Monday, March 29, 2010

Re: [TheOptionClub.com] I'm Firing Fidelity, Help Me Find A New Broker!

 

Hmm... Excuse my cynicism, if message reply were an indicator of quality of broker then heck count me down as being better than yours. Namely I have Bloomberg. I click on a button and instantly I get a message saying, "how may I help you." I have even gotten help on public holidays and apologies saying, "Even though today is Christmas and we have a programmer on staff may we ask to delay this to next Monday?"

While messaging is good and reaction time is good you pay for it. Don't ask what we pay for Bloomberg. The real problem is how to compare TOS with others.

I say TOS is for the sophisticated investor, whereas somebody like IB is for the smaller amount professional investor (100K to 10million). And Bloomberg is for the professional who is managing millions.

For example, I really don't think IB makes that much sense for somebody who is managing less than 100K. Once you have a 100K with IB you get great margins and much better conditions. The commissions are good at lower amounts nonetheless, but I would say only to those that are a stickler about it.

Christian

--- In OptionClub@yahoogroups.com, Mike Cleveland <mikeandjody1996@...> wrote:
>
> Think or Swim is number 1, number 2, and number 3. I looked around, talked, asked a lot of questions, and in my opinion TOS is the absolute best. Yesterday I had a question regarding trading. My 9 year old twin girls were with me, and I said, "Hey watch, I will email TOS and they will respond within the first 5 minutes." I hit "send" and started the clock. Two and a half minutes later I had a response through email. This is normal. And I only pay 1.25 per option, which isn't the best, but it is good.
>
>
>
>
>
> ________________________________
> From: leobusc <leobusc@...>
> To: OptionClub@yahoogroups.com
> Sent: Thu, March 25, 2010 4:11:34 PM
> Subject: [TheOptionClub.com] I'm Firing Fidelity, Help Me Find A New Broker!
>
>
> I absolutely love Think Or Swim. I just don't like having all of my money with one broker.
>
> Fidelity is grueling for trade options. Their platform stinks,
> their commissions are too high but worst of all they making me jump thru hoops to trade spreads.
>
> Last week their platform wouldn't let me roll a call from March to April without paying two $9.00 commissions. The man at customer service said "I can help you with that, but it is a complicated trade so it will take a while".
>
> Rolling a call from March to April is a complicated trade????
>
> Think or Swim is the best broker, but who is number 2?
>
> I want low commissions, an easy to use trading platform, and some semblance of customer service.
>

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