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Moomoo OTC Stocks (Penny Stocks) Trading (2024)
Moomoo penny stock fees: commission charged for buying pink sheets/OTCBB bulletin board/gray market/stocks priced under $1. Rules and
policy. Can I trade OTC stocks on Moomoo?
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OTC Stocks at Moomoo
Moomoo recently launched trading in over-the-counter stocks. To start trading OTC securities in a Moomoo account, you must first complete a risk disclosure agreement. Once this is done, you can begin trading.
Cost of OTC Equity Trading at Moomoo
Moomoo does not charge any extra fees for OTC stock trades. This includes $0 commissions with no surcharges, other than minimal exchange fees on the sell side.
OTC Trading Hours at Moomoo
The over-the-counter market is open during the same hours as the major exchanges. Moomoo also offers pre-market and after-hours trading for OTC stocks. Overall, trading hours are Monday through Friday from 6:00 am to 5:00 pm, New York time.
Price quotes for over-the-counter instruments are delayed by 15 minutes on Moomoo’s trading platforms.
Availability of OTC Securities at Moomoo
Moomoo doesn’t support trading for every security in the OTC marketplace. Because its equity screener doesn’t allow searches by exchange, it’s difficult to determine exactly how many over-the-counter assets are available for trading. However, both the broker’s desktop platform and mobile app allow you to enter OTC security ticker symbols. If the ticker is available for trading, it will display a profile with trading options.
To find OTC stocks, you can use a screener tool available on the OTC Markets Group website.
Firstrade as an OTC Alternative
If you're looking for more options in over-the-counter trading, consider Firstrade, which has fewer restrictions compared to Moomoo. Firstrade offers a significant number of OTC stocks, more than 15,000, and like Moomoo, does not charge commissions for stock trades and has no surcharges for OTC trades.
Firstrade's website is the best place to search for over-the-counter securities. Hover over the 'Research & Tools' section in the top menu and click on 'Screeners.' On the next page, ensure you're on the 'Stocks Screener' tab.
Firstrade’s equity screener has many search variables, including exchange options for OTC BB and OTC PINK. Since the Bulletin Board was terminated in 2021, this option may not yield tradable results. A search for OTC BB might show some securities, but they won't be tradable. Under OTC PINK, you can find and trade over 15,000 stocks.
You can refine your search results by selecting additional criteria such as market cap, 52-week low, current price, and PEG ratio, among others. These factors can be sorted and are not required in the initial search but can be added later to narrow down the results. The ability to save a scan for future use is also available, which is convenient.
Clicking on a ticker symbol from the list of results will open a profile page for that security, providing detailed information for trading.
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Updated on 7/5/2024.
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.
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