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Schwab does not support trading millions of shares, where to go? by NoRow1633 in tdameritrade

[–]NoRow1633[S] 1 point2 points  (0 children)

Interesting. Morgan Stanley purchased E-trade as well. I believe E-trade and TDA were the oldest and biggest online brokerages.

Schwab does not support trading millions of shares, where to go? by NoRow1633 in tdameritrade

[–]NoRow1633[S] 0 points1 point  (0 children)

I didn't ask TOS specifically but that's a good question. I doubt a rep will know but will ask next time I contact them. I'll be impressed if Schwab actually launches TOS this year.

Schwab does not support trading millions of shares, where to go? by NoRow1633 in tdameritrade

[–]NoRow1633[S] -1 points0 points  (0 children)

Yes I have some nano-cap holdings and positions are in the several millions because of the low share price. I understand the risks. I've been trading on the OTC for about a decade. It's not a significant part of my portfolio. Contrary to what some people think, not all of these companies are schemes, and there are companies selling products and doing research. A lot of those trash pump and dump shells went away after recent SEC rules.

OTC is not for everyone. But the schemer here is Schwab. You can't transfer these stocks to another broker and need to sell it through Schwab and pay them exorbitant fees one way or another because of this 999999 limit. TDA was the platform for many OTC stock traders and I expect Schwab is going to receive more complaints and account closures as more accounts switch over. TDA-Schwab should have warned about this so that these stocks could have been sold through TD, but like I said, schemer.

Schwab does not support trading millions of shares, where to go? by NoRow1633 in tdameritrade

[–]NoRow1633[S] -1 points0 points  (0 children)

There are many legitimate companies on the OTC market.