Question about slippage and Fidelity

Discussion in 'Retail Brokers' started by GetBusyLiving, Nov 20, 2009.

  1. I currently use Fidelity to day trade .05 to .10 cent scalps. I have never used another brokerage so I don't know if Fidelity is any good or not. But typically, I'll execute an order and it will get filled within 4 seconds and its within .02 of the price I wanted (Usually just .01 within)

    Is this good?

    What is the best brokerage out there that executes the trades the fastest for a retail investor?

  2. I deal with Fidelity too. They're expensive at $19.95 per trade. I also deal with Scottrade ($7), TD Ameritrade ($9.99), and Charles Schwab ($12.95). They're all fine with regard to the speed of execution.
  3. paj


    To be fair, if you're day trading with Fidelity, you'll be in the $8.00 commission category, or at least the 10.95 one.
  4. I am in the $8 category. Was just wondering if fidelity was decent. I hear good things about lightspeed.
  5. paj


    My biggest annoyance with Fidelity is that the cost basis in ATP only updates once a day. Other than that, I think they're great.

    I tend to use Fidelity for my longer term swing trades and IB for day trading.