u/greytoc

There's been some discussion about Schwab banning accounts. And the reasons...

As a reminder - a broker is not obligated to provide services to a customer if a broker doesn't believe the customer's use of the broker services is in the best interest of the broker or other brokerage customers.

If you are an active trader, you must follow house rules along with regulatory requirements.

And if you are using an edge that will negatively impact the broker or the broker's customers and providers such as attempting to arbitrage price improvements, a broker will ban you.

In the past few weeks and months, Schwab has been banning such accounts.

There has been a few questions about access to the SpaceX IPO in this subreddit.

In the past many years - Schwab has not participated in offering access to IPO's and DPO's despite having an existing IPO access program.

Schwab has restarted their IPO/DPO access program. And I did speak with Schwab this morning to confirm.

And Schwab will be participating in the SpaceX IPO offering.

If you previously were enrolled in Schwab's IPO program - there is a new IPO access agreement and notification that you will have to sign.

Links here

https://www.schwab.com/learn/story/how-to-invest-in-ipos-at-schwab

https://www.schwab.com/stocks/ipo-direct-listing

schwab.com/ipo

The process works the same as other brokers. You have to submit an IOI (indication of intterest) to the broker. Schwab uses the term - COTP - Conditional Offer to Purchase.