What are the best penny stock brokers in Canada?

There are many brokers and trading platforms in Canada to trade penny stocks. Some top such trading platform picks will be Questrade, Virtual Brokers, CIBC Investor's Edge, Wealthsimple Trade, and TD Direct Investing. Questrade is certainly the best one in the Canadian market. For diverse trading, TD Direct Investing is the best to invest. Choose it according to your demand.

In Canada, there are not too many penny stock trading platforms. Instead, you will need to utilize a broker or trading platform that focuses on OTC stocks, or Over-The-Counter securities.

So, if you are looking to buy shares in companies that are trading for a few pennies or a couple of quarters, you can look at these platforms:

• Wealthsimple Trade
• TD Direct Investing
• Questrade

However, Wealthsimple would be your best option because it contains zero-commission and bare-bones trading tools. By using this trading app, you can attain the best available pricing to your liking without wasting it on fees. Plus, you can experiment with these penny investments and various strategies.

When it comes to the best OTC stocks to buy, this world is highly volatile, easy to manipulate, and potentially even wasteful for investors. They are prone to pumps and dumps and stocks that hardly go up.

From the long list of companies that seem promising, one of the few would be The Green Organic Dutchman, but even this investment has been disappointing.

Penny stocks are risky investments, so you need to choose a broker wisely.

Most brokers charge commissions of $5 or more per trade. This means that if you buy and sell penny stocks frequently, your trading costs will quickly add up and eat into your profits.

Finding an excellent Canadian penny stockbroker is hard work because there are so many options out there that all claim they're the best ones for you.

We've done all of the research for you so that finding your subsequent favourite penny stock brokerage will be easy!

Our top pick is TD Ameritrade due to its flat-rate pricing structure allows investors to trade up or down in size.

Best Online Brokers for Trading Penny Stocks

1. TD Ameritrade - $6.95 per OTCBB trade
2. Fidelity - $0 per trade
3. TradeStation - $0 per trade (up to 10,000 shares)
4. Charles Schwab - $6.95 per OTCBB trade
5. Interactive Brokers - $.0035 per share