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Re: Stock and ETF brokerage costs plunge

Posted: Wed Jan 08, 2020 9:21 am
by ochotona
"IBKR Lite was designed to meet the needs of investors who are seeking a simple, cost-free way to trade US exchange-listed stocks and ETFs and do not wish to consider our efforts to obtain greater price improvement through our IB SmartRoutingSM system."

IBKR Lite does sell order flow... not sure how that's better than Schwab.

Re: Stock and ETF brokerage costs plunge

Posted: Wed Jan 08, 2020 11:45 am
by pugchief
Pretty sure Fidelity does not sell order flow. And they are 'free'. More money to be made on low interest on idle cash, and even there, Fidelity excels. Not as well as Vanguard, but way better than the rest.

Re: Stock and ETF brokerage costs plunge

Posted: Wed Jan 08, 2020 12:47 pm
by ochotona
Schwab and cash.... Grrrrrrr

Re: Stock and ETF brokerage costs plunge

Posted: Wed Jan 08, 2020 1:01 pm
by pugchief
ochotona wrote:
Wed Jan 08, 2020 12:47 pm
Schwab and cash.... Grrrrrrr
That was the main reason I left Schwab. I started with a 'high-yield' interest checking account that paid very competitive interest. The brokerage account was linked but not used. I liked the checking so much, I started giving them my investments. But then the checking stopped paying competitive rates, and the brokerage was the same as all the others. Only Fido and Vg pay decent interest on cash, but Vg is clunky and difficult to deal with.

Re: Stock and ETF brokerage costs plunge

Posted: Sat Jan 11, 2020 6:31 pm
by ochotona
Accounts landed very quickly at Fidelity. Trying really hard to find where things are and get used to it. I think it'll be fine. I am going to not take any calls which say SCHWAB on my Caller ID. Don't need the harassment.

Re: Stock and ETF brokerage costs plunge

Posted: Sat Jan 11, 2020 8:18 pm
by pugchief
ochotona wrote:
Sat Jan 11, 2020 6:31 pm
Accounts landed very quickly at Fidelity. Trying really hard to find where things are and get used to it. I think it'll be fine. I am going to not take any calls which say SCHWAB on my Caller ID. Don't need the harassment.
I wouldn't worry. When I moved most of my money out, I never heard from them. I think if they were going to contact you, it would have been when they received the transfer request, before they sent the funds. I'm sure they get hundreds of transfer out requests every day.

Re: Stock and ETF brokerage costs plunge

Posted: Thu Jan 16, 2020 5:57 pm
by ochotona
Voicemail from Schwab today. I deleted it without listening to it and blocked the number.

Re: Stock and ETF brokerage costs plunge

Posted: Fri Jan 17, 2020 6:46 am
by ochotona
"$0 commissions. That's right – you can trade commission-free with Ally Invest Self-Directed Trading." - not Sophie's Choice