Report: #319675

Complaint Review: TDAMERITRADE - OMAHA Nebraska

  • Submitted:
  • Updated:
  • Reported By: Acton California

TDAMERITRADE They tell you, you have money to buy stocks but DO NOT tell you that it also includes your margen account that you pay 9+ percent intertest ALSO THEY BUY YOUR STOCKS AT THE PRICE THEY WANT WITHOUT ASKING YOU OMAHA, NE OMAHA Nebraska

*Consumer Comment: This might clear it up

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I went to my TD ameritrade account to see if I had any money in my account to buy some stock and to my supprise I had over $4000.00 in my AVAIL. FUNDS FOR TRADING so I looked at all the infomation on the page and no where did it tell me that it also include a mergen account (that I didn't know I had) so I thought that maybe I had made some money on div. so I bought some stock asking a price of $6.50 a share, so it goes thru and I get my conformation that it went thru EXCEPT that it says I bought it at $6.5333 A SHARE I don't recall (wait I didn't) ok for them to buy at a higher price. I am sorry but if they are going to charge me $9.99 a trade and they set the price then buy it with mergin money @9+% interest that I didn't know I had knowing that they are going to make money on my money. I feel that they should care enough for the customer to tell them that this is going to cost you interest on this money, but I guess they are hurting so bad that it is best to discieve then to tell. If I had it to do all over again I would NOT TRADE WITH THEM. Now I find out that for me to move my stocks it cost me to get my certifictes it cost me, if I don't buy stock all the time GUESS WHAT it cost me. So don't beleive all the talk about careing, It just an't there.

Man in acton
Acton, California

This report was posted on Ripoff Report on 03/20/2008 12:02 PM and is a permanent record located here: https://www.ripoffreport.com/reports/tdameritrade/omaha-nebraska-68103-2760/tdameritrade-they-tell-you-you-have-money-to-buy-stocks-but-do-not-tell-you-that-it-also-319675. 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 Comment

This might clear it up

AUTHOR: Drew - (United States of America)

POSTED: Friday, February 10, 2012
In your TDAmeritrade account there is a box that states your cash balance, margin balance, available funds for trading, Stock buying power and options buying power.  You should've easily been able to see that you only had 2,000 in cash so I would assume that is your fault for not paying attention.

Secondly for buying a stock at a higher price than you wanted, did you happen to use a limit order or a market order.  Because a market order will buy/sell at the market which doesn't guarantee you a price you want.  If you use a limit order to buy the order will only execute at or below the set price. 

Not sure what you mean about them charging you if you don't buy a stock since there are no account fees for my TDAmeritrade account.
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