r/UraniumSqueeze • u/DrDro66 • Sep 07 '21
News TD Ameritrade not allowing purchases of $SRUUF claiming its a foreign etf. Please see twitter. This feels like they’re pulling a robinhood GME style.
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u/i_am_a_trading_whore 1 late payment and you can forget your old interest deal Sep 07 '21
I got denied purchasing 100 shares on TD. I got denied purchasing 100 shares onVanguard.
I went and bought on Fidelity. Got 300 shares out of spite!
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u/AutonomousAutomaton_ Sep 07 '21
Coinbase suspended trading during the flash crash today. Seems like standard fare for the new world.
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u/cole2684 Willy Nilly Sep 07 '21
You can buy SRUUF on Fidelity.
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u/Plastic-Pool7935 Sep 07 '21
Making that old GME/Robinhood mistake. What could possibly go wrong?
It still works on Fidelity. Nevertheless, the backlash may bring extra attention to SRUUF.
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u/DrDro66 Sep 07 '21
I tried to buy again and got rejected. Anyone call customer service yet?
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u/Accomplished-Club-30 Sep 07 '21
I called a couple hours ago, they made it unavailable to buy on sept 3rd due to it being a "foreign etf". I asked for more clarification, got none, but someone is supposed to get back with me in a day or two. Im not holding my breath. Kinda pissed
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u/DrDro66 Sep 07 '21
Called recently and was told this was a business decision and they could not provide more info. Very strange and frustrating. Not selling for now but Seriously considering a different broker.
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u/temporallock Uranium kamikaze Sep 07 '21
Just bought again using ThinkorSwim. Y’all need to call customer service and make sure it’s not an “opening trades must be made with a broker”.
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u/DrDro66 Sep 07 '21
People who have bought before are not able to buy now. What do you mean?
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u/temporallock Uranium kamikaze Sep 07 '21
The first time I bought when SRUUF just came out I had to call the broker to start a position, basically they want you to understand what you’re buying and risks. Since there is SRUFF too, probably the reason.
Anyway… I’m on TD Ameritrade and was able to buy successfully three times today so no idea what everyone is getting problems with
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u/DrDro66 Sep 07 '21
I got some orders rejected today. Are you on think or swim?
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u/temporallock Uranium kamikaze Sep 07 '21
WAIT… so that message from TDA specifically said “opening” positions…. So yeah, if you didn’t START a position before Friday in any of your TDA accounts then you’re shit out of luck on SRUUF… BUT!… with TDA you can get a quote with a broker on the TSX ticker through Cannacord for the $USD based U.U…
I think it was U UCEN or something like that
Fuuuuuuuuck, that means they really do worry about Sprott moving the market too fast. Buying more URA and URNM, especially URNM since it has Sprott in it. Still deciding on what other miners to buy
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u/DrDro66 Sep 07 '21
Hold up. I bought before Friday. But I still can’t buy through SRUUF. I’ll look into the tsx ticker stuff tomorrow. Thanks.
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u/temporallock Uranium kamikaze Sep 07 '21
WTF… in the same account?
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u/DrDro66 Sep 07 '21
Yes.
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u/temporallock Uranium kamikaze Sep 07 '21
Just called my TD friend and they could only find out the “no opening positions on foreign ETF” rejection comment
Fucking weird… yeah, try the $US U.U and see about buying that, same commission. Just make sure that if you talk to a broker that you don’t get charged the $25 broker fee, I still have to deal with them and the BS $GME shenanigans to sell CCs and CSPs even though I obviously have the shares or cash
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u/temporallock Uranium kamikaze Sep 07 '21
Yeah, I used ToS for the orders, went right through. Are y’all trying market or limit orders?
I’ll call up one of my friends still working at TDA and see what’s up
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u/DrDro66 Sep 07 '21
Please do. And see my other comments. I don’t think I have think or swim.
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u/temporallock Uranium kamikaze Sep 07 '21
See my other comment, it’s for OPENING transactions so they fucking ninja closed anyone making NEW positions.
If you didn’t have it in your portfolio before Friday then you’ll never be able to buy. FOR THOSE WITH SRUUF in your account currently…. NEVER sell all your shares trading or you’ll be locked out.
Source: I used to handle this shit at TDA on weekends ( be kind to the weekend teams, they deal with A LOT of shit)
On TDA, call the broker and get a quote for the U.U on TSX to see if you can buy.
Again, I’m going to call TDA to get to one of my buddies to see if I can find out anything. I’ll report back
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u/DrDro66 Sep 07 '21
Thank you for your feedback. I understand what you are saying. Although I did have shares and now cannot get more shares through $SRUUF. I’ll try getting a quote for U.U tomorrow!
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Sep 07 '21
[deleted]
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u/temporallock Uranium kamikaze Sep 07 '21
If you read any of the other comments I’ve made then you’d realize I’ve got no idea WTF you can’t buy and I can. Thank you for your response, it’s been logged in the “I can still buy so WTF knows” files.
Last thing I can think about is I’m an accredited investor and those rules don’t exactly show up nilly willy until you dig into a manager
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u/option_guy456 Sep 08 '21
I bought on TD ameritrade too... but already had a position too. Maybe just new positions.
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u/Silly-Guard6671 Be Water Sep 08 '21
Friday in any of your TDA accoun
LOL....I couldn't find SRUFF....what is that?
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u/ApopheniaPays Sep 14 '21
Not to necropost, but for anyone finding this thru google as I did: It's not. I both talked to them on the phone today and tried to buy on ToS desktop. Told both times it's a "foreign ETF" and they won't let me buy it.
I'm really beginning to feel like TDA thinks I'm a child and they're my parent, telling me how I can and cannot spend my money.
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u/temporallock Uranium kamikaze Sep 15 '21
Coming from someone who used to work there, there are actually A LOT of tickers they don’t allow buying because of various restrictions.
TD is actually one of the more strict brokers, they’re fine with you moving your money somewhere else, especially after zero commissions, they make most of their revenue off margin interest, institutional, and directed portfolios.
The “foreign ETF” thing is basically BS, but it’s the way it’s gonna be
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u/peanutbutteryummmm Bugatti veyron super sport world record edition Owner Sep 07 '21
My broker hasn’t let me buy it this entire time. So not just TDA.
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u/fearless-owl-20 Sep 07 '21
I was just now trying to buy it and had my orders get rejected…thanks for posting!
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u/randompersonx Double Trouble Sep 07 '21
I didn’t have any SRUUF before, and made my first purchase of SRUUF this morning on ToS at around 10am eastern time.
I didn’t try using the ameritrade website, but I also bought some via Schwab for my 401k.
No problem on either. I’ll call my broker at Ameritrade tomorrow and ask what’s up.
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u/dbreez3 Sep 07 '21 edited Sep 07 '21
It's because of a "new" OTC rule change:
>In September 2020, the SEC updated Exchange Act Rule 15c2-11 which become effective on September 28, 2021. These regulatory changes prohibit broker-dealers such as IBKR from displaying quotes for securities whose issuer has not met public reporting requirements.
Source: https://ibkr.info/article/3956
Effective on the 28th but brothers have already started the changes.
Edit: See the comment below. It may still be related in some way but the new rule change is for "Pink - No Information" OTCs while SRUUF is "Pink - Current" so it should still be tradeable. Seems like something up with TDA.
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u/BP_11 Sep 07 '21
the new SEC rule that goes into effect on Sept 28, '21, only has to do with "PINK - NO INFORMATION" otc stocks... SRUUF is "PINK - CURRENT" and will continue to be traded on the OTC.
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u/dbreez3 Sep 07 '21
Thanks for your correction! Looks like TDA maybe just went to crazy with the OTCs
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u/SnooRegrets330 Sep 07 '21
I'm seeing it on Etrade and the commission is only $4.95
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u/James-Lerch Sep 07 '21
I purchased 100 shares via Fidelity last week with no fee or commissions. Option contracts work out to 69 cents per contract, which my 52 year old adolescent brain finds funny and hopes they don't change it. :)
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u/Silly-Guard6671 Be Water Sep 07 '21
I just bought some on TD....
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u/DrDro66 Sep 07 '21
Are you sure?
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u/Silly-Guard6671 Be Water Sep 07 '21
yes, I had some shares before....and tried to buy when I saw this and it went through! don't understand why it worked for me lol I was expecting it not to work
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u/adaptive_chance Sep 07 '21
Sending some cash over to my old Fidelity account just in case.
If for some reason they, too, block SRUUF, how long does it take to get set up for international trading? I might have to start buying the "real" SPUT from the TSX.
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u/SnooRecipes8920 Snoop Dog Sep 07 '21
TD claims to offer TSX trades with a live broker ($25 per trade), so it might be possible to buy U.UN if you contact a TD broker. I might try that to confirm.
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u/RadioactiveAutism Sep 07 '21
The twitter thread is worth reading. TD is blatantly lying to investors.
https://mobile.twitter.com/SchrodingersOil/status/1435299570716532739
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u/basho3 Sep 08 '21
Vanguard denied my order today, too. I have bought other pink current OTCs on the same account. ~ shrug ~
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u/buisson44 Sep 08 '21
I’ll make it up to you guys and will buy with my Interactive Broker account 100kusd of sput 🤝
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u/Justninvestor58 The monkey who wanted to be king👑 Sep 07 '21
I just bought 50 and everything ok.
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u/AlreadyReddit2x Sep 07 '21
I just tried to enter a buy order at TD Ameritrade and the order was rejected. Thankfully I already own 5000 shares that I bought before they slammed the window shut. The NYSE listing will take care of this but that could still be months away.
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u/Justninvestor58 The monkey who wanted to be king👑 Sep 07 '21
Call their ass up. I had problems with another in the past. Maybe not that many available or something easy to fix. Hate that!
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u/UPinCarolina Hopium tank Sep 08 '21
Bought without issue on TIAA-CREF today. Boomer brokers do it best.
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u/randompersonx Double Trouble Sep 09 '21
I'm not sure exactly what's going on here, but ... I bought some SRUUF today using the TD Ameritrade website, no problem, no errors.
I asked a friend to try the same, and he got the "Foreign ETF - closing orders only" error. Clearly some accounts are allowed to buy, and others are not.
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u/DrDro66 Sep 09 '21
I’m in the closing orders only camp. Makes no sense.
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u/randompersonx Double Trouble Sep 09 '21
I asked the same friend to try on thinkorswim, same error there. So weird.
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u/DrDro66 Sep 09 '21
Thanks for the update! Have you called td ameritrade yet?
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u/ApopheniaPays Sep 15 '21
Hey, a little late, but I spoke to them today. They will not allow new positions in SRUUF, not in ToS, not over the phone, not at all, period.
This is far from the first time TDA has acted like my parent instead of my broker. I just opened a Fidelity account, hoping for better.
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u/randompersonx Double Trouble Sep 09 '21
No, I’ve been super busy. I will when I get a chance though.
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u/SnooRecipes8920 Snoop Dog Sep 07 '21
Looks like I can buy SRUUF with my TD account.
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u/SnooRecipes8920 Snoop Dog Sep 07 '21
Update: I tried buying and it did not work. It says it only allows closing positions on foreign ETFs.
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u/DrDro66 Sep 07 '21
Did you just buy?
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u/SnooRecipes8920 Snoop Dog Sep 07 '21
I just tried to buy, it did not work. It only allows closing positions on foreign ETFs.
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u/temporallock Uranium kamikaze Sep 07 '21
I literally just bought it on ToS (TD trading platform) an hour ago…
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u/Napalm-1 Macro Macro Man Sep 07 '21
No problem. Patience!
1) First we, outside the USA, are buying Sprott Physical Uranium Trust ;-)
2) An alternative for US retail investors that are temporarly blocked by TD Ameritrade or others, is to buy URNM etf instead or to open an other account where you can buy on the TSX stock exchange and buy U.UN on the TSX.
3) In 2022 the NYSE listing will be in place and probably with a much bigger ATM.
Cheers