Fidelity's 0 Commission Platform, what are the cons?
- Thread starter bob2007
- Start date
Third party (unverified) information: I read a lot of people complaining on Stocktwits that they couldn't buy OTC stocks. LK was recently delisted from NASDAQ, and investors wanted to capitalize on the precipitous drop in price. Fidelity customers missed out.
If you don't consider OTC stocks, then disregard.
If you don't consider OTC stocks, then disregard.
October 2019:
https://www.spglobal.com/marketintelligence/en/news-insights/trending/IiJL9zOpAk76f_BrDunluA2
"Fidelity, which is the sole major U.S. online broker that does not accept payment for equity order flow, explained that it provides "retail investors with access to better prices" by internalizing their stock orders."
June 2020:
Fidelity follows in footsteps of other brokerages and sells (some) order flow:
https://alphacution.com/from-citadel-securities-to-tastyworks-the-new-economics-of-liquidity-part-1/
I used to trade on IB tws for years and it's the best platform, period.
I'm now using fidelity the last couple of years, doing lots of trades on ATP workstation and highly recommend it. They have hands-down the BEST customer service, I've called dozens of times and their team is worldclass.
Cons: not nearly as many features as tws, more basic, not as compact. Works fine, instant fills, I daytrade OTO orders on it frequently. Definitely fine for daytrading stocks, plus 0 commissions are saving me thousands of $
I'm now using fidelity the last couple of years, doing lots of trades on ATP workstation and highly recommend it. They have hands-down the BEST customer service, I've called dozens of times and their team is worldclass.
Cons: not nearly as many features as tws, more basic, not as compact. Works fine, instant fills, I daytrade OTO orders on it frequently. Definitely fine for daytrading stocks, plus 0 commissions are saving me thousands of $
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https://www.spglobal.com/marketinte... the sole,by internalizing their stock orders.October 2019:
https://www.spglobal.com/marketintelligence/en/news-insights/trending/IiJL9zOpAk76f_BrDunluA2
"Fidelity, which is the sole major U.S. online broker that does not accept payment for equity order flow, explained that it provides "retail investors with access to better prices" by internalizing their stock orders."
June 2020:
Fidelity follows in footsteps of other brokerages and sells (some) order flow:
https://alphacution.com/from-citadel-securities-to-tastyworks-the-new-economics-of-liquidity-part-1/
Agree on the customer service, it's very good.
Something else with Fido - if qualified, you can use WealthLab Pro along with ATP.
Something else with Fido - if qualified, you can use WealthLab Pro along with ATP.
Street smart platform is much nicer than fidelitys imho and their customer service is also great .I think your crazy using IB and paying commissions now. Now i'll say for Mobile app and futures IB is awesome. Schwabs mobile app terrible
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Well, scratch that. Fido is dropping WLP as of end of July.