Thumbs Down For TD Ameritrade
Anyone experience poor service with TD Ameritrade? There were problems early this week with former Waterhouse customers unable to log into their TD Ameritrade account. I was also one of those affected and the service was simply horrible. I was unable reach customer service because of the long hold times and couldn’t get any trades through. They gave me a couple of free trades for the trouble, but I’m considering moving my account to Fidelity Investments. I already have an account there and I’ve never had a single problem with them. I've also heard good reviews about Scottrade so that's another possibility. Reliability is a must in this industry.
posted by Money Turtle @ 9:38 AM
17 comments
17 Comments:
Since the transition to TD- service has been pretty crappy. My account is tagged with all sorts of intimidating messages- they've become highly agressive towards margin traders.
I'm considering switching as well.
Today was the worst:
http://moominhouse.blogspot.com/2006/07/ameritrade-sucks-but-i-love-streamer.html
Since TD waterhouse merged with ameritrade the service is been crappy, i am planning to take my business to another trading firm. TDAMERITRADE SUCKS, their system has been down on November 3rd, 2006 and November 6th 2006 during day time trading hours. This is total unacceptable. How can customers trade if they can't log in to the system. bunch of bull crap these guys are delivering.
Today (Friday Feb 3) it is unavailble for at least 2 hours. Unable to even view my account.
Monday same thing all morning.
I am not going to switch, but i am pretty disgusted with the service.
guess i should call and get some free trades... but that's not what i want, i want reliability.
Mark R
I experienced the same problem this morning... This really sucks. I've been doing more biz with Fidelity. I've never experienced any downtime / problems with Fidelity.
I'm surprised people think Ameritrade ruined Waterhouse. In my opinion Waterhouse was bad 10 yrs ago and bought Jack White and ruined them and now have ruined Ameritrade. You wouldn't believe the stories and every single need has always been screwed up for myslef, friends and family. Absolute atrocious
It took me three phone calls to get an answer from TDAmeritrade about why my deposit from my checking account had not gone through to my SEP-IRA After repeating myself 4-5 times, they told me that Ameritrade no longer can take electronic fund transfers.
Screw them. How do they expect people to save for retirement if it can't be done easily and automatically. Their customer service was awful.
TD's service in 2008 is still appalling. After too many mistakes on their part, rude reps, being hung up on, website problems, canceled transactions without my knowledge, I've had enough. I've fired them and am taking my business elsewhere.
I've experienced some slow down on their site during high volume days. The customer service reps are usually quick in responding to my questions. They'll offer a couple of free trades if there's a problem with their site. Of course, you have to ask for the free trades. They have improved a bit, but still a ways to go to catch up to Fidelity.
On Friday, September 19, 2008 I was already logged on to my account by 9:15 am Eastern time. At 9:45 I experienced the slow down everyone complains about and then I actually was logged off my account and could not log back in. I contacted customer service and they gave me the "we don't guarantee trades online" crap. They even had the guts to tell me that other services are experiencing the same problems...also crap since I was already logged on Etrade and HAD NO ISSUES WHATSOEVER WITH ETRADE AT THE SAME TIME AMERITRADE WAS EXPERIENCING PROBLEMS. At the best time to trade I found Ameritrade to be unreliable and their customer service even worse. I'm moving my three accounts to another provider. Any recommendations which one is more reliable?
I have back up brokers after experiencing problems with TD Ameritrade. Sometimes, I do experience problems with E*Trade, but never with Fidelity. I say Fidelity #1, E*Trade #2 and TD Ameritrade #3. I also have a Merrill Lynch if all else fails (not a good online trading platform, but what do you expect from full service). Good Luck...
I have been a customer of TD for five weeks and what a NIGHTMARE! The site didn't work 4 days in a row, that was just last week. Either can't log in, get bumped out or when I place trade I get "service temporarily unavailable". Phone lines have been jammed, if I do get through, I've waited 25 minutes, that is if the line doesn't go dead. Reps are rude, won't let you speak to upper management or any superior. I've been misinformed by several reps. They don't reply to emailed/faxed complaints. The make excuses about high volume and all sites are down, not true, Schwab and Fidelity worked fine. I tried to sell all positions and close account, orders couldn't be placed, site and phone down. I put in an electronic tranfer to withdraw funds, they cancelled my pending request... I can go on. I've lost a lot of money due to their incompetence.
...I strongly advise everyone to file a complaint with FINRA. TDA needs to be fined, again. While you are at it, file a complaint with the BBB. They can't continue to get away with everything. It doesn't matter to them if you simply walk away, so please file with FINRA.
I’ve been trading for 30 years. TDA is horrible. Their website is basically useless. On heavy volume days in the Fall of 2008 the site was unavaible or you got kick-off the system. Unexecuted limit day orders do not expire at the close - they rollover and show they’ll expire on the close of the next trading day. Try ‘changing’ a saved order - you CANNOT. Command Center 2.0 and Strategy Desk are absolutely worthless - dropped data, server problems, etc. TDA even cost me $30k in losses because they told me mutual funds transferred into an account would take 3 to 5 bus. days to ‘re-register’. After the market dropped dramatically in Sep. 2008, they back-peddled and said that the funds had been available for trading and that I should have called every day to check the status of the 6 incomng mutual funds. I sure miss my old TD Waterhouse accounts - now THAT was a great company.
I've been getting really annoyed at their execution. Recently, several of my market orders required the approval of a live person before it went through. When I put in a market order, I want execution NOW at the best price not later after waiting to approve the execution.
I use Ameritrade and their $5 web only service Izone account. Well I tried placing a trade on Izone which is the same as Ameritrade. It would not complete. I tried 3 times. Then I checked my portfolio to see if it had taken. Nothing in my portfolio. I emailed izone. they apologized. I place the order in Etrade instead. the next day I am down $2000 and own the stock which Izone says was completed in 2 seconds.
Since the transition to TD I am now unable to get money (earnings) transfered to me in Malaysia. Already had to fill up the LOI for wire transfer twice and still not seeing the sight of my money. Never had this problem with TOS. What is the point of making any money tru trading if we cannot repatriate our winnings. Lots of reassurances but nobody has come forward to really assist.
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