TD AmeritradeConsumerAffairs Unaccredited Brand
After 25 Years as a client (along with my mother & brother too) I am DONE with Ameritrade. I tried 4 times to close out a Zero balance account; should be easy right? No so much! While I was online, logged into my accts (mutual fund & Acct that should have been CLOSED) & speaking to a Customer Service Rep, I saw that a strangers name was 'Linked' & appeared to have access to my accounts. I've had many problems w/ Identity Fraud in the last few years. I am very cautious & nervous about Protecting my identity. I asked the Rep why this was happening, WHO IS THIS PERSON that is listed on my accts with Access, How could this happen? He had no clue. I asked for a Supervisor to call me back ASAP. NO One Called. I waited a week. Called today spoke to a supervisor, she opened a fraud case & am now calling an attorney. Ameritrade is awful and now Dangerous as well.
First of all, there is false advertising. They advertise free trades for 60 days and such but then when you get done setting up the account and going through all the gyrations you find out the trades are some of the most expensive in the business. Then, when attempting to close the account, which had never been used, they refused to delete the social security numbers of my beneficiaries. So, it's out there, like so many other companies, just waiting for databases to be compromised. Uncool.
I was a happy Scottrade customer with a small SEP IRA. The first time I tried to make a contribution into my SEP after the TD Ameritrade acquisition, I discovered TD Ameritrade will not accept ACH deposits for SEP IRAs. You must mail a check or do a wire transfer. Extremely inconvenient. I've transferred my account elsewhere. Glad to be gone.
I have been a member of TD Ameritrade for 18 years. I trade stocks/ETF's full time as my primary source of income. I have been trying to resolve a charting issue with the online platform for 5 months now. Spoke with countless TDAmeritrade reps: Richard ** 11/27/17, Johnathan 1/17/18, Christian ** 1/25/18, Kim ** 2/5/18, John 2/8/18, Mark ** 2/8/18, Cole ** 3/21/18 and Igor ** 4/10/18. I have received countless runarounds and am growing frustrated that this issue has not been resolved despite countless hours on the phone and emailing TD about these issues. Charts as of the first week of November 2017 stopped updating candles in real time. This creates a discrepancy in the chart that can cost the unaware trader a great deal of money. The charts are now essentially useless for anyone in the Intraday trading scene. I understand that charting errors will happen from time to time but their sense of urgency about resolving this issue is unacceptable.
TD Ameritrade knowingly admits there is a problem with the charts but they can not tell me when or if they will even be fixed. TD Ameritrade tells me that their vendor is responsible for the charts and that it is up to them to resolve it but that their vendor insists that the charts are performing as they are supposed to. I have asked for contact information so I can speak with their vendor directly but have not received such information. I'm not sure what else I can do to resolve this situation other than make the public aware of the issue. Please see attached chart for illustration of what is happening. Notice discrepancy between real time price ($17.83) and the close ($18.02) on the 30 min candle is $.19 or 1.05%.
TD Ameritrade a big step down from Scottrade - Scottrade had its limitations, but horrible experience with TD Ameritrade: 1) Last Price and Closing Price often differ when the markets are closed (middle of the night on the weekends); 2) Shares x Last Price or Closing Price does not equal Market Value showing; 3) There is no accurate real-time cash balance, including cash and money market, so no way to know exactly what it is except by calculator and transactions page; 4) The Unrealized Gains/Loss page is not real time and does not show the stock/fund symbols, but alphabetizes by stock/fund name. 5) Ameritrade site allows editing of Positions page to create custom page, but not ordering of columns, which undermines its usefulness. Ameritrade makes excuses for all of these. Individually and together, they make it very difficult, if not impossible, to keep records, balance account in a spreadsheet, and transact online.
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TD Ameritrade recently bought out Scottrade and the entire experience has been horrible. My wife and I both had retirement accounts at Scottrade and just about every preference we had set up has been screwed up. Part of our dividends were re-invested, part sent to a money market account, and only one third sent to us. We were suppose to get all dividends sent via a check to us quarterly. We count on this money for our everyday living expenses and at this point in our life, I don't want the dividend reinvested. Calls to customer service got foreign reps who spoke terrible english. When I did get a person that I could understand, I could not make them understand my problem. I am at "wit's end". I will be leaving this company in the dust. I would give a zero star if I could.
I'm a former member of Scottrade. The technical issues and customer service at TD Ameritrade are atrocious. I can understand an occasional technical glitch however, a week and a half ago online trading was down the entire day. Today, you can view only but can't place trades. Again I understand technical glitches are going to happen even though they happen more often at TD Ameritrade. Today will be my last day at TD Ameritrade. I've already started closing my account out. Not because of the numerous glitches. I decided to call customer service and place an order manually. Was on hold for 46 minutes and 37 seconds for this phone call. Finally got in touch with a broker to manually place my trade because of their glitches. How about this order never showed up to my account.
If I'm going to spend 46 minutes and sit through your higher than normal call volume to place a trade because your website is malfunctioning. I wholeheartedly 100% expect that trade to be there when I hang the phone up. As soon as my funds finish settling, I can assure you they are on the way out the door. I didn't mind paying their high-dollar trade fees. I'm already accustomed to it from Scottrade but at least their website work. There's cheaper trades available on platforms that work. I do wish Ameritrade well.
I am a former Scottrade customer, and I will soon be a former TD Ameritrade customer. I was very pleased with my experience at Scottrade, but TD Ameritrade is the absolute worst. As I write this, their website is down. I wanted to sell a very large position in Amazon, but I can't. I'm watching the stock on Level II as thousands of dollars disappear. Unlike every other online broker, TD Ameritrade does NOT report the dollar amounts of trades instantaneously. You have to wait until overnight to see how much your trade was worth. Unbelievable! And I can verify the responses of the other reviewers on this board that calling the 1-800 number or leaving an email message is useless. The people answering the phone and responding to messages are clueless and often give wrong answers.
My Scottrade online experience was quite good; not so with Ameritrade. Want to obtain transactions over a multi-year period? Sorry, no can do. Limited to search a year at a time. Seriously? I'll be switching brokers.
I am coming from Scottrade. Everything is new and I am excited to learn as much as I can. I like learning on my own and not in a classroom setting. I have had questions and all have been answered in a straightforward manner. I like how things are laid out at the website. I do have to take the time and discover what the answer is. I look forward to working with Ameritrade.
Website is a nightmare. I can't find most information regarding my account and neither can uninformed people at the 800 #. Orders have been processed but not in accord with instructions and no one knows why. Trying to find an order or completion of order on website is non-existent. Taking suggestions for other brokerages...
Ameritrade has tools for every level of investor. I have used for over ten years with no bad experiences. The screens are intuitive and the information is complete.
I got transferred from Scottrade. Cost basis for multiple trades / positions are messed up. I have had 3 calls and multiple email exchanges and every time they acknowledge that it is messed up and they will manually fix it... Then I get a response saying it looks OK, and then I tell them why it is messed up which they agree and then it goes in a repetitive do loop. Their level of competence is next to zero. I am not even going to talk about bunch of issues with transition. They has months to port information, but half of it has come over, the remaining hasn't and there is no timeline when the rest of it comes. I think I am going to take my business somewhere else. Absolutely unacceptable.
I have used Ameritrade for my brokers since 2000, have used others and those online platforms are not easy to use. I won't move my accounts with TDA plus I can transfer in and out easily.
I fell into Ameritrade as a result of inheritance from a work friend, Fred who felt fatherly towards me. I was not an investor prior but have managed and made gains with the help of TD customer service. Having no other experience with other companies I can only say since 2009 and I am still a rookie that TD is good!
I don't use Ameritrade's services often but it's very good when I do. The services seem to be pretty complete. Costs are reasonable and the features are easy to use.
My various Scottrade accounts have just be assumed by Ameritrade. Since all my assets were transferred, dividends have not been credited to my account. I called Customer Relations who did not know why this was occurring. The rep promised to look into it and call me back. I am still waiting. I cannot believe that I am a lone case and others have not already called about missing dividends. This should not be happening.
Just was told that the micro charts have misinformation. I called and they could not explain why my purchase price was higher than the stock has ever been. They told me that they don't support these pages and I need to go to gain and loss page. ARE YOU KIDDING ME. Then why do they use this type of micro charts if they are wrong!
They mailed me physical bank statements to my home when they were not supposed to. I called them and asked why this happened? They said it was because my Scottrade account got transferred for the first time but it won't happen again. On top the lady I was speaking to she acted like they did nothing wrong. Amazing. Screw you TD.
Longtime customer of TD Ameritrade. Attempted to transfer my account to a better more competitive institution. The transfer was based on a number of observations: poor pricing, poor ease of trading, poor service, poor communications from Ameritrade, etc. The transfer was delayed and mishandled by Ameritrade supervisor suggested remaining with Ameritrade - totally incompetent!
I haven't found any of their helpful information any help at all. They give you all the news after everyone else already heard it and made the trades so you're always in a terrible position. Look for a company which will help you earn on your money. I've been with them over 10 years and always found myself losing money and no one to offer solid advice. If you're looking for a company which sucks out your money really quick, you've found it.
I'm a new TD Ameritrade client, having moved from Scottrade this past weekend because of the buy-out. Today is the last day of the month, and several of my stocks pay dividends on the last day of the month. This morning I checked my TD Ameritrade accounts and the dividends which paid today were not posted. After two emails to TD Ameritrade with no response, I called their customer service number and asked why my dividends had not posted. Turns out they don't post dividends paid until the following day. Scottrade always posted dividends on the day they were paid, allowing you to immediately access them for additional investing. Why should I let TD Ameritrade use my money for a whole day and effectively lock me out of the market for a whole day?? No way this is gonna happen. I'm moving out and advise everyone to avoid this company!!
After discussing at length the pros and cons of Ameritrade with different reps and reading reviews decided to give it a try. My advice is for you to realize this is a site like all other online sites. They have their problems. Ok you have to wait days for a trade to clear which means you have to keep wiring your account for additional funds to trade. Options require 25k minimum and trades are slow and painful. After trying this site I realize that the great marketing is all this company really has going for it. This is a terrible, terrible trading site. Don't be fooled.
Failed to process a sale costing me 40000.00. On February 2, 2018 I sent a ach to sell my and my wife’s ira. This sale order was done electronically and confirmed by Ameritrade. The sale should have been executed on Feb 3 however wasn’t done till Feb 7. I spoke with a man named Robert who after researching what happened told me it was bad luck (the market dropped and so did our accounts). This customer service rep wouldn’t even give his name. Stay away.
You will be lost in the shuffle and from the beginning, lost yourself! You will be asked to provide your 9-digit account number that is hidden and displayed in only one place, not the My Account page. They allow options trading immediately, but you cannot have funds for 3 days. They are backwards in everything they do, and it will cause confusion and great problems later. Others allow funds immediately but you cannot trade options without approval. You will try to deal with a convoluted platform and too much data in your face 24/7, then try to place a trade and use symbol lookup for trading that then changes the trading page to Research and News while you are trying to place an active trade. It's like a bad joke or puzzle! The system is not well integrated.
I requested a withdraw that was processed and approved. The next day, it was cancelled without reason. You will place trades and go through the entire process to have it all accepted, only later to say it's denied because funds haven't cleared. It's the worst platform I've seen so far and everything is extremely scattered and difficult to find or use, as though intentional. I cannot fully express how aggravating it has been trying to trade here. Support could care less, and the apologies are too much. Too bad OptionsXpress was destroyed by Schwab! They had it right!
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.
The other bad reviews for TD Ameritrade look to be accurate and point out a number of problems that I can corroborate and agree with. TD Ameritrade has lost their chain of accounting and has said as much to me more than once over the last decade or so of using them. In the past I have had them admit to me this is their fault and that something is wrong. I asked and also believed what I was told and that was to stay put with them and this would be fixed. Instead, as I continued to use their broken and useless product, one day at begin of December I go to use my Visa debit card and it is declined. I call them and they inform me that they are closing the account as a business decision and this was conveniently done to accept my December USA SSA payment, hold it and the other funds from my use, and then expect me to wait for weeks to even learn what and why by a letter they likely planned to send a week later.
In doing this they held both my cash account and Roth IRA and planned to disperse them to me via a check. Given the amounts in the accounts I am not sure how I would cash them for my use etc. It took me many months to get this resolved, to get my money back and out from under TD Ameritrade and in doing that I lost money that was encumbered for purchases and other monies being refunded to me on the Visa card. The phone person at the end said that the ledger amounts don't add up, and I said I see that and he later said the strike prices are wrong, meaning the stock purchase and sales amounts are wrong. I said, "WOW! You are done." Late in 2013 I ran reports from them showing just raw transaction counts for 2012, 2011, and 2010. Doing them three times over the course of 3 differing days I get differing amounts for ALL THREE YEARS!!!
Overall the ledgers don't work properly, they are not atomic, they are mutable, contain information that changes later, transactions strike the ledger and are later "filled in" with the real information as to the source of the funds etc. Looking at the ledger say at 10pm, has them in one state with today's transaction in place with dollar amounts but just a vague text detail of who made it. After close of business say at 1am, those ledger transactions are rewritten to contain a proper name, say Walmart, or US SSA, etc.
BUT in that you will at times see transactions change, go away, or arrive and be before the last time you checked. Look at 10pm see one thing, check again at 1am and see a new item marked as being there at 9pm. It can't work. I had to call them over and over again. At one point 3 times a day for 7 days to get a debit card replaced, each time I was lied to. They were not sure what was being done, if it was sent, how it was sent, etc. A vendor made numerous refunds to the Visa card and none of them showed up and TD allowed this theft to happen, messed up on two other CC disputes, and with that partook in and enabled theft of my money. Then they admit that again saying it makes no sense. They claim the account is closed, allowed funds to be paid to others but not me, and now over one year later USPS mail me statements saying there is a few dollars left in the account. Why?
Dialogs on the phone had them be verbally abusive to me, act condescending, essentially accusing me of things, making slurs of me personally, being harassive, dishonest, and then again doing same thing with checks to close the account. This set of accounting and ethics failures affects ALL TD Ameritrade clients.
Was trying to open a new account for an employee for a pension account and experienced unusual ineptitude, non caring behavior by new accounts dept. Very limited help even from numerous supervisors from lost faxes, poor documentation and more importantly no response and reply leading to numerous follow-ups, hours on the phone and the feeling that one hand does not have any idea what the other is doing. More than 90 days just to get a new account!!! Late for the tax season because of these morons. Never again.
Depositing funds from your bank account into your Ameritrade account is simple (even for a novice). And why wouldn't it be? The whole point is for Ameritrade to take your funds and make a profit from them. Want to withdraw funds from your Ameritrade account back into your bank account? Well that's where the BS starts! My ACH bank transfer account was deactivated for no apparent reason. I was told it was a precautionary reason to fight potential fraud. That alone was a little sketchy, but that was only the beginning.
Now they want me to verify my bank connection by entering two test deposit amounts into "My Bank ACH Connections". Only if it was that easy! As I stated, they deleted my Bank ACH Connection, so there is no way to enter the two test deposit amounts. Nobody at Ameritrade knows how (or wants) to resolve this issue. Now I want to close my account out entirely and withdraw my $2,000. This is complete absurdity! BUT I CAN’T CLOSE MY ACCOUNT - BECAUSE AMERITRADE WOULD RATHER STEAL MY MONEY AND PROFIT OFF THE INTEREST! Where is my Ameritrade representative/Manager???
Finally closed two accounts that have been sitting for years, untouched. There was very little in two accounts I had - one less than $100 and the second had almost $200. In September 2017, spoke to a Representative to sell the last of 3 shares of stock and explained that I wanted to close both accounts and have the funds disbursed directly to my checking account (the accounts were already set up to transfer directly to my checking). After 45 days, I finally received funds from the lesser of the two accounts, which they took money out of, even though I was told nothing would be charged. Here it is December 2017 and I'm still waiting for funds from the 2nd account! It took 45 minutes on my phone w/ Representative to straighten the mess out. Excuse after excuse and 100 times "I'm sorry"! Why did you send a check when funds were to be transferred to my checking? (Sorry!).
Why have I never received the funds from the 2nd account? It was an absolute horror & you would have thought with what they put me through that we were dealing with millions of dollars! And I have to tell all of you that every single time I had a transaction, a withdrawal or anything at all - there were errors! Not ONE thing I did over a span of 8 years was EVER handled CORRECTLY! Can you sense my frustration? NOT ONE transaction was handled correctly!
I can't even estimate the number of hours spent on the telephone with Representatives trying to figure out what went wrong. Each one made it sound like it was the first time they'd ever seen anything like that happen with anyone! Yet, repeatedly, over and over and over, always a screw up. Even if I was asking for a simple disbursement! I can't believe I didn't end the torment sooner! I searched high and low, reading reviews before opening an account with any other broker but guess I had to learn the hard way! Stay far, far, far away from TD Ameritrade if you want to keep your sanity!
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.
Ameritrade Company Information
- Company Name:
- TD Ameritrade
- Year Founded:
- 200 S 108th Ave.
- Postal Code:
- United States
- (800) 454-9272