Where can I deposit a Penny stock traded on the OTC?
I have 127K shares of a penny stock that is trading between $0.06 & 0.07. I do not want to sell right away, but I want to have it in an account. Can anyone suggest a place to deposit this certificate?
Try the brokerage firm where you purchased it, or contact a brokerage firm you would like to use, call them a see if they would accept the stock for deposit into your account.
In the US only broker/dealers will hold your stock in your account for you, BUT most firms do not want to touch them. They are costly to hold let alone trade and clear.
If the stock is in your name, there may be a fee for transferring it out of your name to be held by your brokerage firm. If the stock is not in your name, you will have to show proof of ownership when you submit it for deposit