T.D. AMERITRADE STILL RESTRICTS GOIG PURCHASES! :(
The online broker refuses to allow online purchases of GOIG. One must call a broker to effectuate a purchase. Thus, I wrote (several times), after the Pink Sheets removed the CE, to request the reinstatement of GOIG regarding both online purchasing and selling – which GOIG enjoyed prior to the CE. T.D. Ameritrade responded with a long list of its rights under their contract, allegedly allowing them the "right" to restrict such securities. I responded as follows:
Dear T.D. Ameritrade,
I understand all you wrote below; I understood such terms when I wrote my initial message. Nevertheless, I find the terms unconscionable. Therefore, notwithstanding your below boilerplate excuse for the practice of piss-poor customer service, I again request that T.D. Ameritrade RESTORE the status of GOIG. Unless federal or state securities law expressly dictates otherwise, we - your customers - should have the decision-making power regarding the online purchasing and/or selling of any stock on the NYSE, NASDAQ, AMEX, OTCBB, or OTC Pink Sheets . . . GOIG included!
GOIG is just one of many stocks that suffer from these capricious T.D. Ameritrade-inflicted restrictions, which occur annoyingly often in the microcap securities. Indeed, T.D. Ameritrade is bitter and ill-equipped in providing your customers with much sought-after information (e.g., Level II information in Command Center 2.0) pertaining to microcap securities. This aversion toward microcaps, as well as these capricious restrictions on microcaps, needs to change. Your customers – not T.D. Ameritrade – should enjoy the right to decide whether they desire to invest in any or all legally-traded securities online. That is what your customers want. Finally, it is in these very situations that the venerable adage applies: THE CUSTOMER IS ALWAYS RIGHT.
Sincerely,
James T. Morgan, Esq.
We GOIG longs who have accounts with this broker need step up and send MORE such messages to T.D. Ameritrade until the brokerage pulls its head out.
