- "August 15, 2011: discovered my Think or Swim (TOS) trading platform and my accounts had been taken over by TD Ameritrade
. Account numbers had been changed. My accounts had a red banner flashing that stated my accounts were subject to a Reg-T Margin call due to lack of funds. This warning was on 3 accounts. My balance was in negative numbers. The balances on these accounts on the previous day were over $200,000 each, with a total over $700,000. Upon further examination I discovered that $258,000 of my funds had been invested in something called and MMDA1. I did not give permissions or authorization to any party to make my investment decisions. I immediately assumed someone had hacked into the TOS platform and stolen all funds. I suddenly knew first hand how Bernie Madoff's clients felt. My next step was to try to close the erroneous investment that was occupying $258,000 of my funds. I found that position was locked. Over the past 5 years and thousands of trades I had never had any position locked. The account holder can always liquidate a position by simply placing an order to close the trade. But not this investment. This investment had been made for me by TD Ameritrade
for my convenience. I had no prior knowledge and never granted any one authority to trade my account or made trading decisions. The account errors and unauthorized investments have now tied up my account for over 2 weeks. It is a nightmare. I can not enter or exit any trades. I can not get out of the investments that TD Ameritrade made for me. I have filed complaint with the SEC, but it has been more than a month and there has been no reply from the SEC or from Ameritrade. There is still $117,000 missing from my account and I can not get any answers."
Don Milton - USA (Oct-2011) - Reply or add your Thinkorswim review
- " I've used Thinkorswmin to trade since at least 2006/2007 and it was brilliant. I was a new investor and their support was great. The founder would respond do your emails directly. It's gone downhill since the TD Ameritrade
acquisition. Expect to get bounced around to 10 "support" staff who are all morons and never answer your questions. The irony is I need their support less now -- but find them even more frustrating. Oh, and the number of times my account info incorrectly shows is remarkable. You'd think this info (and trade execution) is all that matters for a broker, but they can't even get THAT right anymore. Go somewhere else."