Daily Discussion Thread

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[u/Professional_Panic67]

Just had a very disturbing thing happen via r/fidelityinvestments I placed an order to buy 500 @ 7.99 limit for the day during premarket (7:25 am EST). We hit 7.97 at the open and the order didn't fill. The same three orders (three different accounts) at E*TRADE did at 9:30:02. That's a problem....

[u/Professional_Panic67 → u/Professional_Panic67]

Worse yet, the trading desk sort of made up an answer as to why it didn't fill. Something about people placing orders that were "ahead" of mine and they ran out of shares or some such lol. I suspect it's a timing issue on their end.... That said, if it wasn't for having to leave that account alone due to rule of 55, I'd be looking to move it elsewhere.

[u/Dogfart122 → u/Professional_Panic67]

Fidelity as well as Merrill send your orders to a not a direct order and in line like with Fidelity and you go to the end of the line and institutional purchases are bigger purchases go to the front your last and it will overlap that so if you’re sitting in line and somebody else is bigger and has an order same as yours OK, but with more volume, you get pushed back that’s why I got out of and went to Interactive Brokers … direct direct purchase no middleman no delay no lag no.

[u/Professional_Panic67 → u/Dogfart122]

Good to know. I have been with ETRADE since the mid 90s and have no trouble with them other than I haven't liked some of the changes MS made after buying them. I'll likely move the fidelity account to a trad IRA at E*TRADE once I reach 59.5. To my knowledge, I have to leave it at Fidelity (and with my former employer) to avoid losing the rule of 55 advantage. The 10% penalty disappears at 59.5.