tag:blogger.com,1999:blog-754894216207950592.post1748356774188791369..comments2024-03-20T15:55:23.392-07:00Comments on NoNameStocks: My Brokerages: Fidelity, Schwab, ETradeDan Schumhttp://www.blogger.com/profile/05728696891530868697noreply@blogger.comBlogger20125tag:blogger.com,1999:blog-754894216207950592.post-14369143096447955612021-09-30T08:07:00.323-07:002021-09-30T08:07:00.323-07:00yes I believe that's rightyes I believe that's rightDan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-71582561998126124822021-09-30T07:50:12.524-07:002021-09-30T07:50:12.524-07:00So is the current status that no online brokers al...So is the current status that no online brokers allow trading of these securities?<br /><br />In short, you have to move to a full service broker, with the fees associated with that.Quantum Coinshttps://www.blogger.com/profile/08885665206170416706noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-91434356513642342042021-07-22T09:15:15.002-07:002021-07-22T09:15:15.002-07:00Well it seems Schwab is not going to allow buying ...Well it seems Schwab is not going to allow buying of any dark stocks after Aug 2021. I contacted them today and was told this applies to all their accounts. The person did tell me "Currently there is no waiver for this rule. However this can change as we get closer to the date." when i asked about a waiver but I'm not holding my breath. <br /><br />Summary from the Schwab chat guy: "Schwab will only accept orders to liquidate positions (i.e. no new buy orders) starting late August 2021."<br /><br />https://www.schwab.com/resource/otcexpertmarketDan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-20116786428078325472021-01-23T09:25:27.282-08:002021-01-23T09:25:27.282-08:00TradeStation let me buy FULO (Caveat Emptor) and I...TradeStation let me buy FULO (Caveat Emptor) and I've just put a test bid out on IOMT that was accepted. Having said that they have recently begun to put temporary trading restrictions on me buying/selling certain dark pink-sheets (for my own protection of course!). It's weird because there is no method to their madness, most dark pink sheets they still let me trade including sub-penny trash etc. I spoke to the equity desk about it but they were about as helpful as a chocolate teapot. <br /><br />The best approach, to my mind, is to have two or three accounts with the most OTC friendly brokers and then see what happens. It might be a case of having to pay up for a specialist broker if the current trend continues. david@elementaryvalue.comhttps://www.blogger.com/profile/17740644104181648493noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-14236342704190732022021-01-13T21:18:50.175-08:002021-01-13T21:18:50.175-08:00unfortunately I don't know of any brokerages t...unfortunately I don't know of any brokerages that will allow the caveat emptor after 1/31. <br /><br />I'd bet Glendale Securities mentioned in this post allows it but they're full service. <br /><br />You could try contacting the brokerages who told me they'd allow trading of grey market stocks in this post: http://www.nonamestocks.com/2016/10/brokerage-firms-otc-markets-and-dark.html like for example T Rowe PriceDan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-46216241817794064192021-01-13T10:24:53.409-08:002021-01-13T10:24:53.409-08:00I recieved this same alert. Sucks because Schwab i...I recieved this same alert. Sucks because Schwab is the only broker I use that allowed me to trade Caveat Emptor stocks. Fidelity, eTrade, IB - no. I contacted LightSpeed - no. Do you know of any other brokers that allow trading in these stocks?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-29456354652649130032021-01-10T20:47:09.859-08:002021-01-10T20:47:09.859-08:00IBKR they restrict your pennysocks without a notic...IBKR they restrict your pennysocks without a notice. Getting restricted shares free takes 2 days to 4 week's!!!!<br /><br />Grey, value CE and other OTCs are not tradeable. Also it happens that they only let you sell a stock only or your position can't be sold anymore.highcomhttps://www.blogger.com/profile/15873981883727995209noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-4291217390653240072021-01-03T12:09:06.324-08:002021-01-03T12:09:06.324-08:00The current list of impacted securities (which is ...The current list of impacted securities (which is subject to change) can be found here: <br /><br />https://cs1.schwab.com/track?type=click&enid=YXVpZD0zMjc0OTk5MTkmbWFpbGluZ2lkPTE1OTkyNyZtZXNzYWdlaWQ9ODMxMCZkYXRhYmFzZWlkPTE1MTk0JnNlcmlhbD02NzE1NDA2OCZlbWFpbGlkPURTQ0hVTU1ZQEdNQUlMLkNPTSZ1c2VyaWQ9Y2FtcG4xMjE4MTc1NDk4ODIwYmFjbXJrbHJpN2FhYWQ4eGV4YXZ5YyZ0YXJnZXRpZD0mbW49Nzk5MCZmbD0mbXZpZD0mZXh0cmE9JiYm&&&impacted_securities&&&https://www.schwab.com/caveatemptorDan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-385133194841519382021-01-03T12:08:35.414-08:002021-01-03T12:08:35.414-08:00update on Schwab. I received an email they will s...update on Schwab. I received an email they will stop allowing purchases of OTC Markets "skull and crossbones" caveat emptor stocks after Jan 31, 2020. Can still sell and hold but no longer buy. It's sad<br />-----------------------------------------------------------------------------<br />By January 31, 2021, Charles Schwab & Co., Inc. (“Schwab”) will restrict orders in Caveat Emptor designated OTC securities to liquidating trades only. Closing trades will continue to be allowed after this time.<br /><br />Why is this change happening?<br />A Caveat Emptor security is a designation the OTC Markets Group places on a security after a determination was made surrounding the company that there may be potential risk to investors which may include:<br />• a potentially misleading or manipulative stock promotion,<br />• known investigation of fraudulent or criminal activity committed by the company or insiders<br />• regulatory trading suspensions or halts,<br />• disruptive or undisclosed corporate actions, and/or<br />• other reasons related to the public interest.<br />Caveat Emptor securities have the potential for illiquid and highly volatile conditions. A skull and crossbones icon is placed next to the stock symbol.<br /><br />We are notifying you as you may have traded in or held positions in securities of this type within the past 12 months.<br /><br />What does this mean for your account?<br /><br />By the end of January, any positions held that are impacted by the Caveat Emptor designation will be set to liquidating transactions only and no opening transactions will be allowed for these securities. Any existing opening orders will be canceled but you may close out any open positions or continue to hold. You will not be allowed to add any new positions in these securities unless the Caveat Emptor designation is removed by OTC Markets Group.Dan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-51623006756907229732019-07-16T09:33:38.407-07:002019-07-16T09:33:38.407-07:00I use IBKR, they take a very aggressive position o...I use IBKR, they take a very aggressive position on orders that could be "manipulative"; you end up having to use the chat to have them allow your limits all the time. But I've never had an issue with them allowing the orders. And the commissions are _dirt_ cheap.@jamescgibsonhttps://www.blogger.com/profile/02825751507224946978noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-34099162545692146942019-07-06T20:47:40.693-07:002019-07-06T20:47:40.693-07:00The exchange shouldn't matter. Fraud is every...The exchange shouldn't matter. Fraud is everywhere. Evaluate each case individually.Dan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-67878081676259743022019-07-05T08:27:07.934-07:002019-07-05T08:27:07.934-07:00I tried to transfer some IOMT (grey) and PRAC (no ...I tried to transfer some IOMT (grey) and PRAC (no info / stop sign) into TradeStation, from Penntrade, and as predicted by Dan's research, they didn't accept it. FYI :)Jaapnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-67360476853370749522019-07-03T01:29:55.524-07:002019-07-03T01:29:55.524-07:00I am wondering however if it makes sense to buy st...I am wondering however if it makes sense to buy stocks on the grey market. Basically, e.g. there is no protection against fraud by the major shareholder or management because the stock is dark. Further, it is possible that trading will completly stop one day. In this case, the stock is usually a cero. Michuhttps://www.blogger.com/profile/03414971091277943787noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-27465863531484410352019-06-28T02:11:09.250-07:002019-06-28T02:11:09.250-07:00Great tip, thanks David! Just completed an applica...Great tip, thanks David! Just completed an application with them :)Jaapnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-48074065983913328712019-06-27T11:08:57.282-07:002019-06-27T11:08:57.282-07:00I'm currently using TradeStation after it was ...I'm currently using TradeStation after it was recommended to me by Jan Svenda. Thus far I'm pretty happy with it. They allow the purchase of dark pink sheets and grey market stocks, trading fees are pretty low and there is no minimum account balance. They also accept international clients which was good for me since I'm based in the UK. david@elementaryvalue.comhttps://www.blogger.com/profile/17740644104181648493noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-60919792765599882672019-06-23T16:23:43.575-07:002019-06-23T16:23:43.575-07:00Yeah I don't know what exactly kicks a stock o...Yeah I don't know what exactly kicks a stock onto the grey market. <br /><br />Here's the definition from otcmarkets.com, "Grey Market, "OTC" or "Other OTC" is a security that is not currently traded on the OTCQX, OTCQB or Pink markets. Broker-dealers are not willing or able to publicly quote OTC securities because of a lack of investor interest, company information availability or regulatory compliance."Dan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-74010275088310978742019-06-23T01:04:55.789-07:002019-06-23T01:04:55.789-07:00I dont understand when a stock goes to the grey ma...I dont understand when a stock goes to the grey market. E.g. I hold the pink sheet stock HERB, which is completely dark. It seems that this stock is not on the grey market, because I can still trade it with IB. <br />On the other hand, STVVY on pink sheet is dark and on the grey (so called value) market and IB does not allow trading anymore. I could also buy HAUP at IB, which is completly dark, so it seems that this is not on the grey market as well. <br />So it is unclear when a stock is transferred to the grey market. Michuhttps://www.blogger.com/profile/03414971091277943787noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-53959578879454022232019-06-22T16:38:08.914-07:002019-06-22T16:38:08.914-07:00I also remember hearing they would not allow a buy...I also remember hearing they would not allow a buy order if there was no current ask on the stockDan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-43313259446710226982019-06-22T16:37:15.019-07:002019-06-22T16:37:15.019-07:00I've talked to them. Never had an account the...I've talked to them. Never had an account there. They don't allow grey market stocks (SIMA, IOMT)Dan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-21484189970023106312019-06-22T16:28:09.266-07:002019-06-22T16:28:09.266-07:00Have you tried interactive brokers? Have you tried interactive brokers? Anonymousnoreply@blogger.com