TD Ameritrade Now Lets You Trade Amazon Alexa Stocks – But Don’t Get Too Excited

Imagine buying or selling stocks with a simple command: “Alexa, buy 10 Apple stocks.” Keep imagining because we are not there yet.

Driving the news: TD Ameritrade said today that it is the first brokerage firm to allow clients to buy stocks using Alexa.

But it’s much more complicated than that: Trading on Alexa is actually a 10 step process (not counting the unique configuration), according to an audio demo heard by Axios.

  • First, you dictate a pre-established security code.
  • Then you specify the symbol or company you want to trade.
  • Once Alexa rereads the ticker, it gives “gut control” with the current price of the stock and how much money you have in your account.
  • You say whether you want to buy at the current price, or at another.
  • If it’s the latter, you provide the alternate price (dollars first, Alexa confirms, then cents) and Alexa confirms, again.
  • Finally, you specify the stocks you want to buy, review and review the order, then repeat the security code. Alexa confirms, and finally your exchange is over.

Harrumph. At the same time, you could call the store or use the TD mobile app.

  • On the rise: Trading stocks with Alexa will be useful for aging populations, people with dexterity issues, or people who just want to buy and sell while multitasking, Sunayna Tuteja, head of emerging technologies at TD Ameritrade, told Axios.
  • A trader, Demond Hicks, who runs the consultancy firm Hicks Holdings, says he’s “interested in the convenience of it all.”
  • Another investor, Jackie Koski, who has an account with TD Ameritrade, also says she plans to try it.

The bottom line: This is a big task for Alexa, who is notorious for hearing verbal signals poorly. Buying stocks through the Home Assistant won’t be a one-step process anytime soon. This is a good thing, because any mistake would be more disastrous than, say, accidentally ordering too many dollhouses.

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