|
Does Ally Invest Allow OTC and Penny Stock Trading?
|
OTC and Penny Stocks at Ally Invest
Key Findings:
• Ally Invest offers trading in penny stocks, OTC stocks, and Pink Sheet stocks.
• There is a commission of $4.95 plus $0.01 per share at Ally Invest for stocks priced below $2.00.
• Ally Invest has a minimum opening purchase amount of $100 per order for OTC and Pink Sheet stocks.
Traders at Ally Invest can buy over-the-counter (OTC) and Pink Sheet stocks. Finding them can be difficult, though.
OTC and Penny Stocks at Ally Invest
With a brokerage account at Ally Invest, it's possible to trade penny stocks and over-the-counter equities. The OTC category includes different market tiers and risk levels. During our research, we found several OTC categories, including:
- Expert Market
- Grey Market
- Pink Limited
- OTCID
- OTCQX
- OTCQB
Penny stocks are generally low-priced securities that trade below $5 per share. Some of these may trade over the counter, while others may trade on one of the major American exchanges, like the Nasdaq. In either case, Ally Invest offers trading in them.
Fees and Minimums
Ally Invest charges $4.95 plus a per-share fee of $0.01 for every trade of a low-priced security below $2.00. This fee is assessed regardless of exchange or market. There is also a $100 minimum opening purchase for OTC and Pink Sheet stocks.
Finding Penny and OTC Stocks
At Ally Invest, it's really easy to find penny stocks. Simply log into the website and head to the investing section (rather than the banking section). On the trading hub, click on the Research link in the top menu and select Screeners in the drop-down window. Now you'll have the search engine for securities. Click on the link for stocks (and not ETFs) to put the search wizard in stock mode.
On the search engine, it's possible to search by closing price. Unfortunately, it's not possible to search by a specific price; you have to select a pre-defined range. For penny stocks, the best choice is less than $10. After selecting this option, you can filter by price and look through stocks priced below that level. Many we found were at $0.00.
The Ally Invest equity scanner does not have the ability to search by exchange, so it's not possible to look explicitly for OTC securities. This is the first downside we will see. You'll need to conduct your research outside of Ally and bring a ticker symbol and enter that on the website or mobile app.
The app also has Ally's equity scanner on it. To find the search engine on the app, log in and tap on your securities account to get to the trading section. Here, tap on the Research tab at the bottom. On the Research page, you'll find the tile for the screener, which has the same features as the web-based scanner.
moomoo as an Alternative
As an alternative, you
can try moomoo, which provides access to many penny stocks, Pink Sheet stocks, and other OTC stocks with $0 commission
(learn more).
moomoo Promotion
Visit moomoo Website
Updated on 6/5/2026.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
|