Wow. I not sure what to say. I have been in this industry for along time. I have had only one issues with a retail broker, which I won't name. I was a client for a long time with Spear Leeds & Kellogg (SLK) then Goldman Sachs Execution and Clearing (GSEC). These we both professional relationships and they were actually very good to me. It suck when you can't trust the "professionals" you're doing business with. I think it comes down to proper training. "Stuff" will always go wrong and your broker should care, even if they don't want to eat losses from trading platform issues. I have had so many of these over 35 years that have cost me a ton of money. I have never been given any money back from these. With regard to your question above. In the US, every new account agreement you sign has you agree to arbitration to settle "disagreements." If you want to take the path to sue, I assume that is your only options. Good luck..Bob
Vol, give me a couple of days to see how they respond, their big on trading options really cheap, they advertise on this website so that eliminates a lot of guessing. They have no platform and you must do your trades on a horrible website that does not refresh, stuck orders. Please be patient, not trying to make people angry, if I play my card what they can say "well the asshole wrote nasty things on Elite Trader, why should we honor what we told him?" I wrote one of their partners asking him if he's aware they are not giving out the free trades promised on their ads, just to make sure Bozo is not getting ripped off. Trading with Bozo is who found them for me, now I am bummed he did that!
Failing to do due diligence and some basic research is why most beginners fail. You are apparently a bloody beginner else you would not go with a broker that offers order entry on a website (no audit trail, no logging capabilities on your end, no nothing...). Good luck and sorry I have a very short attention span...no time to wait around...I stand by my conviction that its nonsense to go public but to then refuse to name the transgressor. Good luck
Thank you Robert, I think Uncle George is right about the Class Action thing because nobody I know who started an account there ever got their account coded for those $500 or 50 free trades. It pissed me off when one of the managers told me "You took too long! I don't think we can fix it now!' That's crazy considering I've asked them twice a month and they never did nothing, it was always a promise of a future time. Is that dishonest or just lazy or are they trying to get out of what they promised? When someone does file a complaint with FINRA, do they follow through using all evidence getting to the bottom of the matter? A verbal promise on email seem's a no brainier, I was going to move my account after that mess but he promised me he would give me my original free trades they owed plus make me whole! The same thing happened with another account, they did not give me the free trades, I signed up using "Trading with Bozo" website where he get's you $500 and that's has not been given. I am not stupid, something look's really fishy, standing by idly while they continue to skim people seem's odd. All I can speak for is my personal experience and they have given me bad information several times. They make you liquidate all your LEAPS even if the Spread is while when you don't make Day Trading Calls caused by their stupid Clearing House "First South West", it sucks hard!
Vol, I think anyone who uses a Brokerage Firm with First Southwest as their Clearing House is asking for trouble. C-Cor has treated me very well, so has Apex, their twice the Clearing House First Southwest is and don't make you sell all your positions just to get money if their antiquated computer system can't keep up and provide you with accurate real-time buying power. You know, the manager said "Your the only one our System can't keep track of, your too fast! Even with Esignal as your platform, we were not built for Hyper Traders!" I asked him if they were going to put out a warning telling hyper trader "Sorry Chaps, we can't provide the services we promised for you, please find a new Brokerage!" The amount of volume I did, I feel like they really screwed me over and telling me "You took too long!" is not only wrong, it's immoral because their the ones who refused to give make up that bad trade plus they don't give you the free trades. Why would I refuse the free trades that were offered to me? My friend who just joined will pull his account once he uses up the free $500 in credit. He's pretty loyal, when he tells you he is going to do something, he does not sit around and tell fibs. Do you know which Brokerage it is now?
Pity. We suffer from a similar situation. In last October, we stopped our account in a Canadian prop firm and wanted to withdraw our deposit. They told us that we had to wait for several months. But it has been almost one year and they still refuse to pay our money back. We have contacted them for many times through email, Skype and phone. They are so rude and seldom reply to us. We have their contact info and records of our emails, wondering whether we should go to Finra or post on ET
I think I know who you're talking about -- do they have the same initials as the state of Ohio...? (give me some kind of sign lol) I was originally contemplating them when first opening my account, but I didn't really like their layout website design. and the email replies I have received from them always seemed too direct and blunt...quite frankly, made them seem like jackaashes. I went with another broker instead...who has the initials of Tennis Kansas -- and I'm pretty happy with them. ...but no broker is Perfect, you're bound to experience hiccups. Just as always...just follow your gut instinct.
you people really are a bunch of wining pussies. On one hand a couple making love on the beach will most likely go to prison for many years and is registered as "sex offenders" (basically having their names out in open public) (http://www.miamiherald.com/news/state/florida/article20191164.html) and on the other hand a bunch of wankers are too afraid to name broker criminals that violate customer agreements and act unlawfully. Funny country in which you are living there... Perfectly describes the fact Americans go nuts over a bunch of fat guys suiting up in body armor and protective gear to bump into each other and call it American football and glorify the "players" as tough guys...if you wanna play a rough sport why not doing it like the rest of the world and play rugby??? Truly bizarre but amusing...
I asked before Wed to have all my cash sent out, let's see if Monday I get my cash from them. I did not see they had approved my ACH, they made me sell my last LEAP worth $800 so they could send me $40,000. Active Traders need to avoid trading stocks with brokerages that are not designed for it.
How many Brokerages use First South West? Here's the Clearing Firm you probably should avoid because they suck donkey hoofs, only a few brokerages i know use them. http://clearing.firstsw.com/