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Old 02-10-2018, 02:05 PM   #21
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So Fidelity is a "nanny" after all: https://www.bloomberg.com/news/artic...x-focused-etfs

And yes, it's a case of closing the barn door after the horse is gone except it's worse. Folks who want to get into SVXY at the best time (while volatility is spiking) can't.
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Old 02-10-2018, 02:14 PM   #22
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Quote:
Originally Posted by Ian S View Post
So Fidelity is a "nanny" after all: https://www.bloomberg.com/news/artic...x-focused-etfs

And yes, it's a case of closing the barn door after the horse is gone except it's worse. Folks who want to get into SVXY at the best time (while volatility is spiking) can't.
I don't know anything about SVXY, but could the issue be counterparty risk rather than nanny-ism? In the housing crash, the government had to prop up AIG because they had a huge liability as counterparty to credit default swaps and could not possibly have made good on them without help. Presumably people have learned to worry about that now.
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Old 02-10-2018, 05:35 PM   #23
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Found this news article regarding Fidelity restricting access. The article also states "In order to buy these funds at Fidelity in the first place, customers need to sign a designated investment agreement and must have "most aggressive" risk tolerance registered on Fidelity.com, the brokerage said. ". The OP didn't mention signing a agreement or registering.

https://www.cnbc.com/2018/02/09/fide...-accounts.html
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Old 02-10-2018, 06:45 PM   #24
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I would assume that any serious Fidelity trader would be using Active Trader Pro rather than the web site.
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Old 02-10-2018, 07:38 PM   #25
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Ameritrade has a far better approach. Let an investor buy what they want to buy, but don't allow it to be bought on margin (100% maintenance requirement).
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Old 02-10-2018, 08:18 PM   #26
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No issue logging onto or calling Active Trader line at Schwab. Reps not as chatty as before but then I had a specific question and just needed a rapid answer. And both of them (yes I called twice) were swamped. Still polite, thorough, questions addressed
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Old 02-11-2018, 10:10 AM   #27
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Ameritrade has a far better approach. Let an investor buy what they want to buy, but don't allow it to be bought on margin (100% maintenance requirement).
I agree. That's the best approach IMHO. I can't help but think the difference in approaches may be due to the different origins of Fidelity and TDAmeritrade: the former is mainly a mutual fund company with brokerage services tacked on while the latter has its origins in discount brokerage services (Ameritrade and Waterhouse.) This month TDAmeritrade will be adding Scottrade customers as it completes its takeover.
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