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Non-Tech : Fidelity FOX Spartan Brokerage
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To: E. Davies who wrote (188)7/11/1999 10:57:00 PM
From: Stinkie  Read Replies (1) of 222
 
Fidelity seemed ok a few months ago, as I wanted to consolidate my accounts I moved them all to a Fidelity account I had while I researched for a better Level II firm than what I had. Lately, I have seem my order reflected on Level II less and less. And I have received the most moronic responses from them. As if They have no idea how Level II works. I even had a broker tell me Friday that buy orders can only get filled at the Ask. I stated, maybe at Fidelity but that's not at your competitors. I was told on NASD you can only get filled at the ASK. I guess that one has worked for her in the past. And yes, after seeing all the 5 and 7 minute fills lately it is clear, to me anyway, they are sitting on orders and or trading against you. If a stock is moving up, they will hold filling a market order if they can trade against you. Why sell you a stock at 30 when they can sell it to you at 32 in a few minutes? And for instance, I had several limit orders placed at or slightly above the ask not get filled the past week. I sat watching the stock move up and through the ask over a couple minutes and not get filled. And yes there was plenty of orders filled at my price after my trades placed. Again, I am just stating that with Fidelity trading against you, you can not short tern trade. Thus, their new Active Trader Site will be useless as the poor fills will still be impossible to overcome. And no there are plenty of firms out there who do not trade against you.....
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