I wish I had a rosy picture to paint you but alas we have reality to deal with. A year ago in Sept 2021 the new SEC rule went into place, resulting in the destruction of dark stock trading. Every single online brokerage I know of in the US stopped allowing buys in any dark stocks.
This post is a summary of the few brokerages that still allow you to buy non-filing dark stocks.
If anyone has found a solution please comment or send me an email.Unfortunately I don't have a good solution and personally I cannot buy anything non-filing. All the online brokerages just threw up there hands and said "that's it, we're out" and OTC Markets has become the arbiter of what we're allowed to buy.
I have all my accounts with Schwab which allows the following based on SEC status and OTC Markets tier:
- I can buy or sell online
- SEC Registered
- Pink Current Information
- Pink Limited Information
- I can sell only. No buys allowed
- Expert Market
- Grey Market
Personally I am really burnt out on the SEC and brokerages. I haven't spent much time trying to find a solution other than talking to a lot of people. I know a few who contacted every brokerage they could find similar to what I did in 2016.
Below is the list of options I have heard are available and this list is by no means exhaustive. If you know of more please comment or email me and I'll update. If you are interested I suggest you reach out to these brokerages and ask all the necessary questions.
- Discount online brokerages
- Only allowed if you are not be located in the United States.
- I've heard from several people in other countries they are allowed to open accounts and trade but people in the US are for some reason not allowed.
- To my knowledge this is the only discount online brokerage that allows non-filing stock buys
- Full service brokerages
- These I personally do not want to use mainly because I'd have to call in orders and I hate picking up the phone. These also have higher fees and account minimums. Some may require accredited investor status. Some have commission minimums per quarter or year.
- Centerpoint Securities
- Caldwell Sutter
- Hilltop Securities
- Canaccord Genuity
- Odeon Capital
disclosure: I hate the SEC
Subscribe to all NoNameStocks posts here: https://forms.feedblitz.com/erd