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The market was not jammed, only Robinhood was jammed. I could still buy GME on Schwab if I wanted

by nemothekid 6y ago

NovemberWhiskey 6y ago
... or Fidelity or Vanguard or Wells Fargo or Citibank or ...
throwawayboise 6y ago
I had heard that Schwab and TD Ameritrade suspended GME trades as well, was that not true?
- londons_explore 6y ago
  Theres a site for that: https://www.wherecanibuygme.com/ https://www.wherecanibuygme.com/
- mcguire 6y ago
  I was unable to look up the GME quote on TDA Thursday. In their UI, the quote is the place with the Buy button.
  - saratogacx 6y ago
    I used TDA via the ThinkorSwim app and it had no issues on Thursday. If you are at a PC and using the site, I'd suggest getting the TOS desktop app as it seems to be a lot more stable. It is NOT user friendly though so it may take a tad to get used to.
- pc86 6y ago
  Related but separate. Robinhood has an internal clearinghouse which halted trading for Robinhood. Apex is a large third-party clearinghouse used by M1 and others that restricted buys for all (most?) of its clients. TDA and Schwab both have their own internal clearinghouses so far as I know.
- kllrnohj 6y ago
  They did not. They did introduce restrictions: https://www.tdameritrade.com/td-ameritrade-trading-restrictions-stocks.page https://www.tdameritrade.com/td-ameritrade-trading-restricti...
colllectorof 6y ago
"GameStop and AMC trading restricted by TD Ameritrade, Schwab, Robinhood others " https://www.msn.com/en-us/money/personalfinance/gamestop-and-amc-trading-now-restricted-by-td-ameritrade-and-schwab/ar-BB1d9dmv https://www.msn.com/en-us/money/personalfinance/gamestop-and... "Some users are experiencing issues with trading platforms Vanguard, TD Ameritrade, and Charles Schwab due to heavy volume" https://www.businessinsider.in/tech/news/some-users-are-experiencing-issues-with-trading-platforms-vanguard-td-ameritrade-and-charles-schwab/articleshow/80484785.cms https://www.businessinsider.in/tech/news/some-users-are-expe... Not to mention that the market is made up of all platforms and several of them were downright prohibiting GME buying. Some are listed in the article. Robinhood alone has more than 13 million users.
- easton 6y ago
  The restrictions at Schwab (and I'm pretty sure TD) were different than Robinhood, they only restricted shorting, buying on margin, and selling naked options. Buying and selling GME/AMC with cash were available the entire time (I could do it).

The market was not jammed, only Robinhood was jammed. I could still buy GME on Schwab if I wanted

NovemberWhiskey 6y ago

... or Fidelity or Vanguard or Wells Fargo or Citibank or ...

throwawayboise 6y ago

I had heard that Schwab and TD Ameritrade suspended GME trades as well, was that not true?

londons_explore 6y ago
Theres a site for that: https://www.wherecanibuygme.com/ https://www.wherecanibuygme.com/
mcguire 6y ago
I was unable to look up the GME quote on TDA Thursday. In their UI, the quote is the place with the Buy button.
- saratogacx 6y ago
  I used TDA via the ThinkorSwim app and it had no issues on Thursday. If you are at a PC and using the site, I'd suggest getting the TOS desktop app as it seems to be a lot more stable. It is NOT user friendly though so it may take a tad to get used to.
pc86 6y ago
Related but separate. Robinhood has an internal clearinghouse which halted trading for Robinhood. Apex is a large third-party clearinghouse used by M1 and others that restricted buys for all (most?) of its clients. TDA and Schwab both have their own internal clearinghouses so far as I know.
kllrnohj 6y ago
They did not. They did introduce restrictions: https://www.tdameritrade.com/td-ameritrade-trading-restrictions-stocks.page https://www.tdameritrade.com/td-ameritrade-trading-restricti...

colllectorof 6y ago

"GameStop and AMC trading restricted by TD Ameritrade, Schwab, Robinhood others " https://www.msn.com/en-us/money/personalfinance/gamestop-and-amc-trading-now-restricted-by-td-ameritrade-and-schwab/ar-BB1d9dmv https://www.msn.com/en-us/money/personalfinance/gamestop-and... "Some users are experiencing issues with trading platforms Vanguard, TD Ameritrade, and Charles Schwab due to heavy volume" https://www.businessinsider.in/tech/news/some-users-are-experiencing-issues-with-trading-platforms-vanguard-td-ameritrade-and-charles-schwab/articleshow/80484785.cms https://www.businessinsider.in/tech/news/some-users-are-expe... Not to mention that the market is made up of all platforms and several of them were downright prohibiting GME buying. Some are listed in the article. Robinhood alone has more than 13 million users.

easton 6y ago
The restrictions at Schwab (and I'm pretty sure TD) were different than Robinhood, they only restricted shorting, buying on margin, and selling naked options. Buying and selling GME/AMC with cash were available the entire time (I could do it).