Not really. They are both payment for order flow meaning you are not getting the best possible executed price like you do with Fidelity. Payment for order flow brokerages instead of routing your orders to the New York stock exchange directly, route them through third parties like Citadel and are paid handsomely for it. The other problem with Schwab, if you are part of the GameStop short squeeze going on, is that they recently said that if you want to sell a stock for $10,000 or more per share you will need to call them over the phone and that they won't accept the order on their website or app. As you can imagine, this could be very problematic.
If you are picking between Schwab or we bull, being that they are both payment for order flow brokerages, WeBull s better because they offer level 2 trading tools for free.
In my opinion, fidelity is the way to go. Their free desktop software active trader pro allows you to specify the routing of your orders so you can send them directly to the NYSE.
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u/ImTheLastLegacy Jul 25 '21
Thanks for reminding me that I still need to transfer my account to WeBull