Thanks, I did open a Fidelity account, they said they will transfer what they can. I went to the PO today and sent TDA this certified response ...man my life is a nightmare all of a sudden!
May 3, 2023
Dear TDAmeritrade: I have received your letters April 27th dated April 20th about your intention to close my accounts #### and my IRA ####. There is no explanation given as to why you are ending our business relationship and I received no warning that you were going to restrict my buying which has cost me loss of opportunity to buy tech stock options before the earnings reports.
I have searched extensively to find another broker who will allow my transfer out of TDA but none will allow the transfer of all my OTC stock positions, I will be trying to transfer to Fidelity soon but even then I think Fidelity will not allow the transfer of my OTC Caveat Emptor(CE) and Expert Market(EM) positions that TDA has allowed me to purchase with my TDA Accounts.
Let this certified letter to you serve as official notice to TD Ameritrade NOT to liquidate my accounts for any reason as this would cause me significant long term losses and DO NOT send me stock certificates because like TDA no other broker I can find will accept stock certificates of OTC CE and/or EM tickers. Even if you receive notice from Fidelity stating it's OK to liquidate my stock positions for transfer consider it as a mistake by Fidelity and under no circumstances am I authorizing any sale, liquidation, or stock certificate conversion of my stock position holdings in my accounts with TD Ameritrade which would be a clear violation of TDA's fiduciary duties.
I did purchase many of these positions through TD Ameritrade prior to the SEC's CE and EM buying ban in Sept 2021 and now they cannot be bought back. So if Fidelity won't accept the transfer of these CE and EM securities I request to please keep my TD Ameritrade account open at least for the closing of these CE and EM positions since it was TD Ameritrade who allowed me to buy these stocks in the first place. You have already cut off my ability to buy with no warning.
It is my assumption, unless you disagree and can provide a written explanation, that the recent purchase of TDA by Charles Schwab has caused you to end our business relationship most likely because of the many number of OTC CE and EM positions I currently own in my TDA accounts.
Sincerely, ####