|Lol on your comment on valuation loss. I have so many dead or almost dead sub pennies that often have have a big bid/ask spread and many that go no bid. My portfolio value can take a multi thousand $$$ hit due this. I am use to this now. Anyway, here is a update on the quoting problem at Schwab - |
Schwab has good customer service. But if you plan to use their Level 2 for trading, it's quote data is usually wrong for OTC stocks. Wrong last trade pps, wrong bid pps, wrong ask pps wrong high and low of day. All shown on the Level 2 layout. Plus this data appears on watch lists streaming too. This is a problem that started this year. They know the problem but higher ups refuse to switch to another vendor for the data feeds. The reps at Schwab are as frustrated as I am. Guess we penny players are not a big enough piece of the pie to warrant doing anything about this. Bottom line those trading with Level 2 will be trading in the blind.
Sent an email to my Schwab advocate yesterday and let her know I would much rather see this issue fixed than get the new no free trades.
I will be spreading word of this on other forums. This issue is costing me $$$. If I get a good response from other traders, maybe I can put together a Class Action Suit.