Best Online Broker TD or scottrade for OTC

[mahendraabc]

Hi,
Which is the best online broket TD or Scotrade for OTC?

[DogDayTrader]

Hi,
Which is the best online broket TD or Scotrade for OTC?

I have heard that neither are too friendly towards the pinks (OTC's). I myself currently have Scottrade and know in the past they have had a long list (120+ at last count) of OTC/PINKSHET stocks that you could either not buy and/or sell. I have not seen the list for a week or so now and can't seem to find it on their site. I sent an email to cust. sup. so we shall see what they say. My hope is that they have stopped placing so many restrictions on the pennies.

While I have no personal experience with them, I hear good things about Zecco allowing you to trade most, if not all penny stocks. Welcome to the site!

[DogDayTrader]

Just recieved an answer to my email to ST regarding OTC, PINK, OTCBB and other stocks traded "over the counter" of not on a major exchange.


EMAIL1:
I can no longer find your long list of stocks with clearing restrictions. Where did it go?

RESPONSE1:
Dear Investor:

Thank you for your e-mail.

Some stocks over $6.00 per share may be held to higher maintenance requirements. You can view this list of stocks under the 'Scottrade Messages' section of your online account.

It is labeled, "Stocks Subject to a Higher Maintenance Requirement".


That having not answered my question, I tried again.


EMAIL2:
Thanks for your response. I am talking about the stocks that were listed on the "Clearing Restrictions" list. There were two lists one that was titled "No Buy/Sell Only" and one that was titled "No Buy/No Sell" they were mostly (if not completely) comprised of pink sheet and OTC stocks like BIEL, ASFX. I can't seem to find the list anywhere.

RESPONSE2:
Thank you for your e-mail.

The list you are referring to has been removed from our web site. We do apologize for this inconvenience.

Please let us know if we may be of further assistance.


Well it looks like ST has removed their "clearing restrictions". I have not yet tried to trade a stock that was on the list so I can't confirm, but it looks like the customer may have won a small victory.

[dlcapo]

Hi,
Which is the best online broket TD or Scotrade for OTC?

I've traded otc's at TD many times trouble free and easy. Have no experience with Scott.

[Skippy]

I think ZECCO is better known as the penny king.The platform is very basic unles you upgrade which i havent so i cannot comment on it. They also dont trade foreign penny pink's. Other brokers possibly do for a fee.

There is also sogo trade.

[austinhitz]

I used to have TD and Scottrade but I currently have Scottrade. Scottrade charges more for OTC stocks but TD has a flat price for OTC. I have noticed that my OTC orders used to get filled faster on Scottrade than TD. I contacted TD about orders getting filled faster on Scottrade and they told me they go through the same process as scottrade for OTC stocks but it just depends how many orders they have to fill. I heard ThinkorSwim is also better but haven't tried it out yet.