Cash stolen from thinkorswim accounts, any advice?

Discussion in 'Retail Brokers' started by dis, Mar 2, 2010.

  1. Did you ever get this resolved???
     
    #21     Mar 4, 2010
  2. Why Twofactor authentication is a must. ie FOBs such as securid.
     
    #22     Mar 4, 2010
  3. drcha

    drcha

    I had a strange experience several years ago with the William Blair International Growth Fund. I got a statement and found that $15K had been added to my fund. When I finally raised someone on the phone who had the authority to handle it--which required me calling a few times and nobody calling me back--they were quite nonchalant--oh, we already know about that. Well, when the hell were you going to tell ME? Although they promised to fix it, and did, there was no feedback--I had to keep calling them to figure out the status of the money. They also wanted to change my account number, which I refused to let them do. An honest mistake handled proactively would have been acceptable to me, but this was poorly handled. It was their lackadaisical attitude that really pissed me off. I was dealing with their transfer agent (State Street, I think) and could not raise anyone at William Blair itself on the phone. Could not even figure out how to contact them; all roads led to State Street. Ultimately I transferred the money elsewhere. There are too many good fund families who care about their customers and communicate well with them (and some of them are many times the size of Blair and have plenty more fish to fry).

    TOS' failure to address this in a timely fashion is unconscionable. More bad customer service from huge firms. Your best chance of getting it expedited may be to embarrass them, i.e. go to the press. You should complain to FINRA, etc. as suggested above, but I doubt that it will move them any faster. Any firm that size could have numerous complaints that are active (many of which may be baseless).

    Sorry for your trouble. Let us know how it turns out.
     
    #23     Mar 4, 2010
  4. Please post how this turns out. It seems scary to think this could happen.
     
    #24     Mar 5, 2010
  5. The OP may have been told to shut his trap until it's resolved.
    Publishing this kind of personal event in a public forum is pure idiocy anyway.
     
    #25     Mar 5, 2010
  6. In 2002 I had a similar experience with a different broker. They did make things right, but it took over two months. Though they never said it directly, their attitude led me to conclude that this kind of thing happens more often than you might think.
     
    #26     Mar 5, 2010
  7. I have read reviews online of similar things happening at IB as well, wonder how often stuff like this happens....it could happen anywhere. Makes you weary about your account balances...
     
    #27     Mar 18, 2010
  8. ids

    ids

    Stop this BS. Similar things never happened in IB. Our security procedures are top notch.
     
    #28     Mar 18, 2010
  9. This is Internet crime. It is your money.
    You do not want rock the boat. You want to blow up the boat. Report to FBI!
     
    #29     Mar 18, 2010
  10. So all the people posting these experiences of money missing from their accounts, accounts being locked down for no reason, outright theft, etc are all making it up for fun?

    Just read the reviews and comments:

    http://www.forexpeacearmy.com/public/review/www.interactivebrokers.com

    http://www.churn.ca/2009/06/10/is-interactive-brokers-a-scam-i-think-so/

    I've seen stuff like this posted in other places as well, this is just what I could find at the moment. I'm not affiliated with any broker, just a normal trader looking for an honest and safe place to trade.
     
    #30     Mar 18, 2010