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GreekInvestor

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GreekInvestor

Re: eyeforthedeal post# 13798

Tuesday, 05/29/2012 7:37:53 PM

Tuesday, May 29, 2012 7:37:53 PM

Post# of 105600
Open a WellsTrade account with Wells Fargo... You will need to complete a transfer of assets form most likely. In the process now myself. Takes 7-10 business days to complete the transfer. I will follow up once it is finished.

Most firms do not allow transfer (electronic or paper) of assets under $1.00 share price (E-Trade, Scottrade). Fidelity used to allow it until April 2nd when policy changed on small-cap transfers. Minimum share price is .75 at Fidelity now. Something to do with risk management... Funny how it's acceptable to buy Baltia and much more risky small-caps on the open market with these brokerages but transferring suddenly changes 'the risk'? Sounds more like 'no commissions' so they changed policy to match the other firms.

E
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