Investors forsaken by their brokers for short-term profits may end up leaving brokers in droves. Heading instead for more robust decentralized investment vehicles. Receipts Enclosed.
What a wild week. I’ll be brief. As far as exchanges for active traders Kraken seems robust as a trading option. Their fees are steeper than Binance.us, but Binance has literally melted down due to the demand now happening. And it’s only gonna get worse from here. I base this on both their melting down and the difficulty of me 1) Getting an outgoing wire from Forex.com (high demand) 2)Etrade limiting my card and you can’t get through to Etrade any more. Etrade is acting sus of late. About a month ago they took off their stock screener, no reason. Support said on a Youtube livestream, and I paraphrase: “Investors don’t need it.” What happened? Well, all of these folks trapped at home turned to trading and the astute ones were using screeners. I guess too many of the wrong people were making money in their eyes. Need banking or trading support? Good luck getting through to Etrade. Once I was becoming profitable on Etrade, I would get errors like this:
At least with Ameritrade I was getting fills.
Now this could simply be a series of coincidences. But ours is a account is a small account with very little money. But out trading has become more consistent and more profitable recently, and suddenly we get these inexplicable fill denials with no explanation. We hopped over to Ameritrade and got the fills with no problem. This suggests there’s a market maker at Etrade with their finger on the scale. Again, getting into losing trades presented no problems. This is why we are beginning to favor trading cryptos as volatile and as speculative as they are, it doesn’t feel as though someone is actively working against one.
Brego finds TD Ameritrade is more reliable and professional overall…but even their support is overwhelmed at present. It’s happening all over. I anticipate we could be headed for a stock crash. Don’t quote me on that. I don’t think it will be a bad thing, just people becoming financially empowered and moving to cryptocurrencies, so more of a massive reallocation. Yes, some of this could be blamed on Covid19, and perhaps it’s a convergence of events, but if Forex.com can’t handle this movement…we are gonna see some big changes. One should note that the Currency market makes the stock market look like child’s play. I expect big changes first in the financial sector. So far, I have vetted Coinbase and they are a solid wallet company good for getting into positions and some light trading. You can find join links at Brego.com Live long, notice the little things, and prosper! I love you all. 🙂