Ticker: RRSSF
This theme is going to be huge!
As soon as you can please @Team212
And thank you very much!
Regards
Hi, unfortunately this doesn’t look to be available on IBKR and is also not penny stock exempt. Any stock needs to meet those criteria before T212 can add them. You can check on suitability on the links In this post if you have any others you’d like to request.
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Maybe worth reading before requesting new additions:
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Thanks, just realized your thread exists @RLX Please someone pin it for everyone <3
Also, when and how do penny stocks become penny stock exempts
And is there a way to request/suggest stocks from/to IB?
Thanks
I’ve tried once but it was traded on a sector of the LSE that they didn’t have access to. I was fairly surprised. If you open an account with them you can just message your request.
I don’t understand the penny stock exempt thing myself to be honest. I’m guessing it has to do with how transparent they might be with their finances but I could be completely wrong.
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Maybe T212 staff or other Community Leaders (besides myself).
In each stock OTC Markets page, there are the specific “Current Information”, if you click on that specifications, a popup shows an info snippet and a link to the glossary.
In the OTC Markets site, they have a glossary that explains the following:
Penny Stock
Penny Stocks are, generally speaking, those securities that are not listed on a national securities exchange and are priced under $5. There are exclusions for securities of issuers that have net tangible assets greater than $2 million if they have been in operation at least three years or greater than $5 million if in operation less than three years. Securities of issuers with average revenue of at least $6 million for the last three years are also not considered penny stocks. For a complete definition of a Penny Stock, see SEC Rule 3a51-1. FINRA BB securities are considered penny stocks unless they qualify for one of the exclusions. See: SEC Rule 3a51-1 - Definition of a Penny Stock
Penny Stock Exempt
This security is exempt from the definition of a Penny Stock under SEC under Rule 240.3a51-1 because it meets one of the following tests: 1) A price of over $5 per share, 2) the issuer has Average Revenue of at least $6 million for the last 3 years, or 3) the issuer has Net Tangible Assets in excess of $2 million if the issuer has been in continuous operations for at least 3 years or $5 million if less than 3 years.
Penny Stock Rules
Penny Stock Rule is designed to prevent deceptive or manipulative practices. It provides that a broker cannot sell a Penny Stock to any person unless it has approved that person’s account for penny stock transactions and the broker/dealer has received in writing from customer agreement to the transaction. Approving an account includes, among other things, reviewing the customer’s financial data and determining the customer’s suitability, including the capability to evaluate the risks of trading in penny stocks. Some types of transactions in penny stocks are exempt from these rules. Exempt transactions include those with an established customer (a customer of more than one year or one who has made at least three separate penny stock purchases) and transactions in which the customer is an institutional investor. See: SEC Schedule 15g
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Neometals is looking to be listed in London soon so you can request for them to be added then https://company-announcements.afr.com/asx/nmt/b5e5e666-a3b9-11eb-b4da-7e36cf645a90.pdf
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