Is Charles Schwab day trading friendly?

OK, I have gotten calls from clients of many online brokers where the client was asked to leave or pay ticket charges. That is not new but the 390 is. They can't make money on your order flow without PFOF and the brokers they send their orders to do not want that flow.


freeman311122 said:
He was referring to stocks, it has nothing to do with that 390 options rule.

Guys, my question is not about TD Ameritrade, focus, focus, :) Thanks a lot!
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freeman311122 said:
Stocks, thanks!
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Then the only thing you have to worry about is if you have $25,000 or more in your account. PDT rules restrict you to 3 trades with stocks on a margin account.

Robert Morse answered your question about it, which you directly quoted here...

"...This has nothing to do with equity trading..."
 
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Traditionally Schwab has been more concerned with capitalization - not frequency. I worked at oX which was bought by Schwab and we had accounts trading well over any threshold, but very well-capitalized. Can't imagine how they did it without an api. The frequency stunned me. This was before free trading and two of the contra firms offered to commit dedicated MMs to the account.
 
ajacobson said:
Traditionally Schwab has been more concerned with capitalization - not frequency. I worked at oX which was bought by Schwab and we had accounts trading well over any threshold, but very well-capitalized. Can't imagine how they did it without an api. The frequency stunned me. This was before free trading and two of the contra firms offered to commit dedicated MMs to the account.
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Thank you so much! This is really helpful! May I ask what “Capitalized” or “Capitalization” means in your post?
 
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freeman311122 said:
Any particular reason why you don’t want use Reddit as a source!
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Because, Internet. Dude, why don't you call TD Ameritrade on the TELEPHONE tomorrow and ask a human being there about this issue? Surely they can allay your concerns, give you the skinny. They would be more authentic than out-of-context posts by users on Reddit.
 
Overnight said:
Because, Internet. Dude, why don't you call TD Ameritrade on the TELEPHONE tomorrow and ask a human being there about this issue? Surely they can allay your concerns, give you the skinny. They would be more authentic than out-of-context posts by users on Reddit.
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That 390 orders at TD Ameritrade is not my concern, my question is about Charles Schwab. Thank you very much! :)
 
freeman311122 said:
That 390 orders at TD Ameritrade is not my concern, my question is about Charles Schwab. Thank you very much! :)
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Then why don't you call Charles Schwab on the TELEPHONE tomorrow and ask a human being there about this issue? Surely they can allay your concerns, give you the skinny. They would be more authentic than out-of-context posts by users on Reddit.
 
Robert Morse said:
OK, I have gotten calls from clients of many online brokers where the client was asked to leave or pay ticket charges. That is not new but the 390 is. They can't make money on your order flow without PFOF and the brokers they send their orders to do not want that flow.
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I think you are right, but that is not what I asked about.:), my concern is about Charles Schwab, thank you very much!
 
Overnight said:
Then why don't you call Charles Schwab on the TELEPHONE tomorrow and ask a human being there about this issue? Surely they can allay your concerns, give you the skinny. They would be more authentic than out-of-context posts by users on Reddit.
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I did, they would not tell, that is why I want other people’s experience.
 
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