We have lots (a really lot) of messaging that deals with various brokers and what is allowed/not allowed by them in terms of buying/selling new issues on the Over The Counter (OTC) markets and many other issues.
For instance some brokers allow pretty much any transaction. I personally like eTrade as I have never had a trade rejected by them–while I have an account with Fidelity it restricts my ability to buy Fixed-to-Floating rate issues.
This area is for an exchange of information on all the various brokers–good, bad and otherwise.
Like all the various discussion pages if folks could ‘stay to topic’ the page will be more valuable to all, but staying to point.
If you want to start a new thread go to the bottom of the page and do a comment–instead of a reply.
Well almost setup with a new account for my wife with Fido. Nothing ever goes as smoothly as you would like. TRINL has been stranded with T Rowe because there is a hold due to the partial redemption announced by Trinity Capitol. Also two mutual funds set up, one T Rowe’s ultra short term bond fund and a MM for the Roth that I guess wasn’t on the ACAT request?
For anyone here who has a 401k at work with T Rowe Price
TROW will be losing another investor next week. Most of their ALUM is prisoners of 401k plans as the generation who saved and retires finds out their Mutual fund holdings and ETF’s are not doing as well as the market. I switched out of the 401k into an IRA with them as I was told if we set up a withdrawal plan I had no control over what or when they sold holdings for the monthly withdrawal. They recently announced a new trading platform and I kept saying no until they switched my account anyway. I also have accounts at TDA that were switched over to Schwab. But that switch was nothing compared to the disaster that has happened at T Rowe. I have no access to stock reports after hours now, where before I did. I cannot enter trades before or after market and I can’t change GTC trades already entered, not even a bid price or quantity can be changed.
Both Fidelity and Schwab show daily stock activity after market close and allow you to setup trades.
T Rowe could be a disaster for my holdings if something happens to move the markets over the weekend.
FYI – For anyone that uses Schwab’s StreetSmart Edge (SSE) for real-time quotes for US Treasury yields: I noticed that the real-time quotes for US Treasury yields have not been updated since April 8. The following ticker symbols are involved: 13-week T-Bill (SSE ticker $IRX), 5-yr notes (ticker $FVX), 10-yr notes (ticker $TNX), 30-yr bond (ticker $TYX). I just called the Schwab bond desk and was informed that the SSE technical folks are aware of the issue – and they have no time-frame on when the problem will be resolved. I have used SSE for years for getting the US Treasury yield data because I like the ease of seeing it in chart format. If anyone has alternate ticker symbols for obtaining this data via SSE or via Fidelity Active Trader I would appreciate it. I’m aware that I can obtain this data on the internet, but I prefer to get it via SSE since I’m on that platform a lot.
Red,
I use the Think Or Swim platform and will be Schwabbed in May.
Recently, they have changed the symbols for the treasury yields on that platform.
The 10 year was TNX and is now TNX:CGI
Similar with the 30 year (TYX:CGI), and 5 Year (IRX:CGI)
Might want to try these symbols with SSE.
Greg,
The Schwab bond desk guy first gave me those tickers – with the “:CGI”. When neither of us could get them to work in SSE, he put me on hold for a while, and then came back and told me those only work for Think Or Swim. Then he checked with his SSE technical folks and found out that it’s an issue they have been working on. I’m not looking forward to Think Or Swim. When ScotTrade closed I was switched to TD (early 2018 I think). I left TD after about one month of Think Or Swim. I did not care for it back then. I hope they improved it since then. I’m due to be switched fairly soon – ugh! Thanks for your reply.
Owl,
Even if you didn’t like TOS back then, you should be able to use it now to get the quotes you need. You can have both SSE and TOS. You may have to open a new account (even if for only $1) because each account can be either SSE or TOS. I have a $16 TOS account I have been meaning to play with to learn TOS.
It took me two calls to TDA to get this problem resolved at least for TNX and TYX….. First time I got the usual, “Thanks for reporting to us… We’ll report it to the proper people and will get it resolved,” get me off the phone BS… 5 days later I called again and this time got someone who knew something – Symbols have been changed at least on the TOS platform, to TNX:CGI and TYX:CGI. Ooops!! I see where Greg beat me to it on this answer……
I’ve primarily been a Street Smart Edge (Schwab) user. I mostly utilize the watchlist feature with live streaming quotes. For anyone who hasn’t heard, Schwab is going to be retiring Street Smart Edge soon and moving to Think or Swim. I’ve been thoroughly disappointed with the Think or Swim product so far.
On Think or Swim, the time and sales data only goes back around 5 minutes. A lot of information for preferred stocks isn’t populating correctly (yields, some ex-dates, etc.). Street Smart has a “flash” when a price changed and Think or Swim does not.
I tried to use Fidelity’s but I notice some issues with that too (watchlists can only have 50 symbols, etc.).
Does anyone have a watchlist solution that they like for preferreds? I’d like live streaming quotes, time and sales data for at least the last trading day as well as the ability to correctly populate basic information for preferred stocks. I’m willing to open up a new brokerage account if necessary.
Thanks in advance!
I miss tdAmeritrades watchlist. That was my go to site until schwab ruined it. Now I hang out at Fidelity their watchlists are better than schwab’s. I have several lists separated by category and jump between them. Only problem is their customized watchlist displays poorly so I use the one with their default columns. And I use the two computer technique logged in to more than one site at a time.
I’m not sure I’m understanding correctly what you’re saying about TOS only going back 5 minutes on time and sales data, Dick. Have you played with the settings under the wheel icon on the top row where you can enter quotes? That gives you all kinds of options to view time and sales data in different ways….. What I’ve not been able to find on TOS that I do see on Fido’s Active Trader Pro, is an ability to view individual sales when, for example, a block trades all at once at different prices.. for example if XYZ has 5 trades within a minute’s time at prices from 51 and 49, at Fido I can see how many shares traded at each price so you can get a better feel for which of the prices at the extremes is the outlier… I do like that feature on Active Trader.
In case anyone else is doing their taxes, check your 1099’s for the right qualified status.
See this comment over in reader initiated alerts
https://innovativeincomeinvestor.com/reader-initiated-alerts/comment-page-14/#comment-112546
A few thoughts on this:
You will likely get better results if you complain about the 1099 statement when it comes than complaining when it originally pays.
Secondly, not all broker’s fix everyone, so you may see that the account you complained about gets fixed, but another account with the same security does not. (whether you tell them all accounts, or just say, “this is held by close to a dozen of my family members, so if you just fix mine, expect 10 more phone calls about it)
Hi Zwei,
Once logged in ME, scroll all the way to the bottom and find in blue text and click on:
Deposit Account & Money Fund Rates (PDF)
The PDF that opens (in a new browser tab) conveys all your MM options with their respective 7-day yield. They are non-sweep funds.
“Preferred Deposit” is at 4.92% today. It may require an initial $100K investment. It is FDIC-insured. Minimum subsequent deposit is $1K.
The other one I use is TFDXX (5.20%).
You have to do your own sweeps (transfers).
MM transactions can be entered until 5 PM (same as bond market) and settle that “same” day. The system will not allow one to enter MM transactions prior to market open nor after 5 PM.
Thanks GnG. I am assuming 5pm eastern time.
I have an account at Merrill Edge. I need to move some cash to a money market fund since their sweep pays nothing. Which funds do Merrill allow you to cash out of without restrictions and fees? How long does it take for the withdrawal to clear for trading?
I have a small account at Merrill Edge. Their cash account pays nothing, so its better to move to a MM fund within the account, and move funds to/from cash as and when needed.
I use FISXX, which pays a reasonable interest. The timing has to be monitored to avoid margin interest being charged if one is late in moving funds.
Thanks Inspbudget. I’ll give it a try.
I use sgov, and sell before I place an order, so they both settle on the same day.