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Ted, leave humor to others, you just deal with rumor.
I take it you don't have Ameritrade and you want to joke while people are suffering loses because they cannot place trades in their accounts. How about market is crashing and you cannot sell and it Fs-up your retirement?
@VintageFreak: I should have know better to responded with a little humor to someone who is a Freak ! Don't worry, I've learned my lessons, you'll never hear from me again.
Give them a little time to work out the integration kinks. Years ago when TD bought ThinkorSwim (which I didn't agree with at the time) I woke up on Monday morning, logged into the ThinkDesktop (active trader) where I had several futures positions on -- and was greeted with a six-figure 'MARGIN CALL' alert in red text.
Margin calls are something nobody ever wants to see, of course. I take it as a sign of total irresponsibility as an investor/trader -- which my mentors and community friends drilled into me on day one when I first got into futures trading.
Even though the markets were fine that day, apparently some of my futures positions didn't reconcile correctly, which showed a negative balance and generated the margin call alert. To say I was freaked-the-eff-out is an understatement, but a quick phone call resolved my worries, and by the time equity markets opened, the system had reset.
I hope the ST integration goes as smoothly as possible for all involved!
I had been dreading today worrying about possible glitches. But so far so good. Made a transaction fee fund purchase and was charged the $17 Scottrade rate as promised. The next hurdle will be if the accumulated dividends from Scottrade are posted correctly end of month.
High Call Volume Due to the transfer of Scottrade accounts to TD Ameritrade, we are currently experiencing a high volume of phone calls. Former Scottrade clients have access to live education and on-demand videos to help get comfortable with our platforms. https://education.ameritrade.com/scottrade-all/
My fault. I should placed the trade before the transfer took place. Just got lazy. Seems to be just like after you purchase new fund shares it takes a couple of days before you can sell, it will take at least that much time after the transfer into Ameritrade from Scottrade. At least I hope that's it.
And the morons - if you have "trade" question they say to call them under "Contact Us" instead of letting clients send them email. I'm sure THAT is why they have so much call volume if people can't sell their positions. Email would have been simpler, then they could do a blanket reply when they fixed the problem.
I quit Ameritrade because of their horrible service and unpredictable website behavior. Problem is if you want broker diversity you find yourself in this predicament. What I need to do is take a hard look at whether I need to keep this account.
Hi @VintageFreak You noted: "Problem is if you want broker diversity you find yourself in this predicament." I'm not familiar with other vendors/brokers; as we've used Fidelity from day one investing. What does "broker diversity" mean in reference to the vendors in this thread? Thank you. Catch
My fault. I should placed the trade before the transfer took place. Just got lazy. Seems to be just like after you purchase new fund shares it takes a couple of days before you can sell, it will take at least that much time after the transfer into Ameritrade from Scottrade. At least I hope that's it.
And the morons - if you have "trade" question they say to call them under "Contact Us" instead of letting clients send them email. I'm sure THAT is why they have so much call volume if people can't sell their positions. Email would have been simpler, then they could do a blanket reply when they fixed the problem.
I quit Ameritrade because of their horrible service and unpredictable website behavior. Problem is if you want broker diversity you find yourself in this predicament. What I need to do is take a hard look at whether I need to keep this account.
Earlier this month I closed out my smaller taxable account at Scottrade and it’s now at Fidelity. My plan is to transfer my IRA there if I am the least bit unhappy with TD Ameritrade. And remember Fidelity will pay you a bonus for transferring there. Then again, TDAmeritrade tells me they will match or exceed anything Fidelity offers. Not sure that is really much of an incentive if you receive poor customer service as a result of the merger.
@catch22 - I guess I'm just paranoid about broker going bankrupt and my portfolio going up in smoke for the most part. Couple of other reasons are thinking you NEED a fund that's NTF only at one broker vs another. Finally, while not a reason anymore there was a time I was doing aggressive tax management and sold with gains in one broker and bought back at another soon after which I couldn't have done with same broker.
FWIW, my trades seem to have been accepted this morning. Now if they charge me commission, I'm going to blow a gasket and broker diversity be damned, I'm moving all 3 accounts I have with them.
@Junkster. Ameritrade will charge for exiting, so Fidelity paying bonus will make up for it. As long as one does not have any issues, any broker/service provider is fine. It is when you have a problem and how you are treated is when you REALLY know what kind of organization you are dealing with.
When I deal with TRP or Vanguard or any other, their initial reaction is what makes me keep feeling good. Etrade and Ameritrade my experience was exactly opposite. I was made to feel I did something wrong from get go and it is totally irrelevant that it was not my fault.
Anyways...getting old too...how many people am I going to stay mad at?
Never heard the term "Broker Diversity". Does sound paranoid to me, but to each their own.
Here is some information on 'if a brokerage goes bankrupt', FWIW. I'd have to say, for good or bad, I've never even thought of that in respect to a Fidelity or Schwab, but I guess, who knows. Anything is possible. There is something called SPIC protection for up to $500,000. Not quite the same as FDIC protection at your bank, but exists non-the-less.
Although relatively rare, stock broker firms do go out of business. Investors should select a stock broker after due diligence, which includes ensuring that the broker offers SIPC protection (see the full list of SIPC members). Once you begin trading or buying investment products, ensure your records are in order. Doing a bit of paper work, which could include keeping either a hard copy or electronic record of holdings, account statements, and trade confirmations, can come in handy for filing an insurance claim with the SIPC.
I have an account with TDA and also had an account with Scottrade. When I logged in TDA today, I don't see the the assets that should have been transferred from Scottrade to TDA. Anyone else has seen this problem?
I closed my account with Scottrade last summer after experiencing poor customer service with my previous TD Ameritrade account. I can buy tf mutual funds at E-Trade or Vanguard for a $20 fee, so I didn't see the need to keep the Scottrade account.
A petty concern, but TDA is adding a fee (amounting to a cent or so). Since we have only a penny left in our account there, literally, that added fee could wipe us out
From our January statement:
TRADING ACTIVITY FEE To continue facilitating the execution of trades, a regulatory Trading Activity Fee (TAF) will be added to applicable sales transactions, beginning on or after March 19, 2018.
This fee is one of the regulatory fees FINRA (Financial Industry Regulatory Authority) assesses to member firms. The rate varies depending on the type of transaction and the size of that transaction. This transaction-based fee has been previously consumed by TD Ameritrade. A full rate schedule can be found below as well as on the FINRA Website at FINRA.org in Section 1 of Schedule A to FINRA’s By-Laws or by searching “Trading Activity Fee FAQs.”
This fee will be included under the “Reg Fee” section of each trade confirmation, combined with any other applicable regulatory fees. It will be reflected in the totals for “commissions and fees” on the TD Ameritrade website within transactions and order histories. For questions you may reach us by calling the phone number listed on page 1 of this statement.
Trading Activity Fee rates: $0.000119 per share for each sale of a covered equity security, with a maximum charge of $5.95 per trade; $0.002 per contract for each sale of an option; $0.00075 per bond for each sale of a covered TRACE-Eligible Security (other than an Asset-Backed Security) and/or municipal security, with a maximum charge of $0.75 per trade; $0.00000075 times the value, as reported to TRACE, of a sale of an Asset-Backed Security, with a maximum charge of $0.75 per trade. All charged fees will be rounded to the nearest penny using natural rounding logic. For example, $0.004 rounds to $0.00 and $0.016 rounds to $0.02.
@AMatMFO TDA did not merge accounts. You will have 2 accounts, one transferred from Scottrade and your original TDA account. Use your Scottrade account number and password at the TDA login, and you will see your "transferred" account from Scottrrade.
I had 2 accounts at each brokerage and now I have 4 accounts at TDA. They are multiplying like rabbits.
@Maurice, @PennyBonds, Thanks for your replies. I just logged in TDA - I see only one account that originally existed at TDA. I don't see the another account (transferred from Scottrade) in the Account list box located at left-top.
First, I logged into the TDA website using my Scottrade account number and password. Once in, I linked my Scottrade accounts to my existing TDA accounts since the social security number is the same as well as other information. At the top of the TDA screen, once linked, you should see all the accounts in which you can flip between the accounts.
@TheShadow, thank you very much. I was able to explicitly link the ST account. I was expecting that this to have been done automatically when ST account was transferred to TDA.
Comments
Regards,
Ted
I take it you don't have Ameritrade and you want to joke while people are suffering loses because they cannot place trades in their accounts. How about market is crashing and you cannot sell and it Fs-up your retirement?
Give them a little time to work out the integration kinks. Years ago when TD bought ThinkorSwim (which I didn't agree with at the time) I woke up on Monday morning, logged into the ThinkDesktop (active trader) where I had several futures positions on -- and was greeted with a six-figure 'MARGIN CALL' alert in red text.
Margin calls are something nobody ever wants to see, of course. I take it as a sign of total irresponsibility as an investor/trader -- which my mentors and community friends drilled into me on day one when I first got into futures trading.
Even though the markets were fine that day, apparently some of my futures positions didn't reconcile correctly, which showed a negative balance and generated the margin call alert. To say I was freaked-the-eff-out is an understatement, but a quick phone call resolved my worries, and by the time equity markets opened, the system had reset.
I hope the ST integration goes as smoothly as possible for all involved!
And the morons - if you have "trade" question they say to call them under "Contact Us" instead of letting clients send them email. I'm sure THAT is why they have so much call volume if people can't sell their positions. Email would have been simpler, then they could do a blanket reply when they fixed the problem.
I quit Ameritrade because of their horrible service and unpredictable website behavior. Problem is if you want broker diversity you find yourself in this predicament. What I need to do is take a hard look at whether I need to keep this account.
You noted: "Problem is if you want broker diversity you find yourself in this predicament."
I'm not familiar with other vendors/brokers; as we've used Fidelity from day one investing.
What does "broker diversity" mean in reference to the vendors in this thread?
Thank you.
Catch
FWIW, my trades seem to have been accepted this morning. Now if they charge me commission, I'm going to blow a gasket and broker diversity be damned, I'm moving all 3 accounts I have with them.
When I deal with TRP or Vanguard or any other, their initial reaction is what makes me keep feeling good. Etrade and Ameritrade my experience was exactly opposite. I was made to feel I did something wrong from get go and it is totally irrelevant that it was not my fault.
Anyways...getting old too...how many people am I going to stay mad at?
Here is some information on 'if a brokerage goes bankrupt', FWIW. I'd have to say, for good or bad, I've never even thought of that in respect to a Fidelity or Schwab, but I guess, who knows. Anything is possible. There is something called SPIC protection for up to $500,000. Not quite the same as FDIC protection at your bank, but exists non-the-less.
From Investopedia, What Happens When A Stock Broker Goes Bust?
https://www.investopedia.com/articles/investing/050515/what-happens-when-stock-broker-goes-bust.asp
From our January statement:
TDA did not merge accounts. You will have 2 accounts, one transferred from Scottrade and your original TDA account. Use your Scottrade account number and password at the TDA login, and you will see your "transferred" account from Scottrrade.
I had 2 accounts at each brokerage and now I have 4 accounts at TDA. They are multiplying like rabbits.
Regards,
Ted
Regards,
Ted
I just logged in TDA - I see only one account that originally existed at TDA. I don't see the another account (transferred from Scottrade) in the Account list box located at left-top.
First, I logged into the TDA website using my Scottrade account number and password. Once in, I linked my Scottrade accounts to my existing TDA accounts since the social security number is the same as well as other information. At the top of the TDA screen, once linked, you should see all the accounts in which you can flip between the accounts.
It's working today as I bought some DKS.
and so it goes,
peace,
rono
Incidentally, I logged into my already established TDA accounts, rather than using my Scottrade login, but the Scottrade accounts did not appear.
I had to link again the Scottrade accounts to my already established TDA accounts when I logged into my TDA accounts.
It appears to have worked either using the Scottrade login information or the TDA login information.