If you open an account with a reputable firm - like TD Ameritrade (or any number of other firms) then you shouldn't have issues. If you need to access money, they normally will either cut you a check, or you can set up your account to transfer cash to another financial institution.

Regardless of where you have your money, if you have to SELL something to get cash then you'll need to wait through the settlement period (T + 3 or trade date plus 3 days).

But you know that penny stocks have enormous risk. Why are you looking at penny stocks?

You should read their account opening FAQ:

https://www.tdameritrade.com/account-typ...

You can remove any amounts you contributed into a Roth at any time, but the earnings ("profit"), above those contributions are taxed severely if you have not reached the age of 59-1/2 and the first Roth account you open is less than 5 years old.

I'm interested in opening an account with TD Ameritade. I would like to open a roth IRA, and maybe play with some penny stocks. Can anyone please share personal experience with this company? Also how do pay out, or actually accessing you money work.

Thank you, this is something very new to me.