I have a Fidelity brokerage account. It can literally take a few days for a trade (stock or mutual fund) to go through. If I were trying to do agile trading, this would be a real problem. Why does it take so long and how can I make it faster?
2006-12-05 08:52:12 · 5 answers · asked by Joe F 1 in Business & Finance ➔ Investing
Muncie raises many good points. It may well be the market vs. limit order issue.
I don't know your level of expertise trading, but another possible issue is, even with a limit order, I do find that my Fidelity trades usually take longer than with my accounts with other brokers.
I think Fidelity does some simple stuff very well, but with more complex stuff, they're very far behind their competitors.
I've put through spread orders into Fidelity and other brokerages at the same time (giving Fidelity the first crack) and I've gotten filled on other brokerages before Fidelity, with the Fidelity order still sitting there. But it could just be me.
So if you are, or plan to do a lot of more complex spread or other trades, you might start looking elsewhere.
As Muncie says though, give them a call. Some of their folks can be helpful.
2006-12-05 10:25:12 · answer #1 · answered by Yada Yada Yada 7 · 2⤊ 0⤋
I do not know, Joe. I have a Fidelity account and my trades are executed in less than 10 seconds if they are market orders. If they are limit orders, that is a different story. You have to wait for the market to converge on the limit price. A mutual fund, if it is an open ended fund does not execute until after the market close. I have not purchased any open ended funds from Fidelity, but agile trading is not really an option with that kind of investment. Closed end fund trades like stock trades have executed in less than 10 seconds. Are you going to the order status and checking it to see if the order has executed or are you waiting for an email?
Fidelity has excellent customer service. I suggest you discuss your problem with them.
2006-12-05 09:10:27 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Switch to a REAL brokerage firm. I made two trades today and both times before I clicked to the next page the trade was done. I use Scottrade, one of the cheapest out there. Sorry.
2006-12-05 13:04:49 · answer #3 · answered by Rabbit 7 · 0⤊ 0⤋
This has to do with your firm or financial advisor, probably both. I would switch to a reputable firm. I have an account with Smith Barney in Scottsdale, AZ. Never had a problem. Good luck!
2006-12-05 09:00:06 · answer #4 · answered by 26433_ED 3 · 0⤊ 0⤋
it should NOT take that long - try Ameritrade - it is fast and inexpensive
2006-12-05 16:25:46 · answer #5 · answered by ekleinert 3 · 0⤊ 0⤋