I brielfy opened an account with TD Ameritrade. I was planning to move some select securities from another broker. First I get a call from a guy who is on commission who tries to get me to move everything to TDA. Then, a week later I receive a message saying that their security department won't allow the transfer of one of my stocks because it is a "penny stock." This stock is actually $580 per share! It's a lightly traded OTC (pink list) stock of a very well-run and financially sound regional bank. My conclusion is that if they are that screwed up in their ability to analyze incoming stocks, I don't want anything to do with them. I then transferred the same set of stocks, including the aforementioned OTC bank stock, to Firstrade with no problem. In my experience the two best online brokerage firms are Firstrade and USAA (limited to active duty, veteran or military families).
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