Report: #358909

Complaint Review: TD Ameritrade

  • Submitted: Mon, August 04, 2008
  • Updated: Mon, August 04, 2008
  • Reported By: Monterey Park California
  • TD Ameritrade
    1005 N. Ameritrade Place
    Bellevue, Nebraska

TD Ameritrade Rips Off Minister 1000s of Dollars Omaha Nebraska

Show customers why they should trust your business over your competitors...

I was caused to lose at least 1600.00 when Ameritrade wrongfully liquidated 73,000 dollars of my stock to meet a maintenance call that I had already met the day before. On the company's website, after I liquidated the stock, there was reflected 450.00 regular buying power on my account. (Regular buyihg power only appears when their is no equity deficiency in an account). A day after they liquidated my stock for the price they did, I could have received at least 1600.00 for the sale of the stock.

They also have cost me much money by violating their company's policy of not issuing a maintenance call when a deficiency is below 1000.00. Last week they issued a call when I had a deficiency of only 93.00 - forbidding me from trading that entire day.

Today, they have issued a call for a deficiency of only 209.93 - again, preventing me from trading throughout the day.

Last week I sent repeated emails, but they did not remove the call. Today, I have sent 3 and they have not responded to the emials or removed the maintenance call from my account.

They also unscrupulously sold 1495 shares of my stock on the FIRST day of a maintence call., when both the NASD and the DJIA were up and my stocks were up! Their policy is not to liquidate until after the 3rd day a call has been issued. They could have only liquidated a small portion of what they did, but their sale cost me 2,500 dollars at least. I would encourage any investor to go instead with (((competitor's names redacted)))- both of whom I had no problems with in years of trading with them.

Monterey Park, California

sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company,, if you post a competitors name more than likely they will show up on search engines as a Rip-off! - - your comments on this policy are welcome. CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report. In this case we removed an alleged competitor's name
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This report was posted on Ripoff Report on 08/04/2008 09:25 AM and is a permanent record located here: The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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