Seems to me that I've noticed on TD Ameritrade that penny stocks sometime show a weird, non-relavent bid/ask in relation to the actual market price. Maybe others have seen this too and it just happens sometimes? I try to remember to cross reference with other sources when in doubt.
I have TD & Scottrade and might even go for a third broker.
A friend of mine is antsy to trade so he opened an account at TD and found he was unable to trade certain stocks so he set up an account with Scottrade and tried to transfer his funds from TD to Scottrade and TD said it would take a day to complete the transfer as his money was in a mutual fund??? Problem is my friend just put his money in the TD account about 1 day ago and had not executed any trade of any kind, much less buying into a mutual fund. Could it be that some brokers claim a delay in your ability to use the funds so they can grab a few days of interest multiplied by a million of us and still get their trade fee when you do trade. (Is this making any sense yet?)
To make a long story short! I've notice weird things about TD but that is only my observation and I am new to the game so just consider this one person's experience.
I have also notice an inconsistancy with the reasons TD has given different customers as to why they do some of the things they do. Just to be fair, I caught my Scottrade agent not knowing something that I had just learned as a rookie.
Moral of the story. Even the so called pros, brokers, etc., get it wrong sometimes which reminds us all to at least try and do a little DD even if we are inexperienced.
punk
AI
