Fidelity Auto Trading for smaller accounts
Author: dwitzel
Creation Date: 5/14/2015 5:54 PM
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dwitzel

#1
Fidelity advertises that customers with $25K that does 36 trades per 12 months can use WLP. But when it comes to using the WLP 'auto-trading' forgot it - unless your account size is 7 digits plus, in some rare cases they said with a 6 digit account and many inquisitions (you begging and pleading) than there is a possibility.

Moderated by Eugene: removed inappropriate content and title
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kcbars

#2
I have auto-trading through Fidelity, and had no trouble enrolling. I don't think I even had to talk to anyone. I remember I had a fill out and sign a form, but I think I did it all through the mail (this was maybe 4 years ago). I don't have a 7 digit account size, but at the time had been a Fidelity customer for over 10 years. I would imagine that has a lot to do with it. However, just because I have auto-trading enabled, it doesn't mean I use it all the time. I find I spend most of my time testing strategies during market hours with paper accounts, which I've found to be extremely valuable and a lot less painful. But auto-trading with live accounts does work very well in my experience.
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Dave B.

#3
Could you elaborate on how you use paper trading accounts with WLP at Fidelity?

To my knowledge, Fidelity does not offer paper trading accounts (like IB) for experimentation and learning at the present time.

I've have heard it is coming...
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Eugene

#4
Paper Trading is an inherent feature of Wealth-Lab 6 (both Pro and Developer). More information is available in the User Guide > Orders > Paper Trading.