If you choose Fidelity, you have to speak with a representative over the phone to authorize your account to trade penny stocks before making your first penny stock purchase. It only takes a few minutes. At least, this is how it was when Skelator opened a Fidelity account a while back. E-trade is Great too. I wouldn't go with any other broker for OTC penny & sub-penny stocks. Scottrade is alright but they make you phone in buy orders if the stock moves > 40%.