TRADER LOSES $120,000 but TD Ameritrade refuses to honor their policy of making customers whole ….

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If you have any questions or suggestions or if you have anything at all to say just email me at uzotrader”@”gmail.com . Thanks !

9 responses

  1. trader in VA

    I read your blog and believe you. It’s not fair what they did to you. At a minimum they should have notified customers (allow them to trade but have a notice on every page saying that the quotes are delayed and trade at your own risk, disclosure is all that is needed.) If you knew the quotes were bad you would have used other quotes (i.e. from think or swim) or switched brokers till the issue was resolved.

    They should review every trade you made and adjust the buy prices. It sounds like it would be obvious based on the way you trade. An example would be where you click the bid and enter and order at .80 to sell a call. That order will sit and be followed by a cancel and change to .75 as you chase the price. When you finally bail and enter a market order or very low asking price to get out the difference in the original order .80 and the transaction price should be reimbursed.

    You may not receive all the money but it will probably be a substantial portion and you can trade your way whole again.

    October 15, 2010 at 7:02 pm

    • Thanks … The responsible thing for them to do was to notify their customers that the quotes were bad . Lots of people are having these problems but most don’t know . They actually are bound by SEC laws to tell their customers but they are not telling because they don’t want everybody to leave them . I still see people all over the internet complaining about these problems . They even have a company policy that says they will make people whole but guess what ? They have been scrubbing the internet and removing the policy …. but I have screen shots … UNBELIEVABLE STUFF ..UNBELIEVABLE !!!

      October 16, 2010 at 12:49 pm

  2. sue

    i used td ameritrade and it is an absolute JOKE.
    as a professional trader you must use a direct access broker at all times and cross check quotes. i use tradestation AND IAB so i know when things are weird. i trade options as well and i can only imagine…..

    February 8, 2011 at 10:49 pm

  3. spy

    either me i found there is difference between the filled order in thinkorswim platform and my account balance in TD ameritrade.. for example i bought 200 contract spy in 0.50 and i sold them in .60 this is what appear in TOS

    but when i checked my balance in td ameritrade it was different!
    bouhgt 200 contact in .51 and sold them in .59

    all my trades was like this..and sometime some order place without my knowledge

    really i am scared from them..

    what the best trust broker if i decide to trasfer?

    February 13, 2011 at 6:53 am

  4. Thanks for making your comments . The comments will help other investors that have come to my blog .

    If you have a problem, you can at least make a complaint to

    FINRA Complaint

    https://forms.finra.org/Public/LoadForm.aspx?FormQuery=INVCMPLN.1&InstanceID=2d27b1d0-1307-474d-b816-01688a007edd&ReturnPage=&TimeStamp=2_14_14_28_20_070

    SEC Complaint

    https://tts.sec.gov/oiea/Complaint.html

    February 14, 2011 at 2:37 pm

  5. Pingback: Trader losses $120,000 due to TD Ameritrade Lagging Quotes ! « Trader losses $120,000 due to TD Ameritrade Tech Glitch !

  6. Michael M

    Hi, I’m not an options trader, just equities, I’ve been a client of TD for more than ten years. Since I’ve been using TOS over the past year or so I have a continual problem of getting stopped out of my position. When I call there’s always an excuse that just because the price wasn’t visible on my chart/screen it did actually touch my stop loss price, this is in many cases is impossible. I call TD or the TOS help desk and get excuse after excuse. I was told today (8/26/2011) that for each trading platform TD uses they use a different firm to track time and price. For example if I had used trade architect my stop loss might not have activated. I wish I was more articulate in explaining the run around/problems I’ve experienced since using TOS/TD especially in the past year or so. Something is definitely wrong, TD is of no help whatsoever and I’m at the point i wouldn’t believe them if they told me water was wet. In the past week my losses because of being stopped out are approaching close to 7500 dollars.
    I’ve given up trying to get anywhere with TD, is there any other trading sites that supply accurate quotes that anyone knows about?
    Thanks for reading this and thanks for your time.
    Feel fee to contact me anytime @ mfme@socal.rr.com if you think I’m out of line or actually have a point, thank you.

    Michael M.

    August 26, 2011 at 10:34 pm

    • Oh .. I understand whats going on .. I have thousands of hits on this blog and I can tell what searches are bringing peopl to the blog …and I get all kinds of search terms related to poor execution or bad quotes etc . They are supposed to give their customers best execution by law but they keep playing games … Its just a matter of time before they get busted .. You should see

      http://www.cheatedinvestor.com http://www.liv-n-letliv.net/MD_district_court_Ameritrade.html http://www.complaintsboard.com/complaints/cancelling-trade-two-hours-later-c476321.html

      You should go through my the posts on my blog and see the lawsuits that I posted regarding TD I have done all kinds of research on Td ..I even spoke to a guy that lost about $1 million . They were going in the transaction records i.e the history and changing the trades after he had made money ..I.e if he made money they would go back into the records and change his buy and sells and create losses for him . He was taking screen shots of all his trades and was a ble to figure out that he screen shots did not match his history . There is a lot of stuff ..

      August 27, 2011 at 1:19 am

  7. Rod

    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!

    December 13, 2012 at 4:30 am

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