Is option trading on Fidelity fast? Faster that TOS? I understand execution time is faster on Fidelity, but is is it time consuming to set up the trade before you can send. Would like to know specifically for day trading.

Thank you in advance.

Currently Fidelity is the only trading account I have. I have almost 6 figures of cash in the account and over six figures of margin buying power. The trades I make are usually relatively safe and I never trade more than I could easily wire in to cover should I need to. I've been trading options for the last couple of years and have level three access on Fidelity. That being said there are still some restrictions That make me miss out on some plays such as not being able to trade 0dte even if they are covered calls or cash covered puts. If I decided to move elsewhere what would your recommendations be?

Has anyone tried Fidelity’s Trading Dashboard?

https://www.fidelity.com/trading/trading-dashboard

I haven’t seen much coverage as people talk about TOS or Robinhood’s new Legend platform but TOS is too complicated for me personally and the Legend platform Robinhood rolled out only has 6 tools and doesn’t allow for advanced orders etc.

Trading Dashboard has some very cool option chains and probability graphs built in and I believe Fidelitys option trade execution is among the best. Anyways wanted to see if anyone’s tested it out?

I have been with fidelity for more than 5 years now, and most of my investing is through them. I never faced any issues with customer services until I started using options. When I first started using options I saw the high fees and then almost decided to move my options trading to other platforms like Webull and Robinhood, but when I talked to customer service about this and I was told that if used the service for some time then they could waive or reduce the options fees for me. So I kept using fidelity for options trading and it has been almost 18 months now and they are still saying I am not eligible for an option fee waiver or at least a reduced fee.

Have any of the community members successfully been able to waive/reduce option fees from fidelity?

What other platforms have you been using to trade options?

For reference: Fidelity charges $0.65 per option trade.

e.g Buying a call @ 100 and then selling it @ 110: Total fees $0.65 + $0.65 = $1.30

After training since middle of May, taking a 2 day course, and studying options trading for countless hours, today I got denied by Fidelity when finally requesting Options on a brokerage acct.

Not gonna lie, that kinda hurt my feelings. I have 100K in that Fidelity brokerage acct and even more in other accts.

From what I read, I’m in good company.
Should I take it they don’t want newbies trading on their platform? I answered “1 year or less” on the options trading experience drop-down, and requested tier 1.

Should I just open an acct with Tastytrade or similar?

Edit to original post: some are saying I should haved just lied to claim I had trading experience. Fidelity required me to upload documents as proof of trading history...also of income (pay statement)...and copies of all brokerage accounts or bank accounts. Doesn't seem like lying would have helped unless the docs were fake too.

The Saga continues: I reaplied with info they requested, and even some supporting info they didn't ask for!