charliechan
Experienced member
- Messages
- 1,008
- Likes
- 119
Hi,
I recently opened an account with a US broker to invest in some stocks. I had a GTC Limit in the market to buy a particular stock. The stock issues a dividend, so no surprises, the stock gaps down. My GTC would have been filled.
For the rest of the day the stock rallies.
The broker however adjusted my Limit price by the amount of the dividend meaning I didnt get filled.
I'm Pi$$ed.
I've been waiting for that price for about a month now. It comes and the broker screws it up.
NOTE: This is REAL stock on an EXCHANGE. I expect this sort of crap with a spread betting firm, not a broker.
Does anyone know if this is with in SEC regulations?
My view is that it it is account owners responsibility to be aware of corporate actions such as dividends, and brokers have no right to interfere.
Thanks for any help....
Charlie
I recently opened an account with a US broker to invest in some stocks. I had a GTC Limit in the market to buy a particular stock. The stock issues a dividend, so no surprises, the stock gaps down. My GTC would have been filled.
For the rest of the day the stock rallies.
The broker however adjusted my Limit price by the amount of the dividend meaning I didnt get filled.
I'm Pi$$ed.
I've been waiting for that price for about a month now. It comes and the broker screws it up.
NOTE: This is REAL stock on an EXCHANGE. I expect this sort of crap with a spread betting firm, not a broker.
Does anyone know if this is with in SEC regulations?
My view is that it it is account owners responsibility to be aware of corporate actions such as dividends, and brokers have no right to interfere.
Thanks for any help....
Charlie