Posted On: 07/08/2014 1:46:15 PM
Post# of 41414
Barry knows a few.
When I first tried, I went with Alpine Securities, but don't try to buy or sell through them, since their commission structure makes trading in penny stocks an absolute nightmare.
About 6 months ago I opened a USAA brokerage account and DWAC'd my shares into that one - but again, you have to transfer those shares out also since USAA commission rates are just as bad as Alpines.
DWAC = Deposit/Withdrawal At Custodian - in other words, you send the certificate over to Standard Registrar (the Transfer Agent listed on the back of the certificate) and they remove the restrictions and turn the shares into "street name" and then your brokerage firm can request that the shares get deposited into your brokerage account.
Standard Registrar's phone # is 801 571-8844
When I first tried, I went with Alpine Securities, but don't try to buy or sell through them, since their commission structure makes trading in penny stocks an absolute nightmare.
About 6 months ago I opened a USAA brokerage account and DWAC'd my shares into that one - but again, you have to transfer those shares out also since USAA commission rates are just as bad as Alpines.
DWAC = Deposit/Withdrawal At Custodian - in other words, you send the certificate over to Standard Registrar (the Transfer Agent listed on the back of the certificate) and they remove the restrictions and turn the shares into "street name" and then your brokerage firm can request that the shares get deposited into your brokerage account.
Standard Registrar's phone # is 801 571-8844
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