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Complaints & Reviews

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!!!

  • Sk
    SKK Jun 28, 2010
    This comment was posted by
    a verified customer
    Verified customer

    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

    -1 Votes

Resolved 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.

  • Ja
    Jack8London Mar 10, 2010

    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.

    0 Votes

Resolved 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.

theft of $15,000

  • Us
    Usa Jams Dec 17, 2009

    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

    0 Votes

Resolved 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!

  • Us
    Usa Jams Dec 17, 2009

    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

    1 Votes

Resolved 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.

  • Mc
    mcmcl Oct 13, 2009

    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.

    1 Votes
  • Cs
    csharp1314 Feb 08, 2010

    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.

    0 Votes

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Resolved 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.

  • Ch
    Chrissr Dec 01, 2015
    This comment was posted by
    a verified customer
    Verified customer

    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.

    0 Votes

Resolved 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?

  • Si
    sirio2222 Jan 26, 2013
    This comment was posted by
    a verified customer
    Verified customer

    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

    0 Votes

Resolved terrible experience

I opened a individual cash account with TD Ameritrade on September 5th, 2008. I agreed to have TD Ameritrade...