Smaller brokers may not have the capability or specialization to short penny stocks, especially when share prices are very low, under $2 per share. Flat Commissions Rates: Trading penny stocks usually involves transacting in large quantities of shares. Buying 1,000 shares of a $0.40 stock costs just $400, Charles Schwab offers the most reasonable penny stock rates of any broker. It’s also a great platform to expand your portfolio outside of penny stocks, too. Its online educational resources are second to none, and it offers 200 commission-free ETFs to help you further grow your portfolio. The Best Penny Stock Brokers