Trading platform options poll
Some investors are planning to move away from Robinhood. This is a poll for possible options. I have listed the most common options. Pls feel free to add more options in the comments if I have missed. Also, it will help fellow investors if you have any particular pros / cons with a particular platform. Crypto is not included. Coinbase / GDAX is pretty much the go-to platform for that.
Centerpoint securities if you are an active trader.
Lookup SEC Rule 606 if you want to compare how different brokers route your orders. For example, "robinhood/fidelity sec rule 606"
I just started using Fidelity and to be honest their app is decent. Robinhood has the best UI but Fidelity is decent as well.
Wish others would make their UIs better. This opportunity is a godsend for other platforms.
Why does it matter? Why do you trade?
I invest to maximise ROI, and I want to use good interfaces while at it. An Apple employee might’ve understood it better.
I'm too used to checking my portfolio on my phone all the time. I need fingerprint unlock, instantly loading to a big number and overall graph with red and green numbers so I can be in and out of there in seconds
I was happy with Ameritrade because they have great after hours stock trading. They have 4 1/2 hours per market and 4 hours after market. But they had some shady restrictions in place with Thursday’s events. EDIT: How is after hours, day trading, and options support on your platforms?
Can you put in scheduled orders for the extended hours in Ameritrade? I have used E*TRADE for extended hours trading but only for the same day. Means I have to wake up early at inhuman hours to put in pre market trades.
Anyone like iterative brokers? I use td Ameritrade but their margin interest is so expensive so have been looking to transfer to interactive brokers.
I was going through IKBR. The margin rates for the free trading account is way lower than most of the other platforms.But the question arises how can they afford? Maybe slower execution or there is some other tradeoff.
I’d add tastyworks to the mix. They have a great commission structure for those with larger accounts.