Why do I get this error message when I place an order on a penny stock?
(020275) To place this order, please call a Fidelity representative at 1-800-544-3939.
Don’t waste your time on penny stocks unless you have the time to research them in great detail. Home runs are so few and far between. Still want to move forward? Follow the instructions outlined here to enable penny stock trading for your Fidelity account.
You have to call them in order for them to change their restrictions just like you had to when you asked for premarket hours.
Fidelity also won’t let you open 0DTE options contracts “due to risk of asssignment”. I’m calling next week to see if there’s any way to remove this restriction, but it doesn’t look easy.
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