Waterhouse tops Ameritrade yet again
Maybe that's why hweb2 trades at Waterhouse. At 3:54pm I look over my day's activity and see that my low-ball bid for BWLRF at .58 has not gotten filled. Bobwins has been pounding the table on this one and he's made a strong case that it's not just because it starts with his initials, 'BW'. I see the lowest ask on level2 is 8000 shares from GNET at .605 and 2500 shares from NITE at .605. I know Ameritrade works through NITE a lot, so I figure they'll quickly fill at least 2500 shares at that price. At 3:55 I enter my trade at Ameritrade to buy 5000 shares of BWLRF. 45 seconds pass, and nothing happens. I then enter the same trade at 3:56 at Waterhouse. Immediately 2500 shares execute at .605, and at 3:57 the remaining 2500 shares execute at .605. In the meanwhile I didn't even get a partial fill at Ameritrade and 4pm passes with the order still open. It appears that Waterhouse is the better broker for trading OTCBB stocks. Especially in a fast moving market, efficient and optimal order routing is critically important.
