Whether you are a novice investor or a professional trader, PennTrade offers a comprehensive suite of tools to meet your trading & investing needs.Trade both US & Canadian Markets
With PennTrade you can trade US stocks, warrants and ETFs listed on NYSE and other exchanges such as NASDAQ, OTCBB and Pink Sheets, as well as Canadian stocks and warrants listed on TSX, TSX Venture and CNSX exchanges.
Low $1,500 Minimum Deposit
Only $1,500 equity is required to open your PennTrade account. This initial deposit can be met with cash, equivalent securities or any combination of the two.
Trade Listed US stocks for as little as $19.95 and Canadian stocks for only $34.95.
Interest on Cash Balances
As a benefit to our customers, PennTrade pays interest on credit balances. Simple interest is calculated on the entire daily balance and is credited to the account monthly. Cash and credit balances in your cash account can be automatically swept into an interest bearing account.
Free Check Writing
In addition to interest bearing accounts, PennTrade offers free check writing. A $5,000 initial balance is required to receive checking privileges.
SIPC & Additional Coverage for Client Accounts
Our clearing firm, RBC Correspondent Services, is a division of RBC Capital Markets, LLC. RBC Capital Markets, LLC, is a member of the Securities Investor Protection Corporation (SIPC). SIPC is a nonprofit membership corporation funded by its member security broker-dealers. SIPC protects the securities clients of its members in the event of the failure of a member firm. Member of SIPC, which protects securities customers up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.
RBC Capital Markets, LLC, has purchased an additional policy that offers coverage in excess of the protection provided by SIPC. This coverage covers additional securities and cash protection up to $99.5 million per client, of which $900,000 may be in cash. A $400 million aggregate limit applies to this additional coverage.
RBC Capital Markets, LLC, also offers protection if a client's securities are missing because of theft by an outsider, computer fraud or theft by an employee for personal gain. In such cases, the firm's CAN$310 million Financial Institution Bond coverage would cover the client's losses, subject to that policy's terms, conditions and limits.
Note: Neither SIPC protection, nor protection in excess of that offered by SIPC, covers a decline in the value of a client's assets due to market loss.