The 5 best penny stock apps of 2022: Top trading apps

You will need to create a brokerage account to begin trading, but once you do, you're all set to begin investing. There are a ton of investment tools you can use to help with strategy, such as resources for retirement planning and market news to keep you abreast of market changes. It is extra guidance that is incredibly beneficial to investors, especially those novices that are still navigating their way around the market. Commissions are reasonable, allowing you a generous discount when you have 30 or more transactions. It is a benefit that is rarely seen among penny stock apps, saving you money when you are active on the platform. You have the option to conduct either self-directed online or broker-assisted trades, but first, you have to fund the account, which can take a little while, depending on the funding method you choose. However, you do have the option to use the free Transfer Money service, deposit a check, or send a wire transfer. If you need help, there is excellent customer service with 24/7 availability via phone for any help you may need.

Cost and fees

E*Trade charges a straightforward fee schedule.

Pros

• Discounted trading costs for bulk transactions
• No minimum deposit required
• 24/7 customer support 

Cons

• Slow to fund accounts 
• No cryptocurrency available