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Re: morongobill post# 6

Thursday, 12/06/2012 9:09:33 PM

Thursday, December 06, 2012 9:09:33 PM

Post# of 292
neither ticker is "the right one" as they are both valid, ELI on the Toronto exchange (the company's home exchange) and ELSRF on the US OTC, i.e. over the counter (which is actually, so to speak, a packaging of ELI allowing it to trade in the US).
On iHub whether some Canadian registry company has one, the other, or both discussion boards seem nothing more than an artifact of who started boards.
As for a brokerage, as you look at alternatives just be sure to ask if they have restrictions on penny stocks and look closely at their fee structure. Some brokers, such as those that use Penson or Apex underneath discourage or even disallow OTC, and some just make it prohibitive by having standard commission for only up to 1000 or 2000 shares with added cost per share above that. Most of the major brokerages let you trade the US form of the foreign shares (where the company has established the US form) without any special restrictions or penalties or added costs . . . but some do not and can make it impossible or cost prohibitive. Also, always check what the trade is saying it will have for commission before you issue it, as whether is will be at standard cost or at a different much higher cost depends on the kind of market making the company has contracted to have. Fidelity has one of the lowest standard commissions of the major name retail brokers and no restrictions. That is not to say they are imo the best or most inexpensive of the brokerages I use, just that their cost structure is competitive and service good and they don't play restriction games.