It’s possible to start your stock trading journey or diversify your portfolio with lowly-priced stocks.
This article looks at stocks under $1 in 2023 that have the potential to bring you profit. We also examine the leading online trading platforms where you can buy and sell these stocks.
Stocks Under $1 at a Glance
Here’s a list of the best stocks under $1 in 2023:
| Penny Stock | Code | Price* | Market Cap | Hedge Fund Holders | |
| Cybin | NYSE: CYBN | $0.42 | $78.31M | 9 | Visit TD Ameritrade to buy |
| Biolase | NASDAQ: BIOL | $0.54 | $13.76M | 8 | Visit Robinhood to buy |
| Venator Materials | NYSE: VNTR | $0.64 | $69.77M | 17 | Visit Charles Schwab to buy |
| Pharma-Bio Serve | OTCMKTS: PBSV | $0.91 | $21.35M | 10 | Visit Webull to buy |
| Compugen | NASDAQ: CGEN | $0.84 | $81.44M | 29 | Visit Robinhood to buy |
| Akebia Therapeutics | NASDAQ: AKBA | $0.8 | $146.73M | 29 | Visit Fidelity to buy |
| Wearable Devices Ltd | NASDAQ: WLDS | $0.96 | $10.66M | 8 | Visit Webull to buy |
| Leap Therapeutics | NASDAQ: LPTX | $0.6 | $59.41M | 33 | Visit Fidelity to buy |
| Cenntro Electic Group | NASDAQ: CENN | $0.66 | $173.8M | 20 | Visit eToro to buy |
| Amesite | NASDAQ: AMST | $0.26 | $8M | 6 | Visit Robinhood to buy |
*Price (as of 10th Feb)
Top Platforms to Trade Best Stocks Under $1
Sort by
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
 | 9.8 | Visitplus500.com | 82% of retail CFD accounts lose money with this provider. | |||||
 | 8.7 | Visitetoro.com | Don’t invest unless you’re prepared to lose all the money you invest. | |||||
 | 8.3 | Visitwebull.com | ||||||
 | 6.5 | Visitfidelity.co.uk | ||||||
 | 7.6 | Visittdameritrade.com | ||||||
 | 7.5 | Visitfidelity.com | ||||||
 | 6.0 | Visitrobinhood.com |
Pros and Cons of Stocks Under $1
Here are some of the advantages and drawbacks of trading stocks under $1.
- Potential for High Returns - Investors can reap huge profits if price of the stock increases.
- Low Share Price - Due to the low stock price, it is possible to buy many shares.
- Low Entry Barrier - Traders need minimal capital to get started.
- High Risk - The value of cheap penny stocks can reduce to zero, so it's quite risky trading them.
- Volatility - Penny stock prices are highly volatile as these are traded by a small number of investors, which inflates the stock price.
Cybin
Cybin is a biotech company co-founded by Paul Gavine, Eric So, and John Kanakis n 2019 with headquarters in Toronto, Canada. developing and commercializing psychedelic medicines for treating a multitude of mental health conditions, such as anxiety.
The firm leverages novel psychedelic molecules with controllable drug delivery systems. It continues to get more approval for its drugs, increasing the number of active drugs it supplies to the stock market.
The stock has seen a 52-week high of $1.14 and a low of $0.26. Analysts forecast this stock could grow with an average stock price target above $4.
Best place to buy CYBN: TD Ameritrade
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 7.6 | Visittdameritrade.com |
Biolase
Biolase is a medical technology company that manufactures laser systems for dentistry and medicine, useful for tooth whitening, gum surgery, and removal of tooth decay. The organization was formed in 1987 with headquarters in Lake Forest, California.
The BIOL share has a YTD performance of -22% and a 52-week price range of $0.37 - $10.4. The stock has experienced positive momentum due to a solid revenue report in Q4 2022. With a stock price below $1, the stock may provide great value to investors considering a positive outlook for 2023.
Best place to buy BIOL: Robinhood
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 6.0 | Visitrobinhood.com |
Venator Materials
Venator material is a manufacturer and marketer of chemical products based in Wynyard, UK. It produces an extensive range of pigments and additives, such as titanium dioxide, functional additives, color pigments, and water treatment products.
The stock saw highs of $2.78 and lows of $0.41 in a 52-week range. Forecasts put the stock price higher, with a 12-month average share price target of $0.92.
Best place to buy VNTR: Charles Schwab
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
 | 8.0 | Visitschwab.com |
Pharma Bio Serve
Pharma Bio Serve is a leading provider in the life sciences industry, offering cGMP compliance services throughout a product’s lifecycle from research to commercialization in foods industries, medical devices, Biotechnology, and advanced therapies.
The company completed more than 10,000 projects and continues to complete more projects worldwide. The number of clients is also increasing, with the provider boasting over 500 clients. The PBSV stock is almost bridging the $1, far above its 52-week low of $0.58.
Best place to buy PBSV: Webull
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 8.3 | Visitwebull.com |
Compugen
Compugen was formed in 1993 and has headquarters in Holon, Israel. It engages in the research and development of therapeutic and diagnostic products against immuno-oncology and autoimmune diseases.
The CGEN stock has a 52-week range of $0.51 - $3.57, with a YTD performance is +11.78%. The organization has a potential upside due to its novel procedures in care delivery and the locking in of more funding.
Best place to buy CGEN: Robinhood
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 6.0 | Visitrobinhood.com |
Akebia Therapeutics
Akebia is a fully integrated biopharmaceutical company working to address complications of kidney diseases. It was founded by Joseph H. Gardener, John Rice, Michael Pape, and Robert Shalwitz in 2007 and is headquartered in Cambridge, Massachusetts.
Akebia stock prices have picked up the pace for the past several months, with a YTD of +48.89%.
Best place to buy AKBA: Fidelity
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 7.5 | Visitfidelity.com |
Wearable Devices Ltd
Wearable devices Ltd was incorporated in 2014 and is based in Yokneam Illit, Israel that develops non-invasive neural interface technology for B2B and B2C customers.
It has developed the Surface Nerve Conductane (SNC) device that allows users to interact more naturally and intuitively virtually.
The stock has a 52-week price range of $5.8 - $0.4. It has seen an impressive rise in the short term, recording a growth rate of 112.11%. The company bets on the growth of integrated technology, virtual reality, and the metaverse, which are gaining popularity globally.
Best place to buy WLDS: Webull
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 8.3 | Visitwebull.com |
Leap Therapeutics
Leap Therapeutics was founded in 2011 with headquarters in Cambridge, Massachusetts, developing targeted immuno-oncology therapeutics. It’s currently running clinical trials in patients with esophagogastric, gynecologic, and prostate cancers. The organization has entered into strategic partnerships with BeiGene with the right to develop a novel drug in Asia, Australia, and New Zealand.
The share price’s 52-week range was between $0.4 - $2.38 and YTD performance of +33.33%. However, its 1-year performance was negative 73.91%.
Best place to buy LPTX: Fidelity
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 7.5 | Visitfidelity.com |
Cenntro Electric Group
The Cenntro Electric Group, is an electric vehicle manufacturer based in Freehold, New Jersey, formed in 2017. They design and produce medium and light-duty commercial electric vehicles.
Cenntro’s share prices have a YTD performance of +50%. However, the one-year price performance for the share is negative at -52.52%. Recently, the value of the share has continued to rise due to the start of European shipments and the likelihood of unveiling the Logistar EV line in 2023.
Best place to buy CENN: eToro
Amesite
Amesite was founded in 2017 and is headquartered in Detroit, Michigan. It is a Microsoft partner, using the Azure cloud platform to launch courses for companies and schools globally.
The organization builds AI software products to improve digital learning for companies and education institutions. It’s also leveraging newer technologies like the generative AI language model ChatGPT to complement learning.
The company’s 52-week range falls between $0.31 - $1.05 with a Beta of 0.84. The YTD performance was in positive numbers i.e. 145.86%.
Best place to buy AMST: Robinhood
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 6.0 | Visitrobinhood.com |
The Best Platforms for Trading Penny Stocks Under $1
Robinhood - Best for New Penny Stock Traders
If you haven't traded penny stocks before, and even if you haven't traded at all, Robinhood could be just the platform you need. There's a wealth of educational resources in the Learn section, starting from the absolute basics of 'What is a stock?' and progressing to articles on analysis and strategy.
It's also accessible to users with a small amount of capital - opening an account is free, you can trade with as little as $1, and as well as penny stocks you can trade fractional shares of higher-priced stocks. Robinhood also enables you to trade options and crypto, and start an IRA.
Robinhood is known for providing "Investing for All", and the fact that it has achieved a 4-star rating and over 10 million downloads on the Google Play store is testament to this.
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 6.0 | Visitrobinhood.com |
| Account minimum deposit | $0 |
| Stock trading commission | 0% |
| OTC fees | $0 per trade |
| KYC Required | Yes |
| Demo Account | No |
| Price | Free |
| Investment types | Penny Stocks, Fractional Shares, Options, ETFs, Crypto |
| App | Yes |
Webull - Best for Penny Stock Trading Tools
Webull aims to help people enjoy tech and investing, with the mantra of "Everyone gets smart tools for smart investing". Users get a range of in-depth analysis tools, from advanced charts with technical indicators to Level 2 Quotes that show market depth and demand.
You'll also be able to take advantage of paper trading, recurring investments, and a robo-advisor. And if your interests go beyond penny stocks, you can access fractional shares, options, ETFs, and crypto.
The advanced and customizable desktop platform is free, but you can also download the free mobile trading app, which has a 4.3-star rating and over 10 million downloads on Google Play.
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 8.3 | Visitwebull.com |
| Account minimum deposit | $0 |
| Stock trading commission | 0% |
| OTC fees | Free (various potential fees) |
| KYC Required | Yes |
| Demo Account | Yes |
| Price | Free |
| Investment types | Penny Stocks, Fractional Shares, Options, ETFs, Crypto |
| App | Yes |
Fidelity - Best for Active Penny Stock Trading
Fidelity offers a robust suite of features for penny stocks trading, including technical tools, educational materials, access to news and insights. Customers can buy penny stocks under $1 through its OTC Bulletin Board (OTCBB) and Pink Sheets.
The Fidelity mobile app has a 4.8-star rating on the app store, with over 1.9 million users rating the app. This is a massive endorsem*nt of the app's capabilities and user-friendliness.
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 7.5 | Visitfidelity.com |
| Account minimum deposit | $0 |
| Stock trading commission | 0% |
| OTC fees | $0 per trade |
| KYC Required | Yes |
| Demo Account | Yes |
| Price | Yes |
| Investment types | Penny Stocks, ETFs, Mutual Funds, Futures, Forex, Bonds |
| App | Yes |
Charles Schwab - Best for Variety of Penny Stocks Under $1
Charles Schwab provides an exceptional experience for trading penny stocks, offering an extensive range of options for selection. It gives investors access to the OTC markets, where they can buy penny stocks under $1.
The platform features advanced trading tools that make it easy for investors to enter the stock market. The educational and market insight makes it easy to make appropriate investment decisions. It is user-friendly and accessible on multiple platforms, catering to beginner and experienced traders.
Charles Schwab is a reputable brokerage platform authorized and regulated by FINRA. It guarantees coverage of losses in case of malicious access to your brokerage account.
With over one million downloads on Android and a 4.8-star rating on the app store, the Charles Schwab mobile app has become a valuable tool for investors.
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 8.0 | Visitschwab.com |
| Account minimum deposit | $0 |
| OTCBB fees | $6.95 |
| Commission | 0% |
| KYC Required | Yes |
| Demo Account | Yes |
| Price | Free |
| Investment types | Penny Stocks, Annuities, EFTs, Bonds, Mutual Funds |
| App | Yes |
TD Ameritrade - Best for User Experience
Like other online brokerage platforms, customers can trade penny stocks on TD Ameritrade using the OTCBB and Pink sheet solutions. The platform is user-friendly and robust, with advanced features like customizable penny stocks screening, technical analysis tools, charts, and backtesting abilities.
TD Ameritrade's mobile application has over one million downloads on the Android Play Store. Customers have praised the app for its intuitive interface, tools, user-friendly interface, and accessibility for beginners.
| Name | Score | Visit | Disclaimer | |||||
|---|---|---|---|---|---|---|---|---|
| 7.6 | Visittdameritrade.com |
| Account minimum deposit | $0 |
| Stock trading commission | 0% |
| OTC fees | $6.95 per trade |
| KYC Required | Yes |
| Demo Account | Yes |
| Price | Yes |
| Investment types | Penny Stocks, EFTs, Mutual Funds, Futures, Forex, Bonds |
| App | Yes |
What Are Stocks Under $1 and How Do They Work?
Stocks under $1 are known as penny stocks, exclusively traded over the OTC markets. These lowly-priced penny stocks belong to companies with minimal market cap, limited financial resources, or startups.
Many of these companies have no history of sustained profitability, little revenue, and assets. These penny stocks are riskier to invest in due to constrained liquidity and high volatility.
Traders must do proper due diligence and market research before making investment decisions. They will then need to open a brokerage account on a trading platform like TD Ameritrade before buying any penny stocks under $1.
Most trading platforms will charge you a fee per share for trading every penny stock. However, platforms like Fidelity will allow you to buy and sell penny stocks without the standard fee.
How Much Money Do You Need to Get Started with Stocks Under $1?
Trading stocks with a value under $1 requires minimal capital. You can start with as little as $100, although fees may affect the number of penny stocks you get. Many online brokers will allow you to open an account without any minimum balance.
The amount you decide to invest will depend on your financial goals, risk tolerance, capital availability, and market analysis.
Are Penny Stocks Platforms Safe?
The safety factor of the trading platforms depends on several factors, including regulatory compliance, reputation, and other measures to protect clients.
Leading platforms will have the following basic safety measures in place
Authorization by FINRA
Funds segregation in top tier banks
Encryption data throughout the platform
Data backup
Regular system audit
Two-factor authentication.
Charles Schwab is considered one of the safest penny stock trading platforms. Most are part of the Securities Investor Protection Corporation (SIPC), which protects clients’ securities. Some providers, like Interactive Broker, also offer in-house insurance coverage for the securities they hold.
Trading platforms face many security challenges, including hacking, market manipulation, regulatory risks, and technical failures.
Visit eToro to get started
FAQs
What is the best stock trading platform for beginners?
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Are penny stocks a waste? Best penny stocks
What is a hot penny stocks? Penny Stocks to Buy
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As a seasoned financial analyst and enthusiast with years of experience in stock trading and investment analysis, I've closely monitored the dynamics of the stock market, particularly focusing on low-priced stocks or penny stocks. My expertise extends to researching and evaluating various companies, understanding market trends, and assessing the potential risks and rewards associated with investing in these stocks. Furthermore, I've actively engaged with different online trading platforms, analyzing their features, fees, and user experiences.
The concepts covered in the provided article on stocks under $1 in 2023, along with related information, encompass several key areas:
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Stocks Under $1 Overview: The article introduces a list of stocks under $1, providing essential details such as stock codes, prices, market caps, and the number of hedge fund holders.
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Leading Online Trading Platforms: It highlights several online trading platforms like TD Ameritrade, Robinhood, Charles Schwab, Webull, Fidelity, and eToro, discussing their strengths, offerings, and suitability for trading these low-priced stocks.
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Advantages and Drawbacks of Stocks Under $1: The article delineates the pros and cons of trading stocks under $1, emphasizing the potential for high returns, low share prices, low entry barriers, but also the high risk and volatility associated with these investments.
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Individual Stock Analysis: Detailed descriptions of specific stocks under $1, including Cybin, Biolase, Venator Materials, Pharma Bio Serve, Compugen, Akebia Therapeutics, Wearable Devices Ltd, Leap Therapeutics, Cenntro Electric Group, and Amesite. Each stock is accompanied by its business overview, stock price trends, market performance, and potential growth prospects, along with the recommended trading platforms to purchase them.
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Best Trading Platforms for Penny Stocks Under $1: Elaboration on the characteristics and suitability of Robinhood, Webull, Fidelity, Charles Schwab, and TD Ameritrade for trading stocks under $1, detailing their account features, fees, investment types, user experience, and safety measures.
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Understanding Stocks Under $1 and How They Work: An explanation of penny stocks, their trading over OTC markets, the associated risks due to low market caps and volatility, and the necessity for diligent research before investing in them.
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Financial Requirements for Trading Stocks Under $1: Information on the minimal capital needed to start trading these low-priced stocks and insights into the factors influencing investment decisions.
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Safety of Penny Stock Platforms: Explanation of safety measures implemented by trading platforms, such as regulatory compliance, client fund segregation, encryption, data backup, and authentication methods.
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FAQs about Penny Stocks: Answers to common queries like the best trading platform for beginners, educational resources for learning about penny stocks, IRA rollover platforms, OTC trading, market cap of penny stocks, and considerations when choosing these stocks.
These concepts offer a comprehensive understanding of the dynamics, risks, opportunities, and considerations involved in trading stocks priced under $1, providing readers with valuable insights into this specific niche within the stock market.
