Author Topic: Robinhood for OTC Markets?  (Read 9475 times)

martyconlonontherun

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Robinhood for OTC Markets?
« on: August 14, 2017, 09:34:23 AM »
Love playing around on Robinhood but want to buy some blockchain public companies that are basically penny stocks on OTCQB and other markets.

Is there a way to do this as a small time investor ($20 worth per purchase) without blowing all your money on fees?

martyconlonontherun

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Re: Robinhood for OTC Markets?
« Reply #1 on: August 14, 2017, 11:17:39 AM »
Penny stocks are usually scams.  If someone has called you, emailed you, or contacted you through social media suggesting that you buy one, run in the other direction.

If you are going to buy them make sure you can use a marketable limit order and not just a market order. 

Caveat Emptor.
I was just looking for a way to invest in some block chain companies. It wasn't going to be any more than the entertainment value I would get from them (~$20). I did it through scottrade which required a limit order. Not the smartest investment due to the fees but wanted to try it out to have a "learning experience"

runewell

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Re: Robinhood for OTC Markets?
« Reply #2 on: August 14, 2017, 11:26:15 AM »
I like how they use the term Robin Hood.  Wasn't that all about stealing from the rich to give to the poor?  Isn't that a form of socialism?

toganet

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Re: Robinhood for OTC Markets?
« Reply #3 on: August 14, 2017, 12:08:29 PM »
I like how they use the term Robin Hood.  Wasn't that all about stealing from the rich to give to the poor? Isn't that a form of socialism?


It might be if it were the State doing it, but in this case it's a private entity.



CrispySub

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Re: Robinhood for OTC Markets?
« Reply #4 on: August 14, 2017, 12:16:37 PM »
I wasn't aware you could buy OTC equities from Robinhood.

Even their help center states you can't.

You can trade over 5,000 securities on Robinhood, including most U.S. equities and exchange trade funds (ETFs) listed on major U.S. exchanges.

We do not yet support the following, but hope to in the future:
•Foreign domiciled securities*
•OTC equities
•Options
•Preferred Stocks
•Tracking Stocks
•Warrants
•Mutual Funds
•Bonds and fixed income trading
•Foreign Exchange



Can you trade OTC?

martyconlonontherun

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Re: Robinhood for OTC Markets?
« Reply #5 on: August 14, 2017, 12:47:18 PM »
I wasn't aware you could buy OTC equities from Robinhood.

Even their help center states you can't.

You can trade over 5,000 securities on Robinhood, including most U.S. equities and exchange trade funds (ETFs) listed on major U.S. exchanges.

We do not yet support the following, but hope to in the future:
•Foreign domiciled securities*
•OTC equities
•Options
•Preferred Stocks
•Tracking Stocks
•Warrants
•Mutual Funds
•Bonds and fixed income trading
•Foreign Exchange



Can you trade OTC?

The title isn't the most clear, but I was looking for a service like Robinhood that would allow OTC trades. Something that has minimal support and low commission fees.

CrispySub

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Re: Robinhood for OTC Markets?
« Reply #6 on: August 14, 2017, 05:40:17 PM »
Gotcha.

I would recommend looking into Interactive Brokers, Just2Trade, or anything like that.

Maybe https://investorshub.advfn.com/ has some better ideas.