Fidelity has had MAJOR issues this week supporting Active Trader Pro apart from the NYSE issues Bonn Tuesday. Interruption of streaming data for charts, ecn quotes, frozen screens, etc... Problem is very few people there will acknowledge it but those who do say it is as bad as they've ever seen. I have been with Fidelity a long time but the problems of this week cause me to lack trust in using their platform for active daytrading. Others have suggested to me that for speed of execution and reliability, TerraNova RealTick and IB are the best. Anyone have any thoughts on this matter? Either with the Fidelity fiasco or with the other broker's mentioned?
i don't know, for me, they've been so reliable for so long i'm reluctant to bail but this week was pure crap! quotes were good, executions were ok, charts, WFT, where are they?
Most brokers had problems this week so I'd give your broker another chance. Mine (hold brothers) was a nightmare.
I am in the same boat. Been using Active Trader Pro but am fed up. They have poor execution and their commisions aren't that cheap?!! Where's the value? You lose more on slippegage in 2 trades to pay for a years worth of extra comminsion with a more reliable broker. The only reason I still use them is because I can access them through my proxy at work. If not for that I would be at Cybertrader by now.
Yeah, if you trade more than 1,000 shares at a time the commissions kill whatever profit you thought you had. I think the delays this last week were everywhere, not just Fidelity. I was watching the trades go thru for 4 or 5 min after I entered a QID buy order and mine never went thru even though it was a market order. I cancelled and reentered a smaller qty, and then after sitting there another 5 min they moved the price up almost $1 and THEN executed my order.
The only reason I am considering Fidelity is to get Wealth-Lab Pro...feature... Should I switch just because of Welath-Lab? I can't seem to find a viable alternative to Wealth-Lab pro?
Fidelity has the best phone support I've encountered from any OLB... WLP is kinda PITA to figure out if you don't know programming and how to write scripts. If you're going to trade more then 120 trades/yr you can just ask them for "Gold" commission level and ATP access both of which you'd get immediately. (The guy who said 1000+ share trades eat profits must only trade under 1$ stocks... which I use AMTD for myself.) One nice thing about Fido is that buy-to-close option orders priced at less then .65 cents the commission is only 8$ regardless of contract size. Every options trade also has a max commission of 5% so if you're buying to open 20@ .15 you'd only pay 15$ I'm an "expert" about Fidelty, so if anyone has any questions about them feel free to PM me.