Thank you for the FACTUAL information, while others rely on rumors and GUESSES! Many I am sure appreciate your facts to clear the muddy waters caused by those with no factual data to back up their statements. Some want to think they know it all and despite the continued facts that some of us post, they want to think they know it all based on hearsay and rumors.
I also appreciate your insights and agree with you entirely on how this is being handled by FINRA and the SEC. Also remember that much of these fees that are being charged are coming from Penson, who has to date not provided any factual data on why they are charging these ridiculous high fees. I have questioned Zecco about this numerous times and all they say is they are just passing along the fees that Penson is charging them and that they can't even give me a set dollar amount they would charge to sell one of these non-DTC eligible stocks, other than it could cost up to $700. What the hell kind of answer is that? There is no reason they could not quote me exactly what it would cost and why!
Now as far as the restrictions put on how much we are allowed to sell on any slow moving stocks under $1, who came up with those restrictions? Again, Penson did and Zecco is not even pushing back to help protect it's clients whatsoever. I strongly believe that Penson is playing a major role in this whole thing and Zecco seems too content to just go right along with it all. Makes you wonder if something really fishy isn't going on here regarding this whole situation!
It is time for the small investor to stand up and fight back and let these firms like Penson, Zecco and others that we are not going to put up with this bs.
I will actively be part of the BOYCOTT ZECCO movement that someone started and will be spreading the word to get others to do the same. This needs to be stopped and stopped now!
Thanks again mate.
Cheers!
