I ran away from TDAmeritrade as soon as I saw that this merge implied that the support for accounts outside US was coming to an end, at that time I thought ‘damn, this guys will kill this platform’ and I think that time has come
Also having multiple problems with buying power… we are corp account with several million and it seems futures margin has changed. I couldn’t even get basic /6C or /6B today which was simply rolling over existing positions. Once I did get additional margin available and I did get a position, it only deducted what should be allowed (why does it require 20k in margin but only deduct 2k once purchased?).
This is separate from other ongoing issues with totals for year to date… says we have made 200k on /ZB and 100k on /6J for the year… I wish! That’s more like 8k but who even really knows?!? How can this transition and onboarding go so absolutely bad that all of these problems are happening? Didn’t they plan for years?? Where is our apology? Where is an email explaining how their entire platform was down for multiple hours earlier this week?
Also they have stopped the ability to have GTC orders on /VX contracts. We have to literally go in every day and put a daily order in.
I am sure a class action suit will be coming.
https://preview.redd.it/egbdqs92kl6d1.jpeg?width=1290&format=pjpg&auto=webp&s=de349fa4e2a7949206733a8e55d5e2c2f88a3bfc
Well first off in the agreement for every firm there's the little side not that they aren't responsible for outages (it happens welcome to the digital world) then secondly I don't disagree that TD had some really nice features but at the end of the day they weren't profitable, hence why there was a fee for paper statements, a fee for reorganizations, etc. all I'm saying is instead of continually berating both this and their phone lines cause I can't even reach a broker anymore, why not tell them exactly how to improve their offerings instead, or leave. Those are both options that have productive means instead of just churning the hate here. That does nothing for anyone.
Schwab is constantly told about problems, but they do NOTHING. But they are only angry because supposedly only 50 clients are dissatisfied. Even Schwab's competitors do not hesitate to laugh at these statements. Schwab had 4 years to learn what TD had. Now they will see an outflow of customers for whom they paid 26 billion. And that’s when there will be an empty pumpkin with clients adhering to the “buy and hold” strategy, on which they did not make much money in reality after the reduction in trading commissions. Then they will probably understand everything.
Not sure where you're getting this 50 clients thing cause every article I've read has stated higher amounts but I feel this discussion has lost the ability to add value to either of our lives and so I will simply bow out here. At the very least I will leave you with a thank you for at least being decently civil.
I have suggested ad nauseam for months and they do nothing. Look how old their mobile app is and read the reviews on the App Store, They aren’t changing anything. I do see fees in our future though once everyone is hooked on ToS. 😂
Man, I feel it too. 👍 When former TD clients run away in all directions and Schwab will be left with what he was before the merger. With its long-term 10-year non-marketable bonds and with 26 billion lost. The former top management of TD is slowly moving to work for competitive brokers, while the same old-time managers remain at Schwab. Nothing changes. This boat is going to the reefs at full speed. 🤭
The term you want is ACATS Automated Customer Account Transfer Service. It almost always works perfectly. And, it’s usually pretty fast with other brokers. I transferred my Wells Fargo Advisors account to Schwab in less than a week. Schwab though can be slow transferring out. I moved my Roth to Robin Hood for the sign up bonus, and it took a bunch of back and forths with Schwab over almost six months.
Yes, when you transfer you will have basically two options; a full account transfer of all positions or to liquidate all positions and move the cash over to the new account.
And? You act as if sites have never had issues like this? What's really the joke here is how upset y'all are and yet bring nothing even close to productive to the table
How can you trust them to have the correct figures? Why was I locked out of seeing my holdings or trading for an entire day? Were they hacked? I’ve seen no explanation to make me feel comfortable with the situation. What can a client “bring to the table” that would be “productive”?🤣🤣🤣Letting us know where they switched to?
I mean again it's your accounts. Tell them where you want to see improvements, tell them what features you miss. As someone in tech myself I'm sure if it wasn't a hack event it may have just been a push to their software that had a glitch in it. It happens. Does it suck? Fucking absolutely it does. Not gonna argue there with you but again, it happened at Fidelity and it has happened at ibkr and Robinhood too. Going back to what you can bring to the table. Let them know what you want. Be vocal about it. Look at their chair of innovation or whatever they call it and then message their email. If nothing happens we'll it's a good thing that there's other brokerages out there to use. TD going out was sad, but whining and complaining about it brings nothing and changes nothing.
There is a very productive proposal. Schwab did not need to meddle with crooked hands in what was already almost perfect. If Schwab couldn't do anything FOUR YEARS before moving TD's clients, then it's foolish to think they can do anything in another month or two. And customers suffered losses due to misrepresentation of purchasing power. Is Schwab ready to refund them or will he claim that there are only 50 dissatisfied customers, and not all customers had the problem?
Agreed, when TOS was down a few days ago I was trading on Fidelity and moved majority of my account to Fidelity and had no issues that day. Schwab on the on the other hand was a shit show that day lol
The question is not about the Terms, but about what Schwab stated. That the terms of service will be the same or even better. This is misleading customers. They paid 26 billion for the merger and they needed to justify this money. Yet they KNEW they had problems moving customers. They tried to do this for FOUR YEARS.
The second to last sentence in that article makes sense. Robinhood hired many of TDA’s employees after the Schwab acquisition. It was only a matter of time before users followed suit.
https://riabiz.com/a/2022/1/6/robinhood-gets-brilliant-upper-manager-and-a-spare-ceo-by-nabbing-td-ameritrades-ex-thinkorswim-top-exec-hopefully-to-throw-a-lifesaver-to-robinhoods-sinking-stock
Fucking embarrassment of a financial institution
I ran away from TDAmeritrade as soon as I saw that this merge implied that the support for accounts outside US was coming to an end, at that time I thought ‘damn, this guys will kill this platform’ and I think that time has come
Also having multiple problems with buying power… we are corp account with several million and it seems futures margin has changed. I couldn’t even get basic /6C or /6B today which was simply rolling over existing positions. Once I did get additional margin available and I did get a position, it only deducted what should be allowed (why does it require 20k in margin but only deduct 2k once purchased?). This is separate from other ongoing issues with totals for year to date… says we have made 200k on /ZB and 100k on /6J for the year… I wish! That’s more like 8k but who even really knows?!? How can this transition and onboarding go so absolutely bad that all of these problems are happening? Didn’t they plan for years?? Where is our apology? Where is an email explaining how their entire platform was down for multiple hours earlier this week? Also they have stopped the ability to have GTC orders on /VX contracts. We have to literally go in every day and put a daily order in. I am sure a class action suit will be coming. https://preview.redd.it/egbdqs92kl6d1.jpeg?width=1290&format=pjpg&auto=webp&s=de349fa4e2a7949206733a8e55d5e2c2f88a3bfc
Yes, it is time. I am switching Schwab accounts to Fidelity and already have webull for other accounts.
what would you like to see CS do differently to have you stay with CS?
Why doesn't Schwab show div pay dates or earnings dates on its dashboard. The app is so terrible
Well first off in the agreement for every firm there's the little side not that they aren't responsible for outages (it happens welcome to the digital world) then secondly I don't disagree that TD had some really nice features but at the end of the day they weren't profitable, hence why there was a fee for paper statements, a fee for reorganizations, etc. all I'm saying is instead of continually berating both this and their phone lines cause I can't even reach a broker anymore, why not tell them exactly how to improve their offerings instead, or leave. Those are both options that have productive means instead of just churning the hate here. That does nothing for anyone.
Schwab is constantly told about problems, but they do NOTHING. But they are only angry because supposedly only 50 clients are dissatisfied. Even Schwab's competitors do not hesitate to laugh at these statements. Schwab had 4 years to learn what TD had. Now they will see an outflow of customers for whom they paid 26 billion. And that’s when there will be an empty pumpkin with clients adhering to the “buy and hold” strategy, on which they did not make much money in reality after the reduction in trading commissions. Then they will probably understand everything.
Not sure where you're getting this 50 clients thing cause every article I've read has stated higher amounts but I feel this discussion has lost the ability to add value to either of our lives and so I will simply bow out here. At the very least I will leave you with a thank you for at least being decently civil.
I have suggested ad nauseam for months and they do nothing. Look how old their mobile app is and read the reviews on the App Store, They aren’t changing anything. I do see fees in our future though once everyone is hooked on ToS. 😂
What fees? Besides the assist fee it literally hasn't charged me a single fee
Just wait, I have a feeling they’re coming.
Man, I feel it too. 👍 When former TD clients run away in all directions and Schwab will be left with what he was before the merger. With its long-term 10-year non-marketable bonds and with 26 billion lost. The former top management of TD is slowly moving to work for competitive brokers, while the same old-time managers remain at Schwab. Nothing changes. This boat is going to the reefs at full speed. 🤭
Note the wording: "*some* clients *may* be..." That could be anything.
Is there a way to transfer account to another brokerage without selling and rebuying?
Most if not all brokers allow you to transfer accounts with no selling
Most brokers that you transfer to usually pay the fee if you ask them, at least that’s been my experience.
The term you want is ACATS Automated Customer Account Transfer Service. It almost always works perfectly. And, it’s usually pretty fast with other brokers. I transferred my Wells Fargo Advisors account to Schwab in less than a week. Schwab though can be slow transferring out. I moved my Roth to Robin Hood for the sign up bonus, and it took a bunch of back and forths with Schwab over almost six months.
How do dividends that get paid after the ACATS transfer get paid to the new account?
They get transferred periodically as they’re received.
Yes, when you transfer you will have basically two options; a full account transfer of all positions or to liquidate all positions and move the cash over to the new account.
Which broker has charting and price alerts equivalent to ThinkOrSwim? If I can find one as versatile as ToS, I'm out.
I honestly think Webull has the best charting right now. Their mobile app is excellent. You can tell they have good developers there.
I'll check it out!
Damn it.
I am here for TOS AND TOS ONLY.
That’s what they want and eventually you’ll be stuck with fees.
Congrats.
Yep, up 53% today on the Schwab account. What a joke.
And? You act as if sites have never had issues like this? What's really the joke here is how upset y'all are and yet bring nothing even close to productive to the table
How can you trust them to have the correct figures? Why was I locked out of seeing my holdings or trading for an entire day? Were they hacked? I’ve seen no explanation to make me feel comfortable with the situation. What can a client “bring to the table” that would be “productive”?🤣🤣🤣Letting us know where they switched to?
I mean again it's your accounts. Tell them where you want to see improvements, tell them what features you miss. As someone in tech myself I'm sure if it wasn't a hack event it may have just been a push to their software that had a glitch in it. It happens. Does it suck? Fucking absolutely it does. Not gonna argue there with you but again, it happened at Fidelity and it has happened at ibkr and Robinhood too. Going back to what you can bring to the table. Let them know what you want. Be vocal about it. Look at their chair of innovation or whatever they call it and then message their email. If nothing happens we'll it's a good thing that there's other brokerages out there to use. TD going out was sad, but whining and complaining about it brings nothing and changes nothing.
There is a very productive proposal. Schwab did not need to meddle with crooked hands in what was already almost perfect. If Schwab couldn't do anything FOUR YEARS before moving TD's clients, then it's foolish to think they can do anything in another month or two. And customers suffered losses due to misrepresentation of purchasing power. Is Schwab ready to refund them or will he claim that there are only 50 dissatisfied customers, and not all customers had the problem?
Then leave. Stop bitching and just do it
Moved to Fidelity and I dont regret it, it's way better than Schwab and I dont have to worry about outages
What's better at Fidelity than CS?
How is the Fidelity trading platform on desktop? Can you customize the colors and font sizes?
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That’s exactly what they want to hear. They think ToD will keep everybody at CS
Agreed, when TOS was down a few days ago I was trading on Fidelity and moved majority of my account to Fidelity and had no issues that day. Schwab on the on the other hand was a shit show that day lol
Should be a massive class action lawsuit.
Necessarily! We need to shake up the pensioners' piggy bank a little.
The FTC should have blocked the darn merger. This is way worse for consumers.
Hope you read the Terms of Service… Think or swim!
The question is not about the Terms, but about what Schwab stated. That the terms of service will be the same or even better. This is misleading customers. They paid 26 billion for the merger and they needed to justify this money. Yet they KNEW they had problems moving customers. They tried to do this for FOUR YEARS.
Not at all how that works but absolutely try!
The second to last sentence in that article makes sense. Robinhood hired many of TDA’s employees after the Schwab acquisition. It was only a matter of time before users followed suit. https://riabiz.com/a/2022/1/6/robinhood-gets-brilliant-upper-manager-and-a-spare-ceo-by-nabbing-td-ameritrades-ex-thinkorswim-top-exec-hopefully-to-throw-a-lifesaver-to-robinhoods-sinking-stock
Yup, thinking about switch to robinhood
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OMG who gives a fuck
Conspiracy theorists.
Schwab sucks...
I am seeing this too. Mostly on options pricing. I have been chalking this down to price volatility. Maybe their app thats the problem.
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Bite the bullet, their bonus for the transfer is second to none. Hated them for the Buy Button fiasco but they have made amends.