Ameritrade

Michael of Fern Park FL (11/12/07)
I funded my account with Ameritrade on August 17,2007 with 100 thousand dollars and in accordance with their advertising I was suppose to be an Apex Investor and deal only with Experienced Licensed Brokers. Well, in two months I lost all of my hundred thousand dollars. I filled out my application in writing, on line, and it stated I had less then one year experience. Ameritrade, Manny, changed my information to read 3 to 5 years experience and put me on margin and options trading.

Ameritrade has another way to become an Apex Investor also. If you make five trades a month for three months you become an Apex Investor and deal exclusively with Experienced Licensed Brokers. This is false, deceptive and misleading advertisement on the internet.

I told Manny that I had quit working in July of 2007 and that I was not working at the time in August 2007. Losing this 100 thousand dollars on margin trading in two months has took away from my retirement. I am presently not working and actually had to quit work because I was sick. I dont know if I will ever be able to do roofing again.

This is devistated me and I am sure hundreds of thousands of other novice investors who beleive the false advertising by Ameritrade. Ameritrade loves those five trades a month for three months because they can make tons of money from it whether the investor wins or loses.

I talked to one of the head guys in the corporate office in Nebraska and he said its my fault, I was trading alone and that they would not reimburse me. Mr Marquez went on to say that I was not the first one to go up against them in the last three years that this Apex program had been in place.

Helen of Clearwater FL (08/24/06)
TDAmeritrade stiffed all who own Voda fone a $20.- Mandatory reorganization fee for the 7:8 reve rse split. They also charge a $30.- fee for assign ment of a covered call while adver tising $9.99 +0.75 per contract. They call it standard fees, but no other broker charges for involuntary transactions.

They are adding insult to injury. Folks should move their accounts on outta' there

Cindy Cope of Ormond Beach FL (01/31/06)
I called to cancel my account and they told me they would post date a check and it would be in the amount of $2629.06. Then I got an e-mail stating I was receiving a check in the amount of $2527.13. When I brought this to their attention they said they could refund me their fee which is $47.98 and they would review the taped conversation. They called back and said that that the part of the conversation that they said I would receive a check for $2629.06 was not on the tape. They lost it. They still owe me $53.95. Can you please help me.

John of Brigham City UT (12/17/04)
On Wed. morning, Dec. 1, 2004 at approximately 7:00 a.m. Mountain time, I checked my Ameritrade account #774793269 to see what RCO was doing. RCO was moving up in price. It showed that I still owned 60,000 shares and decided to sell 30,000. At approx. 7:10 a.m. I put in a limit order to sell them . A short time later they were all sold.

When I saw this, I re-checked my Ameritrade account and it showed that I now owned 30,000 and had sold 30,000 shares. A while later I checked my account balance again and found that it had credited the sale to my account and that I still had 30,000 shares left. That evening I checked my account and printed my balance page. It showed the exact amounts as earlier that day. I also printed my positions page and noted that it showed my 30,000 shares as short position, but it also showed 1,000 shares long position.

On Dec. 2 & 3, 2004, I called Ameritrade and told them that I checked my account and the number of shares was confusing and I thought them inaccurate. Both times I was told that the account would all be straighted out by Mon. Dec. 6. On the evening of Dec. 3, 2004 I checked my Ameritrade account and found that my money had been moved to unsettled cash, and that I did not have any money available for trading or withdrawal. On Saturday, Dec. 4, I checked my account and found that I had cash available for trading or withdrawl, but the amount was less than I had before I sold any RCO stock and the position showed no stocks owned.

I called Ameritrade again. This time I demanded an explanation of what was happening to my account! I was told there had been a REVERSE SPLIT on Dec.1 and in order to sell 30,000 shares of RCO stock, they had to buy 29,000 more shares of RCO in order to match the sale I had ordered. I asked him why my account had not been accurate on Wed. morning, Dec. 1 ? He said that Ramp Corp. had not notified them in time and that Ameritrade was justified in doing this.

I asked why was I allowed to sell stock that I didn't own and that you were allowed to buy stock that I had never ordered. Why wasn't the sale just denied? Why didn't I have access to the money that was not involved in the RCO sale? He said my account was frozen. Ameritrade is justified in this action.

He asked me what could be done to make me happy? I told him I wanted the money from the sale back in my account He said, That can never happen. Can I give you some free trades?. My reply was that I didn't want free trades, that is no settlement in this. He said free trades would be a good-will gesture from Ameritrade.

Larry of Aberdeen NC (12/07/04)
I am outraged by the mistake that Ameritrade made causing me to owe them $39,017.00. It was over a stock named RCO in which I owned 95,172 shares in. On Tuesday November 30, 2004 near the end of the regular trading day RCO released news stating that they were going into a 60-1 reverse stock split. I watched the stock after hours late into the night to see if the news was going to change the stock price.

The next morning on Wednesday December 1,2004 I woke up early just to see what RCO might do. It was 8:00am that morning when I went into my Ameritrade account. When I looked into my possitions it still showed that I had all of my shares and that the split had not yet gone through. RCO was moving higher that morning and I put in a sale to sell all of my shares at market at 8:05am.

It took about 23 commission trades to execute all of the shares but every one of them was filled at a range from .30-.452. I was elated thinking I had earned about $32,000. I continued to watch the stock rise higher and at one point I saw the stock halted. After seeing the stock halted it raised a red flag for me. I went into my account and the money I had earned was indeed posted to my account but on further investigation of my account I saw there was an N/A posted in front of the shares I sold.

I called Ameritrade and spoke with a supervisor named Micha who stated to me that instead of me making money in the shares of RCO i sold that I now owed Ameritrade $39,017.00. They said that I was oversold in my RCO shares, but when I checked the possitions all of my shares were there. Mr. B stated that he contacted the market about the issue because of the number of investors that had been in the same situation that I am but the market denied Ameritrade on the request of a bust trade.

Ameritrade wants their money, and frankly so do I. I could not have sold shares that were not there to be traded. For Ameritrades mess up, now I must pay them. Where is the fairness in this? I don't even have $39,017.00 invested into Ameritrade. I printed out everything from my computer showing where all my shares were sold and filled by Ameritrade. I printed my account showing where I was credited with the money I should have made from selling those shares. Ameritrade entrapped me as well as others into owing them money that they now want.

Ameritrade has frozen all three of my accounts and one of them did not have RCO in it. Ameritrade went into my accounts without my knowledge or approval and rebought the shares they said I oversold. We want a bust trade. FAIR IS FAIR.

Sharon of ASPEN, CO. (07/17/02)
I opened an Ameritrade account in mid July. One of the inticements to open the account was 8000 United mileage Plus award miles. Ameritrade stated the miles would be posted to my United account in 2-3 weeks. I checked the account today and no miles-so I called Ameritrade. The rep. said the miles take 4-6 weeks and you will get half the points, then in six months the remaining. This is entirely different to the advert and verbal represntation.

I feel this is a dishonest, and false advertiment.

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