youbet
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I loathe the TD Ameritrade sweep account. Yes, I can sell a money market, and then put in a trade, but I can't have limit orders on equities waiting for market drops, like I can over at Vanguard earning 4.5%. I am not thrilled with Vanguard's customer service.
I have been with TD (soon to be Schwab) a long time because of customer service, but will probably switch away from Schwab next year because of this.
Actually you can have limit orders on equities waiting for market drops without cash to cover. I have some open right now. If the limit order hits, sell the MMF the same day to avoid creating a margin loan.
Yeah, it's a pita (And I've arm wrestled with my rep at Schwab many times over it) but you can do it. When they first implemented the system, MMF rates were high and I bitched. Then when MMF rates were near zero, it didn't matter all that much. Now MMF rates are back up and I'm bitchin' again! But you geneally work around it.
Last edited: