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I have been trading with TD Ameritrade desk for more than 4 years. When I do trades it happened me five times that the screen with threes after I just placed an order then I could not sell the shares for 15 minutes because it would freeze and I couldn't do nothing and I will lose thousands and thousands of dollars. On top of that when I do trades in a market order I can lose sometimes as much as $0.60 and that could Mount to $300 and when I tell him to correct the problem they tell me I should have placed a limit order.
Was on Robinhood. Friend recommended Ameritrade. Accepted maybe 2 weeks ago. They transferred all my stock. (Not even 100% done.) Then “terminated business.” No explanation given. 30 days to “Liquidate or find new broker..." Terrible man.
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I asked customer service to sell my stock when it got down to $83.00. The stock was at $85.00, and I was worried that it was going to go way down, while I was on a plane. The stock had been going down. So, customer service actually sold it for $83.00, when the market value was $85.00. The stock never got down to $83.00. He just sold it to be malicious. He knew exactly what I meant. He's an arrogant man that wants to put women that don't know stock market verbiage in the their place. I'm going to another company. Good customer service would explain that they are going to sell your stock way below market value. Also, that is not what I asked for. I said, "sell if it gets down to $83.00."
Working with the Company means investing endless hours to communicate, get a human being on the phone, execute requests, getting reliable execution of what was discussed by phone, zero customer service, stock sales request at the branch, in writing with signature, was delayed for weeks. Closing the account is likewise the most cumbersome process. Any gain one may achieve, dependent on the market development, is wasted due to lack of execution. Customer service = non-existing.
Blocks purchases and sales. Customer service picks up after about 70 minutes. Lots of hidden fees. Rude employees. I also have their credit card. Same issues. I will close my brokerage account. The card I'll keep. Just not use it. Stay away from them.
Their app (Think or Swim) doesn't give correct avg cost prices for the stocks bought. It happened to me few times, since I prefer to do the trades via their app. Because of the data error, I have lost money few times. I called them and they accepted the error. But nothing is done to compensate for my losses. I will not trust and give my hard earn money to this Company anymore. You lost a another customer. Please stay away from them.
Let's begin with the Think Or Swim trading platform. It is unreliable. I had 15 instances in a one month span where the TOS platform went down during market hours. You could not pull up charts, data would not load giving you the circle of death. And then there are the times when you are in a trade and you hit the "Flatten" button which is supposed to close out all of your open trades and orders for a particular stock. I had 15 instances where I had an open position. Clicked the flatten button and the platform did not execute the trade.
Not only that, but it would not let you close out the trade manually via the TD Ameritrade website once this had happened. That means you have no other option outside of calling the broker to have them close the trade. AND when I called the broker (trading desk) on each of these occasions I received a message saying no one was available to take my call and to please hold. I believe I was on hold over 20-30 minutes each time and still no one answered. In 20-30 minutes ANYTHING and I mean anything could happen in the market. A small loss could turn into a HUGE loss or a small profit could turn into a loss or any number of combinations. That is unacceptable and poor customer service. If you cannot reach your broker, then what good are they!
On each of these occasions, the TOS platform suddenly started working again about 45 minutes or so after the problem began and the trades mysteriously closed. Most of the time for a worse price than I had tried to close at, but other times slightly better. Terrible broker for that reason. I would much rather pay more for a good broker than one who provides CRAP service like this.
Charged a false reorganization fee I didn't need as I didn't even have enough stock for one share the day after I opened the account forcing a margin call, then charged commission fees on otc trades, then charged a commission fee instead of getting credit for a sale I was charged and the sale completely deleted!!! Then when closing my account there was a commission charge instead of a sale charge on the last stock I had to get rid of. To close the empty account I had to wait for the last bit of money to be transferred out. They charged me another hidden fee, they automatically have your settings set to send you a 1.75 paper statement, even though I had no money and nothing in the account they still tried to force another hidden fee for a paper statement I didn't need or choose to have sent. Endless hidden fees fine print, all in all a complete scam that lures people in under the guise of making money and instead robs them.
I had an after hours trade somehow carry over and execute the following business day. They said it was my fault because I entered my order after the after hours session had just closed on Friday evening. On Monday to my surprise the sell order executed after hours. That was bad enough because there is no scenario that would ever warrant someone putting an order in for the next day's after hours. To top this off they sold my shares way below the real Bid price that was there! The bid price was $43.59 yet Ameritrade's system dumped my shares for just $42.18 (the limit set 3 days earlier on the previous Friday). And if you look there is no drop to this price in the charts anywhere. It's like the sale of my shares never happened and it was for 600 shares which would have been recorded.
I think Ameritrade's system saw the old order and executed it but kept my shares and sold them to someone buying for the $43.59. This is not the first time their system has done something to steal from me either! A couple years ago I had a stop loss order on a stock. This piece of crap company sold my shares at the stop loss for 15% less than the stock price. And back then the chart did not reflect the sale of my stock either! Avoid trading with this company. They are dishonest and will take money from you if you have an order that will let them. I'm moving somewhere else asap! But not until I open an issue with the BBB, Consumer Affairs and report this to our Attorney General!
I opened an account with TD Ameritrade 3 weeks ago and I have been dealing with their tech people for last 5 days regarding their Thinkorswim platform glitch that caused me to lose over $6500 in two days. 1st incident occurred on 6/10/2020 at 9am. I placed an order to purchase 500 shared at 9am but because I didn’t hear any confirmation sound nor platform didn’t show execution of my order so I thought I missed the entry so therefore I was looking at other stocks. About 90 seconds later I heard the confirmation sound and I wasn’t sure what was going on so I looked every and I found out that my 9:00 order was executed but think Thinkorswim order confirmation had delay issue so it didn’t showed up on my screen. Issue is that my stock price went down and I lost over $300.
Well, that’s nothing compares to what happened on 6/12/2020 at 9am (CST). Thinkorswim platform had delays on their platform so that all of my orders (200 transactions between 9am-10am) were not filled (bought/sold) correctly. Biggest lost was $2,000 that happens at 9:15am. I placed an ordered 4,000 share to buy at $5.05 @ on their active trader but it was filled 48 seconds later at $5.94. And the worst thing about it is that I tried to sell those back right away since it was executed at wrong price, my sold order took another 33 seconds.
Called their customer support and they acknowledged that they had been dealing with issues due to they recently added over 100,000 customers since Covid19 but they said that I should’ve stopped and call right away (I was on hold for over 91min) and I had been dealing with their tech people for last several days but obviously they aren’t taking any responsibilities. This is totally unacceptable. They are taking fees from every trades and they know that there is an issue with the platform but not taking any responsibility... totally wrong.
TD Bank and TD Banknorth author review by Clark Kendall
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.
TD Ameritrade Company Information
- Company Name:
- TD Bank and TD Banknorth
- Year Founded:
- 200 S 108th Ave.
- Postal Code:
- United States
- (800) 454-9272