TD Ameritrade Reviews 297

I have been trying to transfer IRA accounts out of TD Ameritrade for 2 months now. Everytime I call to find out what the hold up is I get a different story. I am totally disgusted with them. Now going to be Charles Schwab which is just as bad.

I created a Solo 401K with TD Waterhouse years ago, and they were subsequently bought by TD Ameritrade. During this transition, my Solo 401K was mis-coded as a "Flexible 401K". As such, they never notified me on an annual basis (I do my own taxes) that I was required to fill out an IRS 5500-EZ Form, if my balance was greater than $250K. Once the Schwab merger was announced, they admitted to their administrative mis-coding, and my acct was appropriately labeled as a "Solo 401K', and I subsequently received a 5500-EZ Email alert in 2022. I contacted IRS, and they fined me $ 1,500 as a result of my not having filed the 5500-EZ for the prior 9 years. I was incensed at this, but paid the fine, as a challenge with IRS could result in a possible $ 400K fine, if my argument was rejected. I contacted both TD Ameritrade and Schwab about this, and they refused to admit any culpability, with avoidance of the issue entirely. I haven't gotten around to it yet, but TD/Schwab will be losing my business (and several other people I know), due to extremely shoddy administration. Stay far away from these guys!!!

Had multiple accounts with TD for years, love them for the most part. Their trading app Think or Swim works great! So no serious complaints other than the occasional glitch and unwillingness to lower options commissions. Overall very solid broker, I hope the integration with Schwab doesn't affect ToS!

For SIX YEARS this is by far the WORST brokerage I have ever dealt with (I have five different accounts, so I can honestly and accurately compare). DO NOT believe what they say. WORST customer service ever! Worst technical's, they are NOT even accurate. My account balances were never accurate. The employees do not even know their own products nor which forms to use, nor how to make transfers. They give me the runaround all the time, because no one knows how anything is done. Think or Swim crashes ALL the time. Today they state that CVI has a 3,535% SHORT interest. It is impossible to have more than 100%. This is just one example of the thousands of errors in their system. I submitted a request to transfer equities six times, and they still could not get it done. SO MANY ERRORS, SO MANY FLAWS, I AM DONE, CLOSING my account. So why did I stay so long with them? Because they paid me incentives to stay, but I am finally leaving, it is not worth all the time you waste with their incompetent staff and inaccurate accounting. TOO much time wasted calling them to FIX THEIR PROBLEMS. No, it's not a one off issue, it's an issue EVERY DAY; PROBLEMS with so many things: forms, accounting, technical, website, staff, etc. STAY AWAY! there are many better firms to join.

Worst experience ever with this broker, they aren't letting me withdraw my money, impossible to reach them

My significant other passed away leaving me as beneficiary to his accounts. It has been a nightmare filling out tons of paperwork and having to mail it at priority rates. Their email sent me the forms but I could not return them by email. They said they wanted to keep it simple for me but it has been anything but simple. Several of the forms pages did not pertain to my type of inheritance or were just instructions. I did not return those pages and now they say I have to send them mall those missing pages that say nothing- more waited time and expense to me. They sent me the forms so they could just print those missing pages if they really need them. I did not enter anything on any of those pages. The local office did nothing but send me the email with the forms. Gave me no help. Had to send completed forms to Nebraska. I am not good at using the website they have but I had to create an account number for one of the forms. Now I constantly get emails wanting me to get money into that account. All these stupid forms are supposed to roll all that over into accounts in my name. I really have no idea what I am suppose to do. Because they are changing to Swab I feel they could care less if this matter gets taken care of.

the name has the solution to your refund..... the td ametitrade is a scam

If I could rate zero I would. I signed up yesterday & they verified my bank. I authorized them to take $3500 from my bank to deposit into my TD Ameritrade account. My bank shows transaction is pending while TD Ameritrade states that my bank reversed the transaction. Now they want to charge me reversal fee. I provided them a 2 day snapshot of all the activity from my bank. They still claim my bank reversed & they want the fee paid. What a scam! Stay away, there are many other options available for online trading. My friend have asked me to switch to Planoff and I have started trading there. TD Ameritrade is horrendous!!!

TD has been stalling moving an Inherited IRA out to our credit union since DECEMBER. They have excuses for their issue but says it is our "paperwork" that is incorrect. Try to call and get clarification is impossible as they have incompetent phone help.

I cashed out my Roth account I was charged over $450.00 with no explanation. I called and left messages, but no one ever returned my call.

Customer service is horrible. I wouldn't invest a dime unless you want to pay high fees and watch your money vanish. I withdrew after 60 days of allowing them to chip away at my money.

INVESTOR BEWARE !!!!

Can I award minus star? I had a very sad experience: my young nephew passed away in 2022. He made me the executor of his estate and didn’t inform me.
I learned that he traded large sums with Ameritrade.
I have no experience with trading and asked Ameritrade to help me with the executor account.
I have for ONE YEAR tried to get answers and help.
I have been patronized, ridiculed and to date not received any explanation. Just unsigned messages telling to call the estate telephone number.
In the interim the account is continuing to display trading .. a year after his death. How much is there in the account? Balance is a mystery , no clue what to do. I am so devastated.

Just got off the phone with Trade Resolution and he has told me that the level two data can be wrong, thus you cannot trust what’s on there. This was after a lengthy conversation regarding getting filled well over what’s shown on the level 2.
My suspicion is he’s telling me this to avoid any any responsibility, but either way Ameritrades Thinkorswim is not reliable.

I’ve contacted support many times and they will always use whatever reason they can to avoid giving your claim legitimacy.
I have hundreds of recordings that show the issues with the Thinkorswim platform and no one wants to see the issues. I’ve offered to show them remotely but they’re not interested in seeing the problems, likely so they can claim they’re unaware of the issue in the future.

The fills have gotten worse over the last two years. I’m getting filled 10+ over the ask. The print and the level two never hit the prices I’m receiving and the tape shows how much higher my fills are going over the market price, even though they claim to give the best price.

Getting ahold of customer support is pretty quick but they’re encouraged to deny anything wrong. No matter how obvious it is, they will claim it’s working properly “on their end”. They’re not interested in solving the ‘small fry’ issues of retail investors, they prioritize the big guys and their own self interest, even though they claim on their website to give you the best market price. It isn’t true.

Ameritrade is marketed as one of the best brokers, I can tell you that their platform is antiquated and glitchy and far from other competitive brokers. To me it feels like they’re ripping off the little guy to make profits for the big boys.

If you’re a momentum trader, avoid this platform at all cost. It will nickel and dime you and slowly get worse and worse. There’s a noticeable decline in fill prices and glitches and it will cost you dearly.

I recommend any other broker over Ameritrade. E*Trade, LightSpeed, Cobra, Interactive Broker, Tradestation, even WeBull has better fills, which I find to be absolutely incredible.

I cannot agree more with the incompetence at Schwab/Ameritrade Fraud department. One of the worst brokerages. Yesterday, they did not even know about fraudulent activity on my Ameritrade account till I called them. Till now, there is no access to my account. Useless people and you wonder how they have a job in the fraud department. The people in the fraud department could not even answer basic questions.

Think about it. People employed by Schwab/Ameritrade could not answer basic questions. And these are the clowns who have imposed restrictions on my account without my permission?. Nobody gave you permission to impose any restrictions if you don't have secure systems and competent staff if something is amiss. They are unable to secure their own systems, clueless when fraud takes place, and then impose restrictions on your account without your knowledge. So I cannot purchase anything just because they want to safeguard their incompetence to protect accounts. For this, they have Sr. Managers, Directors, Sr. Directors, and VP's. - all a bunch of bureaucratic, inept politicians who spend their time filling their pockets with shares and options instead of actually running the company the way it should.

I am an experienced IT guy with 30 years, PMP, Scrum Master, and CRISC certified in Information and security control.

What a horrible experience. I am a returning customer. I signed in over 10 days after and me calling begging for an account specialist to call me back and this did not happen. I made an appointment with onboarding and no one called me either. Bad or fake 5 stars reviews.

TD sells your orderflow to Citadel and other market makers. The price action on many of my trades didn't make much sense until I found this out. They are facilitating the fleecing of retail traders by these market makers.

They are a fraud. They steel money from unfortunate people and have no mercy. They were not able to provide any information about their company and give false hope.

Those people are absolute scum
Good job I am on other side of the globe.
I could crush thair head.

$38 went missing out of my account balance. I was told 50 different reasons and they really had no clue. Eventually they told me it was options trading fees. Problem is I don't and never have traded options. I only buy whole stocks. I believe someone there stole a little from many accounts they saw no activity on thinking they wouldn't be noticed. Unfortunately I never got a real answer and lost trust. Now I'll be filing a charge with the government against them.

I have 6 different accounts and at time time I did not have account numbers so agent requested my "verbal" password. Since I never ever use a verbal password I was not able to gain entry to my accounts. If you are looking to exploit a problem, look no further than the weekest link which is the verbal password.

I have now entered my account number and security passwords but find it strange that a verbal password holds all the cards.

If you use their trading platform I strongly recommend NOT using a "margin" account.

By design, they make the ability to find what interest rate (upwards of 12%) you are actually being charged fairly opaque.

Don't get ripped off, trade with your own money, not theirs...