Okay so I have been doing options trading in Fidelity for a bit now and after having more experience and confidence, I wanted to do some same day trades.

WRONG! Can't do it in Fidelity, they require you to have $1M minimum in your investment account to be able to do same day options trades.

So I was told to use Robinhood, because they don't have that silly requirement.

Now it's been almost a month and RH has yet to approve my options trading or reply back to any of my 5 support emails.

I can't win, but basically instead of just being here to bitch i'm after advice. What do I do?

Side note, i've had that RH account since like 2017 just minimal activity through it. Some random stocks here and there. I opened it for a free stock incentive.

TIA

This is unusual on RH

You are limited to 3 same day trades a week , unless you have greater than 25k

Would go through support like you did, it curious what was the specific message you received when you try to do a day trade?

It's Fidelity i'm having the issue with for same day options trade. The message literally is an error and when i look it up Fidelity FAQ section states i need to have $1m minimum to do same day options trades.

RH isn't even approving options trading for me which is frustrating but i've seen how much easier options are on RH and they allow same day trades. I just need them to approve my account but its been like a month nobody has replied to any of my emails.

Dude my 18 year old cousin had options trading approved on robinhood. Must be an algorithm thing with the questions you answered?

I’m going to try this on fidelity on Monday. I don’t have a mill in my accts there

I answered the questions correctly but not my first rodeo with options trading so the answers should have satisfied the algorithm. But I’m not sure what happened and now it’s a battle because they aren’t even replying. Not a huge deal but I have a lot of same day plays I’d like to make and RH can do it. Guess I’ll keep trying.

If you get a brokerage through a brick and mortar type institution their customer service is usually a lot better. The apps aren’t as flashy but you get other perks like better fill priority and also can use brokerage as leverage for low cost loans if/when you need them

I use robinhood to follow prices cuz the app is just so Smooth but all my actual trading is on Wells Fargo

This post was edited by Bazi on Jan 5 2025 09:26am

Webull is another option. I use it for churning the Wheel on SPY for a few thousand a year.

Although robinhood support through the app worked for me in recent history with ~24 hour reply. So I'd try that (rather than emailing directly).

IIRC their options approvals are largely automated, so perhaps something on your account flagged it for manual review? (just a theory). On most platforms i get instantly approved just after filling out their little questionaire. Robinhood was the same.

Try Schwab Think or Swim.

That is what I use.

I'm trying to minimize the amount of apps i use and give me bank account info to lol. Plus multiple logins to remember is annoying.

I use to have Schwab, maybe i'll try to fire up my account again.

FOR SURE it got flagged for manual review, which it seems like nobody was hired in at RH to do lol.

I use webull for options or ibkr I started doing futures trading now also.

This post was edited by Novaboston on Jan 25 2025 05:22pm