I have an account with TD Waterhouse and ran into a problem where they started liquidating some positions at 3:30 pm without my permission that didn't expire until the next day. This cost me money on three occasions, the middle occasion I disputed in writing and told them I didn't want them doing this. Then the next month they did it again. Every month they post a message online stating that you have until 4:30 pm to inform them if you do not wish to exercise your options. Any risk associated with margin could only occur if the options were exercised which would require both myself and the broker to decide it was a profitable step. So my strategy was try to find a good sell price myself in the last couple of hours and often the best price late is in the last 5-15 minutes. Their actions always end up with a weak fill at an arbitrarily low bid price ( its like giving my money away ). And, I suspect, they may even be market makers on some of these options themselves. So my question is has anyone else encountered this problem and/or discovered the legal ramifications in this situation. My next step may be to write a letter to TD outlining the trades and what I intend to do if they don't compensate me. There is an ombudsman in Canada I believe these kind of cases might have more credibility now that the abuses of various insiders in the US system.