Ameritrade Policy on Returning Funds- wait 60 days - Reviews of Brokers and Data Feeds | futures io social day trading
futures io futures trading


Ameritrade Policy on Returning Funds- wait 60 days
Updated: Views / Replies:552 / 3
Created: by jberesfordtipton Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Ameritrade Policy on Returning Funds- wait 60 days

  #1 (permalink)
Elite Member
new york new york
 
Futures Experience: Intermediate
Platform: IB
Favorite Futures: commodities
 
Posts: 9 since Nov 2013
Thanks: 9 given, 1 received

Ameritrade Policy on Returning Funds- wait 60 days

I am posting this because often we participants in the markets need quick access to our funds whether for a margin call or for an emergency or opportunity in the rest of our lives.

Until I encountered Ameritrade I was completely unaware that a broker could withhold my funds for 60 days, but Ameritrade says that is their policy.

The facts are these:
I made a deposit by ACH on October 15, 2013 into an account I had opened the day before.

But, six weeks later, on November 25th, having found their system incompatible for trading future contracts with either NinjaTrader or QuoteTracker, I requested that Ameritrade send back most of those funds to my same bank account that had been the source of the ACH six weeks before.

They refused to do so but I subsequently received a check which they claim was ex gratia, and an exception to their firmís policy.

I complained to them on November 26th and pressed them to tell me what their policy was. Finally, on December 10th they responded with what their policy is which is set forth below in its entirety:

ďFrom: Message Center Client Services Date: 12/10/13 12:02 PM.

To [jberesfordtipton],

The account was funded on 10/15/2013. You have to wait until 12/15/2013 to remove the funds. If you have further questions please respond to this e-mail and I will be happy to help you. Thank you for choosing TD Ameritrade.

Sincerely,

Ben Houston
Client Services, TD Ameritrade




Note: I had started a thread here over a week ago about this incident, https://futures.io/brokers-data-feeds/29729-td-ameritrade-broker-roach-motel.html, but because only now have they disclosed their policy, and how knowing about it might be important to some members of this site I thought their response worthy of the attention of a thread of its own.

Reply With Quote
The following user says Thank You to jberesfordtipton for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
St. Augustine Florida
 
Futures Experience: Beginner
Platform: IB and Option Vue for options. NJ and IQFeed for mini day trading
Favorite Futures: ES
 
Blister's Avatar
 
Posts: 33 since Jun 2013
Thanks: 0 given, 10 received


I had the same experience with them. I had to do a 3 way call with my bank to get my funds back. After that I got the funds promptly.

_____
John
Reply With Quote
 
  #4 (permalink)
Elite Member
Portland, OR
 
Futures Experience: None
Platform: tos
Favorite Futures: NQ, SB, 6J, CL, GC
 
Massive l's Avatar
 
Posts: 1,458 since Mar 2011
Thanks: 922 given, 1,822 received

If you just funded your account. This is the case.

If you have been with them for more than 3 months, you can use an electronic withdrawal and it's in your banking account within 2-3 days.

Psychology > Strategy ≥ Money
Reply With Quote

Reply



futures io > > > > Ameritrade Policy on Returning Funds- wait 60 days

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Hedge Funds Flex Muscle in Politics, Monetary Policy Quick Summary News and Current Events 0 December 12th, 2012 01:50 AM
Smart Money? Hedge Funds Now Worse Than Mutual Funds Quick Summary News and Current Events 0 November 23rd, 2012 03:20 PM
Dumb Money: Hedge Funds Can't Even Beat Bond Funds Quick Summary News and Current Events 0 July 10th, 2012 07:50 PM
Average Investors Returning To Stocks, But Will It Matter? Quick Summary News and Current Events 0 January 4th, 2011 12:20 PM
Search function not returning results. DavidHP Feedback and Announcements 7 September 24th, 2009 03:44 AM


All times are GMT -4. The time now is 07:56 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.08 seconds with 19 queries on phoenix via your IP 54.163.61.66