Temporary BUY Restrictions on Illiquid OTC Penny Stocks

I see LTMCF is now restricted. It’s a legit company, not a pump&dump.

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You have restricted GTCH?? This is not an illiquid stock and penny stock exempt. Seriously what are you playing at T212?!! These restrictions are making us lose more money as we cannot average down!!

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Hello,

Why is bantec limited to sell only? From what I see it does have Penny Stock Exempt flag.
Same situation with clwd. Can you provide user with clear explenation what stock does need to d to be able to buy them? Numbers would be great

Regards :slight_smile:

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Is it related to this, T212 have taken the buy button away in fear that they’ll be investigated for manipulation. Unfortunately everything has been caught up in the move rather than checking whats being or was being pumped and dumped, so a lot of innocent stocks affected.

They are a broker, a broker has clients, clients have money, money goes where the clients want, good stocks get attention on social media because they are about to run… where is the manipulation?

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What T212 doing is barely legal, I remember back when they made the rule of only adding PSE there were people (me included) asking why CBBT,ATVK and a few otheres where added if there aren’t PSE. and we NEVER GOT AN EXPLANATION. Okey we werent complaining cause they were adding stocks here and there, now all of a sudden people got aware of the potential of getting money from cheap OTC stocks and you want to suspend them???. thats manipulation to me. people noticed (or at least me) during that OTC boom ,stocks would jump once getting added to T212 example (VLTR,ABEPF,IINX…) making it seems like a pump and dump…and thats why you don’t see them adding stocks anymore even if theire PSE, thats messed up cause ALPP, made its run and nobody said it was a pump and dump same with ABML, alot of the suspended stocks could be the next ALPP, but my guess is until OTC cool off suspention will not be lifted smh…another fishy thing is GAXY CFO contacted them as why is trading suspended and never got a reply from T212, yes GAXY meets the requeriments to be added and be able to trade cause their financials are good and up to date but T212 chose to suspend it. i will never understand thsese restrictions tbh, i’d understand suspending GME AMC etc cause those are clearly people manipulating and pumping but these otc stocks…now another note is that their susoending all the ā€œhypedā€ stocks with a decent/low OS…but you wont see them restticting HCMC and a few others with billions of OS cause they know it will take too much for the price to pop,to much bs going on with T212 tbh. in other words they dont want you to win.

PS:IMO

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No it isn’t ā€œnearlyā€ illegal or manipulation - it is mostly people investing in low liquidity, penny stocks without properly understanding the risks and rules (for brokers) of trading in such stocks.

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not everyone is a gambler my guy… i beliebe in stocks like GAXY,LITOF,ABEPF for exenple so me investing on those makes me a gambler?? that argument is not valid. As for the risk, they offer a service to the customers and WE are who risk our money, they dont lose just money (cough spread cough…) yes it is commision free but believe me they wouldve go bk if they didnt get any retribution. these suspensions are only a T212 thing. so its pretty much ilegal to prohibit trading while in reality you could. againg i’d understand suspending GME,AMC etc but not these other stocks.

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No. GAXY is not PSE, it does not meet the requirements and never did, it shouldn’t have been added you are right about that but it still doesn’t meet the requirements now.

I remember a discussion here when the CFO said they meet the requirements, we looked at her companies latest balance sheet and there is no way it meets the requirements for PSE, which is why it doesn’t have the badge for it on the OTC markets website - kinda worrying/embarrassing that a CFO would get that wrong…

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Also everybody and their momma knows the risks of trading, and instead of suspending the stock to be tradable how about to suspend that account who is in a %regative, how about making experience requirements to new traders

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I mean not surprised she didn’t get a reply, not sure it’s very common practice for companies to be reaching out to brokers about their security, or if it’s even legal for that dialogue to exist???

But yeah not surprised, if we the users can’t get proper responses then some random OTC stock that can’t be traded on the platform due to not being PSE isn’t going to get proper responses either

Yep she reached cause not being able to trade on an specific platform needs an eplanaiton, T212 has alot of users and SP reflects it, as i mentioned above SP increase when an specific stock is added to the platform imagine what i’ll do when you can’t buy, or only sell, yes. Thats why she reached out.

Againg that PSE argument is not valid cause theres a bunch of stocks that are PSE and restricted.

I completely agree with Isistyle… out of all brokers around the Globe, only t212 restricted buying OTC…

@red Oh and yes, not everyone is a gambler… im holding long onto GAXY and ABEPF… potential stocks…

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Yep, now if you tell me they never added OTC that would be fine, but you add them and each time you make it more dificult to add ? cause at first they added a bunch of stocks, they said it had to be PSE then said it had to be liwuid stocks, then said it had to be liwuid with a certaing % or volume…that is that?

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I tell you they will restrict any cheap otc that runs more than 200% mark my words…even if it has potential

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I mean from a regulatory point of view, I don’t think listed companies can deal directly with brokers, I doubt FCA rules permit that.

Also I’m not saying anything about whether I think it should be on the platform or not. I’m not saying that I think T212 suspending buying of illiquid OTC is right. All I’m saying is the rule that has been given is if it’s not PSE it shouldn’t be on the platform and GAXY is not PSE, regardless of what the CFO claims.

Clearly the fact GAXY was originally on the platform despite never being PSE was a mistake by T212, Phil has been trying to get a response on that but I doubt we will ever hear.

Well, as a CFO she has responsabilities over shareholders and has to give them answers, since T212 never said anything. plus I remember them restricting stocks and making it known to the public the same exact same day. So alot of questions were made an as I said since T212 didnt give a public answer she had to reach out. and yeah I remember I was one of the first to ask why ATVK, GAXY,CBBT were added if they werent PSE, and never got an answer. i can tell you why…imo they thought those stocks would perform as good as ALPP and ABML thts why. cause those were added before there was that PSE rule, but those stocks didnt go as they planned so from there the PSE rule imo.

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Its a lot of work to be done… but i just want an update or news regarding this… :sweat: @David

I didn’t say it was gambling (though in some cases it is).

You can believe in stocks all you want but that doesn’t change the facts that there are additional risks surrounding such low liquidity stocks (the same is true if some AIM stocks).

Why would t212 restrict well performing stocks? What benefit do t212 get from users not being able to trade?

Sorry but that is just nonsense