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4.4 531 Reviews

TD Ameritrade Complaints Summary

17 Resolved
80 Unresolved
Our verdict: With TD Ameritrade's very poor resolution rate, careful consideration is needed. Research their service comprehensively, and read up on how they handle customer disputes. If you face issues, be prepared for potential challenges in obtaining resolutions and explore other service providers as backups.
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Newest TD Ameritrade reviews & complaints

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11:16 am EST
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TD Ameritrade tax filing issues

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.

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4:24 am EST
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TD Ameritrade shutting down trades

I have had trading accounts with both TD Ameritrade and Thinkorswim for over 3 years. In November, I opened my accounts to find all my existing stocks and options sold. Thinking it was a security breach, I contacted customer service for both accounts. I was told TD Ameritrade made a business decision not to deal with customers in my countries anymore (I have residency in two countries). So they arbitrarily reached into my account (after the election drop) and sold everything, including options two months away from expiration!

I contacted the SEC and they said they would send my complaint to TD Ameritrade but I would need to seek legal redress if I wanted to pursue the matter. This was to be expected as the SEC has shown over and over it will not regulate or prevent fraud in the markets. Neither company contacted me about their intention to close my accounts. They claim to have sent me an email but they did not and seeing as this is a rather serious matter, there should have been some kind of due process. After MF Global’s theft of customer money, HSBC laundering money for crooks, and a myriad of other crimes and misdemeanors in the financial services industry, I would strongly urge you to take quick action to protect your money.

TD Ameritrade absolutely cannot be trusted. They will do what they want with your account at a moment’s notice. It really does seem as though hard assets (gold, silver, property, and the means to protect them) is the prudent course of action. I’ve repatriated what money I have left and will no longer be dealing with the financial services sector. This may lead to a class action suit in normal circumstances but none of the public institutions can be trusted anymore. Don’t wait until something happens to your money before you wake up!

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12:50 pm EST
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TD Ameritrade you pay for their mistakes

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 broker, Saxobank, get in touch with TD Ameritrade before the 12th. That shows that TD Ameritrade was already aware I was in the process of transferring my account.

On Nov 8th, Saxobank did so. According to Mark Bell (TD Ameritrade)’s statement on 17 Nov, there was a miscommunication between the 2 banks and that they did not receive the “proper” paperwork. However, TD Ameritrade did not inform me of this problem, did not say the liquidation would go ahead and did not offer me a chance to liquidate on my own.

Actually, on the 17th, I got an email saying that my paperwork was received, but that it was too late, that my account had already been liquidated and a check had been sent out to me. None of that was true, as the account still had my shares and cash. I asked for clarification, but did not get an answer.

I went to put in a stoploss order at USD 20.2 and was rejected by the system. I attempted to put a market order in, and was rejected again. At no point had I been told I would lose the ability to sell out my position.

I called and went through 2 people before ending up with supervisor Allison Fitzgibbons. She checked with various people over the course of 50 minutes, checked my attempts to sell and came back saying that my order would be accepted at USD 20.2. She said that we needed to do a market order at the current price and then have the sell price adjusted to USD 20.2. However, the system rejected her. She went to check with various people again, and came back saying it was my fault that the account had not been transferred and that the USD 20.2 sell price would not be honored. I asked to speak with her supervisor Josh Nelson, and left a message (no answer). Then I called back and spoke with Mark Bell, who said it was my fault/Saxobank’s fault and that I would have to carry the loss myself and I had no control over when my shares would be sold. I then left a message for Rachael Emery and was informed that Kyle Braden would get in touch with me. I got a call at 1:30am (my time) saying someone would contact me before the market open. No one did.

On Nov 19th, I called and spoke to William Walker (supervisor), who informed that the account still had the positions (now a loss of 26, 000) and that the account said “sell orders only”. I have also apparently been blocked entirely from my account now. William Walker said he would call me back once he had a chance to read this document. He did not. Rachel Emery (senior manager) also did not return my calls. I was told by Dennis Lassaline (manager) that I would be contacted by 2pm. I was not.

As a result of TD Ameritrade reneging on the trade, a USD 4600 loss was incurred on Friday, which is now up to USD 26, 000 (growing daily). I am blocked out of the account and TD Ameritrade ignores me and the account. I have called long distance probably 20 times and get nothing but evasions.

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Faisal UAE
, AE
Jul 15, 2013 12:19 pm EDT

I am a foreign individual from Dubai, UAE. Had a long term investment in SANM through ameritrade for almost 8 years which I check from time to time. As the stocks rised in 2013 I checked my account and was surprised to see my account had been liquidated in late 2012 by ameritrade and without notice! Their response is my country is not in list of countries they want to do business with. Sure, but since when a broker decides when to pull out my investment? Luckily I am not near retirement age but I wish I could sue them.

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7:15 pm EST
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TD Ameritrade screwed up account

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.

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8:52 pm EDT

TD Ameritrade lousy

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.

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11:35 am EDT

TD Ameritrade backed out of bonds transaction

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.

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4:49 pm EDT
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TD Ameritrade cancelling trade two hours later

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.

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6:27 pm EDT

TD Ameritrade fraudulent, unscrupulous, extremely unethical

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.

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5:12 pm EST
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TD Ameritrade freezing funds without warning

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 get face to face customer service. These guys are available 24 x 7 - but all the reps can tell you is "sorry I can't help you except to say those are the rules". Do yourself a favor and walk into a Charles Schwab office and get honest upfront service.

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6:29 am EST
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TD Ameritrade took $19.99 for 1 year visa card

On this day this american greeting ecards took all my visa card information, and charged me $19.95 for not even see a card. made a confirmation no# but, kept making excuse that adobe had to be plugged in to even to make birthday card. then adobe 10.1 jumped on the site. I want my money put back in my account because I will get an attorney. this adobe 10.1 is trying to also attempting to offer a free trial but wants me to pay for the adobe which is $39.95 for a month. So they keep telling something went wrong with connection. Then my dial-up network turns themselves off. There are three(3) parties involved. For almost a month I have been trying to get hooked up the adobe so I can see my Ministry/my Church. I believe there are more involved too.

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Update by Loretta J. Patterson
Dec 19, 2010 7:03 am EST

The treatment I recieved from these trickster, were criminal because there was 2-4 sites or groups attacking me and the safety of my pc. You cannot JUST slap their hands. This was not a joke. There was theft, conspiracy, and scamming, and unsafe practices of my computer. I personally want some one to take full responsibilty. I want to be compensated for: I want adobe feature put. I want all the corrections made to screen, and want my money put back in my account. Harassment for over one whole month. This will take effect today. Besides all this I request ga copy of everything sent to me. They might have damaged my printer/scanner too. American Greeting card

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6:37 am EST
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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.

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Steve11112222
, US
Sep 27, 2017 10:05 pm EDT
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Beat this Ameritrade scam pulled on me.

Just found out Ameritrade literally just made over $23, 000 vanish from my account with no trades. I was building up cash for over a year, deposits totaling $47, 400. They basically didnt place the money in my account or made the account realize $35, 000 of false debits. Just started working with an accountant and authorities as of today. When i called them the person i talked to said his name was Matt Ryan and he was going out of town for the next 3 weeks.

Account balance should be around $70k but is $48k and with really no trades! They just took the money by both not making the deposits or instead of depositing the money they would debit it from the account so if i deposited $1000 they would debit $1000 and steal $2000 from me.

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Sitalces
Valencia, US
Jul 23, 2011 6:13 am EDT

I have followed Ameritrade's tricks for a decade and can tell you this. It is a common occurrence that your funds at closing and next day opening differ, sometimes by thousands of $. If you request them to give you a figure from previous day closing they tell you they do not know. Instead they provide you with what they call back tracing on the account which makes sense to nobody. Another trick is to pretend to transfer money back and forth from cash and money-market. It is impossible to understand what they are doing. Furthermore, if you change your account number for any reason, dividends continue to accumulate in the old account, but they never tell you that. You must insist to open the old account for them to allow you to see it. Ameritrade never admits they are wrong or apologize. Their attorneys find ways around SEC rules and they never get penalized. To take them to court would be a waste of money because they do not even make available the so called recorded conversations.

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Fraudulent broker watch dog
, US
Mar 17, 2011 7:46 pm EDT

TD Ameritrade is a fraudulent, unscrupulous, extremely unethical broker. Every investor MUST check out www.brokercheck.finra.com. Numerous frauds commited by this broker are listed there. I sincerely hope this damned broker to go out of business ASAP so that unsuspecting, good people can invest with peace of mind.

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9:07 am EDT
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TD Ameritrade trading

BUYER BEWARE AS YOU GET WHAT YOU PAY FOR!

Stay away from Sctottrade as their computer/technology can tremendously offset their cheap $7 trades(you do get what you pay for).

I made a trade end of day that Scottrade lied and told me was made after the market closed and was sold for a $1000+ loss! It is bad enough for Scottrade's latency to cost you $1000+ but to have their Comppliance Dept either outright lie and say you made the trade after hours or for them to be misled by their obvious lack of technological investment is unacceptable. When I make a $30, 000 trade...I DO BELIEVE I KNOW WHEN THE TRADE WAS ENTERED!

Stay away from Scottrade or you will lose ALOT more than the meager savings due to those $7 trades.

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scott.deegan
, US
Jun 16, 2012 1:18 pm EDT

Scottrade and Options First is a joke. They have had several glitches as they call them. They are constantly wrong and most times have a zero balance in my account and on more than one occasion they have refused my trade saying I don't have enough to cover the buy, when I did, and than by the time they fix the glitch the price has gone to far away to get it at a reasonable bid/ask. They will also tell you that they are researching the problem than you wont here from them unless you chase them down.

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Stay Balanced
Palm Beach, US
Dec 25, 2010 7:00 pm EST
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Did you print out a confirm showing the time of your trade? Why not? Why are you waiting until the end of trading to make a 30K trade? (Market timing, live by the sword and die by the sword.) How do you know it wasn't your internet provider fault? or your phone line? Don't wait next time and get your trade in early to avoid problems. Stay away from Full Service firms too! They will turn away that kind of business. Good luck.

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7:35 am EDT

TD Ameritrade it was several years ago now that td ameritrade stole $1200 from me

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 my IVAX shares resulting in my losing approx. $1200 on the transaction and having to pay tax on the gain. Now you and I both know they paid me off in cash and requested the stock from TEVA and kept it for sale themselves resulting in a gain of $1200 for themselves. I complained to the SEC, TD Ameritrade, WSDFA, FTC, and others to no avail. A very nice lady from the Federal Trade Commission was the only one who tried to help. TD snubbed their noses at her too. Watch out for these TD Ameritrade crooks!

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SKK
Bridgewater, US
Jun 28, 2010 8:22 am EDT
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I completely agree with your comment. TD ameritrade has started employing crooks now. I will soon be closing my account with them but currently they have people like Daniel Pilmaier, Senior Research Analyst, Office of the President who think they know everything but they don't even have clue on how some of their software works. In month of June there was issues with their quotes and quotes shown was wrong in trading software like Command center and I complained about it, I got reply from Office of President (person name: Daniel) that there was some error for which my suggestion was to bring down the software immd. as soon as you come to know about error rather letting people trade on the basis of wrong quotes, his reply to this was though we know there is error in quotes we can not take away functionality from customer for trading...what the hell is he talking about. He is making statement on the behalf of TD (have emails) that its OK to show wrong quotes and let customer trade on the basis of wrong quotes and make losses ...is he out of his mind and when I asked to get this matter reviewed by his supervisor, there was no result.

TD ameritrade in my views have lost value now, soon this will be one of the companies who just disappears from market as this kind of errors are becoming quite common with TD and people like Daniel Pilmaier are supporting these error, either TD need to close or person like Daniel Need to be out of TD...

Sandeep

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3:32 pm EST
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TD Ameritrade missing $

there seems to be money missing from my account at Scottrade. this may have happened more than once in the past year. when i brought this to their attention, so maybe we could try to figure out what had occurred, they essentially informed me that this was impossible. when i persisted, they informed me that my account would be closed, not allowing me to trade, essentially freezing the account. the reason " they could not provide the level of service i needed". thanks Scottrade.

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Jack8London
El Paso, US
Mar 10, 2010 10:08 pm EST

They do have a very difficult time dealing with people who trade actively. I don remember there was a disconnect between the timing on sales, gainskeeper, balances etc. They also have problem with elite. There is an option on a pull down to refresh the screen. This will correct errors they create in real time. What good is a real time screen if it is so poor in performance they they provide a pull down to correct there problems.

They are not there problems, because they don't care.

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1:06 pm EDT
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TD Ameritrade theft of $15,000

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 trades were going to be reversed.

The President's office has repeatedly denied my requests for the money to be replaced in my account.

I have reported them to the Better Business Bureau and on their recommendation to the SEC and the Maryland Attorney General who are investigating the case.

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Usa Jams
, DK
Dec 17, 2009 8:31 am EST

I LOVE TD Ameritrade and to be honest am shocked to hear about this. This is my first experience and I am stunned to hear that this matter is being investigated. They have been very friendly with me and I do not know how this could have happened. I hope that your problem gets resolved soon.
Thank you

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6:37 pm EDT
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TD Ameritrade unauthorized charges

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!

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Usa Jams
, DK
Dec 17, 2009 8:28 am EST

I strongly disagree with what you are saying. I have been with TD Ameritrade since the days it was called DATEK and I have to tell you that they ABSOLUTELY DO NOT TAKE A CENT MORE than $9.99 which is on their website. I can also guarantee you as I hold an account with them, that if you contact there services they will be extremely helpful. I have never ONCE in my life had a problem with them. And believe me I am one of the oldest costumers that they have had
Thank you

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6:50 pm EDT
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TD Ameritrade scam charges

This brokerage actually took from my account twice the amount that was due after a short trade dividend repayment. Not only that I have missed so many opportunities on their live trading platform. It's quite ridiculous and it's happened right after the branch have a new manager. I estimate I could have lost up to a thousand dollar due to their crazy Java software. I even experiment trapping the stocks to four orders in a 10 cents range and it stand still in that range for hour. This is one of the top volume stock traded of the day. I think they are scandalous and I will take my business elsewhere.

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csharp1314
San Francisco, US
Feb 08, 2010 1:31 am EST

SCOTTRADE IS A SCAMMER, NO OTHER BROKER CHARGE FEES LIKE THEY DO, THEY CHARGE YOU 1% PRINCIPLE TO BUY AND SELL PENNY STOCK.
EXAMPLE, YOU BUY PENNY STOCKS WITH 100K, HALF % TO BUY HALF % TO SELL, SO THEY CHARGE YOU $1, 000 IN FEES + $14 ($7+$7), NO OTHER BROKER DOES THAT, THEY ARE SHADY AS HELL.
10K INVESTMENT = $100 + $14 ($7+$7), THEY ARE NOT SATISFIED WITH JUST THE $7 FEE, ALOT OF PEOPLE BUY PENNY STOCKS OR STOCKS UNDER $1, SCOTTRADE CHARGE YOU FEES LIKE NO OTHERS.

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mcmcl
, US
Oct 13, 2009 2:44 am EDT

Numerous Application errors when displaying data, well known by Scottrade Compliance department. Scottrade is working with MicroSoft to resolve application errors. Errors I've seen are erroneous average price data, positions not syncing to account balance detail, quantity of stocks owned displaed in correctly on Positions, both in Elite and Web version. Account balance inaccuracies, showing negative balances when actual is ten's thousands, freeze ups, unable to sync data by reloading data, closing/reopening windows or closing/reopening applications.

Having to SELL all shares to correct average price errors IS LUDICROUS ! IDIOTIC !

Report errors to SEC.

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11:48 am EDT
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TD Ameritrade account errors - money missing!

I have had an $8, 000 plus credit from trading show up as a debit. I had to argue for 1.5 hrs with managing broker before he contacted the tech department. Uncovered the mistake... and apologized.

Today, I am selling and all my stocks are up significantly (5 -27%) and the account shows almost no gains.
The first is bad enough. Please email [protected]@gmail.com if you have similar problems. I want to show cause for some forensic accounting via discovery.

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Chrissr
, US
Dec 01, 2015 9:10 pm EST
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I had a Scottrade manager quote wrong rate and length of time for deposit. Now I'm my account to some one I can trust. Main office has been no help.

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TD Ameritrade no customer service

I went into the TD Ameritrade branch in Pasadena, California to open an account after speaking with one of their staff on the phone the previous day. I'd done this to make sure I'd have everything I needed with me when I went there as it would be tax deadline (April 15) and I'd have less than an hour to complete my business. The person I spoke with on the phone met with me briefly and put me in front of a computer so I could sign up online. I dutifully filled out the forms, but when I got to the final stage of agreeing to their terms, I could not find anyone there who could explain their privacy policy to me (the agreement stated that they had the right to share my information with third parties, in accordance with a privacy policy stated elsewhere and which was incorporated into the agreement by reference). No one could tell me who these third parties were, no one could provide a copy of the referenced policy; the staffer who I thought was taking care of me had disappeared. After waiting around for 15 minutes, I decided to go to another broker, terminated my computer session, and left. I thought that was it, until I received a spam email from them the next day. Obviously terminating my session without signing the agreement had not erased the information I had entered earlier, information including my email address, my SSN and my mother's maiden name, etc. That is still stored in their database. This worries me no end, as I now have no relationship with them and they're not bound by any agreement, as far as I can tell. I'm writing them to tell them to erase my information, also reporting this incident to FINRA, perhaps also the SEC. Can anyone suggest anybody else?

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sirio2222
Liverpool, US
Jan 26, 2013 12:28 am EST
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I would like to warn the potential and current investors (so called "traders") to watch out for margin accounts set up by the ravenous scavengers of "Ameritrade". I set up a trust account for my family in 1997, with 50K, told the "broker" I DO NOT WANT A MARGIN ACCOUNT no less than 5 times. A margin account was set up and they bilked me out of MOST of the money over 5-7 years in their "margin" calls. I called several times to dispute this BS but you can never get anyone there anyways, so I finally was gonna go to e-trade when the market cost me the rest of the money. Rotten so and so's . THERE SHOULD BE A LAWSUIT AGAINST THESE CROOKS!
Penniless and disillusioned in NY

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10:07 am EDT
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TD Ameritrade terrible experience

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 mistake and deposited my money from the transaction I made over the phone, into the money market instead of my savings account as I requested. I explained to three different people at TD Ameritrade this could have all been avoided if they had called me the first day that they had received a notice that there was insufficient funds. I explained to them that I could provide proof that the funds were the account. I was not lying. I understand they don't know me but the money was there. All I expect from them is that they would have given me the courtesy of a simple phone call to inform me of what happened. I would have resolved it right away. Instead, they waited until after their deadline and then they call me up and explain to me that they sold my stock at a loss and now they are saying I owe them $167.42. A simple phone call even the day of the deadline saying we need the funds in by noon would have been acceptable to me. But not for them. There policy is make the transaction and sell the stock without any authorization or notice of any kind and then after they do this, call the customer up and tell them what took place.

I came home today (Thursday Sept 11th) to have a phone call on my answering machine from Ameritrade to return her phone call. I did return her phone call and she Informed me again that I have an unsecured debt and asking me when I was going to send them their money. I informed her that I was not going to. She proceeded to tell me that she noticed I have other accounts with them and that they would take money from those accounts to repay the debt. Not sure here but I think there is some unethical practices going on here.

It is not my intent to blame them for the funds being in the wrong account. As a professional business I would think that they would call there customer to inform them if there were any issues so they can resolve the situation before they take action. Obviously not.

Read full review of TD Ameritrade and 11 comments
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Hamerc
, US
Dec 31, 2022 10:22 pm EST

I took a look at account today December 22nd 2022 and found 116 shares of my AMC was sold without my knowledge. I asked Td Ameritrade was my account hack? I haven't heard from them yet.

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monkeyspit
Randleman, US
Dec 01, 2021 11:01 am EST
Verified customer This comment was posted by a verified customer. Learn more

Took two years to close account, over 150, 000.00. 4 certified letters to customer and president (no) service. Had contacted attorney right before I finally got a local agent to help and it took a month with their inside help. They make you nervious about your money, they act like it's their's. They ignore your requests except when takeing your money, How do they make money handling trades without brokerage fees? They steal it. They stole mine for over two years, My account was shuffled from Scott Trade to TD Amritrade and now
Schabb ownes them but won't tell it. These people hide behind their computers and phones. Just try calling their customer service, I have waited for hours. Never again, don't just be aware run like hell from these people, law suites anyone?

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simpleman1776
, US
Jan 06, 2021 9:10 pm EST

My first trade at TD AMERITRADE is missing 4 dollars.

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Whistle22
, US
Oct 29, 2019 12:56 am EDT

Please if there is a GOD. LEAVETHIS company. Insider alert they will be belly up soon. Pull out all stocks close all accounts. They are stealing money the brokers they hire. People listen I am a whistle blower. I work for them

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DSPIR
Arvada, US
Sep 26, 2012 5:05 am EDT
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First, TD Ameritrade refused a wire transfer to an overseas account. They told me that I had to change my address to reflect my overseas destination. After I changed my address they wired the money but then restricted my account to "liquidate only" status. Now, I cannot "trade" through TD Ameritrade. I can't do anything but withdraw all my money and go to another bank. When I asked they would not produce any written law. They only said this was current "policy." I would like to find a lawyer to sue TD Ameritrade for discrimination against my constitutional rights to invest and my pursuit of happiness. Anybody know of a good lawyer? Contact dspirek@netzero.com

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kb mad in nj
, US
Oct 20, 2010 12:10 pm EDT

I have several millions of dollars invested thru td ameritrade and had an issue where I believe they made a mistake that cost me $5, 000 dollars. When I tried to get to the bottom of it they said it was my mistake which I believe is a lie but asked ok then show me the proof and i will go away and got the run around and never got the proof and was told several conflicting stories. When I asked to talk to the compliance department so i can resolve it I was not given the # so i am now going to make a formal complaint to the sec. These people are not interested in customer service and when you need them for that you will be disappointed. They can make a mistake, tell you its your fault, but never prove it and you just get screwed. Bad company.

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SKK
Bridgewater, US
Jun 28, 2010 8:24 am EDT
Verified customer This comment was posted by a verified customer. Learn more

I completely agree with your comment. TD ameritrade has started employing crooks now. I will soon be closing my account with them but currently they have people like Daniel Pilmaier, Senior Research Analyst, Office of the President who think they know everything but they don't even have clue on how some of their software works. In month of June there was issues with their quotes and quotes shown was wrong in trading software like Command center and I complained about it, I got reply from Office of President (person name: Daniel) that there was some error for which my suggestion was to bring down the software immd. as soon as you come to know about error rather letting people trade on the basis of wrong quotes, his reply to this was though we know there is error in quotes we can not take away functionality from customer for trading...what the hell is he talking about. He is making statement on the behalf of TD (have emails) that its OK to show wrong quotes and let customer trade on the basis of wrong quotes and make losses ...is he out of his mind and when I asked to get this matter reviewed by his supervisor, there was no result.

TD ameritrade in my views have lost value now, soon this will be one of the companies who just disappears from market as this kind of errors are becoming quite common with TD and people like Daniel Pilmaier are supporting these error, either TD need to close or person like Daniel Need to be out of TD...

Sandeep

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llabrie
Owings Mills, US
Feb 27, 2010 4:07 pm EST

Usually they don't allow trades until the account has buying power. Shame on them.

Their phoning is poor. See my complaint.

I'm sure they can move money from another of your accounts, however.

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llabrie
Owings Mills, US
Sep 08, 2009 1:12 pm EDT

I had a similar circumstance where it took a couple months and 3 attempts to get money wired from the #1 rated Italian bank to TDA in 2006. It got misrouted from their intermediary US bank twice despite my verifying the information I had for routing. It amazed me that European banks could get it right but TDA couldn't.

They finally got the money to me but only after hours of my work and much aggravation when they couldn't find the missing money. During this whole time, they refused to talk directly with the Italian bank and made me work as an intermediary. That amazed me also.

TDA has truly horrible customer service.

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Kit
whatever, US
Feb 03, 2009 7:10 pm EST

Alfred -

Your "problem" is with your bank not td ameritrade. your bank messed up your transaction from the start, and as you well know your "mummy" and "daddy" are no long responsible for your money so it's up to you to keep up with your financial affairs. there are thousands of people who would be screaming if that stock went up (you most certainly included) if td ameritrade didn't place that requested trade (which, i'll remind you, was requested by you).

td ameritrade did exactly as you requested (and floated you a loan to boot and your bank completely screwed up the transaction - not td ameritrade. place blame where it belongs... with you for not following up on where your 10, 000 was exactly, and with your bank for not executing it correctly.

Your only recourse is to try and hold your bank responsible for the $167.42 that you owe ameritade but... good luck with that one.

TD Ameritrade Customer Reviews Overview

TD Ameritrade is a brokerage firm that offers a range of investment services. Clients can trade stocks, options, futures, and forex, as well as invest in mutual funds and ETFs. The platform provides educational resources for investors of all levels, including articles, videos, and webcasts. TD Ameritrade also offers retirement planning and guidance, along with portfolio management services. Their tools and platforms are designed to cater to both active traders and long-term investors, with 24/7 customer support available for assistance.

TD Ameritrade In-depth Review

In summary, TD Ameritrade is a well-established online brokerage that offers a wide range of services and investment products, catering to both novice and experienced investors. With a strong emphasis on regulatory compliance and customer support, it stands out as a reliable platform for trading and investing. However, like any service, it has its strengths and potential drawbacks that should be considered before opening an account.

Company Overview

History and Background: TD Ameritrade has a long history in the financial services industry, providing a robust platform for trading and investment. It is known for its user-friendly interface and extensive resources.

Types of Services Offered: The company offers a range of services including stock trading, options, futures, and Forex trading, as well as managed portfolios and retirement planning.

Regulatory Compliance and Licensing: TD Ameritrade is regulated by top-tier financial authorities, ensuring a high level of investor protection and compliance with financial regulations.

Account Options

Types of Accounts Available: Investors can choose from various account types, including individual, joint, retirement, and business accounts.

Minimum Deposit Requirements: There is no minimum deposit to open an account, which makes it accessible for all levels of investors.

Account Opening Process: The process is straightforward and can be completed online, with customer support available if needed.

Trading Platforms and Tools

Desktop and Web Platforms: TD Ameritrade offers both a desktop platform, thinkorswim, and a web-based platform, each with robust tools and features for traders.

Mobile App Usability: The mobile app is highly rated for its functionality and ease of use, allowing traders to manage their accounts on the go.

Research and Analysis Tools: The platform provides comprehensive research tools, including real-time data, analytics, and third-party research.

Educational Resources: A wealth of educational content is available to help users improve their trading skills and knowledge.

Investment Products

Stocks, Bonds, and ETFs: A wide selection of stocks, bonds, and ETFs are available for trading.

Mutual Funds: Investors have access to a vast range of mutual funds.

Options and Futures: The platform supports options and futures trading for more advanced strategies.

Forex and Cryptocurrency Trading: Forex trading is available, but TD Ameritrade does not currently offer cryptocurrency trading.

Fees and Commissions

Trading Fees Structure: TD Ameritrade offers commission-free trading for online stock, ETF, and option trades, with a fee for options contracts.

Account Maintenance Fees: There are no account maintenance fees, which is a significant advantage for users.

Non-Trading Fees: Some non-trading fees may apply, such as for wire transfers or certain account services.

Customer Service and Support

Contact Options: Customer support is available through phone, email, and live chat.

Responsiveness and Quality of Support: The support team is generally responsive and knowledgeable, providing quality assistance to users.

Customer Service Hours: Customer service is available 24/7, which is convenient for traders in different time zones.

User Experience

Website Navigation and Accessibility: The website is well-designed, making navigation and accessibility straightforward for users.

Ease of Use of Trading Platforms: Both the desktop and web platforms are intuitive and user-friendly.

Mobile App Functionality: The mobile app is highly functional, offering a seamless trading experience on mobile devices.

Educational Content and Resources

Availability of Educational Material: TD Ameritrade provides an extensive library of educational materials, including articles, videos, and webcasts.

Quality of Educational Content: The content is of high quality, suitable for both beginners and experienced traders.

Webinars, Courses, and Workshops: The platform offers regular webinars, courses, and workshops to help users expand their trading knowledge.

Security and Protection

Account Security Measures: Strong security measures are in place, including two-factor authentication and advanced encryption technology.

Asset Protection Guarantees: Clients' assets are protected under the Securities Investor Protection Corporation (SIPC).

User Privacy Policies: TD Ameritrade has a clear privacy policy that outlines the protection of user data.

Promotions and Bonuses

Current Promotional Offers: The company occasionally offers promotions for new accounts or certain trading activities.

Bonus Terms and Conditions: Any bonuses or promotions are subject to specific terms and conditions, which users should review.

Loyalty Programs: There are no specific loyalty programs mentioned on the TD Ameritrade website.

User Reviews and Testimonials

Customer Satisfaction Ratings: TD Ameritrade generally receives high customer satisfaction ratings for its services and platform.

Positive and Negative Feedback: Users often praise the research tools and customer service, while some express concerns over the lack of cryptocurrency trading.

Comparison to Competitors: Compared to competitors, TD Ameritrade is considered to have one of the best trading platforms and educational resources.

Withdrawal and Funding

Deposit Methods: Various deposit methods are available, including electronic bank transfers and wire transfers.

Withdrawal Speed and Options: Withdrawals are processed in a timely manner, with several options available for users.

Funding Account Security: The security of funds is a top priority, with robust measures in place to protect users' money.

International Reach

Availability of Services Worldwide: TD Ameritrade offers services to clients in many countries, but not all services are available in every location.

Multi-Language Support: The platform provides support in multiple languages, accommodating a diverse client base.

Currency Conversion and International Fees: Currency conversion rates and international fees should be considered by users trading in different currencies.

Pros and Cons

Summary of Key Strengths: TD Ameritrade's strengths include its comprehensive trading platforms, extensive educational resources, and strong regulatory compliance.

Potential Drawbacks: The lack of cryptocurrency trading and some non-trading fees could be seen as drawbacks for certain users.

Final Verdict

Overall Impressions: TD Ameritrade is a solid choice for investors looking for a reliable and comprehensive online brokerage.

Recommendations for Specific Types of Investors/Users: It is particularly well-suited for those who value educational resources and a robust trading platform.

Conclusion and Rating: Overall, TD Ameritrade receives a high rating for its services, though the final decision should be based on individual investment needs and preferences.

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