• Report: #388950
Complaint Review:


  • Submitted: Fri, November 07, 2008
  • Updated: Fri, November 07, 2008

  • Reported By:Henderson Texas
5455 N. Federal Highway Suite E. Boca Raton, Florida U.S.A.
  • Phone: 877-495-5464
  • Web:
  • Category: E-trade

Tradeking Not allowing me to sell my stock Boca Raton Florida

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Subject: Not allowing me to sell my stock.

account# 2582-8808

A few days ago on 10/31/08 I bought ( MGM ) when the stock started to tumble I tried to sell it, and tradeking sight would not let me. It returned a message saying:( that I was trying to sell a stock that not yet settled ). This cost me, I lost over a dollar a share so I called and I was told that I had to have a margin account in order to buy and sell up to 3 stocks in a 5 day period of time. so I opened a margin account and waited. After about 2.5 days I got a letter saying my margin account was now open, So tried to sell ( MGM ) and there sight let me. The next day I bought (s) and (GNBT). I held it for 2 days and then tried to sell it. Again there site would not let me. I got a message that said the account was restricted. So I called trade king and ask why. First I was told I bought more shares of (MGM) then I had money so the account was restricted for 90 days. I told trade king I did not buy to many shares that after I bought my shares that I had money left over. Then I was told that I sold MGM to soon. Well after I opened a margin account 2.5 days latter, I told tradeking there site let me sell (MGM) so I assumed that everything was alright because the only thing that will over ride there site, is if a person calls in and tell them to sell it. Which I did not. Trade king told me that they sent a letter saying that I was restricted, which they did not. ( I told tradeking check there sent mail and you will see that they did not send me a letter ) and even if I was restricted why did trade king allow me to buy more stock after I was restricted? And if I was restricted I told tradeking they need to reimburse me for the difference. The money I lost on the stock after I was restricted since I was not allowed to sell it. It seem to me a person can buy stock at Tradeking but they can not sell it. So I got fed up and called and asked trade king to sell all my stock, (S) (SIRI) and (GNBT) I had to argue with them for over 30 min. before you sold my stocks for me and it was falling in price.

Henderson, Texas

This report was posted on Ripoff Report on 11/07/2008 01:02 PM and is a permanent record located here: http://www.ripoffreport.com/reports/tradeking/boca-raton-florida-33487/tradeking-not-allowing-me-to-sell-my-stock-boca-raton-florida-388950. 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.

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