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re: Which firm do you like? Looking to possibly get away from fidelity
Posted on 2/19/21 at 8:27 pm to Lucky_Stryke
Posted on 2/19/21 at 8:27 pm to Lucky_Stryke
Good things take time, if you invest in a hurry like this I think you will find on average that you wont hold on to your money long.
That being said, depending on your trading style different brokerages have various appeals. For instance, I like looking at charts and technical analysis. TD Ameritrade offers a free trading platform called ThinkorSwim (TOS)that I think is excellent.
That being said, depending on your trading style different brokerages have various appeals. For instance, I like looking at charts and technical analysis. TD Ameritrade offers a free trading platform called ThinkorSwim (TOS)that I think is excellent.
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Posted on 2/19/21 at 8:33 pm to lostinbr
Haven't used Fidelity but TDA is what I got and it is really good. TOS is very badass and a lot of things you can do on there. I was using the website version, and it is pretty damn good interface but you just got to get used to it. Once the merger with Schwab is done, you supposedly will have access to all of their versions, TDA has 2 and Schwab has 2 I think. Not sure how long that will last though as I'm sure they will consolidate it down some. TDA customer service is pretty decent the times I've called but it did have a 45 and 3o min wait.
Posted on 2/19/21 at 8:40 pm to Lucky_Stryke
Find the right vin planner at LPL. I have one in particular that I am comfortable offering a referral.
Posted on 2/19/21 at 9:21 pm to KickPuncher
I’m curious about the opinions for this topic. I’ve seen the bad side of a lot of companies. I had USAA for years. They sold everything to victory capital. Now it’s high management rates plus garbage UI.
I also had a prudential account. I’m overwhelmingly dissatisfied with them. I let that IRA go dormant and they liquidated an entire $10k holding to satisfy a $39 annual fee.
I moved my Prudential account to a friend with Northwest Mutual ...those fees are pretty harsh.
I just opened a Vanguard account. We’ll see how that goes.
I still have a dormant Sharebuilder account, which I think is TD Ameritrade now....maybe I’ll recommit to that one.
I also had a prudential account. I’m overwhelmingly dissatisfied with them. I let that IRA go dormant and they liquidated an entire $10k holding to satisfy a $39 annual fee.
I moved my Prudential account to a friend with Northwest Mutual ...those fees are pretty harsh.
I just opened a Vanguard account. We’ll see how that goes.
I still have a dormant Sharebuilder account, which I think is TD Ameritrade now....maybe I’ll recommit to that one.
Posted on 2/20/21 at 9:17 pm to Lucky_Stryke
I have used all the firms- Fidelity, Vanguard, TDA, Schwab, Merrill.
All good but best overall are Fidelity and Vanguard.
All good but best overall are Fidelity and Vanguard.
Posted on 2/20/21 at 10:39 pm to supadave3
If you like to trade, and actively buy and sell, Robinhood is shite. Too many times I've seen it crash at market open where I cant buy or sell.
Posted on 2/21/21 at 8:00 am to Lucky_Stryke
I would look at having accounts at more than one firm. If one is having a problem or issue, you can try the other platform(s).
Before you switch, I would ask the new place basic questions to make sure it is a fit for you. For example: do you trade options that expire the same day where you are opening the position the same day as expiration? Fidelity had a policy change back in November for new clients/those that were approved for options trading after October 2020 where you can't make opening options trades on the date of expiry unless you have at least $1 million in the account. Customers under that threshold have to call their trade desk to have someone place the opening position for you and then you can close it out through Active Trader Pro.
When GME was all the rage and RH had trading restrictions, Schwab did not allow options trading on GME for one day. Fidelity did not impose restrictions.
Fidelity had speed and reporting issues recently. I think some of that had to do with the blizzard in Texas. Positions that I had closed that day still appeared in my account, so I called them to make sure the positions were truly closed.
I prefer Fidelity. I find the charting is easier. I don't think Schwab offers time and sales information which is easy to pull up with Fidelity and you can export that information as well as charts.
I find that I get way more price improvement on my option trades with Fidelity than with Schwab. I had a case within the last month where the price of the stock was spiking and I had pre-filled the ticket to close the options at the same limit price and placed the orders with each platform at the same time.
The orders got filled at the same second which I confirmed by looking at time and sales, but Schwab filled it at my limit price, whereas Fidelity gave me almost 40¢ more for the same options.
Something that does not come up often with Fidelity Active Trader Pro, but is still a quirk I don't care for is you can't buy or sell more than 200 options at one time. I haven't had this problem with Schwab.
I think every platform is going to have something that people won't like. Last year, Schwab would give me wrong ticker messages for some option trades when I used Street Smart Edge where you click type the underlying symbol and then you choose the expiration and strike price. I had to chat with Help so they could get someone to manually enter the ticker so I could trade it. This would take 15-30 minutes.
I wonder if Schwab is going to keep Street Smart Edge; migrate everyone over to ToS; or give customers a choice on which platform to use. A couple of people told me Schwab doesn't own Edge and they simply pay a licensing fee, but they now own ToS.
Before you switch, I would ask the new place basic questions to make sure it is a fit for you. For example: do you trade options that expire the same day where you are opening the position the same day as expiration? Fidelity had a policy change back in November for new clients/those that were approved for options trading after October 2020 where you can't make opening options trades on the date of expiry unless you have at least $1 million in the account. Customers under that threshold have to call their trade desk to have someone place the opening position for you and then you can close it out through Active Trader Pro.
When GME was all the rage and RH had trading restrictions, Schwab did not allow options trading on GME for one day. Fidelity did not impose restrictions.
Fidelity had speed and reporting issues recently. I think some of that had to do with the blizzard in Texas. Positions that I had closed that day still appeared in my account, so I called them to make sure the positions were truly closed.
I prefer Fidelity. I find the charting is easier. I don't think Schwab offers time and sales information which is easy to pull up with Fidelity and you can export that information as well as charts.
I find that I get way more price improvement on my option trades with Fidelity than with Schwab. I had a case within the last month where the price of the stock was spiking and I had pre-filled the ticket to close the options at the same limit price and placed the orders with each platform at the same time.
The orders got filled at the same second which I confirmed by looking at time and sales, but Schwab filled it at my limit price, whereas Fidelity gave me almost 40¢ more for the same options.
Something that does not come up often with Fidelity Active Trader Pro, but is still a quirk I don't care for is you can't buy or sell more than 200 options at one time. I haven't had this problem with Schwab.
I think every platform is going to have something that people won't like. Last year, Schwab would give me wrong ticker messages for some option trades when I used Street Smart Edge where you click type the underlying symbol and then you choose the expiration and strike price. I had to chat with Help so they could get someone to manually enter the ticker so I could trade it. This would take 15-30 minutes.
I wonder if Schwab is going to keep Street Smart Edge; migrate everyone over to ToS; or give customers a choice on which platform to use. A couple of people told me Schwab doesn't own Edge and they simply pay a licensing fee, but they now own ToS.
Posted on 2/21/21 at 6:19 pm to tigerfan4444
Am I the only one who likes InteractiveBrokers?
Posted on 2/21/21 at 8:18 pm to Grassy1
quote:
TDA, and haven't had many issues, but I see people getting better buys on Schwabb
Aren’t these two merging soon?
Posted on 2/21/21 at 9:54 pm to lostinbr
Everyone needs to give negative feedback in fidelity mobile app.
RH had a good UX but they pissed me off. Fidelity finally got my shares and I can't wait to delete RH after the last sweep.
RH had a good UX but they pissed me off. Fidelity finally got my shares and I can't wait to delete RH after the last sweep.
Posted on 2/21/21 at 10:18 pm to Lucky_Stryke
I have 3 Fidelity, RH, TD Ameritrade. Fidelity is the best in my opinion. The only downside is their phone app or desktop app are as good. I opened a $25 account at TDA purely to use Thinkorswim. The full desktop version is pretty damn powerful and the ability to write custom screeners, studies, and chart indicators is pretty amazing. It can be overwhelming when you first start using it, but once you get the hang of it, it’s badass.
I do all my screening, did, and charting in TOS but make my trades on Fidelity.
I do all my screening, did, and charting in TOS but make my trades on Fidelity.
This post was edited on 2/21/21 at 10:21 pm
Posted on 2/22/21 at 9:49 am to makersmark1
quote:
Aren’t these two merging soon?
Schwab’s purchase of TDA was completed last year. I was told by my account rep that the standard TDA platform would eventually be rolled into the standard Schwab platform, but ToS would remain as the standalone pro/semi-pro trading platform. Again, ToS and its client base were the primary reasons that they bought TDA.
Posted on 2/22/21 at 9:54 am to AugustaTiger
quote:
Am I the only one who likes InteractiveBrokers?
I don’t dislike it. I know a fair number of people who use it. When I looked at it, ToS had more of the tools that I use that applied to options trading. So I stayed with ToS. TradeStation is also a powerful platform. But again, I just stayed with what worked for me... that I was already used to. If I switch now, I’ll likely go to Dough Trading, because it was built by the original Think or Swim architect, Tom Sosnoff. When it comes to options, he’s pretty much Da Man.
Posted on 3/6/21 at 7:51 am to Grassy1
quote:
I see people getting better buys on Schwabb fwiw.
Do you, or anyone, mind explaining how this works to a newb?
I have a Fidelity acct. Mostly houses a couple 401ks (that I need to look into what to do with an old co one at some point), and some long term holds I've made over the last few yrs.
Out of WFH boredom, I've dabbled in some short term swing trades, and a few day trades. What brought me to looking for a site like this to learn more Finance stuff. So yes...I got a lot of newb questions. TIA
Posted on 3/6/21 at 9:30 am to Lucky_Stryke
i have had fidelity for over 40 years.. just 401 stuff early...now retired and used other stuff for diversification..annuities (pretty high grade ones)...bonds (very low cost purchase)..
tons of planning and investing tools....advice ( phone or in person)...
building a new tech equity bucket now ...and for trading ..no issues here...i buy and sell a lot of small stuff.hundreds of dollar purchases to a few k...bought six items friday..always get trade confirmation at night..free trades..never had issues of settlement but i have more cash in my trade bucket than i use so never really looked at needing immediate settlement..
i like them for their range...
my brother is a life long more aggressive investor with many millions of dollars and he is a td guy...he likes them a lot..he is pretty particular so i would think they offer a lot????
tons of planning and investing tools....advice ( phone or in person)...
building a new tech equity bucket now ...and for trading ..no issues here...i buy and sell a lot of small stuff.hundreds of dollar purchases to a few k...bought six items friday..always get trade confirmation at night..free trades..never had issues of settlement but i have more cash in my trade bucket than i use so never really looked at needing immediate settlement..
i like them for their range...
my brother is a life long more aggressive investor with many millions of dollars and he is a td guy...he likes them a lot..he is pretty particular so i would think they offer a lot????
Posted on 3/6/21 at 9:36 am to Lucky_Stryke
also with fidelity the first time you set up the links between them and your bank accounts it takes time ...but once set it is faster..
Posted on 3/6/21 at 11:03 am to Lucky_Stryke
I have fidelity, interactive brokers, robin hood, and even a webull account that isnt funded so i can use their charting. I am doing my roth in fidelity. And i plan to move everything to interactive brokers from robin hood just because i play the spacs and interactive brokers has the best margin deals.
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