If, however, you believe a penny stock to be one trading under 5$, then yes you can buy them on RobinHood. I would recommend making sure you have a trading strategy before jumping into the stocks under 5$ or any stock for that matter. read more
Robinhood won’t run advertising. Broker-assisted phone orders will cost $10. You can only buy stocks at present but can’t sell them short; when other asset classes (such as options) are introduced, it is likely that Robinhood will charge commissions. read more