Just wondering if anyone has noticed anything weird or shady after Investools bought ToS out? I had thought about using ToS a while back (actually quite a while)...but it fell by the wayside, and I was totally unaware until the past couple days that Investools bought them out. This is shocking to say the least. I have heard some really shitty things about Investools.... The very fact that they sell what they do and the tactics they use, etc (the classic vendor bullshit we are all familiar with) makes me very apprehensive about associating with them as a broker. The dilemma is that I was very impressed by ToS in the past and they have a nice platform, etc....commissions a little high, but I'm a swing trader so I really don't care about saving .50-$1.00 on a contract to have a good broker. I'd hate to miss out on a good broker, but at the same time, after hearing about Investools being the new owner... Just wondering if anyone has any feedback. I know of course, I don't have to use them if I have a problem blah blah, etc ad nauseam...I am not ripping on them, I really think they had a good gig going, but I just want to get a few opinions. This ToS/Investools thing is kind of like being a big fan of a solid rock band and then finding out they signed up to go on on MTV or something where everyone is a sell out and commercialized if that makes sense. Thanks for any input.
I just opened with TOS a few weeks ago. So far nothing bad about them. Very helpful and fair. btw...did you know gold and oil are going up? Still laughing about your real estate comment.
Interesting things about TOS..... - tech support par excellent Whenever I mention a small bug or other nuance, it's usually fixed within a few weeks....and they do it quietly. - rock solid Java platform, constantly updated (almost weekly !) Never freezes. problems only if the exchange servers seize-up. - no API yet, but it's being developed - futures commish and margins not great; best to use them for options only unless trading longer term - order entry could be improved, but they support trailing stops and OCO brackets, and it is workable. Don't use it for scalping however. - Charting is good, but has limitations to the number of indicators per chart - management par excellent Always willing to discuss issues/problems/ideas
When the deal went down there was a lot of effort put into passing it off as a merger and not necessarily a "buyout". It's all semantics really but the point was that the TOS owners weren't just selling something and cashing out. IMO, TOS founders got a better deal than Investools in the end and were able to keep control of the trading platform. I haven't seen anything change since the merger and I've been with TOS for a while now. TOS just keeps getting better from where I sit.
LOL holy crap! I gotta buy some options! Thanks for the inside info OldSchool! All this broker scouting left me blindsided to this subtle potential upside in gold and oil. That's why I love ET!