03-02-2020, 05:48 PM
Really need to tell us why you want to switch, then we can tell you what you might gain. Now that all providers cost about the same cost, it really comes down to.
1. Your trading habits
2. Would you use free research if quality is good?
3. Proprietary free mutual funds and ETFs, access to others for free?
4. Easy access to a place to put your cash where it actually yields some competitive interest
5. System reliability when market is extreme high volume.
6. Intuitive system interface you can navigate at high speed when necessary.
7. Customer service
TD vs Vanguard,
I'd say TD wins 1-2-5-6. They are notably ahead on high speed interface. Research is very good for free. AWESOME for options. Customer service is decent. Friendly enough, I don't always feel like I am talking to a pro, but it's not like I call them a lot to judge fairly.
Vanguard wins 3-4-7. Their low cost index funds (stocks and bonds) are the industry standard, you don't have to go searching for a cash like fund to park your money. Some brokers will pay you about zero while your cash is parked if you allow it. Their stock research is VERY weak. I don't really have any issues with speed or interface, but I'm just managing a DGI and fund port in this account. Sell some covered puts that aren't very time sensitive. Limit orders execute perfectly 99% of the time. They seem to get me a better price at times. Customer service is very professional. I felt comfortable moving a large sum of money. If you have a decent sized account they move you to the head of the line when you call. They may all do that but there are different categories of customers at VG.
I've heard Schwab is very good for traders as well.
1. Your trading habits
2. Would you use free research if quality is good?
3. Proprietary free mutual funds and ETFs, access to others for free?
4. Easy access to a place to put your cash where it actually yields some competitive interest
5. System reliability when market is extreme high volume.
6. Intuitive system interface you can navigate at high speed when necessary.
7. Customer service
TD vs Vanguard,
I'd say TD wins 1-2-5-6. They are notably ahead on high speed interface. Research is very good for free. AWESOME for options. Customer service is decent. Friendly enough, I don't always feel like I am talking to a pro, but it's not like I call them a lot to judge fairly.
Vanguard wins 3-4-7. Their low cost index funds (stocks and bonds) are the industry standard, you don't have to go searching for a cash like fund to park your money. Some brokers will pay you about zero while your cash is parked if you allow it. Their stock research is VERY weak. I don't really have any issues with speed or interface, but I'm just managing a DGI and fund port in this account. Sell some covered puts that aren't very time sensitive. Limit orders execute perfectly 99% of the time. They seem to get me a better price at times. Customer service is very professional. I felt comfortable moving a large sum of money. If you have a decent sized account they move you to the head of the line when you call. They may all do that but there are different categories of customers at VG.
I've heard Schwab is very good for traders as well.