Broker and Brokerage Information Exchange

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.

593 thoughts on “Broker and Brokerage Information Exchange”

  1. I opened an International Broker account this past month so I can trade bonds more easily. That seems to be working out since it saves me having to call in to bond desks.

    But today I noticed they had not released the funds from ET-E being called like my Fidelity account has. I want to redeploy that cash but they are tardy in freeing it back up so that is a demerit for them. Their site is also kludgy and non-intuitive so those are some downsides for anyone thinking of using them.

  2. Have people had good success with the Fidelity bond desk? I had messed with the interface on my wife’s account and it looked like everything could be done online for a multitude of cusips I tried and then I went to actually execute the last step yesterday and transactions can only be done if the security is already in the inventory of Fidelity.

    Today I’ve tried calling in and gotten stuck in a hold loop with this line: 800-626-4600. Does anyone else have a better number?

    Any good experiences with them?

    1. YH, what you found is true. They can show you real time quotes but you have to use their bond screener to see what they have in inventory if you want to buy without having to call in. A year ago I had no problem calling in and buying 10 to 20 lots of bonds not available on the platform and paying the 50.00 charge, but lately others here have commented things have changed and one person said he was told he needed to make a 250 lot purchase minimum. I have had my eye on a few lately, but haven’t pulled the trigger to find out what experience I will have.

  3. TDA to Schwab switch today. A Bond and a CD (both maturing tomorrow) disappeared from my positions. Oh goody.
    Anyone with Schwab here that can vouch that happens to maturing holdings?

    4 accounts moved, 2 look good, just those 2 issues to resolve.

      1. Grid, no its off by the redemption value of those items. Those 2 securities never made it over from TDA. TDA has shutdown any access to my previous account so unknown whether or not they are waiting for maturity before they send it over. Support was responsive and confirmed its nowhere to be found. They opened up a case on it. We’ll see what happens. Hard to believe at this point it will just appear out of thin air tomorrow morning.

  4. My TDA margin account moved to Schwab today without a hitch. However, the drawings I’ve done on ToS charts didn’t. I talked to a Schwab rep who asked me to authorize the transfer of a file from a TDA server to Schwab. He said I would have the drawings in a day or two. I lost all but my main ToS workspace, which I expected.

    1. I have not called them yet but in some (not all) accounts that transferred over to Schwab, all the lots of all the stocks in the account have a wrong “open date.” All of them show 05/10/2024 (last Friday) as the open (purchase/acquisition) date. Does anyone have the same issue and have you called Schwab?
      The accounts with the wrong open dates are all non-taxable accounts so it should not matter.

      1. GnG where do you see “Open Date” in Schwab. I don’t have that info and when I went into settings to check the possible column, it wasn’t listed. Thanks

    2. It’s good that it worked well for you. Most positions lost their cost basis for me.

      I had Schwab already and bought some MTDJL on 5/8 for avg of 25.02 over 2 orders with no commission or fees. It was odd as though it was half in there system of something as bid/ask weren’t showing.

      On 5/10, the orders were adjusted for two commissions of 31.95. I’ve spent most of the day trying to get them to fix it. I think I’ve been getting Schwabbbbbed the past few days as 2WR coined.

      1. So far all I’ve checked is the usability of ThinkOrSwim…. Despite promises that all settings being transferred from TDA would be identical on Schwab TOS, it’s not the same – lots of customization I had done has disappeared…. I’m being told it’s being reported and will be identical to what it was by 8pm……….. Uhhuh…. we’ll see.. Taking one step at a time thanks for the heads up on other things to check. It’s amazing how dependent on one of these things you get to give yourself a decent feel for the markets you follow.

        1. Congrats to all who have had no problems with the move to Schwab…. I’m not in the same boat… Promises that ThinkOrSwim will transfer identically have yet to be fulfilled… Spent another hour this morning with support resulting solely in more promises. One attempt to resolve by Support did produce some progress, but still not right…… I had TOS set up where I felt I had enough indicators showing to know what the overall market was doing at any time, including market indices, commodities, futures, treasuries, etc. That’s all gone – I might as well keep CNBC or BloombergTV on

          1. Lol, 2WR, sucks to be a techie boy! Now if you were a luddite like me, your frustrations would be zero. They transferred all my preferred lists seamlessly. The other stuff you mentioned? I have always just opened up my CNBC app on Ipad to check that stuff. They have it organized for me to easily access.

          2. WR maybe they are telling you that you don’t need all that information, it can be overwhelming. The Chinese have announced they are going to quit updating their markets real time on foreign investments to remove a source of negative data.
            https://archive.ph/mie0T

          3. 2WR –
            for what its worth, a thought about a different way to skin the cat. :

            when I first moved to schwab, the customer support folks linked me up with an “expert” in streetsmart edge who did a one-on-one session with me (90 min?) to help me get it configured the way I wanted it. End result was great – got my exactly the configuration I wanted.

            I wonder whether they could do something similar for you with ToS (rather than fighting to get things transferred, just build a new configuration that does what you want). That way you are getting help from customer support people who are used to actually helping rather than fighting with their tech guys (who aren’t).

  5. Getting Schwabbed –

    I’m not off to a good start with the TDA/Schwab transition that’s happening to me this weekend. I can’t connect to ThinkOrSwim either via TDA or Schwab credentials……. anyone else having the same problem?

    They’re now telling me that TOS is down today due for “maintenance.” What a coincidence… First day and it’s down.

    1. 2WR,
      Was under impression ToS not available until Sunday 12 May. Not relevant to me as I don’t use it, but reading back the email I got from them.

      1. Yes, like after 5 pm, if I remember correctly. Im assuming I will have to repopulate my issues I track on Schwabs ToS. Im not really bothered by that as it will get rid of all clutter issues I thought about but never bought, nor ever will.

        1. Gridbird I thought I read where your watchlists created in AMTD ToS would migrate over to Schwab ToS, we shall see. I can confirm tho that the Schwab ToS will still work with any excel spreadsheets you have set up to dynamically update data from ToS so that’s a lifesaver!

          1. I cant totally remember. I know in the waning days of TD they were trying to get me to go into Schwabs ToS instead of TDs version. I would override and go to TD. My Schwab one at the time was empty. I would rather just have a clean slate anyways. I would always add one here or there and never buy. Then later ponder why I even have them cluttering up what I really track anyways. A fresh start would declutter the clutter and maybe get me more organized.

          2. Eben-
            I would like to know how to dynamically update Excel data from ToS. Do you have a link? TIA

  6. I was wondering if anyone is interested in figuring out which broker, overall, is the best for buying preferred, baby bonds, treasuries, and bonds.

    Not options, mutual funds, or CDs. I do not want to get too broad. I want to add treasuries and bonds to the discussion because I feel quite a few of us do not dabble in them as much as others here and we might need some advice in that aspect.

    Perhaps we can simply state what we CANNOT do easily or cheaply which allows us to whittle down the list quickly. Perhaps we can narrow things down to 1-2 brokers which give the best abilities for the price. Frankly I find it confusing which one is better overall. Just look at how everyone is scrambling to buy the two new preferred that came out. SCExx and MTBxx.

    I currently use Ally. I converted to it because Ally bought out Tradeking years ago. The fees are pretty much 0. I cannot recall getting hit by a fee in ages. Not a single complaint there in how I use it 99.9% of the time.

    I have a hard time buying new preferred in many cases. It is very hit or miss and I find myself often paying several cents more then others here. I was able to buy the new MTBxx preferred but failed to buy the new SCExx preferred this week.

    Baby bonds are a bit easier since they trade on a major exchange right away. I can easily call in and make a purchase if the ticker symbol is invalid in the interface. No problems with that aspect except the call itself. No fee for the call.

    I cannot buy any security that was moved to the expert or grey market. Not a single one. I have read some brokers allow some specific purchases and deny other names?

    Can anyone comment what broker they use and your experiences with my above complaints that the broker does MUCH BETTER?

    If I do not get any feedback I am simply going to have to go through the comments of new issues and start taking better notes to figure it out.

    1. I like Fidelity. Mostly because they pay interest on sweeps account and the other do not unless you manually move the money in and out of funds. They do not charge fees as often though you need to watch for their $50 foreign transaction fee. And they let you buy a few of the delisted issues.

    2. Execution- Fidelity and Schwab have fantastic execution. I get poor execution w IBKR, but I use the free/lite version, not sure if that matters

      Access to grey market, like the recent m&t name. It varies, maybe fidelity has a slight advantage.

      Access to some legacy oddball pref securities – this is easy. IBKR wins hands down. For instance , I can’t buy GJH on fidelity without calling a rep.

      Access to fixed income- IBKR is by far the best.

        1. re: sign-up bonus, one may want to check what Merrill Edge offers. It is typically $600. for $200K At times, they will provide a bonus as well for adding new funds.
          Each broker has respective advantages and drawbacks.
          ME will tend to hold your new funds for a few days though it shows up as withdrawn at the transmit end. One has to call and insist they release immediately.

          1. I am still in the process of moving over from T Rowe and it’s not complete. They are using ACAT
            One small screw up so far I hadn’t considered. I didn’t check for when the interest and dividends hit the account for the month of May. Two holdings in the Roth didn’t move until after x-dividend date. All that is still left in the Roth is the MMF. When the dividends for one of the stocks that had been moved hit they didn’t put them in the MMF. They left them sit there, then when the money was transferred to FIDO the $350.00 was put into the regular IRA not a biggie but I am trying to grow the Roth.
            They did pay my wife’s monthly withdrawal out of the IRA which I wasn’t expecting and she was worried about. The partial call of TRINL happens Friday the 17th. It’s slow torture waiting for that to settle and I think that will allow the transfer to finish, but realizing they paid the monthly withdrawal that might be part of the problem with the hold up. I need to check next week about turning off.
            I wish I had taken their offer a year ago to transfer over. They offered $2,000.00 but now it’s only a $1,000.00 This is paid 60 days after the transfer.

      1. >> I get poor execution w IBKR, but I use the free/lite version, not sure if that matters

        Yes, it does matter.

        IBKR Pro utilizes SmartRouting which searches for the best available price across exchanges and dark pools. It will re-routes all or part of your order as well.

        IBKR Lite routes orders to market makers in exchange for payment for order flow. Therefore, fills may be less frequent and inferior.

    3. fc, if one is interested in buying Treasuries in the secondary, Schwab tends to offer the best pricing, especially at a reasonable quantity.
      Again, each broker has respective advantages and drawbacks.
      Schwab at times will post the funds of a note/bill or CD after hours at maturity and one may lose out on one extra day of being able to transfer the funds to a MM that pays higher interest.

    4. T2
      FC asked: “I was wondering if anyone is interested in figuring out which broker, overall, is the best for buying preferred, baby bonds, treasuries, and bonds.”

      FC, unfortunately polygamy is the answer. Like spouses in the real world (present company excluded), the perfect, one size fits all brokerage for bonds does NOT exist IMO. Three of the ones already mentioned have quirks, here are a few of them.

      1. Fidelity generally does not offer lower rated/junk corporates and/or munis. Another example can’t buy money good A1/AA rated, AGMC insured, Puerto Rico muni bonds because they are black listed. Does not allow standing, GTC orders, only “Fill or Kill” or “Day” so you have to reenter orders every day.

      2. IBKR- You never know in advance what commission you will pay and/or minimum fill size you will get. You can have a corporate bond buy order for >=$25k face and get filled with 1 bond and pay up to $8 or 0.8 points for that bond. You cannot set a minimum fill size. Will not let you buy any corporates that have less than $50 million outstanding. This eliminates ~ 10% to 20% of the market.

      Will not let you buy many callable, called and/or sinkable munis for various reasons. Eliminates ~ 5% to 10% of the market.

      You can have standing GTC buy/sell orders but their system incorrectly, automatically cancels ~ 99% of orders for issues maturing in ~ <=45 days, plus a lower percentage of other ones with further out maturities.

      Back office is subpar getting your payments, both interest and principal properly paid on time.

      3. Schwab generally does not allow “bid backs” where you can offer less than their ask price, unlike Fidelity and IBKR. So take it or leave it pricing. Generally does not offer below investment grade corporates or munis. Good news is they build the commission into their ask/offer price so you know exactly how much you are going to pay in advance. Also

      There are other quirks not mentioned for these three and highly likely that other brokerages also have a few.

      1. Related to the broker discussion…

        Fidelity offers direct access to its fixed income group, the group that will actually execute trades for bonds not in inventory. But I was told a min of $2.5m account value is required.

        Does anyone have access to this group and any notable improvements vs the regular fidelity fixed income team?

      2. Thanks, Tex – A good summary and I appreciate it. However, what you describe as good news about Schwab, which I will assume is the same as was with TDA, I consider bad news…… That they build the commission in to their ask/offer tells you they are acting as principal, not agent…. So where Fido will charge $1 a bond , period, you never know if Schwab is tagging you for $1 or $5 or what. Couple that with the take it or leave it approach to their price and you’re guaranteed to be always paying the full offered side on a buy and getting only the bid side on a sell, and you’ll never know exactly what you’re being charged if you deal with them only….. There are ways to figure it out if you deal with more than 1 broker, but odds are it ain’t no way it’ll come in lower than Fido’s $1/bond…. Also, Fido’s maximum charge for a bond trade is limited isn’t it? I don’t normally buy amounts to allow me to take advantage of that, but I know it used to be $50…… Is that still the case? Buy 100 1k bonds and you still pay $50.

          1. I do like to use links in posts to music lyrics that come to mind when I think they can say what I’m thinking better than I can. But when the noun of the day for me continues to be “poignancy,” I figure there’s not many ways to tie poignant lyrics to the III investment world. But with that warning, if you’d like a coupla links to songs you may not have heard before, try these.

            For III purists, my apologies – skip this.

            https://www.youtube.com/watch?v=9s4GotuLHao&ab_channel=AndersonEast It takes some kind of performer to pull off a performance like this totally solo and captivate an audience at the country music Mecca, the Ryman Auditorium in Nashville You could hear a pin drop if it did in his captivated audience during this performance.

            https://www.youtube.com/watch?v=azozp85S94A&ab_channel=DaveVanRonk-Topic – from an old 60’s folkie…

            1. 2WR now 1WR, I am sure you are missing the Mrs. this Mothers day as are your kids. Music is a great help and where I always turn, thanx for sharing take care.
              Guess I am a lucky one, mom is 90 and doing ok. The Sweetest Gift, a mother’s smile! https://www.youtube.com/watch?v=wWEQDyrbphE

              Tim will have to start a music tab!! lol. best to all. Bea

        1. 2WR, I guess one person’s good news is another ones bad news! To me the fact that you know exactly what you are going to pay is a benefit both to Schwab and Fido, and to the disadvantage of IBKR. In a sample size of thousands, the end price of Fido and Schwab is identical for 10 or more pieces. So it appears Schwab’s standard adder is $ 1 or .1 point per pond. I do not recall ever seeing a case where it was more than that, but my sample size is not 100% of every bond they have offered.

          Fido’s max commission of $50 only applies to maturities of 1 year or less. For greater than 1 year, the max is $250, which is $1 or .1point for a 250 piece buy. So to get lower, you have to be buying more than $250k face.

          There is an underlying factor here that is not talked about. Instead of saying it applies to all brokerages, I will limit it to these three for CD’s, corporates and munis, but NOT UST’s. . They mostly use the exact same bond trading exchanges instead of offering from their own inventory. Tradeweb/Bonddesk, UBSBond, Municenter, etc are some of the large bond exchanges for retail offerings. So a listing dealer of which there are thousands puts it up on Bonddesk and you see the exact same offering at Fido, Schwab and IBKR and can immediately separate out what Schwab’s markup is. And you know exactly what Fido’s markup will be, leaving only IBKR as an unknown. This probably applies to most retail US brokerages but cannot say with 100% certainty. Of course, most institutional >$250k trades are done over a Bloomberg terminal.

        2. Schwab has been pretty good with US treasuries so maybe it’s a lead broker for that. Fidelity seems like it might be good for some preferreds, to offer less than the ask. TD & Schwab trade desks have been take or leave it when they contact their “3rd party broker” as they have said.

  7. Affinity4Investing posted this over on siliconinvestor:

    A look at Schwab’s TD migration, 8 months in

    https://www.investmentnews.com/rias/news/a-look-at-schwabs-td-migration-8-months-in-252941

    i am not a money manager/financial advisor/etc. for anyone else, but it is interesting to see how schwab’s migration for advisors ($1.3 trillion) has gone (badly, apparently).

    Maybe it explains a bit of why their service has been less than stellar for the rest of us.

    1. The article says the attrition rate was only 4-5%, so why do you say it has gone badly?

      As an RIA customer, I greatly preferred Schwab as a custodian compared to TDAI. The reason is that TDAI required even the simplest customer requests to be submitted via the RIA, causing delays and errors (and the RIA always blamed TDAI for the issues). With Schwab as custodian, I still had access to Schwab’s customer service, which was generally OK.

      Another TDAI issue was that if you moved an account between RIA and self directed status (in either direction), you had to get a new account number (a slow process) and use a different website. With Schwab it’s just a status bit on the account, so when I signed up with, and then ultimately dumped the RIA, it was fast and easy in both directions.

      P.S. An obvious disadvantage of an RIA only custodian like Altruist, no matter how great they are for the RIA, is that if you want to move assets between self directed and RIA accounts, you have to do an ACATS transfer.

  8. Anybody thinking about what’s going to happen with Schwab MMFs after T+1 settlement goes into effect on May 28?

    Right now it works reasonably well with a margin account to make a buy using the buying power from the MMF and then sell the MMF next day, so that the trades both settle on same day (and the converse for sales). I’m not sure how many people actually know how this works (thanks to Private for pointing this out here), but it does make Schwab somewhat competitive with Fido/Vanguard for cash management for traders

    But when stocks go to T+1, this will no longer be possible and this would put Schwab at a big disadvantage. I guess one way Schwab could ameliorate this would be to allow same day settlement for MMFs up to a certain time (Merrill has this). I think Schwab has also vaguely alluded to improving their sweep account options (currently yielding 0.48%).

    1. I think schwab may be doing (some?) same day settlements on MMFs already. I noticed that some MM trades I did recently were showing up as transacted in the evening of the day I entered them during market hours (at least in my account balances online – not checking “behind the scenes”).

      If that is true, it will help.
      Might not be a problem if I enter MM order next day after a stock sale, but it will mean that I will have to stay on top of things EVERY day. That may be a challenge for me because I am often “out of range” for a day or more at a time.

      That all said, I haven’t seen anything from schwab.
      I brought it up on a call with support a few minutes ago (they had recorded a sell transaction as a short – for no reason they could explain) and the rep had no clue what I was even talking about. I take that to mean that there isn’t a “script” written for this yet (or I had an uninformed rep – which is common).

      1. Yeah I think the MMF trades do now show up in the evening, but the settlement date is still T+1. But perhaps this could be in preparation of going to same day settlement.

        If they don’t do anything it will become more costly to leave limit orders active in a Schwab account.

        1. They could also push back the MMF order entry deadline to say a half hour after the close, so you could enter an MMF sell if a market hours limit order fired near the close. There would still be a problem with after hours trades though.

    2. Just received blast email from Schwab and they are not making any changes:

      If you place a trade in a margin account and then need to sell money market funds (“MMFs”) to cover your purchase, the funds will need to be available prior to or on the same day as the trade settlement to avoid being charged margin interest. For trades placed for bonds, equities and other securities, the MMFs will need to be sold by 4 p.m. ET the same day the purchase trade is placed.

      1. I am probably missing something as usual, but this does not seem to be an issue. I keep very little in the Schwab sweep account. When I buy a stock, I
        need to sell a sufficient amount from SWVXX the same day to cover it. The only potential problem is if one uses gtc orders, in which case you need to keep sufficient funds in the sweep account to cover all potential open orders.

  9. 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?

  10. 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.

  11. 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.

    1. 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.

      1. 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.

        1. 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.

    2. 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……

    3. 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!

      1. 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.

      2. 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.

      3. Apparently Schwab switched their order routing setup from the SSE to ToS for certain accounts over this past weekend. For the accounts that saw their routing switched over the weekend, trade order status history for cancelled or expired orders on the standard Schwab web-based platform can no longer be seen, due to that routing switch (according to the Schwab rep. I spoke with). I’m not even using ToS, but the loss of the orders that expired recently makes me disappointed with ToS also.

  12. 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)

  13. 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.

    1. GnG and other folks on ME –
      Have you used any other brokerages besides ME? How do you feel that customer service responsiveness is at ME versus others? I’ve noticed that Schwab’s customer service is not what it once was, and the Schwab web presence has had a number of buggy behaviors over the past little bit … wondering if ME might be a better choice now. Your sense?

      1. I’m not on ME but TD & Schwab and am noticing bugs and service issues as well. They still haven’t opened up the programming API. Very far behind on migration and host of other issues.

        Does anyone have feedback on ME in terms of interface, service and options pricing/fees?

      2. Hi SNewman, I use ME, Fido, Schwab, and TDAm. Latter until May 10, when the account will transfer over to Schwab. Customer service responsiveness may depend on total assets. Some brokerages have a special phone line for clients with assets exceeding a threshold. AFAIK, the threshold is satisfied by all assets in the household at Fidelity. At TDAm, it may be by the combined assets in linked accounts or the household.
        I have not called ME customer service for some months so I could not tell you. ME may not be as good as others in terms of customer responsiveness but they may be the most generous with perks. I typically email the ME rep assigned to my account with a specific request or ask for him to call me.

  14. 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?

    1. 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.

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