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Anybody has ever mesured the reponse time of Ameritrade Execution Time on limit orders.
I had & still have Fidelity & the comissions & execution time on limit orders for Pinks & OTC were killing me....You will believe that if I sold IBZT today, I would have to pay a commision of 500 U.S. for 200K shares.
Well for my daytrading I changed to Ameritrade, actually the only discount broker which would take internation account application on-line...actually pretty fast.
Now just wondering how efficient Ameritrade is with respect to execution...
Any input will be helpful...especially execution time for buys & sells on Pinks & OTCBB.
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I have used Ameritrade for quite some time and on stocks traded on the Naz and big exchanges they are quick. for Pinks and OTC they are slow to the point of you losing money when the bottom falls out of a stock. I have put in for sells at less then bid and it can take 10 minutes for them to work out. You need to have guts to trade these type stocks and Ameritrade adds that extra level of stress to making sure your trades go through. Other than that, no problems with them. If you have been trading for a while (over 2 years) see if you can get onto Freetrades trading platform - especially if you are going to daytrade a bit. Good Luck Trading. Ploof
Posts: 6 | From: Tampa, Florida, USA | Registered: Jan 2004
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The delay is not due to the broker, its due to the OTC market which is not electronic. OTC orders are put through by actual people, and takes anywhere from 2-7 minutes for your order to reach their desk before they can execute them. You have to take this delay into account when trading the OTC and pinks. Ameritrade is the best online broker for this, as much as I hate them.
Posts: 1679 | Registered: Oct 2003
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Cabbage, Thanks for adding to my reply. Ameritrade is actually a good service - I am in the process of opening an account with Freetrade - gotta get the wife to sign the papers. Are you familiar with them? - I have not heard any horror stories about their trading except for trying to contact them by phone. I thought i would keep me Ameritrade account open with some long term stuff and use Freetrade for the daily plays. Ploof
Posts: 6 | From: Tampa, Florida, USA | Registered: Jan 2004
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Ploof... Im not a 100% on this but Im pretty sure FreeTrade is a division of ameritrade and the 2yr. rule is because customer service is basically un-available. Its a platform used strictly for trades, hence the low commisions.
Posts: 206 | From: silver spring, MD, USA | Registered: Feb 2004
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BroBro, FreeTrade is affilaited with Ameritrade - I am able to transfer, rather than sell, a portion of my portfolio to them. If it is greater than 25k worth than no charge, less than that $25. charge. They were quick to respond to my request via their website so hopefully it will be a simple transfer of info and get on with trading. the 2 year minimum as a trading history - I am not totally sure if that has to do with them not wanting to answer "simple" questions or what. Ploof
Posts: 6 | From: Tampa, Florida, USA | Registered: Jan 2004
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With ameritrade you will end up paying at least .001 per share for stock trading at the .000 levels. And for stocks that trade at the .0000 level you will pay .0001 per share. If you put a buy limit in @ .095, they will get it for .094, but will charge you .095. So they get you pretty good at Ameritrade too. Dont think every thing is great in Ameritrade land! So you might end up paying more than you were at Fidelity but you wont notice unless you watch you transaction go through in real time!
Posts: 346 | Registered: Jan 2004
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quote:Originally posted by ploofy1: I... If you have been trading for a while (over 2 years) see if you can get onto Freetrades trading platform - especially if you are going to daytrade a bit. Good Luck Trading. Ploof
I got an e-mail back from Freetrade telling me very frankly that they do not offer accounts to non-us persons...only U.S. citizens or residents...
quote:Originally posted by delt16: With ameritrade ... So you might end up paying more than you were at Fidelity but you wont notice unless you watch you transaction go through in real time!
Fidelity after 1000 shares charges (base fee rang 38-7 USD per transction depending on your user level) + 5 dollars for limits + 5% of principle (buy or total sell)thru web...which is pretty high. Below 1000 it only charges base fee. Fidelity is actually pretty good for shares below 1000 & execution time is pretty amazing even for limit orders, but have felt that it is very unfriendly for OTC & Pink.
So practically for all the pinks & otcbb I endup paying always base fee + 5 USD for limit + 5% principle(Never buy less than 1000 shares).
If I remember right, Ameritrade is nowhere near here. Right ?
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