How To Buy Penny Stocks On Scottrade Apr 2026

To buy penny stocks (typically shares under $5) using the successor platform, follow this guide for as of April 2026. 1. Set Up Your Trading Account

Choose "OTC" for unlisted stocks or "NYSE/NASDAQ" for listed penny stocks.

If you were a Scottrade user, log in to the Schwab Welcome Page using your migrated credentials. how to buy penny stocks on scottrade

Penny stocks can be traded in standard individual brokerage accounts or IRAs, though retirement accounts have stricter margin limits.

Since , you cannot buy stocks directly through their platform today. Scottrade was acquired by TD Ameritrade in 2017, which was subsequently acquired by Charles Schwab . All former Scottrade accounts have since been transitioned to Schwab. To buy penny stocks (typically shares under $5)

Prioritize companies in the OTCQX or OTCQB tiers, as they have higher financial reporting standards than "Pink Sheets". How to Navigate OTC Trading | Charles Schwab

Look for tickers with at least 50k–100k daily share volume to ensure you can exit the position. If you were a Scottrade user, log in

Navigate to Research > Stocks > Stock Screener on Schwab.com . Apply Filters: Price: Set to "Last Price < $5".