tag:blogger.com,1999:blog-754894216207950592.post272815914970486966..comments2024-03-20T15:55:23.392-07:00Comments on NoNameStocks: Brokerage Firms, OTC Markets, and Dark CompaniesDan Schumhttp://www.blogger.com/profile/05728696891530868697noreply@blogger.comBlogger26125tag:blogger.com,1999:blog-754894216207950592.post-91856724528935055812020-11-07T14:34:02.210-08:002020-11-07T14:34:02.210-08:00I have been able to transfer OTCQB from the transf...I have been able to transfer OTCQB from the transfer agent to Charles Schwab the only issue is the stock has to be at $5.00 or more. The stocks have to be free of trade with no restrictions and they can accept it. I know that Fidelity will also accept them but they are tricky they accept them first but then they blocked my shares so I ended up transferring to Schwab. A more small broker is Wilson and Davis they are the ones who act as a brokerage firm for Glendale securities more expensive but they can do it. I hope this helps.otto videshttps://www.blogger.com/profile/00282678483195899440noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-10877290301418618352020-10-03T14:00:40.849-07:002020-10-03T14:00:40.849-07:00From what I have read and now understand is the re...From what I have read and now understand is the reason these brokers allow share purchase and sales after you have an account but not allow shares to be transferred in is because of "ghost shares". I'll let you read up on that, The general idea is they would be responsible for the shares transferred into an account and the shares may not legitimately exist. If they are the ones that executed the trade they can control whether or not the shares are actually there to be held. I used Scottrade that got sold into TDAmeritrade. I have no issues whatsoever with any stocks included shares of PRED which were basically taken off quote completely. I did have to call in to sell them manually. They handled it with standard charges.Duanenoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-44195617792964870742020-09-30T11:38:47.652-07:002020-09-30T11:38:47.652-07:00This post is extremely helpful. Thank you so much ...This post is extremely helpful. Thank you so much for taking the time to record and share your findings. However, I have called most of the brokerage firms on the list and have still not had any luck. Nobody is willing to accept an OTCQB stock certificate or an electronic transfer of the shares. I am still waiting to hear back from PlaceTrade so fingers crossed. If you have any new information or advice I'd greatly appreciate it. Not exactly sure what to do at this point. Anonymoushttps://www.blogger.com/profile/05570695786221202356noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-9949133288988752012019-06-22T15:45:52.864-07:002019-06-22T15:45:52.864-07:00Update: I have transferred my PennTrade accounts t...Update: I have transferred my PennTrade accounts to Schwab and they all went through. <br /><br />http://www.nonamestocks.com/2019/06/my-brokerages-fidelity-schwab-etrade.htmlDan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-2580509218479494552018-10-01T13:40:11.996-07:002018-10-01T13:40:11.996-07:00A friend of mine just told me a few days ago that ...A friend of mine just told me a few days ago that he successfully transferred over a Roth IRA account in kind into Schwab with OTC stocks under $5. You could try themDan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-68762341931195877632018-09-27T13:00:16.764-07:002018-09-27T13:00:16.764-07:00Good luck. I hope you find a placeGood luck. I hope you find a placeDan Schumnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-57785388894046850672018-09-27T12:40:39.628-07:002018-09-27T12:40:39.628-07:00This post is SO HELPFUL!! I've been doing rese...This post is SO HELPFUL!! I've been doing research on this and have yet to find my answer until running across your blog. I was beginning to just think there was no hope for our <br />OTC shares being transferred in, but this gives me a little hope! Hopefully some of the companies that you mentioned do take transfers in, still do. I am contacting them now.<br /><br />Thanks so much for this post!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-81441471308464841222018-08-31T04:03:58.428-07:002018-08-31T04:03:58.428-07:00ouch on Merrill! That stinksouch on Merrill! That stinksDan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-34966810230090254962018-08-09T13:57:10.733-07:002018-08-09T13:57:10.733-07:00Might want to update Merrill Edge, they changed th...Might want to update Merrill Edge, they changed their policy. You cannot buy OTC stocks under $5 and/or under $300 million market cap as of 7/31/18. You have to be sold out of those positions by 9/30/18.<br />Richy Richhttps://www.blogger.com/profile/13495652593908860456noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-52104617105364301862018-05-15T15:18:40.121-07:002018-05-15T15:18:40.121-07:00Please explain further.
I don't see how it ca...Please explain further.<br /><br />I don't see how it can be "virtually impossible" because I have successfully transferred many OTC stocks inside 5 different accounts from Fidelity and Optionshouse into T Rowe Price then from T Rowe Price into Penntrade. Most of my stocks are OTC and there were zero problems with any of these transfers. Dan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-17402170215576725792018-05-15T15:02:23.130-07:002018-05-15T15:02:23.130-07:00The reason they are not allowing the transfer is t...The reason they are not allowing the transfer is they cannot confirm the source of the shares. The problem with OTC is the liquidity will never allow them to cover shares that have been "ghosted". If you want to read something scary look up naked shorting and ghost shares. Larger companies have the same issue but they can work through the phantom shares. Small OTC it is virtually impossible.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-83565893370828267192018-04-22T06:53:14.898-07:002018-04-22T06:53:14.898-07:00PennTrade and T Rowe PricePennTrade and T Rowe PriceDan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-33406398321700868642018-04-22T03:33:31.679-07:002018-04-22T03:33:31.679-07:00Which two Brokers you to transfer? I previously tr...Which two Brokers you to transfer? I previously tried Charles Schwab which they only allow OTC which are $5 and aboveMajhttps://www.blogger.com/profile/04446294167341256427noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-69437066236462454952018-03-29T09:57:24.536-07:002018-03-29T09:57:24.536-07:00Just had a chat with Schwab.
I confirmed they w...Just had a chat with Schwab. <br /><br />I confirmed they will allow to buy and sell OTC stocks, penny stocks, and grey market. That is good<br /><br />I also asked about transfer and they elaborated more on what I was told before. OTC stocks are allowed for transfer but penny stocks are not. Boooo! Any OTC over $5 is OK and any OTC under $5 is not allowed for transfer in kind. Dan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-59029501217050474862018-02-22T14:49:09.525-08:002018-02-22T14:49:09.525-08:00This blog post lists a handful of brokers who told...This blog post lists a handful of brokers who told me they would allow transfers and two brokers specifically that I have transferred info.Dan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-15721510463925523352018-02-22T14:38:50.016-08:002018-02-22T14:38:50.016-08:00Hello,
Did you find a Broker who can transfer your...Hello,<br />Did you find a Broker who can transfer your stocks?? I have the same problem. etrade do not allow transfers from pink sheet. Please if you found any let me know. Thanks<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-77183029077763902702017-05-18T12:34:03.050-07:002017-05-18T12:34:03.050-07:00added an update to the post that I've moved ou...added an update to the post that I've moved out of TRP and into PennTrade. See my other blog post: http://www.nonamestocks.com/2017/05/ive-moved-to-penntrade.htmlDan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-77984984959674068222017-03-19T22:32:00.751-07:002017-03-19T22:32:00.751-07:00I feel your pain. I love the Fidelity site and in...I feel your pain. I love the Fidelity site and interface. It's all so nice other than their fear of these companies. <br /><br />It really shouldn't be so difficultDan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-89774911558674262732017-03-19T15:49:55.801-07:002017-03-19T15:49:55.801-07:00I have Accounts with Interactive Brokers, Wells Fa...I have Accounts with Interactive Brokers, Wells Fargo Investments and Fidelity and only IB let's me trade OTC stocks. I really like Fidelity but found their recent change to no allow buying OTC stocks any more offputting and I have made that clear in several communications with representatives, so far to no avail. I guess this is just too much on the fringe to matter much to them.Clownbuckshttps://www.blogger.com/profile/10229774833219054115noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-86315248573058115822017-02-08T15:35:00.338-08:002017-02-08T15:35:00.338-08:00A reader has informed me that Scottrade will not t...A reader has informed me that Scottrade will not trade grey market. He says they are merging with TDAmeritrade. I am surprised at this since TDAmeritrade and Scottrade both told me they will allow grey market but what can you do. Dan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-46858342238561662952017-01-09T11:38:08.566-08:002017-01-09T11:38:08.566-08:00I just tried transferring a position from Interact...I just tried transferring a position from Interactive Brokers to Etrade and it was rejected because they will not accept Pink Sheet securities on transfer. No problem to buy and sell but will not accept transfers. ccoacheshttps://www.blogger.com/profile/11829135813362066408noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-37697867648060034412016-10-14T09:20:48.831-07:002016-10-14T09:20:48.831-07:00I don't know. You'll have to call them.I don't know. You'll have to call them. Dan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-69098974866930619462016-10-14T08:36:45.789-07:002016-10-14T08:36:45.789-07:00What is the approximate account size you need to t...What is the approximate account size you need to transfer otc into Etrade?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-89648097723052074202016-10-07T12:37:08.979-07:002016-10-07T12:37:08.979-07:00Thank you for sharing all your legworkThank you for sharing all your legworkMhttps://www.blogger.com/profile/17050286584616965815noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-43556711035332225032016-10-05T02:56:46.447-07:002016-10-05T02:56:46.447-07:00I don't think pumping a stock on twitter shoul...I don't think pumping a stock on twitter should be classified as activism.<br /><br />If anything, it is unethical and will hurt a number of people. <br /><br />To the author, I concur, Interactive Brokers aren't letting me purchase anything grey market. Which sucks, because I see value/opportunities that you post but can't ever partake!Anonymousnoreply@blogger.com