TD Ameritrade
Reviews and Complaints

Dear Srs., On Wednesday September 7th, after trading over 400 million dollars for 3 years at TD, they started charging me commission on every trade WITHOUT a PRIOR NOTICE The problem here is that I am not arguing with the fact that TD started charging commission in my account…I understand that for some internal reasons, it was decided that I should be charged on trades The problem is that this happened without any PRIOR notice. The last warning regarding the trades volume on my account, that mentioned a possible commission structure change, was sent to me via message center, on March 2022. The message stated a 30 day window for me to reduce trade volume otherwise my account would be charged commission on every trade. I have since then reduced the trade volume and even sent an email asking if my account was already on a new commission structure, when I received a last response stating the “NO, your account is NOT on the 2 dollar commission”. I have since continued trading every day, for 6 months, until last Wednesday, WITHOUT any prior notice, without any warning…any email, any TD Ameritrade 200 S 108th Ave, Omaha, NE [protected]-7856 If you have any questions or concerns, please contact the BBB assigned to your complaint: BBB In Nebraska, South Dakota, Kansas Plains & SW Iowa 11811 P St Omaha, NE [protected] Better Business Bureau® 9/12/22, 5:11 PM File Complaint against TD Ameritrade | Better Business Bureau https://www.bbb.org/file-a-complaint/0714-105000047/form 2/3 text…my account started being charged 2 dollars per trade. Once I realized that, my account has had already performed 800 trades…and paid USD 1,600 in commission…in less than 2 hours. I am writing all of this to you, to try again, before taking this situation to another route, to revert this unwarned charges from my account. I am not asking to have the 0 commission back…I am asking a refund from charges on my account that happened without informing me about that commission change. Please consider this email as an extremely serious matter, as TD was negligent in informing me in advance about a cost structure change in my account. A 6 months-old warning, with a 30-day window validity, should not be counted as a prior notice, specially after I have reconfirmed at that moment that my account was NOT on the 2 dollar commission threshold. Please advise. Thank you. Best, Guilherme Golombek

I heard about Mineworx Technologies MWXRF who has been working with a big recycler for over 3 years on a process to extract palladium and platinum from catalytic converters. The company is in the process of setting up a pilot plant in Tennessee and needed to raise $5 Mil to complete the project. Because their stock tanked with the rest of the market, instead of diluting by issuing really cheap shares, management decided to offer a Rights Offering to existing share holders targeting Canadian stockholders and US stockholders by filling out an Exempt Purchaser Status Certificate. On the cutoff date of July 18, stockholders will be issued 0ne Right equal to one share of stock. After the Sept 12 cutoff, there will be a divide by 2 reverse split. I received in the US Mail from TD Ameritrade a packet dated 7-21-22 containing 2 Exempt Purchaser Status Certificates ( for US shareholders)from Mineworx and instructions from TD. I sent in my form for my 103,800 shares and it was accepted by Mineworx and they are now waiting instructions from my broker, TD Ameritrade. When I called TD about my next step, I was told that someone at TD Ameritrade decided not to honor the deal. After several lengthy phone calls, nobody has been able to give me a legitimate excuse of why I am not eligible for the Rights Offering other that I am not a Canadian resident even though I have the accepted waiver and that it was a corporate decision. Speaking directly with the Mineworx CFO, I was informed that the Only broker that they have had a problem with this offering is TD Ameritrade. If every other broker is fine with this deal, why is there a problem with TD? I have a large position in Mineworx because of the large upside potential. Because some Bonehead at TD made the decision Not to honor my Rights Offering, my position through No Fault of my my own, will be diluted 50% because I am blocked by TD. An attachment that was on an email in my account mail eluded to some type of stocks being not eligible however, this Rights Offering is for the Same stock TD sold me in 6 or 8 tranches ( fees paid) I have 103,800 shares plus the 103,800 Rights = 207,600 after reverse split I would be back to my original 103,800 shares. Without this Rights Offering after the reverse split, I will have only 51,900 shares or a 50 % Haircut thanks to some mental midget at TD Ameritrade. I need this resolved quickly, there is a cut off date of 5PM (Toronto time) Sept 12. After that, my 103,800 Rights will be sold to somebody else for $1557.00 ( a steal courtesy of TD A) The funds needed are in my account, all I need is the unblock from TD and them to contact Mineworx and I will be good to go

Hi,

I recently deposited my rent relief check from the Federal Gov Grant for the COVID-19 pandemic and as soon as they received my check deposit of $16,500.00 TD Ameritrade then closed my account leaving my rent funds inaccessible. I have been locked out of my account in order to upload any type of documentation supporting the reason and origination of the check deposited. Please help me get my funds so that I can pay my landlord and not become homeless. I have already been waiting more than 6 months for the payment to be approved once it was I deposited it into what I thought was a legit company. I was unfortunately wrong.

Thank you,

Pablo Lopez

Roughly 2-3 weeks ago received email my account was froze for fraud investigation,I’ve tried reaching out to bank for explanation of why and hopefully help by giving details needed to speed process but no go,claim I’ll have to wait 60 days to get answer,meanwhile I’ve got 10k that I don’t know what’s going to happen if they find some stupid reason to say fraud,it’s a new account I opened to put money I received from progressive insurance for my stolen Harley Davidson motorcycle it’s not hard to find that the moneys legit only thing I can think of is I took some out on two checks cause of debit card taking longer than expected to receive it had been nearly 3 weeks and still no debit card so money movement I thought but after opening account I found out I had 95k coming to me from a trust fund when Chase bank tried to to wire $$TD Ameritrade after I gave the them instructions that TD Ameritrade gave me on how and where to send $$ it failed so called them to see what was going on they gave me another routing # they said the one I had for my account was wrong but even with other routing # it failed again chase bank manager advised the party who was distributing money to send cashiers check to walk it in to disposition but in this time needed more money so asked for another check but this time I had to have sent to original address I signed up with cause 2 weeks earlier I got a P.O. Box from a small business who had a notify service and background check service checking FBI Background check and visual if service her lil P.O. Box”s were cheap a 20$ a month service not the typical large P.O. Box’s of 50 month or larger so I got and changed mailing to P.O. Box but only hassle with that the woman who owns the shop went on vacation for a week Aug 22nd through the 29th so I’m order to get check I needed I had to ask them not to send to P.O. Box. This one time so I could access check,the P.O. Box with here is not as you would see at post office and other sites she has a hold box she keeps it in I get it from her when I go pick up mail they said I could do but that night got email saying check cancelled and account froze for fraud. So it’s one of the two changing the address cause I couldn’t access for the week or the two failed wire attempts from Chase Bank cause of wrong routing #s so it’s not like they have a ton of work to check out if I committed fraud I can’t believe it would take 60 days.

What worries me is all the theft banks are involved in I had Wells Fargo take me for nearly 3 grand last year playing what I called the Shell Game,shuffling pending and posted transactions to confuse you ,it was so bad I couldn’t even micro manage it as for turning them in all services to report failed consumer help from the agency said they didn’t handle and major federal help asked I file online as did other report I realized lose lose situation and as soon as TD Ameritrade started this crap with wire I was already thinking a ploy to take money but didn’t know how they would pull it off but after freeze it made sense there it was put a fraud investigation on and as I found out online they could keep money if they found fit I was fraudulent so now what I’ll have to fight with money I shouldn’t have to spend to TRY and get it back, so it looks like I could be out 10k from a bunch of brokerage thieves some of the best who play pump and dump games to take peoples money now they are losing this year as stocks fall they will try any means to recover money,what are my options to get this resolved sooner than 60 days it was a new account with no deposits just the one from progressive insurance that shouldn’t take a month to find out it was legit money? Plz help

Hi, My account is suddenly closed and I was found that somebody was trying to transfer my account to some other account from etrade.

I have been continuously following up with the customer care but I dont see any progress happening and unfortunately no one is showing seriousness on this breach as well.

I am planning to raise the issue with consumer court as I am not getting any support from your side.

my contact number - [protected]

TD not only managed to lose me nearly 10 grand in a matter of months (because they couldn't possibly care less about making you money if you don't have huge investments in them apparently), but after consistently losing me money, they only let me pull out roughly 50 grand of the 60k that I had invested and refuse to let me close out my account - all while these drooling idiots continue to lose money on the 10k of my money that they are keeping hostage and refusing to hand back to me. Their obtuse, complicated and clearly intentionally difficult account closing process is ridiculous, requiring multiple pieces of complex unnecessary information and personal calls to their horrible call center to wait an hour or more to speak with a representative - which, by the way, you can ONLY call during monday to friday 9-5, so screw you if you work during those hours, which I do.

Spent over an hour straightening this out. Now see they did the same under a different "user ID." Ridiculous. They probably can't read the device correctly and so what if they can't? Insane.

How to deal with TD Ameritrade's robbing your money by manipulating Bid/Ask Quotes?
Previously, TD Ameritrade was an honest stock/futures broker with good customer service. But it has changed dramatically about 2-3 years ago since it was merged with Charles Schwab. Now you have to be very cautious about its stealing/robbing your money. I have experienced many times of its TOS platform freezing quote to prevent you from closing your winning trades. On 12/19/2021, when I was placing an order for ES2 (SP500 futures) options, the showing ASK price was ~42, but TDA filled my order at 60 by suddenly widen the Bid/Ask spreads from ~41/42 to ~20/60, which immediately led to ~$1000 loss of that trade. This enlargement of spreads lasted only about 2 seconds during order submission, and then back to normal spreads level. After I reported this to their trading desk, they refused to refund my loss and insisted it was not their fault, saying price slippage is normal! It was a shameless Manipulation of Bid/Ask Quotes! Dear traders, stay away from this ugly broker, it is not a trustable broker anymore!

Two years with TD Ameritrade and significantly lost 20, 000 in 6 months, inspite of making profitable trades. The customer services is unethical, simply refused to listen to customer complaint, nor investigate what happened, but simply hanged up the phone today 12/2/2021

They came up with new reasons every time I called why I am having a margin call. Being a financial investment company, very unethical behaviour, lost 20k and unable to find out what happened with my account.

who every has done this manipulation (margin department) should be charged with mishandling of customer 's money.

Also they do not even have a proper email system, but negligently sends emails in HTML. very irresponsible behaviour having people's money in their brokerage firm

Rejected my cancellation of order prior to open on 11/22/2021. Nasd rule against cancel order 5 min before the open.
At the open tried to sell the stock I that I had changed my mind on and had been bought against my intentions. But that got rejected.
They claim it was because I didnt own the stock that they just bought against my will. There were two orders one for 500 shares and one for 100 shares.
I owned 500 shares at the time i placed the order. I can only surmise that the second order was due to me retrying after it got rejected for the 500 shares but I didnt have time and wsnt aware that it changed from 500 to 100 the default value. So they rejected both orders. and instead of me loosing 22 cents a share I ended loosing $4.20 a share. I feel grossly cheated and they offered no resolution.

Every single time that I call and ask a question, I get a different answer. This is a SERIOUS issue considering the fact that this is a financial investment company!

I could ask the SAME question, word for word, to three different phone support reps - on the SAME DAY, and all three times I will get a slightly different answer. The answer may be slightly different, but the points made within those answers are significant enough that it causes my actions to have an entirely different outcome.

It doesn't matter who I speak with, be it regular phone support, or a licensed broker, every single time I ask a question, I should get the EXACT same answers from their staff... but such is not the case!

This causes extreme confusion when using their platform, and ends up costing me costly financial mistakes and mishaps... of which they of course would never accept responsibility for.

I like everything about his company and their online platform, but I absolutely despise using their customer service. Granted, their customer service is very nice, joyful, and willing to help, but being friendly doesn't cover my assets when their confusions costs me hundreds, or even thousands of dollars in mistakes.

I tried to open an account over a month ago. I completed the application and overnight express mailed it in along with a certified check. All was received on August 11, 2021. Supposed to take 1-2 days to process. Thought I would be trading by now but no. Account still not open after 2 weeks. Every time I called they need this or that. No one has ever called, emailed, or faxed me anything to tried to get my application processed.

So after several weeks, I requested a refund. After 4-5 phone calls, they claim to have finally put it in regular mail. Untraceable no idea when or if it will arrive. I have no idea that it was even actually mailed as they stated.
I was told previously on August 25th that the check was mailed. If it had been mailed then I would have received it by now. But no, I call back and the check is still sitting on someone's desk.

Why couldn't my funds be returned to me as I sent them? Priority or Express mail. Jonathan Heath one employee that I spoke with promised that the funds would be return to me priority mail. After more than a week no mail. I call back only to find out that it may or may not have went out via regular mail. I am extremely disappointed how they are handling this situation. I expected this company to be much more professional than what has been displayed. Work Item #[protected]

I had Morgan Stanley transfer about $41, 000 in my SEP/IRA to an account I opened at YD Ameritrade. I then closed my account at Morgan Stanley. Then TD Ameritrade closed my account with them for unspecified "fraud" that never happened. Now, after my request that it mail me a check for the amount of the transferred fund, my contact- Monica Kim of the Annapolis, Maryland office- has told me that she can't do anything because it's up to the fraud department. I finally told her to have TD's attorneys call me (I am an attorney myself).

I need my money. TD indefensibly closed my account and is now holding my money hostage:

In January our office sent in paperwork to have funds transferred from the account of Gerald Scharenbroch (acct. #[protected]) to an account of his ex-wife, Doe Scharenbroch (acct. #[protected]) pursuant to a judgment of divorce. More than 5 months have passed, and the funds have not been transferred. I followed up with a letter in Feb. as well. We submitted the required form, IRA Authorization Form To Transfer Funds Due To Divorce, and have not heard anything from the company since.

Attorney Mike Lambert, [protected]@klfgllp.com [protected]

Hello,

I've been a customer of TD Ameritrade since 2015, over 5 years. Over the years, I've made money and lost money. Unfortunately, I've lost more than I've made. In all that time, whenever I've had a loss that I was responsible for, I took the loss and moved on. I understand that you can lose money in the stock market. But on 4/12/2021, a strange thing happened. I purchased a stock on TD Ameritrade's website at 9:33 am, PBTS, and immediately after the purchase the price dropped. Darn, another loss. Oh well, I go to sell my shares and close my position. But nothing happens. I try to close my position again, the app just refreshes, takes me back to the sell screen and doesn't place the order. I do this a few more times but I keep getting the same thing. I jump over to the app on my phone to try and close and it just sits there loading. It won't allow the sale. I then jump back on the computer, pull up the Think or Swim app and try there but nothing. All this time the price is just dropping. Finally, after about 8 minutes, the order goes through on their website at 9:41 am. But the order's rejected. The price is still dropping. I try to close the position again but I get hit with the same thing that was happening before. The platform either kicks me back to the sell screen or the app just sits there. Finally after 12 minutes the sell order goes through again at 9:53 am. But again, the order to sell is rejected by TD Ameritrade. The price has dropped so low that I almost pass out. So again I keep trying and about 30 seconds later the third order goes through and TD Ameritrade finally allows me to close my position. It's now been over 20 minutes and I've lost a lot. I get TD Ameritrade on the phone and tell them the issue. A man by the name of Luke Hadley tells me that it's too bad but there's nothing they can do. I press them and they refuse to rectify the situation. Even though they see on their end that their system rejected my orders. So finally I get escalated to a man by the name of Jeffery Stezovsky. He says they'll agree to do a "price correction" and change my sell price to the price of my first rejection and says this will be done by a man named Nathan Maxwell. I tell them that this isn't good enough because my first rejection happened over eight minutes after I tried to close my position on three separate platforms. In that eight minutes, the price dropped over .27 cents. They tell me that they won't do anything more. I remind them that in the 6 years that I've been with them, I've never called and complained about any of my orders if I made money great, if I lost money then it was on me but in this instance, they're system prevented me from selling my shares and as result I get robbed by them. They said they see that but it doesn't matter. They said they can only go by the orders that show up in their system. I remind him that the two orders that they rejected were over 12 minutes apart and obviously I would continue to try and close my position during that time so something on their end must have been preventing me from closing my order all that time . They tell me that it's too bad. According to Mr. Stezovsky, they rejected my orders because they weren't able to sell all of the shares at the same price so they were afraid I'd lose money. But that doesn't make sense because if you reject my attempts to sell the shares while the price is dropping and don't even tell me the reason, then I will lose money anyway. Also, on almost every order where I purchase or sell shares at market price, all the shares don't get purchased or sold at the same price. They almost always fill my order at different prices. That's because I chose, Market Price and not Limit. They know this. If you buy or sell at market, then they will buy or sell your shares at whatever the market price is at the time of the purchase or the sale. That's always how it works. But for some reason today, they didn't want to sell at market because it would make me lose money so instead they rejected my orders so that I lose money? It makes no sense and it's clear that TD Ameritrade has worked to rob me. I want my sell price corrected to the price that I tried to sell it at the first time and then I'll take my money and leave TD Ameritrade alone. TD Ameritrade knows that timing is very important when trading and all the time it took me to navigate their failing system resulted in a huge loss for me but a big gain for them. And again, this was because they're system was glitching so I shouldn't be penalized for their error. First the system wouldn't allow my order to go through and when it finally did allow it, they system canceled the orders on it's side and all that time, while their system was malfunctioning, I was losing my money to them.
I've attached four pictures. The first one will show the two orders where I was trying to sell and where TD Ameritrade rejected my attempts. It will also show the time gap in between the two rejections and I'm showing this to show that I was trying to sell the shares for long time and the system wasn't even allowing me to place the order. That's why there is a 12 minute gap in between the orders that they did register and then rejected so that I would lose money.
The second picture also shows this but I wanted to include this one because the rejections don't even list a reason as to why the orders are being rejected so I'm left in the dark while TD Ameritrade is siphoning money from my account.
The third and fourth pictures show the two sell orders that finally did make it through to TD Ameritrade, the ones that they rejected. In these pictures it shows that there was no reason given as to why these were canceled/rejected by them. The instructions actually say "NONE". So I wouldn't even know why they're not selling my shares when I requested it.

When filing taxes for my late husband (who passed from stage 4 pancreatic cancer last November 2020) and preparing our joint taxes, I came to the realization the TD Ameritrade sent one of his state tax filings in his disbursement to the wrong state (MI), where we lived over 2 years ago. But they sent in another disbursement and state taxes to the correct state, where we are living (SC). When I called and spoke the a representative from TD Ameritrade about sending me a corrected 1099-R, at first they wanted to prove that I was the executor of my late husband's estate, and then they told me to take it up with the IRS! They admitted that they sent the state taxes to the wrong state. So they told me I now had to file a state tax return to a state we haven't lived in in over 2-1/2 years! That cost me $58 filing for another state through my Turbo Tax account.

It is regretful for a company to be to arrogant and careless to not correct the problem, but instead pushed it off on the widow at her cost.

Don't believe me? Check out my late husband's account. #[protected], Document ID:S090 FE4 M6RU

Richard Lyman. XXX-XX-1276

Any questions, feel free to give me a call.
Laura Lyman
[protected].

I called TD Ameritrade to place a trade only to be told by a representative that my account was frozen because of suspected fraud I asked what the procedure was and if I could speak with the fraud department I was told no I could not speak with them that I would receive a letter from them two weeks later no letter no phone call no email nothing I called back I was told that I still could not speak with the fraud department and my account had been closed my money is still with TD Ameritrade please Tdameritrade what is going on ?

After TD Ameritrade purchased my Scottrade Account, I requested (several times) to close the account and issue a check. After several requests, they indicated that I OWED them and there was a negative amount in the Account (KMM97964870V62915L0KM). These requests were made 3 years ago.
From: Jerry Dowdy
Date: Tue, Mar 13, 2018 at 11:58 PM
Subject: Re: New Accounts (KMM97922635V50135L0KM)
To: TD Ameritrade - New Accounts

Why do I have to jump through hoops to please you? There was nothing wrong with my log in with the Scottrade system. Then for some reason YOU decided to fix it so that I could NOT log on, just put it back the way it was.

On Tue, Mar 13, 2018 at 9:09 AM, TD Ameritrade - New Accounts wrote:
Hello Gerald Dowdy,

Thank you for writing, I'm glad you did!

Thank you for contacting TD Ameritrade and we do apologize for all this confusion and frustration the security questions have caused you!

When importing over some client account information, we had an issue with a small number of accounts. From your message it seems that this might be your issue that you are dealing with.

All information was able to be brought over for logging in from Scottrade except the security questions and the answers for those small number of accounts. When that happened, our system randomly assigned security questions that did not include any answers. That is why you got such a question. We do deeply apologize for this issue! Unfortunately, due to our strict security policy, you'll need to call in so this can be resolved.

Please call us at [protected] any time 24 hours a day, seven days a week when it is most convenient for you. We can then reset them for you so you can re-create them how you like. I also must let you know in advance that we are not able to accept instructions regarding an account through standard e-mail so this must be done over the phone.

Once again, please accept our apologies on this matter and we hope to hear from you soon.

Please reply to this email if you have any questions.

Thank you for choosing TD Ameritrade,

Kevin Houlton
New Accounts, TD Ameritrade
TD Ameritrade, Inc.

Never Miss the Action. Follow us on Twitter: https://twitter.com/TDAmeritrade or https://twitter.com/thinkorswim

I have been trying for over a month to withdraw funds from my account.
The funds were taken out of my account but are being withheld and not released.
After weeks of calling customer service a vice president is now involved. He also is unable to get my funds released. The scapegoat is some unnamed separate bank that actually controls the money but apparently is not accountable to TD A meritrade..
No one seems to care about my problem.

I was a Scott Trade Customer when TD Ameritrade bought them. I did a check of Reviews of TD Ameritrade, 30 of the first 34 that I viewed were negative. I ask them, in writing, to close my account. They invented some kind of Security Question which did not exist with Scott Trade? Eventually after several contacts they said that I owed them money?
You are seeing this because, I just ran across my request for the account to be closed, it was dated in March of 2018.
As far as I know this is the Account #: KMM97964870V62915L0KM (the "0" may be O?)