RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:The $GME Market INFECTION Moves To BMO !!!?????!!!Most of banks have a brokerage arm, and they do dominate in Canada. However, there are still some independents left like Interactive Brokers, Questrade, Canaccord... thats about it that I can think of off the top of my head (definitely not as many independent brokerages around as in the old days)
Backinblack1000 wrote: majority of brokers/platforms are backed by banks now....aren't they/
Chris007 wrote: no, its protection if the brokerage goes kaput
Backinblack1000 wrote: Investor protection of one mill, cover if you had your computer or accouunt hacked??
Chris007 wrote: Actually, you're protected up to $1 million by MFDA IPC
https://mfda.ca/mfda-investor-protection-corporation/mfda-ipc-coverage/ I think the 100k you were think of is the CDIC, which covers eligable deposits
https://www.cdic.ca/your-coverage/how-deposit-insurance-works/ Backinblack1000 wrote: Now that you mention that...by all rights...a guy probably should not have more than 100k cash at any one broker anyhow....right?? Or have you looked into that??
Chris007 wrote: If you really want in on the action so badly, just buy with cash...all these restrictions are margin-related, which is understandable on the part of the broker.
If they don't wish to front you money to leverage your highly speculative bets, thats their business.
cahclick wrote:
IF, you own one or more of the stocks on the list that can no longer be shorted is that not a good thing ? Seems to me it's good for longs.
Backinblack1000 wrote: well, even discussing an anti short strategy has to have the dusters in the world, thinking???
which is not always a bad thing, when you start betting against the sucess of a business, especially in oil and gas.....in my opinion...
2020oilgamble wrote: Welcome to the free market where the rich help the rich get richer
Backinblack1000 wrote: And these restrictions serve what purpose? To protect the shorters and hedge funds??
quote=Eigen337]
Lastly, we have placed trade restrictions on several securities. These restrictions will not prevent you from making basic buy and sell transactions. This list is current as of January 29, 2021, 6:30 p.m. ET.
The following restrictions are in place:
- Options trading - no naked or uncovered options trading for: AAL, AMC, BB, BBBY, CVM, DDS, EXPR, FOSL, FIZZ, GME, GSX, IRBT, KOSS, NAK, NAKD, NCMI, NOK, TR, UONE, VIR
- Margin rate for stocks and options increased from 30% to 75% for: BB, BBBY, NOK
- Margin rate for stocks and options increased from 30% to 100% for: GME
- Short selling - no short selling for: AAL, AMC, BB, BBBY, CVM, DDS, EXPR, FOSL, FIZZ, GME, GSX, IRBT, KOSS, NAK, NAKD, NCMI, NOK, TR, UONE, VIR
We are continuing to monitor the situation and may add additional restrictions or tickers on an ongoing basis.
[/quote]