Hi, I am new to investing..I just signed up for E Trade and when I try to buy Penny Stock It Says.. New: Minimum Price Increments for OTC Equity Securities
Effective 2/11/2011, orders for over-the-counter (OTC) securities can be placed at prices greater than or equal to $1/share with a maximum of 2 decimal places. Orders for OTC securities can be placed at prices under $1/share with a maximum of 4 decimal places. Please be aware that orders placed with invalid price increments may be rejected by E*TRADE or the marketplace. For more information, see FINRA Rule 6434.
Does this Mean I cannot buy Penny Stocks on E Trade?
Sorry If this is a stupid question..but Thank you