This is absolutely untrue. Most legacy brokerages (Fidelity et al) will allow you to place orders for IPO shares. It's highly likely you won't get much and poss

This is absolutely untrue. Most legacy brokerages (Fidelity et al) will allow you to place orders for IPO shares. It's highly likely you won't get much and possibly none as the hot ones are often very oversubscribed, but it's very possible. Call your rep and ask.