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Complaints & Reviews

TD Ameritrade — after 10 years of trading, they suddenly closed my account

I am a citizen of Belarus. I have account for 10 years. Now TD Ameritrade requested the Letter of Explanation...

Scottradebrokerage

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.

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    Scottradecybersecurity failures

    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.

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      TD Ameritradeinability to execute

      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.

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        • Bp
          B. Parker Jul 14, 2018

          The same thing happen to me except they changed my sell to a buy. This has happen to me twice costing me money each time.I don't think it's a mistake.

          0 Votes

        TD Ameritrade- Trade Architect Platform — constant trading problems

        I've been a long term customer for about 20 years. My first problem started with the merger of...

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        TD Ameritradeunilateral action without authority

        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!

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          • Lu
            lucrik Sep 02, 2011
            This comment was posted by
            a verified customer
            Verified customer

            TD Ameritrade promised they would take care of me, but so far they have not lived up to expectations. I have given td ameritrade my confidence and my money, but they keep ignoring me. I hope that they learn how to treat their customers before they go broke! Thanks for nothing TD!

            0 Votes
          • Xt
            XTRADER Oct 26, 2011
            This comment was posted by
            a verified customer
            Verified customer

            I trade with Td Ameritrade . I tried to cancel an order and the cancel order button would not work. I lost $20000.00. I asked them for some help due to the issue that was beyond my control and it fell on deaf ears. Be cautious with this company. Very Unhappy Customer!!

            0 Votes

          The complaint has been investigated and
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          Resolved
          Tdameritradefutures brokerage

          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.

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            TD Ameritrade — poor service

            1) I scheduled a phone meeting, no one called. One broker (Sean Hanley) later told me that he called my phone...

            The complaint has been investigated and
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            Resolved
            TD Ameritrade On-Line Brokerson-line trading experience

            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.

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              The complaint has been investigated and
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              TD Ameritradetax 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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                Td Ameritrade / Thinkorswimshutting 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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                  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 a...

                  TD Ameritradescrewed 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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                    TD Ameritradelousy

                    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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                      TD Ameritradebacked 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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                        TD Ameritradecancelling 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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                          TD Ameritradefraudulent, 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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                            The complaint has been investigated and
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                            Resolved
                            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...

                            The complaint has been investigated and
                            resolved to the customer's satisfaction
                            Resolved
                            scottrade/american greetng cardstook $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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                              • Lo
                                Loretta J. Patterson Dec 19, 2010

                                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

                                0 Votes

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                              Resolved
                              TD Ameritradetd 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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                                • Fr
                                  Fraudulent broker watch dog Mar 17, 2011

                                  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.

                                  0 Votes
                                • Si
                                  Sitalces Jul 23, 2011

                                  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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                                • St
                                  Steve11112222 Sep 27, 2017
                                  This comment was posted by
                                  a verified customer
                                  Verified customer

                                  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.

                                  0 Votes