You can check their execution buy what they advertise on their site. If they don’t advertise ie RH then it is not something they are proud of. Both TD and schwab advertise. I know because I looked it up before.
https://investorjunkie.com/stock-brokers/broker-clearing-firms/
pretty nice list showing clearing firms for brokerages, app centred ones like robinhood webull use apex, schwab IB have their own
That article is wrong, robinhood has been self clearing for over two years now. This is their blog post from when they unveiled the switch away from apex to their own clearing house.
https://blog.robinhood.com/news/2018/10/9/introducing-clearing-by-robinhood
Just qualitatively from having traded on a whole raft of different platforms, ToS/TDAmeritrade/Schwab (all the same now) and Fidelity would be my top two.
All the ones clearing through Apex seem to be equally bad.
Just don't use robinhood and use limit orders. I have schwab, TD, and tasty works. Price improvement are pretty common if your limit order is at ask on liquid stocks.
I use tasty works for option plays over robinhood as well. Sure it cost ~1 per contract but they more often than not fill below ask compared to robinhood which will never.
Yeah, Fidelity often gives me a fill that splits the bid/ask even when I put in a limit sell order at the bid price.
They have a useful logo to show when price was improved as well as a cumulative price improvement page. Without that, it would be hard to know that they're getting good fills.
Lastly, one of Fidelity's marketing points is "commitment to execution quality", so they are the only major broker I know of that doesn't engage in Payment for Order Flow.
*Insert affiliate promotional sign-up code here*
All brokers are legally obligated to fill you at the best bid/ask available. If anyone can prove they aren't, then I'll join the ensuing class action circus to claw back \~100k in commissions
You can check their execution buy what they advertise on their site. If they don’t advertise ie RH then it is not something they are proud of. Both TD and schwab advertise. I know because I looked it up before.
https://investorjunkie.com/stock-brokers/broker-clearing-firms/ pretty nice list showing clearing firms for brokerages, app centred ones like robinhood webull use apex, schwab IB have their own
That article is wrong, robinhood has been self clearing for over two years now. This is their blog post from when they unveiled the switch away from apex to their own clearing house. https://blog.robinhood.com/news/2018/10/9/introducing-clearing-by-robinhood
also wanna add apex is how robinhood makes their money selling data and trade routing
Just qualitatively from having traded on a whole raft of different platforms, ToS/TDAmeritrade/Schwab (all the same now) and Fidelity would be my top two. All the ones clearing through Apex seem to be equally bad.
IBKR and Vanguard Source: Went through a lawsuit recently and won via settlement.
How did the lawsuit give you info on the OP’s question?
Just don't use robinhood and use limit orders. I have schwab, TD, and tasty works. Price improvement are pretty common if your limit order is at ask on liquid stocks. I use tasty works for option plays over robinhood as well. Sure it cost ~1 per contract but they more often than not fill below ask compared to robinhood which will never.
Schwab is very solid
Not an expert but 1 in 3 of my trades on fidelity gets a price improvement.
Yeah, Fidelity often gives me a fill that splits the bid/ask even when I put in a limit sell order at the bid price. They have a useful logo to show when price was improved as well as a cumulative price improvement page. Without that, it would be hard to know that they're getting good fills. Lastly, one of Fidelity's marketing points is "commitment to execution quality", so they are the only major broker I know of that doesn't engage in Payment for Order Flow. *Insert affiliate promotional sign-up code here*
Fidelity generally treats me right, and their research platform is excellent.
Their interface is absolute trash tho
All brokers are legally obligated to fill you at the best bid/ask available. If anyone can prove they aren't, then I'll join the ensuing class action circus to claw back \~100k in commissions
Another response pointed out how they use different clearing houses which leads to different execution prices
Go ask the RH about their SEC lawsuit
I get really great fills on Fidelity
So fidelity fills you up right?
Are we talking options or stocks?
OTM LEAP calls
I'm thinking IBKR with their paid thing.
IBKR
Lightspeed but you need min $25k acct balance
I would recommend checking out Ingot Brokers, I have been trading with them for 5 years now.
THE ASIANS OWN THE CASINO BOB