Scottrade no longer exists as a standalone brokerage; its accounts and services were first migrated to in 2018 and are now part of Charles Schwab . To buy Over-the-Counter (OTC) stocks—often referred to as penny stocks—as a former Scottrade client, you must now use the Charles Schwab platform. Steps to Buy OTC Stocks at Charles Schwab
: Schwab and other full-service brokers often require you to accept an OTC Securities Acknowledgment or risk disclosure before you can trade these assets. You can typically do this in your account profile or by contacting a specialist at 888-245-6864 . how to buy otc stocks on scottrade
: When buying OTC stocks, it is highly recommended to use a Limit Order rather than a Market Order. OTC markets often have low liquidity and wide spreads, and a limit order ensures you do not pay more than your specified price. Scottrade no longer exists as a standalone brokerage;