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ThinkorSwim and TD Ameritrade Warning
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ThinkorSwim and TD Ameritrade Warning

  #1 (permalink)
Elite Member
zürich/ switzerland
 
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philipp's Avatar
 
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ThinkorSwim and TD Ameritrade Warning

hi there,

i have just sent all nessecary documents for opening a new account to td ameritrade (because i want to use thinkorswim for some reasons) and then i found this on the net.

ThinkorSwim and TD Ameritrade Warning | YOUR ACCOUNTS MAY BE AT RISK!

any opinions on that?

thanks in advance

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  #2 (permalink)
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  #3 (permalink)
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virginia
 
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sounds mess up, keep a minimum amount in there.

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  #4 (permalink)
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Massive l's Avatar
 
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Never had a problem. I have 2 of my own accounts and a client account.
They will liquidate your position if you do not meet the margin requirements.
This goes without saying for any broker.

Psychology > Strategy ≥ Money
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  #5 (permalink)
Market Wizard
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philipp View Post
hi there,

i have just sent all nessecary documents for opening a new account to td ameritrade (because i want to use thinkorswim for some reasons) and then i found this on the net.

ThinkorSwim and TD Ameritrade Warning | YOUR ACCOUNTS MAY BE AT RISK!

any opinions on that?

thanks in advance


I believe you will it find nearly impossible to find a broker without at least one ticked off customer who has gone to the regulators over some matter. If I saw many instances of such behavior, though, I might avoid that firm.

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  #6 (permalink)
Market Wizard
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Massive l View Post
Never had a problem. I have 2 of my own accounts and a client account.
They will liquidate your position if you do not meet the margin requirements.
This goes without saying for any broker.

if the margin call is not about to spill into the negative in a hurry, we call and email to warn the customer.
Last resort is liquidation. Some Margin calls occur because of an honest error.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #7 (permalink)
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Massive l's Avatar
 
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TDA does that as well. I received a margin call early on.
They gave me a call in the morning and said they'll let it roll
for a few days even though I had insufficient funds. They also sent an email out to remind me.
If it gets out of hand they will cut it but for the time being I was okay.
I ended up having to close it a few days later anyways.

Psychology > Strategy ≥ Money
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  #8 (permalink)
Market Wizard
Boca Raton
 
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Massive l View Post
TDA does that as well. I received a margin call early on.
They gave me a call in the morning and said they'll let it roll
for a few days even though I had insufficient funds. They also sent an email out to remind me.
If it gets out of hand they will cut it but for the time being I was okay.
I ended up having to close it a few days later anyways.

That is good. Such courtesy allows you to examine your positions, and see what you need to take off.

Matt

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #9 (permalink)
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Most of the comments on that webpage are complaints from customers who were margin called probably
due to overleveraged bad trading.

But that recent update "proving" cover up seems troubling. I thought TOS being acquired by TDA would bring more security to the customer. I was planning to close my old TOS account and just start a new TDA account as TDA still keeps TOS accounts keyed to the old TOS id. TDA has been around a long while. They also had acquired Kennedy&Cable ->Waterhouse and all the accounts that went with it.

A limitation I came across: Ninjatrader multibroker version won't work with original TOS accounts (pre-merger) but will work with TDA accounts using the (after merger) TOS platform id/password. Seems to be some unfixed issue that tech support told me.


Last edited by Cloudy; February 8th, 2013 at 02:32 AM.
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  #10 (permalink)
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kevinkdog View Post
I believe you will it find nearly impossible to find a broker without at least one ticked off customer who has gone to the regulators over some matter. If I saw many instances of such behavior, though, I might avoid that firm.

so true.

thank you guys for responding @Cloudy @mattz @Massive l @kevinkdog @cory

as i havent read a lot of bad reviews about td ameritrade, good to hear that there are satisfied customers.

of course a margin call is mostly self imposed, so the complaints about that dont count for me.

what really shocked me is: ThinkorSwim opened new, short VIX (Volatility index) option positions in the customer’s accounts.

as i always keep an eye on the statements i get from my broker, td ameritrade will not be an exception and solves this issue for me being a customer of td ameritrade soon.

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