Best Online Brokers for Trading Penny Stocks. Here are the best brokers for trading penny stocks, based on 29 variables. TD Ameritrade - $6.95 per OTCBB trade; Fidelity - $0 per trade; Charles Schwab - $0 per trade; Interactive Brokers - $.005 per share; TradeStation - $0 per trade (up to 10,000 shares) Trading Canadian penny stocks is where you’ll encounter profits unheard of when trading on the major exchanges. 100% to 200% daily gains are not outside the norm. In fact, prior to the Government of Canada putting trading restrictions on your Tax Free Savings Account, some people made a fortune absolutely tax free. To buy penny stocks in Canada, you will need to deal with a broker, and the most cost efficient way to do that is through an online brokerage. For 2018, my top choice for online brokerage is Questrade, due to their low overall fees and ETF accessibility. In fact, by using my exclusive link, you can earn $50 in free trades by signing up here.