Replies to post #51186 on Cotton & Western Mining Inc. (CWRN)

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My recent conversations with brokers with Penson is that they won't accept "the old physical stock certificates"(certs)but that little else had changed.

Non-Dtc stocks can be sold but with a surcharge of $95 or more.
Many brokers have followed an unwritten rule for some time against accepting transfer of low priced stocks from other brokers-you can never tell which ones are accepted and which aren't -their own sometimes arbitrary discretion and or proprietary formula.
So simply sell at one broker and buy at another if not otherwise restricted-for they often allow you to buy the same low penny that they won't accept from another broker.
Often reportedly has something to do with their shorting and naked shorting also.

I haven't had the time or inclination to research the DTC issue and was hoping somebody else would research why CWRN was put on non-DTC list and how much longer it might be on such a list.
Even though most brokers don't like pennies they are often not happy with Pensons increasingly strict ways and some will probably find alternate routes to clear such stocks as you mention.

I do get tired of the scare tactics employed by so many-usually with a purpose-knowing that penny traders are scared of so many things because of inability or unwillingness to do dd.

I've been trading very low penny and sub-penny DTC eligible stocks through Penson without any change after the July 17/18 date. And not all brokers who use Penson will have the same policy-as others have reported -even on this board. The brokers can and do negotiate with the clearing houses over such changes.