DrForce said: Is TD Ameritrade's trading platform superior to Fidelity or Schwab's? Is that how they can get away with not matching them at $4.95? TDA was charging $9.99 prior to this when others were probably charging $7 or $8. I believe they are maintaining the differential. TDA has a good platform but I dont do much trading to know the ins and outs. TDA also has a large number of no-commission ETFs.
Thinkorswim is an amazingly powerful trading platform. It is competitive with platforms that are or used to be really expensive. Only semi-pro or professional traders will use the advanced features. The options modeling features are some of the best available.
"“There is an effort underway in our industry to redefine value. While some are leading with price, our clients tell us it’s much more than that,” said Tim Hockey, president and chief executive officer of TD Ameritrade. “They have told us time and again that value is delivered via rich experiences that prioritize flexibility and client choice, coupled with a simple, straightforward price. We have an award-winning client offering, plus tremendous scale. With our pending acquisition of Scottrade on the horizon, we have a unique opportunity to enhance that experience even further with lower pricing for all of our clients.”"
You have to somehow read in there how they are better than the competition.
NICE ! ETrade is following suit ! i'm with ETrade "E*TRADE will lower trade commission rate to $6.95 from $9.99 for all customers along with a new tier of $4.95 per trade and $0.50 per options contract for active traders effective March 13 (36.20 )" -Briefing.com
this is like a snowball effect! I hope it keeps going
In any case, thinkorswim platform is the best so far that i could find and good customer support- vs activepro (fido), merrill edge. I havent tried others and the pricing from tdameritrade is good too (FIDO does price improvments).
There's definitely a downward trend in commissions over the last 30 years.
I do think the commission number is somewhat irrelevant these days though. You rapidly reach a transaction size where the execution quality trumps the explicit commission. Probably not a factor if your orders are small or only in liquid names.
valuephile said: Thinkorswim is an amazingly powerful trading platform. It is competitive with platforms that are or used to be really expensive. Only semi-pro or professional traders will use the advanced features. The options modeling features are some of the best available. Agreed. The features of Thinkorswim are just amazing for the price of free. Not a professional trader hence barely use a fraction of the features.
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