Good -
-Excellent tools for the active trader. You can do analysis, get news, get live level II quotes, backtest, and trade on the same screen for multiple stocks.
-Extended trading hours. If your position is deteriorating before or after the market, you can do something about it.
-Faster execution than the other brokers I have worked with. I seem to go to the front of the line more often than not with my limit orders.
-Excellent help online. I have no idea what their customer service is like because I have never had to call them.
-Site/tool stability. I have not had issues with the site being down when I need it.
-Flat pricing is great for larger orders.
-Lots of free extras for people that place a lot of orders. These guys know how to take care of customers that do more than a couple of transactions per month.
-Multiple platforms, each customizable for how you trade. These guys understand that everyone does things a little bit different.
-The trade interface is very fast, and does not require leaving your current location to use, either on the site or in one of their platforms.
Bad -
-At $10, this is not the right broker if you are a buy and pray investor that does not care about a couple of pennies on the order, and know what you want to buy.
- The basic news is not complete, but this can be overcome with Google Finance.
- The screener feature does not yield accurate results. I do not use this feature, but I am not sure why this has not yet been fixed.
- Fast execution of partial orders with low volume stocks can kill you. There have been more than a couple of times I spent $10 to buy a handful of a shares. They do offer an all or nothing option, which helps mitigate this risk.
Overall -
I have tried many brokerages, and TD is the one that I like the most. The $10 commision is nothing compared to the money I make due to fast execution, no extra fees for large orders, and extended trading. The tools are perfect for my trading style. On the other hand, if you are an active trader that only works with a small amount of money, it is hard to overcome that $20 for the combined buy/sell.
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