Compare the best penny stock apps in 2022

Using an app on your mobile device is an easy way to invest in penny stocks. Use this guide to compare the best penny stock apps to help you choose the best one.
Updated: Sep 9, 2022

Penny stocks are high risk high reward investments and using a trading platform or stock app is a convenient way to access the best shares. This beginner friendly guide compares and ranks the best penny stock apps to help you select the most suitable one. 

What are the best penny stock apps?

If you’re ready to start investing right away then check out the list of apps below. They have been selected by our investment experts and are the top apps around to buy penny stocks. Just click on any of the links to get started in minutes, or read on for our comprehensive list.

Min. Deposit
$ 10
User Score
Up to $240 bonus!
Deposit with ACA, Wire, Pay with my bank
Invest for dividends and get payout on stocks on Ex-Dividend day
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Payment Methods:
Bank Transfer, Wire Transfer
Full Regulations:
Investoo Ltd is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc., as applicable. This compensation incentivizes Investoo Ltd to describe those products and services in favorable terms. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.
Min. Deposit
$ 100
User Score
Trade out-of-hours on over 70+ US stocks
Get exposure to a wide range of popular UK, US and international stocks
Enjoy flexible access to more than 17,000 global markets, with reliable execution
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Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal
Full Regulations:
ASIC, FCA, FINMA, is a licensed bank (IG Bank in Switzerland)
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Min. Deposit
$ 0
User Score
$0 commission and $0 Options contract fees
Upgraded research with advanced charts
Smart Menus for faster trades
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Full Regulations:
Min. Deposit
$ 500
User Score
We offer one of the best execution speeds in the industry with low latency
Award-winning support in 14 languages
Trade with precision from 0.5 pips on EURUSD
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Payment Methods:
Bank Transfer, Bank Wire, Credit Card, Debit Card, PayPal, Sofort, neteller, skrill
Full Regulations:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Top penny stock apps

1. eToro: Best overall

eToro is our experts’ selection as the best penny stock app. It offers over 1,500 stocks to trade through your mobile device. Penny stocks are OTC listed, meaning they’re not actually available on eToros app as it only has publicly listed companies available. However, penny stocks are ‘cheap shares’ that trade for under $5 a share, which eToro has plenty of. 

On the eToro app you can trade stocks via CFDs and also invest in them directly and own the underlying asset. Its app has the same functionality as its proprietary web based trading platform and can be downloaded on both the Google Play Store and Apple App store. It’s a commission free broker and you’ll only need to pay a bid/ask spread.

68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money 


  • Over 1500 stocks available 
  • Lots of ‘cheap stocks’ under $5
  • No commission
  • Doubles as a social trading network with copy features


2. Skilling: Best choice of mobile platforms

Skilling has three options when it comes to mobile apps. Like eToro above, Skilling doesn’t actually offer any penny stocks, but does include a number of ‘cheap’ shares. After registering an account you’ll have the luxury of choosing from three cutting edge mobile applications: Skilling Trader, Skilling cTrader, and Skilling MT4.

Skilling trader is its custom built platform that can be downloaded onto your mobile device. It has over 800 financial instruments available and offers the same functionality as its web based  counterpart. Skilling cTrader and Skilling MT4 are two of the best known trading platforms in the world. Both offer a wide range of technical tools and advanced charting features. 


  • Three mobile platforms to choose from 
  • Good selection of cheap stocks
  • Other assets available like forex, indices, commodities
  • Low commissions


3. Best for beginners’s mobile app is our top trading platform for beginners. Its mobile app can be downloaded on both the Google Play store and Apple App store. Unlike eToro and Skilling above, does offer a number of penny stocks from markets around the world. When investing in or trading penny stocks on its app, you won’t pay any fees other than spread. 

Its mobile application is great for beginners because of the additional features it comes with. Most notably, it has one of the widest selection of educational content of any app on our list. Its ‘learn to trade’ section is packed with beginner friendly guides including things like the basics all the way to advanced trading strategies.


  • No commission 
  • No deposit or withdrawal fees
  • Low minimum deposit – £20
  • Wide selection of educational content


4. Plus500: Best for demo account

If you’re new to trading or investing in penny stocks and want to practice your skills, you’ll find that Plus500 has the best app for it. Similar to other apps on our list, Plus500 doesn’t list any penny stocks, but does include a number of ‘cheap shares’ trading at under $5. Its demo service is one of the best around, as it never expires, giving you unlimited time to practice. 

Plus500 has its own proprietary trading platform that’s available on both desktop and mobile. Its mobile app offers the same features as its web based counterpart. Its trading app is a good choice for both new and experienced investors. Beginners can practice penny stock trading with different charts and indicators, while experienced users can sharpen their skills.


  • Custom built trading platform app
  • Wide variety of stocks available 
  • Other assets like forex, indices, and commodities 
  • Demo account automatically reloads when balance drops to $200


5. AvaTrade: Best for penny stock trading

Penny stock traders will want a fast, reliable app and AvaTrade fits the bill. Its custom built ‘AvaTrade Go’ mobile application uses the popular MetaTrader 4 platform while incorporating many other features, only available with AvaTrade. When using the AvaTrade Go app, everything from opening an account to placing a trade can be completed from a mobile device. 

It has over 700 stock CFDs available on its app, although it doesn’t offer any penny stocks, but includes a number of ‘cheap shares’. Traders can access companies listed on all major exchanges and use leverage of up to 5:1. Another benefit of AvaTrade Go is the inclusion of other assets like forex and commodities, which can all be traded from a single account.


  • Custom app built on top of MetaTrader 4
  • Over 700 stock CFDs
  • Zero commission
  • Leveraged trading available


What is a penny stock app?

It’s an application that allows you to trade penny stocks from your mobile device. Most online brokerage firms have both web based and mobile platforms. Penny stock apps can be accessed via your smartphone or tablet and usually offer the same features as desktop versions. 

How does a penny stock app work?

To use a penny stock app you will first need to register an account with an online broker. When your account has been created the penny stock apps need to be downloaded onto your smartphone or tablet in order for them to work. Mobile apps allow you to buy and sell penny stocks while on the go and have the same features as desktop or web based platforms. 

How should I choose a penny stock app?

There are a number of factors that you should consider when choosing which penny stock app to go with. You’ll want an application that has low fees, good speed, and a good selection of stocks to buy or sell. Below we’ve summarised the key features you should look out for before downloading a penny stock app. 

  • Range of penny stocks. Not all brokers allow you to access penny stocks but some do. The ones that don’t sometimes offer ‘cheap stocks’ that trade under $5. You should check what shares are available on the app you choose to download. 
  • Fees. Buying and selling penny stocks isn’t free. You’ll likely incur some costs like commissions and spreads. THere’s also deposit and withdrawal fees to think about. You can check your broker’s fee schedule prior to downloading an app. 
  • Reliability. Penny stocks are notoriously volatile markets so you’ll want to make sure the app you choose is reliable. If an app crashes or goes down a lot, it could make your trading or investing much more difficult. 
  • Speed. If you’re planning on trading penny stocks then an app that has good connectivity and speed is a must. Markets can move fast so you’ll want to make sure any app you use can keep up. 
  • Other assets. Most penny stock apps let you trade other assets. If you want to invest in other markets like forex, indices, or commodities, then you should check with your broker if they are available. 
  • Security. The best apps offer additional security features. Things like 2FA can help keep your account safe with the requirement of a one time passcode when logging in. Apps can also make use of mobile device unlocking features like fingerprints. 
  • Technical tools. Using technical indicators is a good way to analyse price charts and can help with timing your trades or investments. Make sure you check with your broker what type of technical tools are available.

Should I use a penny stock app?

If you invest in or trade penny stocks then using an app could be a good idea. Apps make it easy to check up on your portfolio while on the go although they do have some limitations which can make trading difficult. The size of the screen you have on your smartphone or tablet is smaller than a computer or laptop which can make chart analysis more difficult. 

What are the risks of using a penny stock app?

Using a penny stock app is generally safe, although investing in and trading penny stocks is considered a risky strategy. Below we have included the benefits and risks of using a penny stock app


  • Free to download
  • Access to other assets
  • Demo accounts available
  • Potential for large profits


What are the fees for using a penny stock app?

Using a penny stock app is usually free although investing in and trading comes with some costs. Some apps charge commission for each transaction you make and all brokers charge spreads (the difference between the buy and sell price). Before signing up for a penny stock app it’s a good idea to check your broker’s fee structure. 

Methodology: How did we choose the best penny stock app?

Each penny stock app listed on this page was evaluated following a strict process. Our investment experts tested each app and considered a number of factors when making rankings. These included, downloading an app, registering an account, searching for penny stocks, buying and selling stocks, and depositing and withdrawing money. 

During our comparison of each app we used online reviews as well as our own research. Each app on this list has its own in depth review on Invezz. Our rankings and reviews are not influenced by brokers however we may earn an affiliate commission if you click on a link and register an account. 


What is the best penny stock app overall?
Is it risky to use a penny stock app
What is a penny stock?
Why don’t more brokers list penny stocks?
Where can I find the best penny stock apps?

Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Prash Raval
Financial Writer
When not researching stocks or trading, Prash can be found either on the golf course, walking his dog or teaching his son how to kick a… read more.