Is it possible to add these stocks to the platform? Thanks
LLKKF - is a penny stock exempt and should be ok from this point of view.
AMYZF - is not a penny stock exempt and they will not be able to add it.
As a recommendation before posting, just go to https://www.otcmarkets.com/ put in your thicker and be sure it has the Penny Stock Exempt badge. Only they can be added.
Oh cool, thanks for the information - never realised this was a thing.
why are you cancelling my 300 units buy order?
I’m getting errors like " *The maximum remaining quantity for long positions with this instrument is 0" when I try to submit a limit order. What’s the reason for this please @David?
This seems to indicate this should only be for CFDs, not for Investing:
@Feste97 $LLKKF is currently in close-only mode due to trading restrictions placed by the OTC Markets Group. Our intermediary is working with them to find out why and also to have the restrictions lifted.
Do you think it would be possible for you guys to take some time and explain what is really going on here?
Clearly, as evident from the image attached, $LLKKF has NOT been put under any kind of restriction by the OTC Markets Group, as the app warning text and your message here state, and people on other platforms have been able to trade in this stock normally, while users of Trading212 have been prevented from actively managing their investment.
I am aware that this particular stock might not be the most popular instrument ever, but you did add it the platform and there have been enough people to research the company and make their due diligence and make the decision to invest some of their own money into it using your services. Now your services have become restricted one-way, for an unspecified period, which practically kills any long-term strategy on gradually building up a position. The longer I am restricted from adding to my open position, the more likely I will end up with missed opportunities to grow it with a profitable average price, and the more likely that my initial investment will be handicapped and will go to waste.
And for all those missed potential gains we are forced to take a false excuse!
All of us here who have open positions in $LLKKF have the right to expect proper service and minimum truthful communication, irrespective of the number of shares we hold or total account value.
Customer trust is a very important asset for any company, and for a company in your business I’d say it is a crucial one.
A prompt and clear response from T212 team on the situation would be much appreciated indeed.
Oh well, so wording has slightly changed, but it still comes nowhere close to clear, and definitely not in line with the statement by OTC Markers Group, quote: “any restrictions in trading is coming from the broker, not from OTC Markets Group”.
It quite clearly says that T212’s intermediary, who are Interactive Brokers (IBKR for short), have placed a restriction on this particular OTC for whatever reason. If IBKR say no, then T212 can’t go and do something different. They can only act on the information made available from them.
I couldn’t agree less that this is anywhere close to acceptable. To begin with, I did sign up with T212, and not IBKR, and whether T212 chooses to use IBKR or any other execution intermediary is not and should not be my concern.
Please note, that the initial notice said nothing about their intermediary, but pointed directly to OTC Markets Group as the source of restrictions. Turns out the exchange nor the company itself did not suspend or in any other way limit trading in this stock, as evident from the charts too where you can see with the naked eye that there are both sell and buy trades happening any minute, and many retail traders already confirmed first hand that they never had any trouble or restriction whatsoever on other platforms.
So T212 did provide information which was not true. Then they edited the notice, and if you look at it closely you can again see that it says ‘restrictions placed ON our execution intermediary FROM the OTC Markets Group’, that is, it’s OTC again to blame.
I don’t really care if they have special margin requirements or some sort of technical glitch going on. If it is about the extra money they’d need to be able to cover for trades in this security, then they should have taken this into account from the very start, or at least have given us due notice that this and this instrument might not be available for normal trading so don’t open a position. But who would come here to open a position that can’t be managed because the broker changes the rules mid-game? And if this happens with LLKKF today, how can I be sure it won’t happen with any other random instrument in my portfolio? Or on the platform as a whole?
Tha main issue is not even the restrictions on this or that ticker. It is the sorry way they have not been properly communicated with clients. It is this lack of notice, lack of truthful and clear and transparent communication that is a MAJOR red flag about the stability and trustworthiness of T212 service. And it is unfortunately becoming a trend in the last couple of weeks.
I did not sign up with T212 because I want to gamble. And trading is turned to gambling when your broker acts unpredictable and cannot pull a decent explanation for days.
Are you finished yet?
Has the issue been solved yet? I know it turned out a mad rant, but sorry not sorry - I am still waiting for some proper communication from the team.
I won’t deny T212 has a lot of nice features, but a problem like this is really a hair in the soup – tiny but gross, and it tends to get recurring. So I promise I’ll come pestering back on Monday and every other day till I get my answers
I do appreciate you trying to clarify that it’s IBKR and not T212’s fault, though Thanks indeed and stay safe
conspiracy theories belong in aisle 2. I’m waiting for someone to complain about T212’s “lake of transparency” next.
Hi All, do we have any news on this matter perhaps? The stock is still blocked and it’s a bit of a shame honestly… cheers
Here’s where we’ve last touched upon the subject, @Malakay
We’re closely monitoring the situation, but I’m afraid the matter hasn’t developed any further since then.
Quick fix, you can buy through Degiro (FRA: LK1).