Complaint Review: TD Ameritrade

I was caused to lose at least 1600.00 when Ameritrade wrongfully liquidated 73,000 dollars of my stock to meet a maintenance call that I had already met the day before. On the company's website, after I liquidated the stock, there was reflected 450.00 regular buying power on my account. (Regular buyihg power only appears when their is no equity deficiency in an account). A day after they liquidated my stock for the price they did, I could have received at least 1600.00 for the sale of the stock.

They also have cost me much money by violating their company's policy of not issuing a maintenance call when a deficiency is below 1000.00. Last week they issued a call when I had a deficiency of only 93.00 - forbidding me from trading that entire day.

Today, they have issued a call for a deficiency of only 209.93 - again, preventing me from trading throughout the day.

Last week I sent repeated emails, but they did not remove the call. Today, I have sent 3 and they have not responded to the emials or removed the maintenance call from my account.

They also unscrupulously sold 1495 shares of my stock on the FIRST day of a maintence call., when both the NASD and the DJIA were up and my stocks were up! Their policy is not to liquidate until after the 3rd day a call has been issued. They could have only liquidated a small portion of what they did, but their sale cost me 2,500 dollars at least. I would encourage any investor to go instead with (((competitor's names redacted)))- both of whom I had no problems with in years of trading with them.

James
Monterey Park, California
U.S.A.

sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company, ..plus, if you post a competitors name more than likely they will show up on search engines as a Rip-off! - - your comments on this policy are welcome. CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report. In this case we removed an alleged competitor's name