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TD Ameritrade Complaints & Reviews

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TD Ameritrade / After 10 years of trading, they suddenly closed my account

Ma
marynapiatrova on May 22, 2016
I am a citizen of Belarus. I have account for 10 years. Now TD Ameritrade requested the Letter of Explanation and 8-WBEN form. I submitted them. After a few days, they notify me, that do not like Belarus and closing my account. Do they have a rights to do that ?

TD Ameritrade / Inability to Execute

Re
Reviewer33834 on Aug 28, 2015
Last Friday (8/21) I called to sell off a mutual fund I was holding because the market was going crazy and I viewed it as a sign of what was to come. I wanted cash on hand when things went volatile, and called to ensure that my trade went through and that I had cash in hand come Monday morning. Monday morning comes...not only did they not sell my mutual fund, but the Dow is down ~10% upon opening. How does this translate? Not only have I missed the opportunity that I saw coming, but I have lost ~$1000 overnight because of TDA's incompetence. I called to complain and say I want the correction...

TD Ameritrade - Georgia, Omaha / Unilateral action without authority

Gl
Glawson on Feb 14, 2015
What a ridiculous organization! They unilaterally iquidated my holdings without any proper communication. Apparently, this action was driven by a regulatory issue in my home country which after 14 years prohibited me from trading directly through the U.S. trading platform. That is understandable but the absence of communication and the 'too bad ' attitude of the staff represents extremely poor service. Not only were my positions liquidated (almost at their whim) but they made no attempt to consider the knock-on implications of their actions both from a tax and financial perspective...

TD Ameritrade - New York, New York / poor service

Dp
DPO_ on May 28, 2014
1) I scheduled a phone meeting, no one called. One broker (Sean Hanley) later told me that he called my phone and left a message, but there was no message, and no call in my phone log. I think he was simply lying to save face. 2) After transferring my account from UBS, only some of the positions showed a cost basis on my balance & positions page. Very sloppy. I called several times, still not resolved after two months, however they added a few more...just not all. Sloppy work. 3) The branch manager (Joseph Marone) called me because I was having issues, we spoke on the phone. We identified 3 items of...

TD Ameritrade - Illinois, Arlington Heights / Tax filing issues

Sn
Snoopy 1954 on Dec 21, 2012
TD Ameritrade in their infinite wisdom, changed an address for my father for his temporary address in California for four months, and reported the taxes to California. Of course you can't deal with tax companies in California, and Ameritrade did nothing to resolve the error in reporting, the tax bill in 2007 of $300 is now over $700 dollars. Thanks Ameritrade for being incompetent and have absolutely no customer service. We are glad we have pulled all the investment monies out if your firm.

TD Ameritrade / You pay for THEIR mistakes

Td
TDistheworst on Nov 20, 2012
After being an Ameritrade customer for more than 10 years, I was informed that I was no longer acceptable as a client (due to being a resident of either Switzerland or Dubai, apparently). I got 2 different email responses saying that 1) my account would be liquidated and 2) no, my account would not be liquidated but I could sell only, not buy. I asked for clarification and was told both answers were correct (??). I sent emails saying I was transferring my account and not to sell my positions. On Nov 7th, I received an email through the TD email system (Scott De Groote) saying I needed to have my...

TD Ameritrade - Pennsylvania / Screwed up Account

Ig
IGotBurnedAndRippedOff on Dec 29, 2011
Day 3 - TD Ameritrade still holding my money hostage! I transferred into my retirement account and TDA snatched 20% in the process. I complained about their unauthorized taking. They admitted the mistake, and admitted that they had given me bad instructions, but too bad my transfer was treated as a taxable distribution which will cost me a huge chunk of the balance. Complaining, appealing, begging, it doesn't matter, they simply don't care.

TD Ameritrade / Lousy

Sc
Scarf on Sep 25, 2011
I just want to admonish your readers what a terrible experience I have had w/ a new account I opened at TD Ameritrade. Every month, for the past 3 months, I have had to re-set my password and "security questions" because they are repeatedly erased when TD Ameritrade does one of their frequent "software upgrades". The process must be done over the phone. Problem is, TD Ameritrade does not have enough customer service reps to answer the phone during normal market hours. If you want good service, stick with Scottrade, Fidelity or Vanguard. TD Ameritrade is a PITA.

TD Ameritrade / Backed out of Bonds Transaction

Jn
jnu90 on Aug 3, 2011
I bought 80 bonds at what I thought was a very good price on the morning of 7/11/11. Within minutes, my account shows the bonds and their market price. Showing a nice profit, I put them up for sale a few hours later. About 15 minutes after putting them up for sale, my account value plummets by $70K and the bonds are gone. Not sold… gone. I call up and they tell me the original price was a mistake, and backed out of the earlier transaction. Don’t count your chickens even after they hatch with TD Ameritrade. I doubt they’d ever consider backing out of a deal if I was on the losing side.

TD Ameritrade / Cancelling trade two hours later

Xa
Xave Draper on Jul 11, 2011
I bought 80 bonds at what I thought was a very good price on the morning of 7/11/11. Within minutes, my account shows the bonds and their market price. Showing a nice profit, I put them up for sale a few hours later. About 15 minutes after putting them up for sale, my account value plummets by $70K and the bonds are gone. Not sold... gone. I call up and they tell me the original price was a mistake, and backed out of the earlier transaction. Don't count your chickens even after they hatch with TD Ameritrade. I doubt they'd ever consider backing out of a deal if I was on the losing side.

TD Ameritrade / Fraudulent, unscrupulous, extremely unethical

Fr
Fraudbuster on May 25, 2011
Every investor MUST check out www.FINRA.org and click on BROKER CHECK to find out what this fraudulent, unscrupulous, and extremely unethical TD Ameritrade (and its option branch THINK OR SWIM)did to their customers in the past. Numerous frauds/misconducts committed by this damn broker are listed there. Do not become a victim of this evil broker. We must make this evil broker go out of business to make a better society so that naive, unsuspecting, good people can invest with peace of mind.

TD Ameritrade - California / Freezing Funds without Warning

La
As a new client I moved $4500 electronically from my bank into my TD Ameritrade account - the money has left my bank and has been recognized as being in my TD Ameritrade account. I went to do a trade and was told that since I electronically transfered the funds they will not be available to me for 3 business days. Nice SCAM - they collect interest on my money for 3 days - doesn't sound like much but my guess is that it adds up to a huge profit for them with all the investors they lure into their scheme. Clearly my own fault - should have gone with a real brokerage firm with local offices to...

TD Ameritrade / TD Ameritrade Defrauds Investor

TD Ameritrade's ThinkorSwim traders engaged in Unauthorized Trading in a customer's account and wiped out his entire retirement portfolio. When probed by FINRA, TD Ameritrade's lawyers (whose client list includes Bernard Madoff associates) lied to FINRA investigators and committed fraud in arbitration in order to conceal their wrongdoing and get the investor's claims dismissed. The case is now going to court.

TD Ameritrade / It was several years ago now that TD Ameritrade stole $1200 from me

Ra
It was several years ago now that TD Ameritrade stole $1200 from me. They did it legally (technically). I had shares of IVAX which was being taken over by TEVA in a stock and cash merger. TD Ameritrade contacted me asking me to send my request by mail as to whether I wanted stock or cash. I requested the TEVA stock as it was worth much more than the cash offer. A couple weeks later TD cashed my out of my IVAX stock claiming they didn't receive any communication from me. Now they didn't make any further attempt to call, email, or otherwise contact me. They just paid me off in cash for...

TD Ameritrade / Theft of $15,000

Ll
On 1/16/09 TDA confirmed in writing multiple times that I shorted UDR at $25/share and assigned it Transaction # XXXXXXXXXXX and CUSIP #XXXXXXXXX. $19, 979.89 was credited to my account. On 3/17 at 09:39:01 I bought 800 shares of UDR at $7.40 to cover my position. Transaction #XXXXXXXXXXX and the same CUSIP Number proved that these were the same shares I had shorted. $5, 929.95 was deducted from my account. TDA provided multiple confirmations that my cover of the short was executed. On 3/28, two months after the exercise of the option, I was told by a TDA manager that these profitable trade...

TD Ameritrade / Unauthorized charges

Ba
TD Ameritrade charges EXTRA fess on sell trades! THEY ADVERTISE " STRIGHT FORWARD PRICING $9.99 PER TRADE, NO HIDDEN FEES!" These guys hide these fees, the only place you can find them is to go into reports, pull up your cost basis for any sale trade and you will see this charges in the far right hand column, the column header even states "FEE" CAN YOU SAY DECEPTIVE ADVERTISING!

TD Ameritrade / Terrible experience

Va
I opened a individual cash account with TD Ameritrade on September 5th, 2008. I agreed to have TD Ameritrade withdraw $10, 000 out of my savings account. I completed everything in the TD Ameritrade account and made a transaction to purchase stock the same day. The order was filled on September 5th. On September 10, 2008 I received a phone call stating that TD Ameritrade had take it upon themselves to sell my stock. I was told it was due to insufficient funds. The account number that I gave them was correct however the money was in my money market account instead of my savings. My bank made a...
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