Like any business Fidelity has it's pluses and minuses. Yesterday the minuses have reached the point at which I am going to move my business away from Fidelity. I had a stock in my account for which I sold an option. I've decided that I wanted to go all cash, so I bought back the option and tries selling the stock. The online system would not let me. I had to call Fidelity and watch the price drop to the point that I've lost more than a thousand dollars while they were going through their process. This is the second time this month, and as far as I am concerned unacceptable.
In general, I also find that I don't seem to get the best price on my transactions. I have an account with MB Trading, which seems to execute my orders faster and I get a better price.
Also, I am have always been disappointed with the way that their screens present some of the data. For instance, there is a column with the cost and then the current value, however the current value is not really the current value, but rather value based on the last trade in the market. If you have an option that is way out of the money, this is completely useless. The last trade could have been at $1.00 but the current bid is at $10.00, and Fidelity will base their display value on the $1.00.
Like any business Fidelity has it's pluses and minuses. Yesterday the minuses have reached the point at which I am going to move my business away from Fidelity. I had a stock in my account for which I sold an option. I've decided that I wanted to go all cash, so I bought back the option and tries selling the stock. The online system would not let me. I had to call Fidelity and watch the price drop to the point that I've lost more than a thousand dollars while they were going through their process. This is the second time this month, and as far as I am concerned unacceptable.
In general, I also find that I don't seem to get the best price on my transactions. I have an account with MB Trading, which seems to execute my orders faster and I get a better price.
Also, I am have always been disappointed with the way that their screens present some of the data. For instance, there is a column with the cost and then the current value, however the current value is not really the current value, but rather value based on the last trade in the market. If you have an option that is way out of the money, this is completely useless. The last trade could have been at $1.00 but the current bid is at $10.00, and Fidelity will base their display value on the $1.00.