Penny stocks—typically defined by the as shares of small companies trading for less than $5.00—can be purchased through most major online brokerage platforms. While some penny stocks trade on major exchanges like the NYSE or NASDAQ , many trade on over-the-counter (OTC) markets such as the OTC Bulletin Board (OTCBB) or Pink Sheets, where reporting requirements are less stringent. Top Platforms for Buying and Trading (2026)
Brokerage fees for penny stocks vary significantly, especially for OTC trades. Many top-rated brokers for 2026 now offer commission-free trading for both listed and OTC penny stocks. 5 Best Free Trading Platforms for 2026 - StockBrokers.com where to buy and trade penny stocks