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U.S OTC Markets, Selling U.S OTC Markets stocks
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SUSTOS
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 Mar 15 2022, 03:55 PM
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QUOTE(ABCIceKacang @ Mar 15 2022, 02:39 PM) Hi, has anyone across this firm before? www.thehumblecapital.com Looks like they are buying OTC shares. I have email them to check whether they are legit or not. Just checking whether anyone has done deal with them before. Thanks.  No, I have no idea of this firm, not heard of them anyway. The fact that they are based on Hawaii sounds suspicious and the website looks too simple for an asset management firm. Most fund managers like to boast about their AUM and past performances, but this one does not state anything about that. Anyway, for buying OTC shares, if you have sufficient capital, you can access them via IBKR. I have confirmed with IB's CS rep before. I am not sure if they will check your reported asset values however. https://ibkr.info/node/2892This post has been edited by TOS: Mar 15 2022, 04:03 PM |
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SUSTOS
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Mar 22 2022, 09:39 PM
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QUOTE(ABCIceKacang @ Mar 22 2022, 09:36 PM) I've checked with IBKR before. Apparently, my asset value in the account is not high enough. Thus, they unable to accept the deposit of my OTC shares  Ah yes, that is what I was told too when inquiring about European companies unlisted ADRs. Too bad. Have you tried with other brokers? The "popular" social apps like Futu/TIGR or conventional ones like TD Ameritrade? Did they put a high bar on asset value like IB as well? If this is the case then it's more of regulations. Just wait till you get that rich.  |
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SUSTOS
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Apr 1 2022, 05:06 PM
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QUOTE(ABCIceKacang @ Apr 1 2022, 04:57 PM) Just a little update, I have agreed to sell my shares to the firm. they mentioned they will do the paperwork for the transfer which will take around 3 to 4 weeks. Finally i can manage to cut loss and exit my investment after so long.. no solid response at all from the company after investing them. no idea when they can reach Nasdaq... Did they take advantage of your desperate need to sell and markdown the value of the assets/NAV dramatically? How did you determine the ask price? This post has been edited by TOS: Apr 1 2022, 05:51 PM |
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SUSTOS
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Apr 3 2022, 12:52 PM
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QUOTE(ABCIceKacang @ Apr 3 2022, 11:35 AM) I have no idea how they determine the ask price. They didn’t mention. From my perspective, I just want to cut loss and at least able to get back some money will do. As mentioned above, I've tried various of brokers, firms, domestic or international, all don't work, hope this time really can exit ba  Let's see how it goes in these 3-4 weeks.  lol I mean how you determine your ask price (the minimum price you want to sell). Have you checked with other owners of the securities? The firm would quote their bid price (the maximum price they want to buy). It seems like in your case the pricing power is clearly in their hands, but glad that you can cut loss. At least you learn (in a hard way) the pricing transparency of OTC markets. |
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