.

The Scottrade trader interface provides access to research as well as a knowledge center. Their knowledge center has a variety of calculators, access to news and research as well as information on their educational summits and seminars, which are free to all customers.

They offer three different trading platforms, Scottrade, Scottrader and Scottrade Elite. Scottrade is designed for the average online user, is easy to use and provides basic stats and good account monitoring tools. Scottrader is stepped up a bit, it has live streaming stock quotes, personal stock lists and quotes, free Dow Jones up-to-the-minute news an is fully customizable. Scottrade Elite is considered their advanced platform; it has Dow Jones and Comtex news, top performer scanners, charting ability and access to Level II quotes.

I think that Scottrade does a good job at providing trading tools for beginner investors as well as advanced traders and they offer a fairly comprehensive knowledge center with many informative webcasts. I would like to see them offer a cell phone-trading platform soon.

In summary, I think Scottrade is a excellent choice for new traders or straight traders; they offer all kinds of educational information for new investors and low-priced trades for those that like to trade stock frequently. I like the flat-fee structure that Scottrade offers that is perfect for low balance investors as well as active traders. They also offer a low margin rate and they have many offices for those that like to get see someone from time to time.

Beside, Scottrade has been known for excellent customer service. You can contact their friendly, knowledgeable team by e-mail, phone or visit one of their 403 offices nationwide. They are the only online broker that I know of that has an office you can visit. I thought that was a service that puts them above most online penny stock brokers.