Sofi penny stocks

Sofi OTC Stocks (Penny Stocks) in 2022


Sofi penny stock fees: commission charged for buying pink sheets/OTCBB bulletin board/gray market/stocks priced under $1. Rules and policy. Can I buy OTC stocks on Sofi?


Can I Buy Penny Stocks on Sofi?


Sofi Invest does not offer investing in penny stocks, pink sheets, and OTC BB stocks. As an alternative, you can use Firstrade that provides access to OTC stocks with $0 commission (learn more).


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Does Firstrade Offer Penny and OTC Stocks?


Firstrade customers have access to the over-the-counter stock market, which includes Bulletin Board equities and the Pink Sheets. While these securities have greater return potential than mega-cap blue chip investments, they also have increased risks.


Selection of Penny Stocks at Firstrade


Firstrade’s equity screener has the ability to search for Bulletin Board stocks, the Pink Sheets, and the Nasdaq exchange. Selecting OTC BB returns 34 stocks. OTC PINK generates 15,989 stocks, and Nasdaq produces 2,724 equities.

The search tool can also look for stocks based on market price. Selecting all stocks $5.00 and under generates 10,376 securities.


Examples


One equity available to Firstrade customers that trades on the Pink Sheets is Airware Labs Corporation (ticker AIRW). Its last trade price was just 6.5¢. Its 52-week range is between one and ten cents. Despite the low prices, there is a lot of interest in this stock with an average daily volume of 24,000 shares traded. There are nearly 150 million shares outstanding, which produces a market cap of $9.6 million.

Another OTC stock that can be purchased at Firstrade is Avidbank Holdings, Inc. It trades with the ticker symbol AVBH. It most recently traded at $21.50. This is near a 52-week high. The stock has an average daily volume of just 6,700 shares; so obviously there is less interest in this stock. Nevertheless, it does have positive revenue growth during the past three years.


Comparison


Firstrade is probably the best broker in the OTC realm, compared to its competitors. Amazingly, it does not charge any commissions or surcharges to buy and sell penny stocks.

Firstrade does not require any account minimum to trade penny stocks. Merrill Edge clients, by comparison, must have at least $25,000 in assets to gain the privilege.

The fact that Firstrade’s screener is able to look explicitly for OTC stocks is an advantage. Some other firms don’t provide this service, including E*Trade and WellsTrade.


How To Buy Penny Stocks or OTC Stocks on Firstrade


When you’re ready to buy your first OTC equity at Firstrade, the process is quite simple. It’s no different than placing an order for a regular stock. Using the broker’s handy trade bar at the bottom of its website is the easiest approach.


Firstrade OTC Stocks


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About the Author
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.