Schwab Limit GTC-180 Now

[yogibearbull]

Schwab used to have rather short GTC-60. I was surprised to learn that the new limit orders at Schwab are GTC-180 now (since February 2023 from the link below), but existing/continuing ones may be GTC-60.

I also checked Fido and it also has GTC-180.

advisorservices.schwab.com/whats-new/trading-portfolio-management/trading-research-rebalancing

[Capital]

FYI - I just checked Vanguard. V still only has a 60-day GTC available when placing a trade.

[anitya]

Jul 19, 2023 17:01:25 GMT yogibearbull said:

Schwab used to have rather short GTC-60. I was surprised to learn that the new limit orders at Schwab are GTC-180 now (since February 2023 from the link below), but existing/continuing ones may be GTC-60.

I also checked Fido and it also has GTC-180.

advisorservices.schwab.com/whats-new/trading-portfolio-management/trading-research-rebalancing

yogibearbull,

The order entry changes at Schwab after the acquisition of TD were all copied from TD so the migrated TD customers stick around.  TD was more known for trading stocks and derivates than Schwab was.  Interestingly, TD also copied some stuff from Schwab like not charging transaction fees when selling TF OEFs but TD has not reduced their 180 days requirement to avoid STR fees.

Once the transition is over, I may be able to say the acquisition was good for customers.  Customers' benefit is one of the things TD/Schwab tried to show every time somebody tried to sue them about the acquisition.  There may still be some unresolved law suites re to the acquisition.