Was there a resolution on this? If so, can you make it public because this is an important question. If USAA offers stock market exchanges, why can't we utilize all of the stock market options such as Puts and Calls? At $8+ a transaction, I think it is the least you can do.
Here it is... NOVEMBER 2018...
I was told when I set up my trading account a week or so ago that I could trade options but yet nowhere can I find Options trading in the research or drop-downs. What the person who set up my account lying or is it just really difficult to find. I left Scottrade after it merged with TDAmeritrade...I'd hate to have to take my money to another institution to do this. USAA, for all the good things they have, is still behind in regards to meeting client investment needs. This string was created over 2 years ago and still no action taken.
I've been with USAA for 30 years. They use Fidelity as an integration and are severly limited in what they can and can't do. My advice to you is to absolutely not buy stocks etc with USAA. They don't specialize in this area- use Fidelity. I have numerous examples but suffice it to say that Fidelity's platform, research, etc is far superior to what you can get with USAA. If you plan on doing puts and calls, Fidelity spells it out easily and quickly. I still keep 1 stock and 1 mutual fund with USAA but the majority of my money is with Fidelity. Just being to write a check is one easy example of what you used to be able to do with USAA and cannot do with USAA. Happy to elaborate if you want more info.
Yes and this is too bad. They just updated their investment platform on the app and they didn’t really change anything but the layout. There’s no way to do strategies like spreads so why even have margin accounts available because the trading platform really doesn’t allow you to manage trading options other than simple stuff. I can’t even get Greek information from the site. I have to use other sites to find out stuff like the Deltas on option.
i really like having all monies, insurance, etc all in one place. But might be moving on to another platform.