i know the question wasn't directed to me but i've had this happen to me before with Scottrade... i.e., penny stocks restricted. only with a twist, i would have a given stock restricted some days and other days not. when asked why, the explanation was that some stocks are restricted for a variety of reasons but usually it has to do with volume or availability. tip: i discovered a couple work arounds to this issue. 1) i enter my limit orders pre-market with a minimum of shares way below the bid. then i can modify or cancel the order at will. 2) if #1 doesn't work, i call in the order. i usually have them open several orders while i'm at it. again, the orders are for a minimum number of shares way below the bid. once they're entered i'm then able to do same as method #1. GLTY... YMMV
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