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Report: #1273238

Complaint Review: Scottrade - San Luis Obispo Nationwide

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  • Reported By: Robinhood — Shanghai - China California USA
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  • Scottrade 285 Madonna Road, Ste B Nationwide USA

Scottrade Scottrade Bank My Scottrade Account Was Hacked - Scottrade Refused To Restore $800,000 Of Stolen Funds San Luis Obispo Nationwide

*Consumer Suggestion: 800,000.00

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I have had issues with my Scottrade Bank account ever since my account was improperly accessed (hacked) and Scottrade Bank has refused to investigate the fraud and unauthorized transactions that occurred. I've attempted to go through Scottrade Bank's internal dispute resolution procedures but, thus far, Scottrade Bank and its compliance department have been enormously rude and failed to acknowledge my dispute or provide instructions on how to remedy the situation. For over 6 months, I have been asking Scottrade Bank to provide me with a copy of the arbitration agreement Scottrade Bank says I signed. However, to date, Scottrade Bank has been completely unwilling to discuss the arbitration agreement or how to resolve the situation. If I had known that Scottrade's actions would have been so unhelpful, I would have closed my account a long time ago.

This report was posted on Ripoff Report on 12/10/2015 01:20 AM and is a permanent record located here: https://www.ripoffreport.com/reports/scottrade/nationwide/scottrade-scottrade-bank-my-scottrade-account-was-hacked-scottrade-refused-to-restore-1273238. 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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#1 Consumer Suggestion

800,000.00

AUTHOR: Parker - (USA)

POSTED: Monday, May 16, 2016

 FOR REAL, EIGHT HUNDRED THOUSAND DOLLARS..........It seems that you might have added a couple two many zeros. If they are taken off then you now have $80 in the bank, or should I say had $80 in the account. People that have millions of dollars with financial institutions have built in protections in place to safe guard your assets. Scottrade is also a bank. It's FDIC insured. Anybody that has a legitimate bank account automatically has FDIC insurance up to $250,000.00 in this day and age if somebody were to "Hack" your account it would be extremely easy for the authorities to trace back and find the culprit or culprits. Every part of your account is documented, from the deposits to transfers and withdraws. On top of that, if you actually had a billion dollar corporation steel funds from your account you would have every attorney within the US wanting to represent you pro-Bono, on a contingency basis. On top of that your talking about Scottrade. They do not need your money. They would never risk the state of their corporation to gain the amount you claimed they stole from you. In 2015 they reported income of $306,308,563.00 I honestly do not think they need to cheat anybody out of anything. I can honestly say that when I first opened my account with Scottrade about 10 years ago their were issues that occurred and did not seem right, at the end of the day it was entirely my fault. Making trades incorrectly. Now that I've learned the right way to handle my account the issues have gone away. Just thinking about some of the mistakes new investors make, if you were to make the same mistakes running on your own brokerage license on Wall Street they would lock you up. All in all I would say Scottrade is one of the best trading platforms available. They have competitive rates and are available to help with any questions or issues that should arise. (For the new traders learning) Either on the phone or in person. If your thinking about increasing your income and want to possibly trade, give them a call. Information is always 100% FREE.

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