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Fidelity Active Trader
- Thread starter RandyS
- Start date
Same here. I have many tools that relay on TOS export capabilities. If I have to go 'cold turkey' I'd consider Tradier. Aeromir has a good deal with them re commissions and they seem to have decent API. I know nothing about their platform. I'd go for commissions reason if I know more about API reliability, especially in stress times. New tools need to be developed but it is possible.
My thinking on this is similar to Marcas. I need more automation not less, and have constructed my processes accordingly. I have not looked into Tradier.
There are many features that TOS supports, that seem to be missing from other brokers. That Paste of trade orders is just one of them. Another is the ability to export trade history (quickly, and to to moment), another is support of complex conditional orders and orders with thinkscript, other is trade allocation across multiple accounts, where the trades are tagged, so modify&replace is supported (keeping you from having to walk thru each account and make trade changes without interruption or injecting an error), other is the access to realtime data via RTD, and the ability to validate complex conditional orders via papermoney before deploying them. -- The reliability of TOS is also a known entity. Above are some features that come to mind.
There are many features that TOS supports, that seem to be missing from other brokers. That Paste of trade orders is just one of them. Another is the ability to export trade history (quickly, and to to moment), another is support of complex conditional orders and orders with thinkscript, other is trade allocation across multiple accounts, where the trades are tagged, so modify&replace is supported (keeping you from having to walk thru each account and make trade changes without interruption or injecting an error), other is the access to realtime data via RTD, and the ability to validate complex conditional orders via papermoney before deploying them. -- The reliability of TOS is also a known entity. Above are some features that come to mind.
Thanks for clarifying
I didn't realize that there are that many uses for it
When you say trade allocation across multiple accounts I assume all these accounts are at TOS
Is that correct ?
I understand that for the G tool is very important but that means you are locked in on TOS only account
Sounds like you can't really go without TOS unless you accept the commissions or as you say go "cold turkey" and enter them manually
I didn't realize that there are that many uses for it
When you say trade allocation across multiple accounts I assume all these accounts are at TOS
Is that correct ?
I understand that for the G tool is very important but that means you are locked in on TOS only account
Sounds like you can't really go without TOS unless you accept the commissions or as you say go "cold turkey" and enter them manually
Yes! I have many accounts with TDA, with 11 of them linked in TOS. The allocation allows a trade to be distributed across linked accounts with qty allocations you specify. So, if you need the same trade across multiple accounts, you can make the management more "senior friendly". I used this feature a lot in the past.When you say trade allocation across multiple accounts I assume all these accounts are at TOS
Is that correct ?
Are all those account individual margin accounts in your name ?
Usually brokerages don't allow more than one margin account for an individual otherwise I would could have opened multiple accounts at TD and consolidate them rather than having them spread out at different brokerages
Usually brokerages don't allow more than one margin account for an individual otherwise I would could have opened multiple accounts at TD and consolidate them rather than having them spread out at different brokerages
NO! But I do have trading authority on all the accounts! All these accounts are margin accounts. Some IRA/ROTH IRA, individual, joint, and corporate. (Includes some relatives)Are all those account individual margin accounts in your name ?
Usually brokerages don't allow more than one margin account for an individual otherwise I would could have opened multiple accounts at TD and consolidate them rather than having them spread out at different brokerages
K
KevinK
Guest
If it's helpful for anyone, I've been trading SPX positions with Fidelity for a month or so now. It seems that their commissions are the lowest given that they don't charge any index fees. I also have a negotiated rate from way back so that also helps. I've found Active Trader Pro to be very buggy and not nearly as stable as any of the other brokers I use (Etrade, TD and Tastyworks). So I mostly use the web interface. For simple trades, Calendars and Spreads, it's not an issue since I always have TOS for analysis. You can't close multi leg trades easily on the web interface, so what I usually do is put in a closing order immediately and adjust the price as necessary if I need to get out or adjust sooner. I've found execution to be fine and with the much lower commission cost, it's hard to beat price wise.
However, given the weakness of Active Trader Pro, and the lack of functionality on their web interface ( no greeks ), I personally wouldn't trade anything complex (butterflies or anything that needs rolling one leg) with my Fidelity account.
On the Schwab front, I am curious whether or not they will sneak in the SPX fees at some point in the future. If TD is introducing them, my guess is Schwab will as well. This happened with Etrade when they bought Options House. They never charged index fees until after they bought OH and integrated their system and platform. Afterwards they streamlined all their fees to remain consistent. I would expect the same from Schwab, but if they don't I would look into trading with them since their software is better than Fidelity's.
However, given the weakness of Active Trader Pro, and the lack of functionality on their web interface ( no greeks ), I personally wouldn't trade anything complex (butterflies or anything that needs rolling one leg) with my Fidelity account.
On the Schwab front, I am curious whether or not they will sneak in the SPX fees at some point in the future. If TD is introducing them, my guess is Schwab will as well. This happened with Etrade when they bought Options House. They never charged index fees until after they bought OH and integrated their system and platform. Afterwards they streamlined all their fees to remain consistent. I would expect the same from Schwab, but if they don't I would look into trading with them since their software is better than Fidelity's.
Thanks for input KevinK, I did use Fidelity good few years ago and it was, as you said, to simplistic. I see that not much changed since.
I heard about Tadier's API but have never seen any review from a user. I also heard they practically dont have any platform (I might changed as my info is from a year or two back).
I suspect the presentation of ChoiceTrade on Round Table may be coming soon. For those interested, it may be worth to watch video posted in this thread above to prepare some questions, because material to absorb is vast. I talked to them again and seems that that equivalent to TOS exports can be achieved there, just in different way. Person I spoke to was not very familiar with API side.
I heard about Tadier's API but have never seen any review from a user. I also heard they practically dont have any platform (I might changed as my info is from a year or two back).
I suspect the presentation of ChoiceTrade on Round Table may be coming soon. For those interested, it may be worth to watch video posted in this thread above to prepare some questions, because material to absorb is vast. I talked to them again and seems that that equivalent to TOS exports can be achieved there, just in different way. Person I spoke to was not very familiar with API side.
If it's helpful for anyone, I've been trading SPX positions with Fidelity for a month or so now. It seems that their commissions are the lowest given that they don't charge any index fees. I also have a negotiated rate from way back so that also helps. I've found Active Trader Pro to be very buggy and not nearly as stable as any of the other brokers I use (Etrade, TD and Tastyworks). So I mostly use the web interface. For simple trades, Calendars and Spreads, it's not an issue since I always have TOS for analysis. You can't close multi leg trades easily on the web interface, so what I usually do is put in a closing order immediately and adjust the price as necessary if I need to get out or adjust sooner. I've found execution to be fine and with the much lower commission cost, it's hard to beat price wise.
However, given the weakness of Active Trader Pro, and the lack of functionality on their web interface ( no greeks ), I personally wouldn't trade anything complex (butterflies or anything that needs rolling one leg) with my Fidelity account.
On the Schwab front, I am curious whether or not they will sneak in the SPX fees at some point in the future. If TD is introducing them, my guess is Schwab will as well. This happened with Etrade when they bought Options House. They never charged index fees until after they bought OH and integrated their system and platform. Afterwards they streamlined all their fees to remain consistent. I would expect the same from Schwab, but if they don't I would look into trading with them since their software is better than Fidelity's.
On Fidelity, can you export or save the trade with adjustments and switch back and forth?
I talked to them again and seems that that equivalent to TOS exports can be achieved there, just in different way
The only thing I found was the Quotestream that has RTD for stocks
I have not found anything for options
Thanks for input KevinK, I did use Fidelity good few years ago and it was, as you said, to simplistic. I see that not much changed since.
I heard about Tadier's API but have never seen any review from a user. I also heard they practically dont have any platform (I might changed as my info is from a year or two back).
I suspect the presentation of ChoiceTrade on Round Table may be coming soon. For those interested, it may be worth to watch video posted in this thread above to prepare some questions, because material to absorb is vast. I talked to them again and seems that that equivalent to TOS exports can be achieved there, just in different way. Person I spoke to was not very familiar with API side.
Looking at the details of Choice Trade the SPX and RUT trades below. The exchange fees are $1.00 per contract with no limits.
There is a list of cash settled options including SPX, OEX, RUT and VIX, for which ChoiceTrade charges a surcharge of $1.00 per contract in addition to the regular commission. This surcharge does not apply for options on ETFs such as QQQ or SPY. $50 maximum commission per month excludes the cash settled option surcharge.
I agree with what KevinK was saying about Fidelity although Schwab is just a few pennies cheaper than Fidelity
As far as the the way I think they will sneak in the index fees is just by eliminating their own platform so if everyone is using the TOS platform they all have to pay the index fee That's just part of the integration
As far as the the way I think they will sneak in the index fees is just by eliminating their own platform so if everyone is using the TOS platform they all have to pay the index fee That's just part of the integration
I talked to Joe at Tradier and he told me that SPX, RUT and NDX would not be included in the flat monthly fees. The cost would add up to about $.95 per contract. The $.35 per contract for commissions and the exchange fee would be added on all trades. I mentioned Aeromir's deal with Tradier and he said that their pricing on index options would override the limited monthly charge that they have with Aeromir.
He did say that switching to SPY would be covered in the Aeromir deal.
Also, no trade allocation to multiple accounts.
He did say that switching to SPY would be covered in the Aeromir deal.
Also, no trade allocation to multiple accounts.
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I placed my first calendar trade with Fidelity and immediately had an issue. The strike for the long had no volume the day before so they don't show any pricing for that option. There was no volume today so for two days that strike is showing no change and you can't place in the PL analyzer because it doesn't show up since there is no volume. I'm talking to them about it. What TDA does is they plug in the mid to give you a PL even when there is no volume from the day before. Fidelity must not use the mid so I have a position that shows a big loss because it doesn't have data for the strike. Once there is more trades placed in that strike I assume the problem will be fix but until then you can't analyze the position or know what the approx value is. I have the exact same position in TOS so I have my greeks.
Has any had the same thing happen?
Has any had the same thing happen?
Which strike and expiration is the one in question ?
Feb 12 3230 SPX