IB, but you’re panicking too early because no one knows whether TDA of IB or any other broker will get better or worse by the time anything will change. And why would Schwab acquire TDA and then destroy everything that TDA was built on?
Charles Schwab in talks to buy TD Ameritrade, deal could be announced as early as today
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IB, but you’re panicking too early because no one knows whether TDA of IB or any other broker will get better or worse by the time anything will change. And why would Schwab acquire TDA and then destroy everything that TDA was built on?
Just wondering at this point. I have used IB before but wasn't crazy about their platform. Schwab likes to do everything their own way. I am not sure they are going to keep a separate trading platform for every broker they take over. So I would assume the thinkorswim desktop and mobile applications will go away at some point. Also having dealt with Schwab employees and thinkorswim employees there is a clear delineation which caters to serious traders.
I recall SCHW bought Cybertrader and closed out all their technology.
Exactly. I have used thinkorswim since they were created. I was really worried when TDA took them over, but they didn't already have an active trader platform or division. They made it really clear they would keep thinkorswim basically intact, and they did. Schwab is a whole different story. I guess I will have to look again at IB, Tradestation, and whoever else is good with futures options.
Schwab seems to have less customers than TDA, so there is a chance they’d prefer to keep those customers by giving them what they want. I rarely hear about anyone using Schwab platform while I constantly see people using TDA, so Schwab may need ToS.
Or if they kill ToS then they may need to offer a better alternative. This is not a small acquisition. And without difference in commissions people may just stick with better technology.
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I agree, and it's just a matter of time before they dismantle TOS and eliminate any futures or forex trading.
Agreed. I was also with thinkorswim before TDA took them over. Tos survived, and it should continue to survive. Schwab's active trader is ok, but not at the level of tos. Tos is loved by so many; it just seems irrational to retire it.
They bought Cyber and optionsXpress and derivatives were always a "must do" to be complete. The model is now asset gathering, banking all with a focus on fee-based business. TD and all it's variations were the biggest discount brokerage book of options on the street - volume not darts - Schwab was second. Assuming the government allows the merger their ability to negotiate routing deals will be unparalleled. I assume much of this is driven by the end of commissions. The next step could be to acquire a capital markets firm, which Schwab has owned in the past and lost interest when payment became more widespread.
They'll jettison whatever looks to lose profitability under their grand plan and we won't know that for a while. I suspect we'll eventually see more internalization. oX briefly internalized NDX options and it would make perfect sense to internalize the ten most active option names.
They'll jettison whatever looks to lose profitability under their grand plan and we won't know that for a while. I suspect we'll eventually see more internalization. oX briefly internalized NDX options and it would make perfect sense to internalize the ten most active option names.