Replies to post #450 on Money 101 (Money)

[Argyll]

Plastipunk:

Ameritrade penny quotes are occasionally incorrect. I've called them about this a number of times and it's almost immediately updated. There is an occasional problem with the feed. Insist someone check on it because they are _usually_ correct and don't take the answer that "penny stocks are like that."

Different customer reps and brokers know different things. I trade Canadian and found out recently most of the AT brokers were giving me quotes from the wrong Canadian clearing house. Most of them did not know it so I have to tell them whenever I call who I want the quotes from.

There's nothing terribly unusual about this. Bureaucracy is large, things change, and it's a vast marketplace out there. Ask to speak to a supervisor if you don't get the info you want.

I moved from scottrades to lowtrades because scottrades charged extra fees for penny stocks and higher commissions.

I've never had a problem trading any stock on lowtrades. Lowtrades is simply substantially cheaper.

There's usually a delay in using funds because there's a transfer time for ACH funds during which they can be called back, which is several days, just like there's a settlement period on stock trades of three days.

Lowtrades has the shortest hold time but you have to call to do the ACH.

[Superbee383]

I had a problem today with a regular Naz stock "LVLT" Level 3. All afternoon it showed on my Ameritrade streamer that it was up .14, but at the same time, the low of day was highlighted in the day low box. It was correct in my account (down .07), but not on the streamer. The only time it corrected itself, was when I opened the Level 2 window. As soon as I closed it, it went back to showing up .14 with the wrong price.
I don't like that they won't let me buy certain stocks. I was told that they have approx. 30 stocks that we can't buy. One I already own, and they won't let me buy more to average down. The other, I've watched go up from .03 to .10 and can't profit from it.
But I do like that because of the number of trades I do, I was able to negotiate what I pay for commission, to a lower price.