Trading with TD Ameritrade/Thinkorswim? Beware...

TylerL's picture
Rank: Senior Chimp | banana points 16

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

Comments (18)

Sep 7, 2013
Sep 7, 2013

Thanks for posting the link!

Sep 7, 2013

yeah no problem, pretty good read.
blog more lol.

Sep 9, 2013

Ameritrade has now blocked me from informing other traders on their popular chat system...I consider that to be an interesting indication.

Sep 9, 2013

BLACKLISTED! btw i am keen on your volume/price trading methods. any suggestions on where to read up?

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Sep 9, 2013

For price...check out Peter Brandt's stuff, he blogs pretty regularly. He has some great risk management items in there too. Not sure if I have a great suggestion for volume/price combined, though.

Sep 10, 2013

This video at the CME about Market Profile is a good place to start. I would say it is required watching for any beginning trader as a building block to understand trading any liquid market.

http://www.cmegroup.com/education/interactive/webi...trading-strategy-with-market-profile.html

I am a proprietary Govt Bond Trader...i post my comments on the mkt intraday at twitter...and longer articles on my blog. I've accumulated a lot of educational info in these blogs..so i highly recommend checking them out

http://govttrader.blogspot.com

Sep 7, 2013

Pretty sure this is an artifice to defraud... Should contact SEC.

    • 1
Sep 7, 2013

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. (c) 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.

Sep 7, 2013

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.

Sep 7, 2013

Knowingly giving false data to induce trading is fraudulent and I hope whoever is responsible for this gets banned.

    • 1
Sep 12, 2013

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")

Oct 21, 2013

What happened to the post ? I dont see it anymore . It looks like you have been forced to take it down what happened ?

Oct 21, 2013

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.

Oct 22, 2013

They have all kinds of games they play to cheat unsuspecting customers and their platform is full of glitches which they know about and don't really give a **** . I would not have all my money with them because they have been known to play games . They can't sue you because you have freedom of speech, unless you lie and slander them but if you state facts .. nothing will happen ..

Oct 22, 2013

Also see - cheatedinvestor (dot) com

Oct 23, 2013

Wow - quite the compilation of burned traders there. Thanks for the link.

Oct 23, 2013