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Non- DTC eligible list

 

1
Aug, 2011
Original Post
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Should really start a list of what stocks we cant sell electronically.

CXLT i wanted to sell today but couldnt - without the huge fee to sell.
8 vote(s)

23 Replies

  • Aug 01, 2011 at 1:19PM
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    Member log  Mynock33 Member participation ranking in the ZeccoShare community

    There is a PDF list available but I don't have the link handy.

    Google search for "non-dtc eligible list" or search zecco for it and I'm confident you'll find it in no time.

    I can post the link later this evening if you have trouble.
  • Aug 01, 2011 at 1:53PM
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    Member log  Ezdzit01 Member participation ranking in the ZeccoShare community

    Also I emailed customer service the specific stocks I wanted to check on. They checked on them and replied - and I have it in writing :)
    1 vote(s)
  • Aug 01, 2011 at 2:24PM
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    Member log  d.b.a. Member participation ranking in the ZeccoShare community

    But it's constantly subject to change, so it's safer not to buy penny stocks, especially pinksheets, with Penson.
    3 vote(s)
  • Aug 01, 2011 at 3:53PM
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    Member log  jelize Member participation ranking in the ZeccoShare community

    Yeah this was the last one i was going to wait out to sell at a minimal loss, WAMU did so good for me i can sell at a loss and not care, CXLT is a P&D scheme that i bought when i was 1 week old in trading , i guess i'ma have to eat this loss and deal with it, thanks for the replies but penny stocks are never to be bought by me again
    3 vote(s)
  • Sep 13, 2011 at 4:33PM
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    Member log  JQraze82 Member participation ranking in the ZeccoShare community

    Hey Jelize, I am trying to figure out how big those fees can get for trading penny stocks, how much were they going to charge you to sell your shares and how big was your order? I purchased a bunch of penny stocks before Penson notified me of the fee, I wsn't charged a fee for my purchases but half of my positions are on the non-dtc list so I am affraid to even think about selling. Are the fees really as big as they claim they can be? Do they tell you what the fee is before you execute the trade?
  • Sep 14, 2011 at 8:04AM
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    Member log  Hbomb Member participation ranking in the ZeccoShare community

    Their "list" does not mean ANYTHING. I sold a security on 8/1/11 that was NOT on their list of non-DTC eligible stocks. 5 weeks later they charged me $282 in fees for that transaction. They gave me no warning that this was going to happen!! I have lobbied to get the fees reversed and just found out today that they will not reverse them. Needless to say this is my last day with Zecco. Closing my account ASAP!! I encourage everyone to abandon Zecco immediately.
    15 vote(s)
  • Sep 14, 2011 at 9:22AM
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    Member log  MrJenkins Member participation ranking in the ZeccoShare community sMember is sharing their portfolio

    I missed out on a nice bottom play on MINE because Zecco wouldn't let me buy it. I'm leaving Zecco today as well.
    12 vote(s)
  • Sep 16, 2011 at 1:58PM
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    Member log  ApolloSpeed Member participation ranking in the ZeccoShare community

    wow, maybe time to abandon ship!

    We can't have a searchable engine built into trading center to see what's eligible or not?

    ridiculous!
    7 vote(s)
  • Sep 16, 2011 at 11:55PM
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    Member log  ShowBoat Member participation ranking in the ZeccoShare community

    You folks that play the pink/otc stocks can use a broker thats not PENSON related, depending on your account value, the better brokers will pay the transfer out fees and you can then sell your shares. The commission is higher but you wont be slammed with the ridiculous unknown fees.
    3 vote(s)
  • Sep 19, 2011 at 1:34PM
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    Member log  RussellAZ Member participation ranking in the ZeccoShare community sMember is sharing their portfolio

    OK, this is a bit annoying - I bought a few sub penny stocks for fun and one of them I bought for about $10 is now worth about $200 so I wanted to sell it. I got the Non-DTC warning so it will cost me more to sell than it's worth? Why don't you get that warning when you buy? Isn't that a little crooked? Had I known this before I wouldn't have bothered to purchase these stocks.

    Is there any way at all for me to sell these without incurring these ridiculous fees?
    4 vote(s)
  • Sep 19, 2011 at 2:27PM
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    Member log  Shandrew Member participation ranking in the ZeccoShare community sMember is sharing their portfolio

    i ran into the same problem today. I talked to customer service and all he could give me was a bunch of maybe you'll be charged or maybe not. I specifically asked if I made a trade with DUSS would I have a high chance of recieving this bill? He said not a high chance but decent chance. What kind of crap uncertain answer is that!? Im definitely out. Does anyone know if scottrade has anything similar to this? I do not want to switch to another broker with the same problem.

    Thanks in advance
    2 vote(s)
  • Sep 25, 2011 at 9:37PM
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    Member log  JQraze82 Member participation ranking in the ZeccoShare community

    Hey I also have an account with ETrade and they have NO fees whatsoever for Non-DTC stocks, the commission is $9.99 but its definitely worth it everything at ETrade is 100x better than here. They actually help you as much as possible over there at ETrade. Their research section is 100x better as well. I recommend ETrade.
    5 vote(s)
  • Sep 25, 2011 at 9:39PM
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    Member log  JQraze82 Member participation ranking in the ZeccoShare community

    I'm just going to hold my non-dtc positions forever than one day I will transfer them out to ETrade and pay the $9.99 commission to sell them. Hopefully one day in the near future Penson will eliminate this fee or at least come up with a way to reasonably estimate what the fee will be on a per trade basis.
    5 vote(s)
  • Oct 18, 2011 at 7:59AM
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    Member log  frank00511 Member participation ranking in the ZeccoShare community

    The list is available at www.zecco.com/forms/known-non-dtc-eligible-list/downloadform.aspx
    3 vote(s)
  • Oct 18, 2011 at 8:08PM
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    Member log  DinkyDoo Member participation ranking in the ZeccoShare community sMember is sharing their portfolio

    reply to shandrew. I think most broker have issue with this kind of stocks i tried to figure out which place is best for using them by researching around and if you read close all the dealers have 'fine print' about them. like at scotttrades website it says they charge higher commission and some of the trades for this kind have to be "broker assisted" (which is likely costly as well!) and at tradeking website they just charge extra money up front like one cent per share and you gotta buy at least hundred dollors worth
    1 vote(s)
  • Nov 03, 2011 at 9:38AM
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    Member log  OverDosed Member participation ranking in the ZeccoShare community

    i am leaving Zecco TODAY! These fee's are garbage... GOOD BYE ZECCO!!!
    7 vote(s)
  • Nov 03, 2011 at 2:57PM
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    Member log  titan4cash Member participation ranking in the ZeccoShare community

    I agree with RussellAZ: They 'should' Inform you of this kind of surprise - "Going In" - not checking out!

    Looks to me as though this idea was developed in a real knee-jerk fashion from the get-go.

    I hope management will get this mess back in line, soon.
    2 vote(s)
  • Nov 03, 2011 at 5:21PM
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    Member log  aherke26 Member participation ranking in the ZeccoShare community

    I am out as well. The only problem is I cannot find another broker that will take these penny stocks? Do you know of a brokerage that will take penny stocks?
    1 vote(s)
  • Jan 24, 2012 at 8:29PM
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    Member log  RTKM1 Member participation ranking in the ZeccoShare community

    Hmm... I see a couple of things Jelize. CXLT.OB has changed its ticker, now its NSAV.OB. One of the biggest rules of the game is you don't invest on these and you only daytrade them if good volume is there. I would assume you are at a loss, I would recommend to try this. www.zecco.com/forms/nontransferable-security-removal/DownloadForm.aspx
    1 vote(s)
  • Jan 24, 2012 at 10:44PM
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    Member log  GoldStandard Member participation ranking in the ZeccoShare community

    You can add Penson and Zecco to the non-DTC eligible list. A ( non-penny ) trade executed at 11:30am is still not listed in my Account Records at 11:40pm.
    1 vote(s)
  • Mar 16, 2012 at 12:51PM
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    Member log  mattbeaudette Member participation ranking in the ZeccoShare community

    check out this site...it is a search utility:
    www.mastertrader.com/TradingResources/dtcc.aspx
  • Mar 18, 2012 at 1:53PM
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    Member log  Shaknitboss Member participation ranking in the ZeccoShare community sMember is sharing their portfolio

    Hmm.. this site was recommended for penny stock traders... Maybe not so much.
  • Jun 04, 2012 at 7:38AM
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    Member log  JQraze82 Member participation ranking in the ZeccoShare community

    The master trader site recommended here does not work.. It lists everything you type in as dtcc eligible. DO NOT TRUST IT

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