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Thread: Best Investment Platforms for Handling Uninvested Cash???

  1. #1

    Default Best Investment Platforms for Handling Uninvested Cash???

    My current account, that I am using, is still at TD Ameritrade and uninvested cash gets essential nothing. I searched for something better, this is one of the search results.

    Any thoughts on any of these? (Robinhood and Empower I dismissed out of hand)


    https://www.investopedia.com/best-in...d-cash-7486554

  2. #2

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    I thought TD Ameritrade accounts were all switched over to Schwab. I know mine was converted a week or two ago.
    Do your own due diligence

    I stand united with my friends & family in Canada who seek freedom.

  3. #3

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    Quote Originally Posted by LongDonSilver View Post
    I thought TD Ameritrade accounts were all switched over to Schwab. I know mine was converted a week or two ago.

    Not all of them are. Over the years I accumulated, apparently, four TD accounts. I think I had a managed account a decade or so ago, and a 401 account from not much more recent. Unused for all that time and they moved them to Schwab. That left two at TDameritrade, one of which I have used over the years and the other not sure how I ended up with it. Closed it now. TD told me my account I have now is scheduled to move to schwab sometime in next couple of months.

    I would not doubt that accounting shenanigans on the part of TD or Schwab or both are the reason the accounts were not moved in total. But that's just my way of thinking, could be a totally innocent reason.

  4. #4

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    I put some cash into this: Schwab Value Advantage Money Fund® – Investor Shares. It pays 5.25% (at present), no fees and take one day to get out of if you wish to put back into cash in your account.
    Do your own due diligence

    I stand united with my friends & family in Canada who seek freedom.

  5. #5

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    ^^^ quote didn't work


    Thank you LongDonSilver. That is good information.

  6. #6

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    Since that Investopedia link was posted, the Fidelity cash account SPAXX has been returning a little extra - right now at 4.99%. I have money in it. Worth checking out ...

  7. #7

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    Schwab (SWVXX) is now down to 5.25%, but is still easy to jump into and out (no fees) of with a Schwab account. I parked some cash over the holiday and pulled some out yesterday so as to increase my mining stock holdings today.
    Do your own due diligence

    I stand united with my friends & family in Canada who seek freedom.

  8. #8

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    TD was set up with free trades. They had an option for paid trades as well. Free anything seems unsustainable. It occurred to me, that perhaps TD may choose to offload the unprofitable accounts to an entity that would then (fill in the blank)
    “The Federal Reserve is not currently forecasting a recession.”
    Fed Chairman Ben Bernanke, January 2008
    This is no longer posted in the Fed Minutes of January 2008, but still quoted here - https://www.nbcnews.com/id/wbna22592939. The FOMC minutes still quote MR. Reifschneider. as stating the same thing.

  9. #9

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    Quote Originally Posted by SilverPalm View Post
    TD was set up with free trades. They had an option for paid trades as well. Free anything seems unsustainable. It occurred to me, that perhaps TD may choose to offload the unprofitable accounts to an entity that would then (fill in the blank)
    No such thing as a free lunch. No fee perhaps, but I'll bet in the fine print your shares are being lent out to cover options. They are making money somewhere! Plus I'm willing to also bet, but can't prove, that there's a chance that the buy/sell price of a free transaction is held to the end of any order queue and you may not get your order filled in a quick market movement. Having said that I have a no fee account with Merrill Lynch that's tied to my B of Am accounts. As long as I maintain enough money in the bank I get free transactions on SOME, not all transactions. Things like option trading has fees and over the counter (penny stocks) transactions aren't even allowed. Hence, my second account with fees at Schwab (formerly TD Am.)
    Do your own due diligence

    I stand united with my friends & family in Canada who seek freedom.

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