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[–]Jdb7x🦍Voted✅ 3536 points3537 points  (181 children)

This entire system is a joke. But don’t worry you’ll get a warning before we fuck you over...That should be comforting, right?

[–]InterwebAficionado🍌OG Silverback🍌 2444 points2445 points 22& 2 more (123 children)

Hijacking top comment...OP, please file a complaint: https://www.finra.org/investors/need-help/file-a-complaint

Edit: Yes I'm aware filing a complaint with FINRA is probably going to do nothing since FINRA is just as corrupt as everyone else, but you really should still try. Worst case scenario nothing happens. At least you can say you tried.

We need to not be in this "it's pointless to even try" mindset. Be the change or die trying.

[–]NuQueenMidas 365 points366 points  (71 children)

We at the point in the game where it’s important that we know where to go and how to put pressure on our brokers to transfer our shares! E*TRADE is seriously trying to f… me by not transferring my shares to fidelity. I’m hot 😡

[–]donedrone707Resident GME Chaos Magician 351 points352 points  (55 children)

They have 3 days. Visit a financial lawyer, pay him a little $ so you're an official client. Call E-Trade and ask for a manager as many times as your sanity and patience will allow. Tell that manager they are in violation of the 3 day brokerage transfer rule, and tell them your lawyer has requested the names and information of everyone associated with your transfer request so he can name them in the motion he is filing. They will probably put you on hold and call that lawyer, but since you paid him and spoke to him he cannot comment on what you discussed and E-Trade will start to sweat that this is going to cause them some serious trouble

Then either the manager gets scared that his bosses will be pissed he let it go this far, he gives you names and you can report those specific individuals as violating FINRA rules, or he hangs up the phone/calls you names and generally becomes a little bitch. Either way, record the call.

[–]Mikeymikers0nDoing Retarded Stuff 148 points149 points  (18 children)

is it bad that I'm thinking of buying 1 share through them just to get them to buy it and transfer to fidelity to cs?

[–]donedrone707Resident GME Chaos Magician 73 points74 points  (8 children)

Naw, but you'll probably just create a headache for yourself when they stall and "misplace" your share or whatever other fuckery and excuses they will peddle to avoid buying the products you paid for.

All broker beside fidelity are trash in my opinion. MOASS will see the consolidation of brokers in the same way the late 00's and and early 10's saw the consolidation of wireless carriers into the big 3.

[–]Creative_alternative 19 points20 points  (5 children)

Or the banks into the big 4

[–]donedrone707Resident GME Chaos Magician 19 points20 points  (3 children)

Yup

We'll probably come out of MOASS with only Fidelity and Chuck Schwab left standing as options for retail investment (in the US at least)

[–]DishwashingUnit💻 ComputerShared 🦍 20 points21 points  (1 child)

If you have the money, time, and inclination to fight them we'd all enjoy watching and listening, very much.

[–]NuQueenMidas 19 points20 points  (0 children)

I’ll definitely give the status update because I be dam if E*TRADE keep my shares over there any longer than necessary. I don’t trust them anymore.

[–]NuQueenMidas 17 points18 points  (0 children)

Trust me the fire is hot over here! I wouldn’t suggest it. Get to high ground(Computershare) because ETRADE is on ONE! I wanted to believe that I could roll with them till the MOASS was over. I’m not waiting I’m getting the hell away from ETrade running!

[–]sbrick89 13 points14 points  (0 children)

I have a very small % at TD to see what happens.

I'm hopeful, given their background/roots... but worried given their recent actions.

If they don't / won't sell, I'll have screenshots to prove, and I'll walk away from them entirely.

But fidelity doesn't give me the same concerns

[–]NuQueenMidas 38 points39 points  (0 children)

That’s what really got me pissed. They came with BS after I deposited the $500 so I could transfer my shares to Computershare. E*TRADE is not tying to transfer shares to Computershare. And I think they are on to us transfer g to fidelity then to Computershare. If I wasn’t personally dealing with this BS it might be hard for me to believe, but now I know they’re gonna come with some fuckery likely worst than January BS…..ijs.

[–]shamelessamos92💻 ComputerShared 🦍 11 points12 points  (0 children)

Do it

[–]IAmNobodyIPromiseGrond, The StonksHead and Bane of Kenas Grifith 12 points13 points  (16 children)

You seem wrinkly, so I'd like to direct a question to you: Charles Schwab won't sell my shares without my permission right? I've got my SIMPLE IRA with them since that's who my employer uses.

[–]OhDiablo🦍Voted✅ 4 points5 points  (4 children)

On a scale of scumminess this is pretty low of Schwab to come out and say but it's honest? They've been moving shares reasonably quickly into DRS and they never shut things off in January. They do however engage in PFOF which is the big sticking point for people against Schwab these days. They're also larger than Fidelity in AUM (by a few billion) so they're definitely a big fish in the ocean. I'm not worried about them personally or my shares with them which are in a rollover IRA. I'm not actively trading until after I'm rich (or broke) and at that time I'll revisit who I want to do my trading with.

Your shares can still be sold if you have a margin debt in an account and it's not fixed in a certain timetable. This doesn't sound like your case but it's still something to think about if you're a more active trader.

[–]Push_Citizen 3 points4 points  (3 children)

who is the least bad broker right now? is there any consensus?

[–]OhDiablo🦍Voted✅ 3 points4 points  (2 children)

ATM it seems to be Fidelity but mentality can shift quickly.

[–]donedrone707Resident GME Chaos Magician 22 points23 points  (9 children)

No they won't. BUT we are approaching unprecedented times and I, for one, won't rule out government intervention to at least tamper MOASS slightly (ie removing all 401k shares from existence and replacing with the cash value at close on a day when we are sub $200).

I have a few dozen shares in my Fidelity Roth account as well, but the bulk of my shares are in CS and will remain there forever.

The only 100% safe share is a share with your name printed on it in indelible ink

[–]ShredManyGnar💎NFTease💎 12 points13 points  (5 children)

There’s edible ink?

[–]donedrone707Resident GME Chaos Magician 27 points28 points  (3 children)

All ink is edible if you believe in yourself.

[–]ShredManyGnar💎NFTease💎 10 points11 points  (0 children)

Thank you 🙏

[–]lukefive 5 points6 points  (3 children)

If it takes more than 3 days (maybe 4 "for paperwork") they broke the law. Report them.

[–]WolfOfLOLStreet💻 ComputerShared 🦍 35 points36 points  (2 children)

"it's pointless to even try" mindset

This is exactly how people get away with these shenanigans. We need to not let shit slide and report anything/everything that warrants it.

Be the change or die trying.

Can I get an "Amen"!?

[–]WiglyWorm💻 ComputerShared 🦍 331 points332 points  (12 children)

yes please file a complaint with the private corporation that is in charge of keeping the other private corporations in check.

[–]Blunder_Punch🎮 Power to the Players 🛑 113 points114 points  (0 children)

He was much better to share it on here so people know to DRS outta there. That will hurt these fuckers more than anything else we can do.

[–]mostlyfecalmatter 20 points21 points  (0 children)

southpark cable company nipple rub episode

[–]turtleduck777 147 points148 points  (7 children)

Like telling the police when the police are being police.

[–]Doobiesnackin🦍 Buckle Up 🚀 68 points69 points  (6 children)

I once saw a cop, blatantly break the law by driving his motorcycle on the sidewalk. I casually told him that it was violation. His response was, “What are ya gonna do about it? Call the cops?”

[–]slabrangoon Gourmet Crayon Chef 👨‍🍳 21 points22 points  (3 children)

There’s always a bigger fish so yea that’s what you could have done

[–]Darkhoof🦍Voted✅ 9 points10 points  (0 children)

It's still better than nothing. I would file a complaint with state securities regulators though.

[–]soberdudeQuestion Everything and Hodl 🦍 Voted ✅ 10 points11 points  (0 children)

The complaint is a paper trail. I'd say do it

[–]solo_loso💻 ComputerShared 🦍 7 points8 points  (9 children)

I know fidelity is our bff, but should i fight them when they did me dirty?

I explicitly asked for last in first out on my DRS, but they did the opposite.

They won’t let me listen to the recorded phone cal and are telling me i never asked for it.

[–]ZeromexI just want to be free &#128558 5 points6 points  (0 children)

I think the fact that you try could be used in court, not sure about this

[–]sweettoothj🎮 Power to the Players 🛑 6 points7 points  (0 children)

Documentation is key. Regardless if they do anything or not. Guarantee his complaint gets filed where the next guy in that role Post-MOASS, whose job it is to rebuild. Can see previous points of failure. Eventually, it could help

Ie. We pulled a forum post about cellar boxing from 2005. Bet OP never woulda thought apes of the future would have been excited to have found it

[–]Spyder638🎮 Power to the Players 🛑 86 points87 points  (1 child)

Don’t worry, you’ll usually get a warning

[–]geekfly 25 points26 points  (0 children)

In other words...brace yourself, I'm going in dry.

[–]rumbo211 202 points203 points  (8 children)

When you feel them apply the Vaseline you know what's coming.

[–]Seppuku_tm💻 ComputerShared 🦍 46 points47 points  (1 child)

Brokers be like, "Goddamn I'm glad y'all set it off Used to be hard now you're just wet and soft"

[–]congratsballoonwe own floats down here 19 points20 points  (0 children)

... First you was down with the AK

[–]FallingSputnik🦍 Buckle Up 🚀 19 points20 points  (0 children)

Warning message: Upon reading this message, ur fuk.

[–]UnderstandingOk3380🦍 Buckle Up 🚀 15 points16 points  (0 children)

...usually

[–]NuQueenMidas 14 points15 points  (0 children)

Truth is they warning us now ! Somebody need to sound the Alarm! Looks like our only hope is to get to high ground (Computershare) !

[–]Aliceinsludge🦍 Buckle Up 🚀 42 points43 points  (6 children)

bite the pillow kinda warning

[–]ragingbull2020 10 points11 points  (5 children)

When you see the money left on the nightstand kinda thing

[–]Radio_Traditional🦍 Buckle Up 🚀 10 points11 points  (4 children)

In this case, the IOU on the nightstand.

[–]ragingbull2020 5 points6 points  (3 children)

Haha. Maybe where you wake up and your nightstand is missing

[–]Radio_Traditional🦍 Buckle Up 🚀 3 points4 points  (2 children)

OK that one made me lol. So sad but true.

[–]ragingbull2020 4 points5 points  (1 child)

Bathtub full of ice and your kidney is missing

[–]JLee_83🦍Voted✅[🍰] 2 points3 points  (0 children)

Hey, I told you exactly what I was doing after you passed out from the royhpnol.

[–]Cii_substance💻 ComputerShared 🦍 9 points10 points  (1 child)

Wrong. You’ll USUALLY get a warning before we fuck you over. Do these feel like typical days to anyone?

[–]Ps15tmlet's go 🚀🚀🚀 11 points12 points  (0 children)

If Brokers go PCO this time we know we can still by directly from CS. In the US at least. I can keep the pressure on even if they try to stop me.

[–]Shorttail0💻 ComputerShared 🦍 5 points6 points  (0 children)

Just like the bullet coming out of the gun is a timely warning.

[–]kbr8510💻 ComputerShared 🦍 18 points19 points  (0 children)

“Usually”

[–]arealhumannotabot💻 ComputerShared 🦍 5 points6 points  (0 children)

Sorry you got the warning after we turned it off. That was not our intention. /s

[–]24kbuttplugWILL DO BUTT STUFF FOR GME 5 points6 points  (0 children)

Like a 10 second warning? Just long enough for you to be able to log in and then watch your order get denied.

[–]Non-Current_Events 14 points15 points  (0 children)

"Usually..."

[–]StayGlazzy💩 I smear shit over my walls 💩 9 points10 points  (2 children)

I usually like to get a heads-up before I get fucked in the butt.

[–]bobmahalo💻 ComputerShared 🦍 4 points5 points  (1 child)

usually, but then there are those other times...

[–]highlow83🎮 Power to the Players 🛑 765 points766 points  (14 children)

So… at their discretion when met with unfavorable circumstances, this is acceptable now?

[–]azraelum 324 points325 points  (10 children)

Well since RH started it and they all pretty much got away with it so i guess “fuck you” customers if they’re on the loosing side of the trade.

[–]boywbrownharejack-titsu black belt 213 points214 points  (8 children)

It's unfuckingreal that 9 months later, no one has even faced charges. What the actual fuck

[–]lukefive 129 points130 points  (0 children)

The system is completely fraudulent

[–]BegriefedOnline💻 ComputerShared 🦍 65 points66 points  (1 child)

Everyone bet on black (bought calls) and in the last second that the roulette wheel was still spinning, with the ball settled firmly into black, the casino smashed the wheel with a sledge hammer and said the game was canceled.

It is a good thing that everyone apparently only bet what they could afford to lose, or some angry individual may have had nothing left to lose. They stole hundreds of millions of dollars, if not billions, from thousands of people. It is fucking crazy.

[–]Creative_alternative 41 points42 points  (0 children)

Billions, from millions of people.

[–]TDmorty🌿 High [10] Druid of Runic Glory 🕳️'s 64 points65 points  (1 child)

Maybe people should wake the fuck up and realize the social contract is null and void?

What happens now?

[–]ddponti🦍Voted✅ 34 points35 points  (0 children)

DRS

[–]JM_McCoy🎮 Power to the Players 🛑 26 points27 points  (0 children)

Better to pay a fine instead of go insolvent I guess.

[–]JohnODonn💻 ComputerShared 🦍 1463 points1464 points 2 (108 children)

Thanks for getting this on r/Superstonk u/Worth-Draft8909!!! Schwab is fucked!!

[–]colorfulsocks1💻 ComputerShared 🦍 91 points92 points  (13 children)

High jacking top post to comment on my personal experience DRS’ing from schawb. Long story short, they provided a fake confirmation number twice and when I called after 2 weeks asking why my DRS wasnt done they said they had no idea of the DRS being initiated. The agent I spoke to that let me know my confirmation number was fake could see in my chat I had correctly asked to initiate a DRS and been given a fake confirmation number but all she did was apologize and said she had done it right this time. That was 3 days ago and Im still waiting on my shares.

[–]MyCryptoStuffAccount🦍 Buckle Up 🚀 24 points25 points  (6 children)

I initiated a DRS transfer from Schwab over three weeks ago. I called a week later when I still saw those shares in my account, and was told that a broker “forgot to push a button” and the transfer was never even put in motion. I asked them to resubmit, and they assured me they now had (I foolishly didn’t get a confirmation number, as this was before all this fuckery became commonplace). It’s now been over two weeks since that call, and the shares are gone from my account but i haven’t heard anything else from anyone.

Gonna call today and demand an explanation, and then transfer all but like two of my shares to fidelity and DRS from there. I’ve been with schwab for a looooong time, but fuck em I’m done getting dicked around.

[–]jjenkinss 12 points13 points  (4 children)

If your shares are gone go to computer share website and register an account. They’re likely waiting for you under your SSN. Confirm identity and bask in the purple donut

[–]dayspringsilverback🎮 Power to the Players 🛑 13 points14 points  (0 children)

Just initiated my DRS today with Schwab, I think I’ll call tomorrow for a status. And every day after until I get my purple donut.

[–]Zestforblueskies 15 points16 points  (2 children)

Wow!!! If anybody who CAN move their shares to Fidelity & CS still are using any other brokers (US APES) then you should just give them your money now and walk away. If you can't spot the fuckery now then you are the suckers, no doubt about it.

[–]ill_nino_nl🦍 wen Lambo? 🦍 11 points12 points  (0 children)

Cries in Europoor

[–]Keykeyvonpazski🦍 Buckle Up 🚀 449 points450 points  (61 children)

So you're going to transfer the remaining out of Schwab right? To a more reputable broker? No ape should stand for this and should move their business immediately

[–]DevilsPajamas🦍 Buckle Up 🚀 103 points104 points  (12 children)

Computershare preferred. If not fidelity. Fuck all other brokers

[–]BlindWillieT💻 ComputerShared 🦍 34 points35 points  (2 children)

This is the way

[–]Busta_Nutt_69🦍 Buckle Up 🚀 12 points13 points  (0 children)

The way is this

[–]Keykeyvonpazski🦍 Buckle Up 🚀 15 points16 points  (0 children)

Agree 100%. Just know some apes don't want to transfer 100% of their position (for whatever reason) so definitely want to give them the best option.

[–]akatherder🦍Voted✅ 3 points4 points  (3 children)

My stock is in a Fidelity IRA in so I can't transfer to Compushare (without taking the tax/early withdrawal penalty). It's the second most secure feeling I can have... Looking to buy some direct from Compushare though. Enough to help the infinity pool at least.

[–]skydivingkittens🎮 Power to the Players 🛑 198 points199 points  (44 children)

Do you have a recommendation? I currently have 100% in Schwab and haven’t DRS’d yet but will ASAP.

[–]Keykeyvonpazski🦍 Buckle Up 🚀 126 points127 points  (4 children)

I am personally in Fidelity for my few remaining non-DRS shares. They honestly have been great overall and they didn't shut off the buy button in January as well.

I've DRS twice now and they both have taken 3 days even in the middle of the huge movement.

[–]findingbezu🦍Voted✅ 61 points62 points  (3 children)

Reading this in the middle of a huge movement. May or may not wipe.

[–]Just_Another_AI💻 ComputerShared 🦍 18 points19 points  (1 child)

DRS>wipe

[–]findingbezu🦍Voted✅ 12 points13 points  (0 children)

🌍👩‍🚀🔫👩‍🚀

[–]zabuza5🎮 Power to the Players 🛑 312 points313 points  (16 children)

Fidelity

[–]coconuthead684🦍 Buckle Up 🚀 174 points175 points  (9 children)

def fidelity.

[–]Y0u_stupid_cunt🦍 Buckle Up 🚀 24 points25 points  (0 children)

Fidelity fucks

[–]FiftyPaneristi💻 ComputerShared 🦍 89 points90 points  (2 children)

Definitely fidelity as the brokerage and Computershare for ♾️ 🏊‍♂️

[–]wywyknig💻 ComputerShared 🦍 24 points25 points  (1 child)

fidelity

[–]azidesandamides💻 ComputerShared 🦍 17 points18 points  (0 children)

Fidelity fucks

[–]LanacongaFisting your wife 12 points13 points  (0 children)

Initiate the transfer through fidelity not Schwab and it will transfer in 3 days even tho fidelity says 5

[–]drunkinmidget💻 ComputerShared 🦍 12 points13 points  (0 children)

Fidelity

[–]SnowCappedMountains💻 ComputerShared 🦍 5 points6 points  (0 children)

I had the same, I opened a fidelity and was shocked how easy it was. And they let you transfer shares to them without even needing to call, took all of five minutes. I still have a few shares in Schwab but the lion’s share is CS followed by now fidelity.

[–]chiefoogabooga🦧 I can count to potato 18 points19 points  (0 children)

Fidelity fucks hard.

[–]hopethisworks_💻 ComputerShared 🦍 19 points20 points  (0 children)

1000% Fidelity.

[–]SpacedSlayer 34 points35 points  (0 children)

Good job asking directly. The kind of shit this thing is demonstrating is insane.

[–]seemoss💻 ComputerShared 🦍 62 points63 points  (19 children)

Did you provide proof to mods? I have XXX in Schwab.

[–]BeplerTrans-Porcelain-Hyper-Loaf 🦍 Voted ✅ 42 points43 points  (1 child)

Lol, they Gon fuck you so hard, get em outta there!

[–]workinghormiga🦍Voted✅ 23 points24 points  (0 children)

RH 2.0

[–]Creative_alternative 112 points113 points  (9 children)

Actually you have 0 shares in Schwab, and xxx IOUs they aren't legally required to ever provide you in the event of a failure to deliver. Rather, they just have to pay you back the value of the shares on the close in cash on whatever day that failure occurs. Time to gtfo.

[–]yeti7100🦍Voted✅ 49 points50 points  (1 child)

You're so right and it's so disgusting. As if stealing everything else wasn't enough they stole our buy pressure and laughed about the short against the IOU's. I bet there is a magic ratio like one short to every 20 IOU's that no retail client has ever recovered from.

Now they are saying it's their discretion to restrict buying or selling? Why do they exist again? It's so foul.

[–]JohnODonn💻 ComputerShared 🦍 5 points6 points  (1 child)

Update: Transfer initiated to Fidelity...Kevin can kick rocks.

[–]ComfySofa69🦍Voted✅ 872 points873 points  (14 children)

jeez - thats like saying..... "We'll warn you about the crime before we commit it...."

[–]wildo83 390 points391 points  (4 children)

Your honor.. I TOLD the bank I was going to rob it!

[–]bartleby999🦧 take your protein 💊 and put your 👨‍🚀 on 334 points335 points  (1 child)

I even provided written confirmation to the teller on the day.

[–]bobmahalo💻 ComputerShared 🦍 25 points26 points  (1 child)

"We'll warn you about the crime before while we commit it...."

there, i fixed it for you.

[–]saraphilippHere have some 💩, it's delicious 🦍 Voted ✅ 39 points40 points  (0 children)

Usually

[–]Nongster 17 points18 points  (0 children)

"usually"

[–]UnderstandingOk3380🦍 Buckle Up 🚀 10 points11 points  (0 children)

...maybe

[–]Like_d_stonk🦍 Buckle Up 🚀 406 points407 points  (16 children)

Wow schwab don’t beat around the bush

[–]brrrrpopop$GME Gang 181 points182 points  (2 children)

Honesty about corruption in this industry is so rare and wholesome.

[–]Like_d_stonk🦍 Buckle Up 🚀 61 points62 points  (1 child)

Yeah let it all out Schwab

[–]AustralopithecusBCE✊Power to the Hodlers🎮 16 points17 points  (0 children)

Initiated my transfer from TDA to Fidelity this morning. This was confirmation that I made the right choice.

I go to Fidelity! Purple donut next!

[–]TheRealJugger 128 points129 points  (9 children)

Yes, it is their brokerage, it is their discretion… that’s why DRS is the way

[–]Independent-Ad4660💻 ComputerShared 🦍 199 points200 points  (2 children)

lmao WHAT

[–]jiinska🕹 Joystock 🕹 73 points74 points  (1 child)

I wheezed reading that. Also they "usually" warn when they do illegal shit lmayo

[–]southpluto 18 points19 points  (0 children)

"Aye my b fam we meant to call you"

[–]Blitzkreig11930🦍Voted✅ 256 points257 points  (7 children)

Wtf!!! Our discretion?? They Re going to need a bigger jail to house all these crooks!!

[–]I-Love-Game-Stop 42 points43 points  (6 children)

And a bigger jail too

[–]Blitzkreig11930🦍Voted✅ 14 points15 points  (0 children)

Thanks

[–]brrrrpopop$GME Gang 18 points19 points  (4 children)

It sounds like they are confident they can legally do this which is the sad part. Probably in the terms and conditions. Although Schwab of all brokers shouldn't need to do this. Aren't they one of the biggest for boomers? My mom's hodling her 8k shares of BofA with them. Diamond hands.

[–]Realitygives0fucks 12 points13 points  (3 children)

I’d be selling those BoA shares about now.

[–]brrrrpopop$GME Gang 4 points5 points  (2 children)

Believe me, I've tried. She finally sold the 170 shares she had in my name at $43.40 or something and reminds me everyday how interest rates are rising, Jim cramer likes BofA, don't take your money out the banks.

[–]Realitygives0fucks 8 points9 points  (1 child)

Dear god. Poor thing will be disappointed, lucky you hold GME.

[–]brrrrpopop$GME Gang 5 points6 points  (0 children)

She holds 55 GME @ 239. I trust this will make up for her boomer stocks.

[–]Angelaira74💎Apette 225 points226 points  (0 children)

They are behaving as if this is just normal trading behaviour for brokers. How can anyone trust our system when the flippant displays just never end?

[–]Feeling_Ad_411🦍 Buckle Up 🚀 216 points217 points  (5 children)

Send that to SEC lmfao

[–]GildDiggerFreshly Squeezed™🦍 Voted ✅ 98 points99 points  (2 children)

Pretty sure they only have a ‘junk mail’ folder and no ‘inbox’

[–]Feeling_Ad_411🦍 Buckle Up 🚀 54 points55 points  (1 child)

Just title it “xvideos secret stash”

They’ll read it

[–]turdmachine 19 points20 points  (0 children)

Or “Citadel paycheck processing error”

[–]bobbybottombracket💻 ComputerShared 🦍 8 points9 points  (0 children)

Reply: Sorry Schwab wanted to turn off buy/sell button. A $10 fine should teach them a lesson.

[–]guy321456🦍 Buckle Up 🚀 115 points116 points  (6 children)

Then schwab on the deck and flop like a fish

[–]Reveen_💻 ComputerShared 🦍 31 points32 points  (2 children)

That was so stupid but I actually lold

[–]guy321456🦍 Buckle Up 🚀 5 points6 points  (0 children)

That’s why I’m here

[–]FlatteringFlatuance 6 points7 points  (0 children)

No-buy Short-sell! (SEC cant heaaar you!) NO-BUY SHORT-SELL!

[–]einfachman💠𝐌ⓞ𝓐𝐬𝓈 𝐈ᔕ ι𝔫𝓔ᐯ𝕀𝓽a𝕓 ℓέ💠 109 points110 points  (1 child)

Usually? So, you can’t even count on that. Lmayo.

[–]brrrrpopop$GME Gang 24 points25 points  (0 children)

The corruption is guaranteed tho

[–]Baaoh💻 ComputerShared 🦍 65 points66 points  (0 children)

This reminds me of the scene in the Big Short when Vinnie calls Venett. “How are you fucking us?”

[–]Doin_the_Bulldance 72 points73 points  (20 children)

I used to think schwab was one of the "decent" brokers - but my opinion of them has totally changed over time. When I did a "test" DRS (in hindsight, stupid to not just do all at once), they told me 3-5 days and it landed on day 5 so I felt OK with them still at that point. Went to do more and suddenly they were telling me 10-15 days.

Asked why and they told me it was a backup on Computershare's end - I started a chat with CS and they told me explicitly that there were no delays for them. So I pushed on schwab further and told them this, and they couldn't give me a real explanation (just said sorry this is what we are being told we can't promise any faster).

In the end I moved over to Fidelity to DRS from there. But yeah, I guess my point is that schwab clearly is not on the right side of this.

[–]clubbiestsealgiggles in kitty 15 points16 points  (18 children)

When did you try to transfer and got the 10-15 days? I transferred more shares on Monday and they said 2-3 days, and it was in my CS account yesterday.

Also my guess is you called them to initiate the transfer?

Edit: I've done 3 transfers from Schwab to CS and was told 2-3 days every time via Live Chat. They also transferred successfully in that timeframe given.

[–]Elegant-Remote6667💻 ComputerShared 🦍 49 points50 points  (0 children)

Wow. That is a fucking joke. Shows how much shwab care- calling computershare now to speed up letter

[–]Schmidty1166 44 points45 points  (0 children)

"We reserve the right to fuck you over"

[–]grnrngr 68 points69 points  (14 children)

If this is real, this is a shit CSR answer.

BUT, Schwab (and TDA - owned by Schwab) turned off their MARGIN buy buttons in January. They didn't prevent buying in general, just buying with unsettled funds. Whether you think that was driven by shady motives or not is up to you, but these brokerages don't have to let you buy on credit, which is essentially what buying on margin is, and if all brokerages decided tomorrow to let you buy all stocks/options on settled funds only, there isn't a damned thing you could really bitch about.

[–]Commercial_Mousse646🎮 Power to the Players 🛑 16 points17 points  (3 children)

Man, I hope they don’t fuck us over. I’m losing confidence with them By the day…

[–]ajr901🦍Voted✅ 12 points13 points  (1 child)

Personally I’m not going to wait around to be disappointed so I initiated a transfer to Fidelity from TDA yesterday. Better safe than sorry.

[–]MrMcAwesum🎮 Power to the Players 🛑 6 points7 points  (0 children)

Same! Tda to fidelity. But now I'm worried because the last guy posted up that tda couldn't find his shares to transfer. It had a settlement date of Oct 20. Hopefully it goes through then to Cs

[–]KnowledgeCultural802 3 points4 points  (2 children)

All you said is true, but there is important information to be gleaned in another regard...why did certain brokers such as TDA turn off margin buying while at least one other broker did not have to?

To me, it implies that the ones who turned it off are not well capitalized enough to weather a storm, since they got shaken up by a few billion dollars in sudden margin requirements. That is not a ship I'd want my precious investments to be on as the storm bears down.

[–]serbeardlessape want believe 🛸 12 points13 points  (0 children)

"Markets are fair."

"Oh, but by the way, we may selectively turn off the buy button for retail only."

[–]widener2004🦍Voted✅ 11 points12 points  (1 child)

Get out of Schwab.

[–]Worth-Draft8909🎮 Power to the Players 🛑[S] 39 points40 points  (0 children)

[–]TheOpeningThread🎮 Power to the Players 🛑 26 points27 points  (0 children)

Hah lmao I'm audibly laughing

[–]TheHarborym 31 points32 points  (0 children)

GDI I thought Schwab was one of the good ones.

[–]rothotindisguise💻 ComputerShared 🦍 8 points9 points  (0 children)

Kevin bacon 🥓 says no

[–]angelicious17 9 points10 points  (0 children)

Cue Anakin meme

[–]Rthepirate💻 ComputerShared 🦍 8 points9 points  (0 children)

Why do I feel like we're in for a lot more bs that we haven't even dreamed of?

[–]EUGOLIPE 8 points9 points  (2 children)

I’ve been thinking when the time is here, the price will launch off instead of a gradual increase so no one can afford to buy in.

[–]nahtorreyous🦍Voted✅ 46 points47 points  (6 children)

In fairness, once MOASS starts we don't need a buy button 😉

[–]TaiDavis🦍 Buckle Up 🚀 17 points18 points  (1 child)

Damn, now that I really think about it..you're absolutely right! Take the upvote!👍

[–]nahtorreyous🦍Voted✅ 4 points5 points  (0 children)

Everyone can sense we are getting closer. I think there is a panic right now that everyone's in the right brokers and what not. I truely think the brokers are overwhelmed (imagine if your working your job and you do x amount a year, now your getting 10x a day) and when people are transferring from one to another to drs your taking resources away. If it's so hard to find real shares, why is fidelity and CS only taking 3-4 days to get the shares?

Also, if it is shorted 1x, 2x, Xx (whatever) not everyone will be able to DRS. That's okay, you bought shares and they owe you those shares

I'm gonna be called FUD or a shill but people have to be zen. This is the easy part, it's only going to get more challenging from here.

[–]Classic_Rando_ 20 points21 points  (0 children)

That’s... like... egregious, man...

[–]PrecariouslyLevel💻 ComputerShared 🦍 5 points6 points  (0 children)

I bet I know who is now only leaving one share in Schwab.

[–]NoOutlandishness6829 50 points51 points  (8 children)

I don’t see this as an issue anymore. Will turning off the buy button even matter come MOASS? My understanding was that the January event was a gamma squeeze caused by increasing retail FOMO catching everyone off guard so MMs and SHF‘s (primarily, Citadel and RH) did something about it (I.e., conspired) with RH and a few others to stop the FOMO buying by shutting off the button. When true MOASS starts, it will be caused by something totally out of their control to stop such as, cough cough, a change to a rule by the SEC that fuks them, or a margin call in which computers forcibly start buying up shares to liquidate or close positions, or apes have locked the float thru DRSing (LFG!!) preventing lending or GameStop issues an NFT DIVIDEND that fuks them, or GME recalls their shares or does something that forces SHF to close all positions… in other words, something procedural that causes something out of MM or SHF control. Shutting off buy button at the point of MOASS will simply be like a trading halt because it won’t erase the conditions causing the MOASS-level squeeze. In this ape’s humble opinion, and to quote Morpheus’ wise teachings to Neo, what I’m saying is, when the MOASS starts, you won’t have to worry about the buy button anymore. All I'm offering Is the truth. Nothing More.

[–]calimemez 14 points15 points  (0 children)

I feel it, but what kind of bullshit is that. Also, FOMO can only help the price get started and without FOMO, it can only not hurt it if that makes sense.

[–]Texasgolfguy 16 points17 points  (6 children)

Will they turn off the fucking sell button this time though when shares are in the millions$$

[–]pdawg1234 6 points7 points  (4 children)

No for 2 reasons. 1) They get commission from your sold shares, 2) large sell pressure brings the price down which is what the HF want. So if they’re pulling the strings behind certain brokers, they wouldn’t wanna do that.

[–]Bump_It_Louder🦍Voted✅ 34 points35 points  (1 child)

Fidelity didn’t turn off the buy button. Go with Fidelity.

[–]Icy_The🦍 Attempt Vote 💯 16 points17 points  (0 children)

to fidelity then to CS

[–]GothMaams💻 ComputerShared 🦍 5 points6 points  (0 children)

Aww hell naw well whoever still uses them…probably shouldn’t.

[–]DojaDonDadaMOASS Suplex on a Market Maker 🦍 6 points7 points  (0 children)

LMAOOOO “Yeah dont get it twisted, my boy, its still up to us if and how we decide to fuck you silly. But we’ll let you know before we do”

[–]TrustedPatriot47🎮 Power to the Players 🛑 5 points6 points  (0 children)

You don’t own any shares at Schwab I have them to and I transferred as soon as they told me that they use citadel I knew it was time to go

[–]Cool-Cookies🎮 Power to the Players 🛑 5 points6 points  (1 child)

Tell your friend to quote "DTC 11870, you have three days to transfer my shares to Fidelity (or IBKR for international)." Then once complete off to CS he goes. Fuck these "it's our discretion" fools. It's YOUR SHARES AND YOUR MONEY.

[–]beachplzzz🎮 Power to the Players 🛑 4 points5 points  (0 children)

Why are people surprised?... this broker also sucks and we've known this for a while.... if anyone gets screwed in the end because they stayed with pieces of shit like this...well then at what point does it become your own fault....

It shouldn't be this way...but it is unfortunately

[–]F1shB0wl816 6 points7 points  (0 children)

It’s not a free market when you can pick and choose when to offer your services.

[–]PatarokunGMERICAN 5 points6 points  (0 children)

"You're not going to hit me in the neck with that baseball bat, are you?"

"Rest assured you'll usually get a warning before we do."

[–]skyramalpha🦍 Buckle Up 🚀 11 points12 points  (0 children)

Glad I transferrrd 90% of my shares (my OG broker) from Schwab. Kept a few cuz diversity yo

[–]aandrettiur wifes ex boyfriend 👫 ➡️ 🦍 3 points4 points  (0 children)

Wow fuck that and fuck them

[–]WrathofKhaan💻 ComputerShared 🦍 4 points5 points  (0 children)

Schwab is PFOF so they will absolutely turn off the buy button. You cannot trust any PFOF broker.

[–]seemoss💻 ComputerShared 🦍 3 points4 points  (0 children)

Have mods verified this?

[–]Mutterbomser_I'll bombs your mutter!! 15 points16 points  (0 children)

Interesting, indeed

[–]Vega-Genesis💻 ComputerShared 🦍 3 points4 points  (7 children)

What about Fidelity?

[–]GradyWilson💻 ComputerShared 🦍 5 points6 points  (6 children)

They didn't shut off the buy button in Jan, but when the price is much much higher, who knows?

I'd like to hear Fidelity publicly state that they will protect retail investor's ability to participate in the market even during an exceptional and unprecedented squeeze situation like moass.

[–]echowon🦍Voted✅ 3 points4 points  (0 children)

Not an "if" we do...but a "when" we do

[–]craneoperator89💻 ComputerShared 🦍 4 points5 points  (0 children)

“Free and fair market” totally not corrupt

[–]UncleZiggy💻 ComputerShared 🦍 3 points4 points  (0 children)

usually

Get out of there man! Yikes

[–]Extra-Computer6303🟣All your shares R belong to us🟣 4 points5 points  (0 children)

“Usually” 🤷🏼 Is turning off the buy button such a regular thing that they now have a standard operating procedure.

Shutting off the buy button was unprecedented and there is nothing normal about it.

[–]CookShack67💻 ComputerShared 🦍 8 points9 points  (11 children)

Why would you leave any shares there knowing how the DTC uses them to help SHF?

[–]thethicktrader🦍Voted✅ 2 points3 points  (0 children)

I’d just transfer the remaining shares as well at this point

[–]Salt_Crow_5249 2 points3 points  (0 children)

I think I can collectively say for this entire sub “what the fuck??”

[–]G_Wash1776ape want believe 🛸 2 points3 points  (0 children)

This is why I have my shares in Fidelity and Computershare. Fidelity will not turn off the buy button they never did to begin with.

[–]Rowspicyplaydoe 2 points3 points  (0 children)

Huh...wl then, guess ill go head and ask tda the same shit.

[–]imdesigner311🦍Voted✅ 2 points3 points  (0 children)

That is so fkn infuriating

[–]clappasaurus 2 points3 points  (0 children)

“Own Your Tomorrow” 🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩

[–]Byronic12🎮 Power to the Players 🛑 2 points3 points  (0 children)

...should’ve asked about the sell button.