Trading with TD Ameritrade/Thinkorswim? Beware...
Hey everyone. 1st post here, long time lurker.
I'm in a bit of a battle with TD Ameritrade regarding their unethical behavior after I exposed a glitch in their charting software that falsely adjusts volume bars so each day's volume looks massive compared to the recent past.
They have shown extreme arrogance by brushing this issue aside, even after I implied that it could be considered market manipulation since investors are being induced to trade on falsely magnified volume. At very best it is extremely unethical on their part to let this "glitch" continue.
I wrote a post about it here if you guys want more details
If you find this to be as outrageous as I do, and they're your broker, then make sure to give them a call, an email or a tweet so they can know that investors won't stand for this nonsense.
But most of all, watch out! These guys (all brokers) are out to get the small investor, no matter how much they want us to think they've changed since the financial crisis. It's always great to have a reminder that a healthy dose of skepticism is necessary to be a prudent investor/trader.
*Edited to add the correct chart
http://bumpuscapital.blogspot.com/
Thanks for posting the link!
yeah no problem, pretty good read. blog more lol.
Pretty sure this is an artifice to defraud... Should contact SEC.
TD Ameritrade, Inc., member FINRA / SIPC / NFA . This is not an offer or solicitation in any jurisdiction where we are not authorized to do business. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. © 2013 TD Ameritrade IP Company, Inc. All rights reserved. Used with permission.
I'd imagine they are registered with the securities administration in every state, but I'd contact the relevant parties for whatever state you are currently residing in and the state of New York and see if they have an open investigation into this practice.
I submitted a complaint to FINRA yesterday so hopefully that will light a fire. I'm just hoping to get them to do the right thing.
Knowingly giving false data to induce trading is fraudulent and I hope whoever is responsible for this gets banned.
I didn't think this battle I'm having could be any more bizarre but Ameritrade has really impressed me. If you want a good laugh check out my update to the story.....
....Well, I guess I haven't proved myself here to the mods' liking because I still can't post the link. But if you look at my recent post from the link above, it'll be right there at the top (called "How to Muck Up a Chart")
What happened to the post ? I dont see it anymore . It looks like you have been forced to take it down what happened ?
I took all 3 posts down voluntarily, they never asked me to, but I feared they might try to file a lawsuit of some kind. They were forced to respond to me and to fix it per my FINRA complaint. I feel there is a slam dunk case for a class action but it would be a major headache and I don't want to bear the financial burden if I'm unsuccessful....the big corporation wins again.
Also see - cheatedinvestor (dot) com
Wow - quite the compilation of burned traders there. Thanks for the link.
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