TD Ameritrade
reviews and complaints

SHANETTA DAVIS. SSN [protected]
Someone has made my TD account locked without notifying me changed all my pass codes to login portal has been blocked for no reason and no represetative/ones telling me why. I have legal rights to know about my money ive waited for answers just got disrespected told to call back every day. Somethings wrong...reply thanks Davis.
Filed 906pm [protected] call back via email above.

I closed out my brokerage account nearly 3 weeks ago at the local t.d. branch due to terrible customer service. they promised me to mail me a check the next mid-week. the check has still not arrived 90k, and neither the branch or the home office will talk to me on the phone about. a medical problem prevents me from driving across town. and I need the money

I wrote TD Ameritrade a check for $20, 000. They then cashed my check and then only deposited $20 in my TD account. Naturally upset, I called them immediately and their only resolution was just push me aside, give me a "case number" and told me to wait 48 hours for someone to contact me back. Excuse me, you just deposited a $20, 000 check from me and royally screwed up, and didn't want to do anything to help me out during the call. At the time of typing this, I have still yet to hear from TD Ameritrade about my missing $19, 980.

I inherited an estate but unfortunately a sizable amount of the estate is in a scott trade account. I hired a cpa and an attorney to help settle this estate. Scott trade was very difficult to deal with. We believed the account had been put in my name in june, 2027. No statements. Decided to transfer the contents of that account to another brokerage. Scott trade claims they never got any documentation from my cpa. Nobody is getting any statements. I am not allowed to know if they even have the account though I gave them many identifying numbers, etc. Called back to speak with a supervisor who said they cannot find any of the documentation we sent. They suggested going to the branch office which is 300 miles away. Even if we re-send the documentation they seem to have lost it will be weeks or months before my name can be put on the account which is necessary to get my money out of their hands.~scott trade has a significant amount of my inheritance and I believe I will never get it. I have read many complaints against them and it seems they charge a monthly fee. I have no access to my money but I suppose they are collecting their fees.~my overall impression is that no one there cares about anything. Nobody seems interested in tracking down the information they lost. To the best of my knowledge they have not followed through to contact my cpa.~in my opinion, it is impossible for heirs to get money out of scott trade if someone dies. I plan to sue but I assume they will call in a summary judgement from scottsdale.~so much for their cute ads about how roger riney always went the extra bit, even as a child... So as an adult he wanted to make an extra fine and cheap brokerage to serve people, blah, blah... You get what you pay for. Except in my case I have hired professionals to jump through scott trade's hoops and they lost our information so now it will cost me more one way or another and scott trade will, I assume, be collecting their fees no matter how many months it takes to put my name on the account.~oh, I paid estate taxes on the amount of money I am not allowed to have! Pretty soon the irs will expect income tax on whatever was earned that I am neither allowed to have nor to have knowledge of. I am disgusted and totally beaten.

Ameritrade has over a period of 3 years managed to overcharge me when closing trade with the excuse that market makers will not me pay more for the option. In order to close the trade I have to pay ameritrade the natural price because they refuse to even execute my closing order unless I pay what they demand to close the position. Additionally, several times they have exercise unauthorized trades on my account. When I have called to ask for an explanation they tell me it was a corporate action and they can't do anything. The client service desk is unwilling to close the trades at the mid point for me and they keep demanding that I pay what they call a natural price. Additionally, Ameritrade does not display bid and ask price on executed trades. They only display what they call mid and natural price, while all other brokers are displaying bid, last, and ask allowing the customer to make a choice as to where they close their trades. This brokerage firm is very dishonest and set up in favor of the market makers and has no interest in helping their investors. Instead they have a high interest in making sure the investor pays the max they can in trades so that the market makers keep more money from ameritrade's investors. To me this company is rigged in favor of market makers.
Why doesn't ameritrade care to help their investors? Why are they taken advantage of their investors? I believe this company needs to be sued for appropriating money from the investors to pocket the money calling it market makers.

In Nov of 2015 I opened my TD Ameritrade account and am relatively new to online investing. I put $100, 000 in the account and bought a stock. I complained that I thought I had purchased 2500 shares of a stock only to find out that it only gave me 250 shares. I complained and had someone tell me why it happened which was acceptable to me after I understood. I simply decided not to invest any more money but left the balance in my account. Today I tried to get into my account to look at it and they had closed my account and said that they sent me a check 6 months ago. I never got the check and they never notified me about closing my account. No letters, no phone call, no email. Nothing. Why didn't they try to contact me when thier check didn't clear? This company is the worst. They are sending my the balance in my account and I am going to go out of my way to share my story because this company is terrible.

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 ?

In 2013, my Scottrade Brokerage and Scottrade Bank account was hacked. Somebody accessed my account and initiated over $800, 000 of ACH transfers which were then used to trade stocks at enormous losses, essentially buying stocks in my account at a premium while another account was selling them. Long story short, Scottrade refused to acknowledge the fraud and blamed me responsible, as a result of Scottrade's failures I conducted research into Scottrade's security systems and subsequently warned them in the Summer of 2013 about the database vulnerabilities that Scottrade recently acknowledged after two years of doing nothing. Bottom line, Scottrade's management has death ears when it comes to hearing customers complaints and suggestions - and as a result 4.6+ Million customers are now at risk of identity theft and fraud. If you are curious about the complaints against Scottrade and want proof that Scottrade was informed of their security failures please feel free to Google "MuckRock Scottrade" or submit Freedom Of Information Act requests to the SEC requesting all complaints against Scottrade. My 2 cents, steer clear of this company and its employees.

On behalf of the 4.6 Million+ customers who had their personal information exposed as a result of vulnerabilities within Scottrade's security systems, I kindly would like to inquire: Why did Scottrade ignore the following warnings about inadequate security systems? The various police/tracking numbers include: IC3 Complaint: I1503310356076471 IC3 Complaint: I1410280301161741 IC3 Complaint: I1410040334523951 IC3 Complaint: I1403202057474651 IC3 Complaint: I1403201605239341 IC3 Complaint: I1402231834161882 IC3 Complaint: I1402231658074692 IC3 Complaint: I1402212345014751 IC3 Complaint: I1402130107359512 IC3 Complaint: I1311042242529162 IC3 Complaint: I1308121624102831 CFPB- CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] CFPB Case number: [protected] OCC Case Numbers- [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected], [protected] Scottrade's failure to appropriately investigate the above referenced complaints and law enforcement reports lead to the exposure of personal information of million of customers.

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 of the proposed trade on Friday to try and recoup my $1000, and they tell me they can do that after listening to the calls, but that it might take a couple of days due to the market craziness...

Fast forward to Friday...I look into my account fully expecting the cash to be in my account. What do I find? They didn't sell the mutual fund that I had asked to sell. They PURCHASED a different mutual fund with a similar ticker at the amount that I was trying to sell for. So, not only do I not have the cash, missed the opportunity, but I now have a negative balance in my account because they forced a purchase of a different mutual fund when I didn't have the cash in my account.

I called to complain on Friday(Today) and I spoke with a manager to get it straightened out and ask what he planned to do about the situation. He didn't seem to care that they have a bunch of incompetent button pushers working there, and he didn't seem to care that I was stressed out and pissed off to a level I didn't know existed. He told me that he couldn't compensate on hypothetical's, and that me missing out on the opportunity this week was my bad. He offered to toss 10 free trades my way to make up for the fact that these dipsticks don't know the difference between buy & sell. I won't be doing business with these guys anymore, and I will strongly urge anyone doing financial management to stay far away. Fortunately, I have a nice forum of public speaking at conferences nationwide where I speak to financial economics. I will be telling this little anecdote to hundreds of thousands of people over the next year or so.

I've been a long term customer for about 20 years. My first problem started with the merger of Ameritrade and TD Waterhouse in which idle cash was shifted into the lowest earning sweep account despite an agreement on a specific investment vehicle. After complaining to the SEC, they reimbursed me for the lost interest.
Since then, it's been escalating problems, first with their defunct Command Center 2.0 and more recently with Trade Architect. Their response was either "we're not perfect and we do encounter problems", or more aggressively, "switch to Think or Swim". The latter is for advanced traders with an interest in more esoteric investments such as option trading. Both of these responses are an unprofessional reaction to trading problems and an unwillingness to acknowledge the issues and take responsibility to resolve them.
I also had problems with trading with their Interactive Voice Recognition system which enables phone trades.
Although the Customer Support representatives were generally very courteous and professional, many weren't properly trained. Escalating complaints to the Office of the President (Executive Support) which can be reached at [protected], received more direct attention. This is probably the best area to voice your concerns. NOTE: Customer Support will not transfer you there or provide this number.
Aside from trading issues such as some trades in actively traded common stocks not updating in real time for a long period of time, daily high and low values by symbols often out of sync with real time activity, gain and loss by holding being wrong, the cost data for symbols being wrong for unknown reasons, etc. These are serious issues since there are tax ramifications which might get distorted in the process (i.e. Wash Sales Transactions).
A big pet peeve which I understand is complained about often ~ NO current day closing prices by stock symbols on the platform until 8pm EST (by default), made it difficult to understand your change in Account Value for the day. Your Account Value, which is frozen after the last trades at 4pm, is essentially the difference between prior day and current day closing prices for all your holdings, plus adjustments such as dividends or margin interest, etc. This is bizarre since the GAIN/LOSS for each holding would change in real time in post market trading. Without knowing the closing price for those symbols, you can't easily reconcile how your Account Value changed at 4pm.
GOOD ADVICE: If you complain to the SEC, make sure your complaint underscores that you want the issues in your complaint addressed adequately or you will rebut the complaint until it does. The SEC tries to do it's job but has limited resources and is not your lawyer. YOU HAVE TO TAKE CONTROL!

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. Lawsuit pending but I would recommend being very careful before you start any business dealings with TD Ameritrade. C- on all fronts!

I started trading commodities in my tdameritrade accouunt. I did not expect them to be be a crack commodity broker, given that they are a stock house, but they are horrible. They will not allow you access to your open trade credit for either withdrawl or additional positions, without a one day lag...yes that is right, they freeze your open trade equity for an entire day! They treat commodity settlements like stock settlements. This can result in all sorts of disasters as a traders. This flaw can freeze you out of spreading off an open position and the issuance of margin calls, despite having more than enough equity in your account. Good luck moving the money out of your account, it took 3 days and hours on the phone to get my money out of there.

It is obvious that no one at the firm has ANY experience trading commodities, their futures "experts" are arrogant, ignorant, and obviously have no idea how professional commodity brokers operate.

Run away, their policies will hurt you some day.

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 concern he said he would look into. Later that afternoon, he sent me an email telling me how he took care of ONE item, and wrote "if there is anything else I can do for you, let me know." Apparently, he forgot about the other two items of concern.

Trading using Trade Architect has been plagued with a lot of technical problems that should avoided by a brokerage of TD's stature. Real time activity is compromised by this trading platform's data that is often not updated quickly which creates real problems. Depending upon who you talk to, you'll get all kinds of answers, excuses, apologies which might be sincere but are window dressing. However, I have received the best immediate action by talking with their Executive Support group which is also known as the Office of the President and can be reached at [protected]. So, if you've had any frustrating experiences, bypass regular Customer Support and speak with the highest level of support at their Nebraska corporate phone number.

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.

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!

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.