Penny stock stop loss

[jas1n]

I have scottstrade but they do not allow a stop loss on penny stocks. Is there a law that states there cannot be a stop loss on a penny stock or is this just a scottstrade thing.

[MaryKay1965]

I have scottstrade but they do not allow a stop loss on penny stocks. Is there a law that states there cannot be a stop loss on a penny stock or is this just a scottstrade thing.

Not sure about a "law." I have a Zecco account and they allow stop prices as well as stop limit prices (on penny stocks.) They even have informative "webinars" teaching you how to use these two and what the difference is between them.