Selecting the best stock broker can be critical to your long-term success in trading penny stocks. A good penny stock broker will play an important role in the efficiency of your execution as well as providing market color and dependable guidance in the over-the -counter markets where most penny stocks trade. But how can you figure out who is the ideal penny stock broker to fulfill your needs?

This is a common question asked by many investors and while it can be a daunting task, you can keep it fairly plain through careful study and efficient planning. The best way to conduct research, if you do not have any personal connections with people that can recommend a broker based on their experience, is to use the world wide web but first, you have to realize what a stock broker does to help a trader succeed. Here is a quick look at the roles played by brokers:

- Executes all orders.

- Directs an investor.

- Provides vital information to the investor.

- Helps to avoid dangerous stock investments

There are two main components to consider when selecting any stock broker: price and level of service. While many penny stock investors simply want to select the on-line broker or firm that charges the lowest commission rates, there is a relationship between price and level of service that must be analyzed and weighed in order to make the best decision for yourself. This relationship changes based on the type of investor you are and when you consider the fact that commission rates can change frequently so if price is your only criteria for selecting a broker, you may find yourself switching brokers quite often.

There is a wide range of stock broker types that you can choose from but we will cover the basic ones to keep things simple. There are full service brokers and discount brokers, each of which generally charges different levels of commission rates. Regardless of commissions however, finding the type that is best for you is essential to your trading success.

Full service brokers are usually a good choice for new investors as they offer the most market information and deliver face to face counseling to investors. During counseling sessions, they study the trading goals of investors and create an appropriate plan on the basis of their individual requirements. While this type of broker charges higher commissions, this can be fine for a new investor who requires extra guidance. Also, finding a full service broker for penny trading can be difficult, but not impossible. For best penny stocks, you may just want to use an online discount broker, since the commission will most likely be too high to justify it.

A discount broker will usually be the best choice for the casual investor who invests with moderate capital and does not execute trades very frequently. Usually this type of investor does not require much advice and will usually invest in blue chip stocks and other safe, standard investments. The lowest commissions are charged by the discount brokers. This can also be beneficial to the penny stock traders that have some experience or do not require much information on the market.

Remember, when searching for a broker that fits your specific needs, you need to realize which type of investor you are and try to strike the best balance possible between the price you pay in commissions and the level of service that you receive.

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