Not entirely. Etrade at .0031 is me. Been there for quite some time. Problem is NITE keeps stealing my shares whenever people sell. I even asked TD what's up. This is what they said:
"Regulations do prohibit OTC security dealers from trading ahead of orders in their own book. However, this does not prevent a different dealer from trading at, or even through an order at another dealer. Therefore, at times you may see trades above and below your limit price while your order remains open. Factors leading to a trade printing through your price may include, but are not limited to, volatility, pressure on inter-dealer communications, the size and type of the transaction, and the accessibility of markets and quotation sources.
There is no national market for penny stock. Your order is exclusive to the market maker that has your order. As a general rule you are not due a fill when buying until the ask price drops down to your limit price."
"The main thing to remember is these do not trade like a Nasdaq or Listed stock. You buy off the ask and sell off the bid. The difference is the spread and how the market makers make money to trade these. If they don't make money, no market maker will trade them."
