Interactive Brokers Bait-and-switch- Lost over $200K plus potential profit of $500K due to IB misleading account transfer from TD over $250K Account on Margin Power Internet

 We had corporate investment account with TD Ameritrade (Global eBusiness Serivces, Inc since 2003 and due to false and misleading advertisements on Bloomberg TV by IB that if you have account over $200K, IB will give you a loan up to $1M at 1.2% against for portfolio account with IB. Upon this attractive offer, we ended up calling IB and spoken to sales rep and disclosed that we have account with TD over $300K values holding over 400 great companies low price (due to stock market fall since 2006 to 2008) we invested in those due to great low price stock values, they were all great companies and low price securities in our corporate investment account with TD. The IB sales rep induced us with a confirmation that IB does give you absolute margin power on all the securities less than $5 values, which mean increasing our margin power 50% and buying more stock if going with IB. Which we did not have leverage with TD, Upon this appeal power and greed shown by IB sales rep, we ended up putting request with TD to transfer all our over 400 securities to IB, which TD did not like it and took over 30 days intentionally delaying transfer to IB while we had no  access to our investment account and unable to make any trade due to freez while we saw our account melting and reducing in values due to fall in May 2010, we notified and filed compliant with TD about delay, no action was taken lost thousand of dollars due to this TD to IB security transfer request in June, 2010. After all the securities had been transferred, and IB analyst carefully analyze each and every holding securities and adjusted margin by increasing more buying powers to add more securities into account, given them more buy securities commission, after 2 and ½ months of our account holding and trapping us with IB, they contacted us about that any securities you have under $250K volume cap, will not carry on margin and going as cash without margin given by IB, which felt a total disaster, a trap by IB and we forced to  liquidates our over 500 securities holding accounts to the lowest price- that account if was not fraudulently taken by IB from TD would made us over $750K by now.

We ended up losing most of our money due to IB direct bait and switch strategies. Which worked excellent making them great commission and putting us on street and making me sick in health.
 
We reported this matter to FINRA, and they are broker’s puppets and feed by broker commission, no detail investigation was conducted, just wasted time. I gone through medical sickness and left this matter unsolved until now taking proper step notify the individual and fund investment consumers community to stay away from Interactive Brokers directly low cost commission and margin increase greed which they used to bring more money and making investor take heavy losses due to their stupid in-house practice, which FINRA has no issues being as broker puppet.

At this time, I seeking some good securities attorney to file a law suit against both, TD Ameritrade – Cause of action is intentionally delaying and freezing our accounts over 30 days holding over 400 securities with no access or ability to take buy or sell and only seeing account melting in front of our eyes and taking losses.  And for IB –Cause of Action is for IB for misleading and fraudulent marketing practices having a large account transferred with an increase margin promises and then forcing to liquidate account by reducing margin using in-house 250K market cap volume requirements after transferred our account using a total bait and switch strategies.

If you need any information, please contact me at alex@esecurityauditors.com,

Phone 951-267-1000.

Please stay way from IB bait and switch and protect your hard earned money. We lost over $750K (Invested money + Potential Values Up as per date) if our account was not forced liquidate or not transferred from TD Ameritrade to IB.

I will file a lawsuit against both brokerage firms due to their unprofessional action which caused substantial losses to us.