Ann: Shareholder Support and Instructions, page-82

First 82 Last

Share
Profile

Follow
Iain123

26 Posts.

1

29/12/23

20:34

Post #: 71663459
Share

Originally posted by limbo76: ↑

I have used CommSec Intl the last month to trade US shares to get a feel for it before we get our holder statements. Even though CommSec uses Interactive Brokers client platform, there are some severe functionality limitations compared to the full IB platform.

1: Others are correct in that we cannot currently purchase IXHL as it is deemed a microcap. I however did manage to buy some a couple weeks ago most likely when the MC was incorrectly listed. From what I can gather, a microcap in the US is anything under $300M MC, which equates to roughly $20 stock price I believe? (Happy to be corrected on this)

2: I am able to sell my IXHL that I managed to purchase even though it is now deemed a microcap so hopefully this means we can sell our existing shares once they transfer regardless of MC.

3: We cannot buy or sell parcels larger than 500 in one order, although you can queue up orders of 500 to purchase/sell more.

4: Orders cannot be executed during pre- or aftermarket but can be placed at any time. These orders will only be active during normal NYSE trading hours.

5: Order expiration is limited to the day therefore if you set a buy, sell, stop loss etc you need to set it up every day if isn't hit.

6: You cannot short stocks. (I don't do this but discovered it by accident when I tried to set a stop-loss on shares I had already set a sell order on at a higher price.)

All in all CommSec Intl is not the best but as I am currently overseas of no fixed abode I am not in the position to open other online brokers so I will persevere for now.

Expand

Straight from the commsec website:

"A security is deemed a microcap if at any time in the last 30 days, the share price fell below $5, or the market capitalisation (market cap) fell below $300m.
For a security to no longer be treated as a microcap, it would need to trade above $5, or its market capitalisation (market cap) would need to exceed $300m for no less than 30 consecutive days."

we may be above $5 soon in which case we'll be able to trade on commsec if it holds for 30 days

IHL Price at posting: 4.1¢ Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

Week 34 Wrap: HotCopper's top watched; Oz banks cut saver interest; Kamala’s 28% corporate tax; AI’s back

The Rising Tide: How institutional adoption is shaping the future of crypto

PLS

Pilbara blames low lithium prices for 89% drop in profit for FY24

SER

How flooding did Strategic Energy Resources a favour: Four holes down in 'redesigned' gold & copper campaign

CC9

Chariot locks in high-potential drill target at Black Mountain, one of the USA's largest lithium landholdings

There are more pages in this discussion • 888 more messages in this thread...

First 82 Last

Add IHL (ASX) to my watchlist

Ann: Shareholder Support and Instructions, page-82

Top Stories

Week 34 Wrap: HotCopper's top watched; Oz banks cut saver interest; Kamala’s 28% corporate tax; AI’s back

The Rising Tide: How institutional adoption is shaping the future of crypto

Pilbara blames low lithium prices for 89% drop in profit for FY24

How flooding did Strategic Energy Resources a favour: Four holes down in 'redesigned' gold & copper campaign

Chariot locks in high-potential drill target at Black Mountain, one of the USA's largest lithium landholdings

Featured News