Trading Options at Fidelity

Discussion in 'Retail Brokers' started by BMK, Oct 10, 2020.

  1. BMK


    We are thinking about moving our account to Fidelity.

    We do position/swing trading in equity and index options. We are US citizens.

    Would like to hear from anyone who is currently at Fidelity, what you like and do not like, or anyone who left Fidelity, e.g., why you left.

    Last edited: Oct 10, 2020
  2. ZBZB


    They do not sell order flow like all the other free brokers.
  3. KCalhoun

    KCalhoun Sponsor

    I used to trade with IB, they're great. I now trade actively using fidelity and they're excellent.
  4. guru


    They do sell order flow for options since they don't have enough customers trying to sell and buy the same options, so they are unable to internalize those orders.

    "The company's spokesperson explained that Fidelity uses payment for order flow in the options markets because those are "structurally different than equities. Options orders require the use of specialized options brokers to facilitate price improvement."
    ET180 and TrailerParkTed like this.
  5. deltaf0rce


    during Covid especially in March got every order I ever placed filled at fidelity. My only gripe was the one time early in March they opened the quotes on index options about 10 minutes after the bell. Whatever they had to sort out seemed to be fixed. With that said I left fidelity but it was for features not execution.
  6. Was a heavy option trader at Fido, left because they sucked with CSR and the fills imho were crap. That’s coming from someone who made hundreds of trades daily and option size of 25 to 1000 contracts if size permitted. Gladly pay IB over fidelity regarding options because their better.
  7. ZBZB


    Fidelity use IBM mainframes. IB use Linux on intel.
    Ayn Rand likes this.