Schwab account problems

Discussion in 'Retail Brokers' started by TimtheEnchanter, Dec 14, 2020.

  1. First, I could not login to Streetsmart via citrix (I use Apple) then I see my individual broker account is somehow restricted (they lifted the restriction Friday). I just ACHed $3000 last week which arrived, yet fails to show up in the broker account. The phone/chat lines are very heavy so some shit hit the fan during the weekend. Ironic, because last week IB has issues and I just left IB - now I am regretting it because I cannot trade! Am I addicted? Maybe...well I could in my IRA but I wanted to trade in my broker account where I can short/scalp. I have to wait and look at some options I was thinking. BLK credit call spread specifically. The risk/win is ugly but the risk is never the one on paper. A smart trade is to get out before it gets so bad. Fast money option idea, I will likely not do it as it is not even my own...
     
  2. otctrade

    otctrade

    there were some internet outages today, could be related
     
    murray t turtle likes this.
  3. zdreg

    zdreg

    re: idea
    That used to be the philosophy of General Motors. If it it was not invented at GM the car part no matter how advanced was not produced at GM.
     
  4. Yes but this is beyond the internet. I am looking at a Friday account in terms of margin. So my nose tells me a hack, possibly. The $3000 ACH should show up tomorrow, so that part is ok...I can go to Citrix/cloud platform.
     
  5. Frankly, I swore not to sell options even as spreads unless the odds are close to 1:1.5
    I only sell puts if I do not mind getting assigned...then calls to get some income.
     
  6. zdreg

    zdreg

    That is a recipe for deeper losses and limiting your upside.
     
    murray t turtle likes this.
  7. %%
    And not likely a hack also..................................................................
     
  8. How do you explain margin issues like I am going through a groundhog day and relive Friday? If they had to back up stuff like margin info they HAD TO HAVE a more serious issue than "market volatility" or "internet issues." [still, a wait time is very reasonable, under 20 minutes]
     
    Last edited: Dec 14, 2020
  9. Cabin111

    Cabin111

    Schwab uses an extra day of float on your money. Schwab Bank is the 12 biggest bank in the US...I wonder why?? It should be there tomorrow...And YES, you may have a gambling problem.

    Schwab/Fidelity's customer service is good. If systems go down, yeah, it can take hours to resolve. But after hours, they answer most questions quickly. The option side people are around till about 8pm EST, then go home. If it's an option question they are back hours before the markets open.

    Schwab/Fidelity WILL answer the phone. Their platforms are boring, but functional. thinkorswim should help...But it may take years to have it on Schwab's platform...

    https://www.google.com/url?sa=t&rct...vive-5073994&usg=AOvVaw3HhDJU250S17xe5U86Gff2
     
    Ninja and murray t turtle like this.
  10. %%
    NOT only do they answer the phone/they keep track of your time on the phone;
    i like the ALLY/IBKR Fidelity bean counter$ much more than etrade goof/goofs.
     
    #10     Dec 14, 2020