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VisualMod t1_j6b79s9 wrote

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derpmcperpenstein t1_j6b8f8j wrote

Like Webull ( 4 am to 8 pm). Also use SoFi for some long positions and TD Ameritrade

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PAPRHNDS t1_j6b9krv wrote

IBKR. Steep learning curve, but cheap commissions, cheap margin, good execution.

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EO614 t1_j6bay3l wrote

I trade with Fidelity and haven’t had any issues.. and watch tickers on WB

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DoubleKillGG t1_j6bdsvl wrote

90 day restriction for what? Pattern day trading?

You can request a one time flag removal if you are unable to meet the equity maintenance call of $25,000 instead of waiting 90 days.

Or switch to a cash account. Read up on good faith violations. Options settle T+1. Stocks settle T+2.

Else, I recommend TD Ameritrade (thinkorswim) and Tastyworks.

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Setsuna_15 t1_j6bfwhf wrote

Fidelity for long term once I start my career and webull to look at charts then proceeding to blow money on robinhood

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ThatMightBeTheCase t1_j6bhrkm wrote

I will get shit on but the option chain is so easy on Robinhood so I keep $10k there for short term positions.

TDAmeritrade for everything else.

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kad202 t1_j6bjsig wrote

Robinhood despite the owner being a crook but ease of usage is king for me

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ORCA_OF_WALLST t1_j6bkxea wrote

Choose a broker that allows you to trade futures then you can just trade ES and no PDT

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LeatherVisible t1_j6bpck2 wrote

TD with think or swim. Easy to set up all the charts the way I like. Orders get filled quickly.

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patriots317 t1_j6bposi wrote

I use NOT Robinhood because it’s for punk ass bitches.

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Same_Class5866 t1_j6bqaji wrote

Robinhood just because that's what I started out on. I have now started a little bit on Webull might see if I can transfer everything over there.

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SkinnyPets t1_j6bssb3 wrote

Schwab bought out TD Ameritrade. Schwab for the win. Great stock stats too!

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FlatSnakePenis t1_j6by6sc wrote

I use Schwab's StreetSmart Edge, TOS to use their custom scans and free access to BookMap, and Tasty to monitor the most active options. This takes 7 screens on 3 CPUs. I execute all my trades through Schwab and get pretty impressive fills - I swear I often get fills that are better than the NBBO I'm staring at in Level 2. Used to use IBKR, but getting through to their customer service was exhausting.

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Apollon-Galanis t1_j6c0o0d wrote

webull got account restricted on robinhood for daytrading

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FlameScytheX OP t1_j6c2wls wrote

Replying to DoubleKillGG (#1,570,063)

PDT violation. I asked them if they could forgive it but they said it's a regulation rule and not a brokerage rule so their hands are tied. I can still make trades but they have restricted my account to cash and only when it's settled.

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elpresidentedeltoro t1_j6c45go wrote

My answer is a bit controversial and requires us to take a step back in the Time Machine.

I think the brokerage is the problem. They all make their money on payment for order flow. And thusly, their analysis platform is the consolation prize. They give you access to the game but you don’t actually have the tools to compete. You think you do, but deep down at any brokerage that is free - you are the product.

BlackIV absolutely shits on the competition. See back in the day, talking early 2000s, analysis and the order technology was separate or more separate. You places your trades at x, and did you analysis at y.

All firms realized the more clients the more payment for order flow, net interest, and additional product offerings they could up sell - so they bought up the competition. Trading commission went to 0 and revenues dried up so they had to maintain the trading product and analysis even though it is a loss leader.

Analysis become commoditized, meaning there is really no difference broker to broker. Sure there are a couple categories like full services and trading but in each category the product offering is the same.

And then enters little itty bitty black iv.

They see this and realize that commission free trading is a paradox because it forces the institution to turn their clients into the product. If the product is free you are the product. So you can either stay somewhat whitehat as a broker and chose to up sell your clients into things that make revenue for the firm like managed products or you can go blackhat and sell your clients interests via payment for order flow.

So BlackIV says “nope, not any more. We’re going to ensure that our clients trades arrive at the exchange on time and unsniffed, but because we have to offer that for free, we have to find a way to give real value to clients in a way that is worth it for them.”

And tada, they rip tools from the deepest darkest back rooms of Wall Street elite and they give them to retail. They don’t exactly tell them how to use them all in the same way because that would be collision, but they see how smart retail traders can be when they can operate in a decentralized manner.

And even without that, each trader can see things that was never available to them. At the low end, a retail traders would have to pay $1700 a month for the data feed that BlackIV provides. And they do it for absolute free with SPY. Everything else is $10 total per month. That’s it.

But the long term play to get enough clients who derive alpha from their data that the revenue is enough to stand up and maintain commission free trading without subsidizing that via payment for order flow and screwing over the very clients that made them.

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wallstreetbets-ModTeam t1_j6cn92q wrote

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