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Buying OTC & Penny Stocks on Wells Fargo (2026)
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Points to Remember
• Over-the-counter securities and penny stocks can be traded inside a brokerage account at WellsTrade or Wells Fargo Advisors.
• Online stock trades are commission-free at WellsTrade, while Wells Fargo Advisors full-service brokerage accounts may charge transaction-based brokerage fees.
• WellsTrade has a user-friendly search engine to find penny stocks.
Overview of Penny Stocks and OTC Instruments at Wells Fargo
Penny stocks generally refer to low-priced, speculative securities, often trading below $5. However, a stock trading below $5 on a major national exchange is not automatically considered a penny stock under SEC rules. Over-the-counter (OTC) stocks, by comparison, trade in the OTC marketplace rather than on one of the major national exchanges, such as the New York Stock Exchange.
Both Wells Fargo Advisors and WellsTrade offer access to OTC stocks and penny stocks. WellsTrade does not permit the purchase of OTC stocks priced below $1.00, although positions and sales are permitted in such assets.
Finding OTC/Penny Stocks at WellsTrade
It’s really easy to find penny stocks at WellsTrade. Simply log into the broker’s website and hover over the Research tab in the top menu. In the drop-down window that appears, select the link for screeners. On the next page, click on the button for the stock screener (and not for the ETF screener).
With the equity search wizard pulled up, it’s time to get down to business. Simply specify a maximum price in the last-price field, and it’s off to the races. We received thousands of results below $5. Unfortunately, there is no method to search specifically for OTC stocks at WellsTrade.
Submitting an Order for a Penny or OTC Stock
At WellsTrade, penny stocks and eligible OTC equities can be entered through the regular stock order ticket. Simply enter the ticker symbol and specify the available trade parameters, such as duration and order type. If a security is an over-the-counter instrument, the order form will show ‘OTC’ as the exchange.
Cost of Trading Penny and OTC Stocks at Wells
WellsTrade charges $0 commissions for online and automated telephone stock trades. Broker-assisted stock trades cost $25.
Wells Fargo Advisors is a different story. Full-service brokerage accounts there use a transaction-based fee structure for brokerage trades, with charges depending on the investment and service arrangement.
Robinhood as an Alternative
If you're looking for an alternative to WellsTrade at Wells Fargo for trading penny stocks and OTC securities, Robinhood is worth considering. Robinhood offers access to select OTC stocks, Pink Sheet securities, and foreign ADRs, although its selection is limited and not all OTC stocks are available. Supported securities can be found by searching for their company names or ticker symbols on Robinhood's platforms.
Robinhood charges $0 commissions on eligible OTC stock trades, although regulatory and other fees may apply.
The broker also offers an intuitive mobile app, straightforward order placement, and easy-to-use charts. These
features make Robinhood an attractive alternative for investors who prefer a simple trading experience.
Learn more about Robinhood OTC stocks trading.
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Visit Robinhood Website
Updated on 10/9/2026.
Chad Morris has been analyzing investment firms for Brokerage-Review.com since 2015. Backed by FINRA Series 65, 66, and SIE credentials, his work reflects a deep knowledge of the retail brokerage industry and digital trading tools.
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