thinkorswim acquired by ameritrade.

I sent an e-mail to ToS expressing my displeasure, stating in particular that an increase in commissions would send me to another broker.

Tom Sosnoff replied within 5 minutes, saying that commissions will not change.

I am weary of AMTD; however, I will trust him until I see differently.

 

so what's their new name gonna be, tdameritradeswim?

fvck this is bad news. i read their merger faq and there's nothing positive there. while there's a good chance they'd keep the tos software, there's a very high chance that commissions will go up and customer service will go down. there's also the issue of portfolio margin, which ameritrade does not have.

ib is probably very happy about this. i can see 1/2 of tos customers going there.

 

TOS is a technology company run by traders who did not answer to suits.

TD Ameritrade is a subsidiary of a bank. The point is that customer service and technology is top notch at TOS because if things aren't going right the founders will be directly affected and p***** off. It gets fixed fast because they use the product all day long!

Now it's a small part of a goliath. I can only believe it was necessary, maybe the business model was not working as a stand alone company

 

a TOS support person said that TD Ameritrade would for certain keep futures trading available. (contrary to what I posted earlier)

 

It gets worse Gentlemen. Not only did they gobble up TOS, they are apparently going to gobble up the Cubs too - or the family behind Ameritrade that is.

http://www.marketwatch.com/news/sto...x?guid={760CAFF1-7629-4133-9793-44729389EBA0}

 

I'm having a mixed emotions day. I hate the takeover as a TOS customer, but at the same time I'm up 50% on the day as a shareholder.

 

haha, buying the cubs is definitely a bad trade

 

In my experience two of the fastest moving things are the ES and CL futures when something big happens. Does TD trade ES? Does TD trade oil? Does TD trade any futures or futures options? The answer is no to all those questions. The question is moot until they show what they can do with futures. I certainly hope TD decides to keep all the products TOS currently offers, but there is no official answer on this yet.

 

Take profits now and book them with another broker.

 

Who cares anymore about TOS' CEO or TOS representatives?? Six months from now they won't have a say. It will be whatever AMTD management decides to do.