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Ameritrade
Ameritrade
Overall Satisfaction Rating
1.25/5
  • 5 stars
    5
  • 4 stars
    0
  • 3 stars
    0
  • 2 stars
    1
  • 1 stars
    56
Based on 62 ratings submitted in the last year
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TD Ameritrade

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212 Ameritrade Consumer Reviews and Complaints

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Rated with 1 star
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Verified Reviewer
Original review: Dec. 7, 2018

Imagine you have your money in TD Ameritrade, and at least for two weeks you are not able to log in because the system has issues. I have spoken 6 times with Customer Service representatives, they are very kind but do not have a solution. Then you are transferred to the Tech Department, which ask the same procedure again and again. They try through Google, Firefox and then, when they realize they can't solve, they say, "We will speak with Liaison." This department never answers, and in theory the ticket has the highest priority possible. I am still waiting for an answer.

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Rated with 1 star
Verified Reviewer
Original review: Nov. 15, 2018

Just want to sign up an account. But there are few application forms need to be done by mail to them before open up an account. So inconvenience for everyone! Personally, I'm having few investments or trade account. They make it easy for me!

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Rated with 1 star
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Verified Reviewer
Original review: Nov. 13, 2018

I received an option to purchase stock before it was released to public that was on October 31 statement. No notification from Ameritrade or company that my attention is required. By the time I found out the offer expired on Nov.12. I would have purchased it. No big deal, just saying.

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Rated with 1 star
Verified Reviewer
Original review: Nov. 7, 2018

$6.95 trades with no hidden fees is a bald faced lie. When you buy it's $6.95, when you sell it's $12.90. Nowhere in their sales pitch will you be notified about the actual cost of handling your account.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 7, 2018

Absolutely terrible customer service. Especially Henderson Nevada branch with the manager named Clay **. Left messages to call me but no call back. Try for yourself **. Don't make my mistake. Find a different online trading company. Don't sign up with TD Ameritrade!

6 people found this review helpful
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Rated with 1 star
Verified Reviewer
Original review: Nov. 7, 2018

I opened an account and the hidden fees started. Once I caught it I sold everything and tried to withdraw my money and they refused to release. They said because my account was less than one year old. Then they started with the maintenance fees - eating every penny they could. FILE A COMPLAINT WITH THE FTC - FTC website. If we all do it it will help.

15 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Nov. 7, 2018

I been with TD Ameritrade since 2013, I have accounts with them. In 2018 my purse got stolen so I got police reports every things, TD Ameritrade refused to issued me new checkbooks or banks cards. They froze my account for six months without letting me when I tried to have access to my owned funds I was not allowed too. Since I have several trusts funds with them if I was not a person that didn't believes in do not put your eggs in one basket I would be ** by TD Ameritrade behavior.

Just this Monday that I had to files out paperwork see if they can waive the froze restrictions from all of my accounts. This lady whom work for TD Ameritrade at 142 West 23 St NYC office every other days she called text and emails and leave voice messages, she knows I have several accounts outside TD Ameritrade. She's been reassure me to consolidate. She called it all of my accounts so they can managed my wealth for between 1 to 9% annual fees so I told her I cannot override my wills and trusts funds not my attorney nor my accounts.

I honestly do not trusts them after am not allowed to have access to my own money for six month. The reason was I do not have enough activity in the accounts. Am like, "What the hell that's supposedly mean?" They said they reading the notes whomever wrote it in the banking department so am still waiting access to my own funds am thinking to transfer out and this lady kept invited me to events TD Ameritrade have whom works for them. I have been ** to do with my times and myself.

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8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 2, 2018

I was happy back when I was with Scottrade - no problems at all and customer support was friendly and would get back to you. 1) With TD Ameritrade, no one gets back to you unless they're trying to promote a product of theirs. 2) I was supposed to get free trades for adding additional money to my account. When I placed trades, I noticed the transaction fees. I called both support and a local branch, who both feigned ignorance. About a week after my discussion, the fees were finally reimbursed. I had placed additional trades in the span of 3 months and they were also charged transaction fees. This is ridiculous!

3) On top of that, the account summary is difficult to read since I see so many transactions going in and out (mostly out) of my account even though I am not moving anything. It is not as upfront nor transparent as Scottrade was. 4) My trades (market and limit orders on stocks and options) are taking very long to execute even though I am staring at the ticker prices (on their site and other sites) and the stock has already met and exceeded my limit price yet has not executed. I have missed on a couple of orders because of this AND I have also paid more than I know I should have. I have a very strong feeling, TD Ameritrade brokers are holding and waiting on customer trades in their favor so the brokers can profit by putting the higher price on customers. This did not happen with Scottrade.

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9 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Oct. 26, 2018

Had made a request to withdraw funds. Funds were pulled from my bank instead of being deposited. Seeing other reviews saying same thing. They don't care. They act like it's your fault. Messages on TD website prove it was them making the mistake. They then listed a deposit to make it look like I caused it. DON'T TRUST THEM. Be aware of everything.

11 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Oct. 25, 2018

I signed up and funded a brokerage account after months of education both free and paid because I love their Thinkorswim platform. It is also the platform of choice for my 20+ year experienced teacher. The software is amazing, however after funding the account changing my day off so I had a free day just to trade during the week, I go to trade and realized my Thinkorswim is locked down, unable to execute multi leg options or forex trading. I've been practicing in their paperMoney platform and learning from my teacher.

After many many emails, even after passing their lengthy course and test they still wouldn't approve me for their "tier2" options which is what's required to trade forex and multi leg options. They approved me for margin, for risky stocks but not multi leg options which allow me to hedge my risk? It's bull. They don't want to protect you from yourself, they only want the idiots dumb enough to blow their margin on high risk stocks at a high commission rate. My commission free Robin Hood account is fine for that but some people want more. Thinkorswim can deliver more but at a cost of high commissions for inferior service. Guess I have to learn a new platform and pay less commissions to a broker that actually wants my business.

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3 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 24, 2018

I called Ameritrade and asked to transfer money my cash flow which was not used for trade into my checking account. They did the opposite and transferred money from my checking into Ameritrade. I had to pay overdraft fees from my checking account and I was expecting that money to book a business trip. When I called they didn't take the blame and only apologized about the misunderstanding. I told them I was pretty specific and repeated myself a couple of times, still just an apology. Worst experience with this company, I don't recommend anyone to invest your money at Ameritrade.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 22, 2018

Had a great time with Scottrade. After they switched to Ameritrade it's not working out. Tried to buy stock. Keep getting error page and get logged out automatically. Very frustrating. Wasted lot of time uselessly pulling out of this company.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 19, 2018

I was a user for the TD Ameritrade think or swim platform. While chatting with fellow traders, an ego driven and sully admin, decided to silence my account functionality without reason as to why or the circumstances as to whether it would be reactivated. Apparently, was talking about jumps in certain OTCs that the admin found out of line. After several repeated attempts with all sorts of characters on the phone, I kept getting the end result of "there is nothing we can do to un-ban you", "check back maybe in a month." Well, I have another account at Fidelity where the service is impeccable, so too bad TD. Try not being a bunch of condescending tyrants, and maybe then you will keep customers. Think or swim functionality is limited, and there is not any immediate help or care for concerns. Was with Scottrade for years before they became TD, switched to fidelity. Better commissions, down to earth people, unlike TD.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 14, 2018

I do not trust them. Do you think I’ll have a problem cashing out from them? I have a cash account. How long do you think will take for them to send me a check. I just had a dividend check payable on August 15. They did not send it to the end of the month. I could say more but the hell with them I do not trust.

11 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Sept. 14, 2018

Customer service will not allow me access to my funds. It is a red flag towards their solvency. I had to turn over my complaint to the NJ department of Banking and Insurance. I have been with them with large deposits for over 20 years.

13 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Sept. 7, 2018

My checking information to pay my bill was lost or stolen. In July I had to dispute a fraudulent charge. I gave all my information back to them. I had an extra #1 in the account. I found out a week ago a small error they claimed to being to collect a payment. I just corrected that and made more than my minimum payment for July. I'm just getting word from them in late August and September of the missed payments from July. They threatened to report me. I can't make a full payment of $314.68 all at once.

7 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Sept. 7, 2018

Around 4 or 5 yrs ago I Was a investor at TD Ameritrade. I was saddened by what I was charged for margin calls. After I paid a margin call they billed me another margin call (I was charge up to $34.00 in margin calls when selling). My last 2 stocks I had coming almost $80 to $100. When I sold my stock they kept everything on my last 2 trades. No money back. They added margin calls to my account. I sold stocks before just a few months ago before between 2010 and 2014 I was not charged margin calls before. I was fed up and left.

10 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Sept. 6, 2018

I tried to contact TD Ameritrade Client Services to try and troubleshoot a trade. I had placed a limit order and it failed to execute despite large volume at the limit price. First I tried to call, but was put in queue in light of “unusual call volume”. So I tried the email option, but when I selected the subject option pertaining to trades, a message indicated this was a telephone call only issue. Another attempted call went unanswered after nearly five minutes negotiating menus and being put on hold, altogether nearly a half hour of time devoted to getting nowhere. I was a Scottrade client for 16 years and never had problems like this.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 31, 2018

I Have been trying to transfer around 1500 to my personal account from my broker's account at TD Ameritrade. First, the Bill Pay service has been down in the last 2 days and no signs on getting fixed. I call the representer and told me that the only way to withdraw funds was to do a wire transfer directly to my personal account. I did the transfer after putting the bank information. After 1 hour I get an email stating that funds were unable to transfer so I went back to my account and was locked. I called 3 times and not one in the branch can explain the issue. They stated that it was locked for fraud protection and that they will call me for any questions. They probably want to use the money to profit and don't care about their clients. I hope they can fixed the issue or we are thinking in scale the situation.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 29, 2018

I was part of Scottrade until it merged with TD Ameritrade. It was hard for me. Scottrade was more simple as the years went by however TD Ameritrade became worse as the days went by and months went by. I had to guess at things and then ask people because the account they made for me at TD Ameritrade kept shutting me down. Password would not work then when password worked it would ask questions and not remember the answers. I also found people were misleading me. I wanted to leave to another broker. I asked how much to transfer at TD Ameritrade. He wrote $75 however someone wrote zero when I asked. I asked E*trade how much it would cost to move to E*trade he wrote zero.

Then I went to E*trade and liked it and applied for transfer. They gave me no bill to review then to accept then pay. Then after it appeared at E*trade then TD Ameritrade expected to be paid just imagine if they asked for several thousand I would of been in big trouble. TD Ameritrade wrote on the internet partial transfers are free and then asked for money however they kept changing the amount from $315 to $285 for one stock WNBD Winning Brands Corporation. Look it up as a stock and you see how next to worthless it is. E*trade is a great broker they saw the mistake about charging me $75 when it was free to start there and fixed the problem and my username and password always works well there the whole time I have used it.

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13 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 15, 2018

We have had Ameritrade accounts since early this year and were happy until today. Their Risk Management team has closed our accounts without giving cause or reason for the action. So now I must move everything to another broker. It's unreasonable of them to close an account that is active and in presumed good standing and not to provide a reason to flat out refuse to give a reason. I believe they are discriminating against us because of my partners' current situation. I will not recommend them to anyone else.

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 30, 2018

Josh **, Ameritrade - Burlington, MA. Don't be stupid to give your money to Josh ** of Ameritrade and Tanner ** - ThinkOrSwim. They chase you for the money because they can make commission out of it. Once money is in they leave you alone. You sent them the emails. No response. They promised to call you. No phone call. Disappointed and felt extremely disgusting.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 25, 2018

Recent change over from Scottrade was less user friendly than promised. With the advent of mobile technologies and applications, more attention should have been dedicated to presentation, navigation, functionality and user satisfaction on portable devices. As an account holder with multiple accounts, I find the simple actions of checking balances or hopping from one account to another very challenging. I recommend their developers and product managers review competitor sites such as Schwab, Fidelity, eTrade, or commercial banks like Chase, Bank of America or Wells for guidance on better interfaces.

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 13, 2018

I sent in a request to cash out my account 64 days ago. I have followed up weekly. Time and time again when I call the reps go through my account, documents and notes. I have been told every Friday for the past 6 Fridays that my account will close any day and the check will be mailed within 48 hours. 6 weeks later, nothing. We are not talking a lot of money but it’s not their money, it’s mine. Seriously...so you that desperate? Tacky and misrepresents any financial institution. Thieves!

29 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 22, 2018

Being required to move my accounts from Scottrade to TD Ameritrade has become a "chore" to get anything accomplished. Even a simple phone call. I tried to reach my long time rep with a phone call to my local office. Recording asked for my account No. "No such account number", I was told. Then a rep from St. Louis came on the line. I told him I wanted to reach my local office and answer was "do you have an appt?" I told him I was returning my rep's call. "Well, what was the call about and can you talk to me?" I told him I just wanted to contact my local office as I have always done. "Well, we don't do things the old way here anymore". Good answer to keep clients. I am now searching for another company and can understand the previous reviews!

25 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 20, 2018

My late husband had an account with them. Since his passing, I have sent a letter every month, with death certificate and domiciliary letter. I have NEVER received a response!! This has been going on since 2016!!! I have called, sent emails, more letters and still NO RESPONSE!!! They need to get over themselves, they are not that good!! I think the "5" star reviews are from employees, mind you, my opinion. Poor, poor excuse for a company!! Avoid this company!!!

25 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 20, 2018

I have been dealing with them for about 9 months trying to move some Estate paperwork. They have asked me about literally 5 times for the same paperwork. Every time I emailed them and thought everything was ok, they asked me again. They were not familiar with NJ law, had no idea of the form L-8 where I am the primary beneficiary.

After back and forward with them for months, they finally processed it but continue to deny access of the account causing the account to go under. After all the paperwork being processed and the account released, surprise??? They asked me for the paperwork all over again. After cursing to myself a few hundred times, I emailed them the same paper worked that they asked before.

Surprise? Still not good, they are still denying me what is mine by law and are treating me like some kind of alien or thief who is asking them for my money (widow). I can't take it no more, 9 months and counting I have not yet take possession of a minor amount that is hanging there without supervision. What a disgrace? Does anyone know when am I going to invest w/ them? I can say NEVER, NEVER, NEVER. Hate them! People out there, please leave a beneficiary w/ this co or your love ones will never see the money... Horrible. Here I am a widow w/ two kids and no money to pay bills. Welfare next?

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16 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 4, 2018

I came over from Scottrade where I had traded for 8 years without a problem. After the transfer it took TD Ameritrade all of two weeks to give me a problem with a missing dividends. Their answer to my inquiry was double talk about sweep etc. I was new to the site so I let it go. Then on April 30 a 54 dollar dividend went missing. It showed in the transaction page but never made it to my cash account. Local management gave me the famous double talk; so I sent a letter to home office where a Shawn with 15 years doing this took the time to tell me that I really did not see what I saw in my cash account and if I wrote to FINRA they would only send the complaint to him to handle. If anyone has had trouble with missing dividends from this place please send me an email to **. FINRA might look into multiple complaints.

29 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 30, 2018

I can deal with poor customer service if it's an outlier experience, but when it's the same bad experience time after time after time, and across multiple departments and functions over a course of years, then it's not a 1-off problem. TD Ameritrade customer service is inherently awful. Regardless of what specialized department you need to speak to, all incoming calls first get routed to a broker. There is long hold time to get to the broker, then you explain a situation that they can't help with, then you get transferred to another department with an even longer hold time. Then the person you eventually speak to does not instill confidence that the problem will be fixed, and their path of least resistance is to persuade you to refer to on-line help documents and forms. The problem of course is that the help documents are so generic and unclear that you had to call to talk to a live person in the first place.

Hopefully you will never have to speak to the divorce team because they work short hours, hold times are painfully long, they are the only ones that will have access to your case files and they make a lot of mistakes. The latest issue that pushed me over the edge with this company is that I needed to execute a 50/50 split of securities in a joint liquid stock account with my wife, transfer her portion into an individual account she set up, then remove her name from the joint account. Easy, right? Four weeks and counting. Step 1, she opened a new individual account (that went O.K.). Step 2, submit the forms to execute the transfer.

Step 3, submit the forms to remove her from the joint account. The back office divorce specialists told me we couldn't do Step 2 without submitting the forms for Step 3 at the same time, which makes no sense to me.

But of course instead of telling me this right away they just sat the paperwork aside and waited for me to get so frustrated about why it's taking so long I had to call them to get the ball rolling. So we get the forms submitted for Step 3 (notarized and faxed from a law office) with a very specific cover letter explaining that the transfer portion needs to happen first, then the joint owner should be removed. Of course they screw it up and remove her from the joint account first, so now there is a problem moving the securities from one individual account to a different person's individual account, which may have serious tax ramifications if they don't fix it.

This was the last straw in numerous screw-ups over the years. I've been with them for 15+ years since they merged with TD Waterhouse, where my original accounts were. Over time I sense they learned that they make their money being a discount broker for conventional non-complex trading. But in the course of human events people experience situations where they need proficient customer service and frankly expertise when it comes to their money. TD Ameritrade is absolutely NOT the company to provide any level of customer service above abysmal.

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20 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 23, 2018

This is the worst experience I have had with a broker. I've been trading options for several years and wanted to try TD Ameritrade. They're so well-known, so they must be good. Right? WRONG! Here are some of the reasons: With technology what it is nowadays, they still put a 3 day hold on ACH transfers. What a crock! Every time I called, I had to be put on hold and wait for a cust svc rep, then when he/she answered I had to tell him/her I need the trade desk, the rep would transfer me, & then on hold again before someone finally answered. Sometimes, when trying to place a trade, time is of the essence! Upon deciding I've had it with this poorly run brokerage company, someone on the trade desk started to give me the direct phone number. One of the cust svc reps should have given that info to me on one of the many calls I made to them previously.

Even though I've been trading for years, they only approved me for covered calls. Covered calls??? Give me a break! That is not a strategy I am interested using right now. My favorite strategy is a debit spread, but I wasn't even approved for options. I waited the required 3 months before reapplying and was still not approved to trade options.

The prices are outrageous! Although I negotiated a lower contract fee (.50¢ instead of .75¢ per contract), every trade to both enter and exit gets hit with the $6.95 fee plus however much for the contracts. So, to enter & exit a trade with 50 contracts ($25.00) would be $31.95 each way - $63.90 total. That is absolutely ridiculous!

On the plus side, all of the company reps that I dealt with were nice - no issues there. And, the Think or Swim platform is pretty nice - it's good for paper trading. My Broker now is Tastyworks - LOVE THEM! Great cust svc - straight to trade desk, excellent prices, and much more. There was a slight learning curve with their trading platform, but once I got it, I was off and running. I opened my account on a Thursday and was trading options & debit spreads on the very next Monday!

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19 people found this review helpful
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TD Ameritrade expert review by ConsumerAffairs

TD Ameritrade, founded in 1975 as First Securities Omaha, is a full-service brokerage firm. It is still headquartered in Omaha, Neb. and now holds $774 billion in investor assets. It offers many types of investment and financial products for all levels of investors. Clients can work with agents in local branches or only trade stocks online.

  • Platform: TD Ameritrade offers multiple platforms, one that is more basic and another that includes more advanced tools for experienced traders. Those interested in trade speed or best-execution rates can find the site’s statistics online.

  • Tools and calculators: Visitors to the TD Ameritrade website can use several tools and calculators to help them figure out how much to save and the best investing methods for their financial situation. Some of these tools are free for all consumers, not only TD Ameritrade customers.

  • Education: TD Ameritrade customers have access to educational materials to improve their stock market knowledge. The company has a daily and a quarterly publication that includes news stories, investor insights and research.

  • Research resources: The TD Ameritrade site has resources for traders to use for researching investments. In addition to historical stock profiles, clients can access technical analysis reports and use Social Signals, which pulls data from Twitter to help investors spot trends.

  • Asset Protection: TD Ameritrade provides clients with Asset Protection. The company will return any money or assets lost if fraudulent activity occurs on a client’s account. See the company’s website for terms and conditions.

  • Best for: TD Ameritrade is best for all level of investors, and it is especially good for those who want the backing of a major financial firm with many products and services.

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The ConsumerAffairs Research Team believes everyone deserves to make smart decisions. We aim to provide readers with the most up-to-date information available about today's consumer products and services.

Ameritrade Company Information

Company Name:
TD Ameritrade
Year Founded:
1975
Address:
200 S 108th Ave.
City:
Omaha
State/Province:
NE
Postal Code:
68154-2631
Country:
United States
Phone:
(800) 454-9272
Website:
www.tdameritrade.com
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