TDAmeritrade down again this morning. I am so upset

Discussion in 'Retail Brokers' started by freewilly, Sep 30, 2011.

  1. 3rd time in a month. Time to leave TDAmeritrade.

    I had positions, but could not close them, I was so nervous......

    No matter what TDAmeritrade has for other things, it is a SCARY place to trade.
  2. move your account but I would have at least two separate accounts at different brokers. All brokers have outages at some point in time. What a reasonable frequency and duration of these outages is debatable (I would not tolerate more than a couple of times a year personally!) but this situation at TDA seem out of the ordinary.
  3. uptickk


  4. Thanks for the link.

    How does opening accounts with another broker would help?

    For instance, I have $50K long positions with TDAT, , market is plummeting, I want to sell my positions, but I can't because TDAT is down. How does the backup account help me? What if some stocks do not have short positions. Also back up accounts are not cheap, your money is tied up there. Yes, you can trade there, but commission may be high, and you need constantly hop between accounts.

    I am still looking for a reliable broker. Any suggestions? IB is too expensive for me, as I often buy stocks 10000 shares or more.
  5. Tom B

    Tom B

    You could hedge your open TDAT positions with options or futures until TDAT is operational again.

  6. There are many ways to hedge yourself using the second account if your primary broker is down. If you are long a basket of stocks that are not readily shortable you could short the index futures and cover yourself temporarily until you were able to get back up for instance. You do not need the same amount of money in your backup brokerage account for it to be valuable.
  7. Thanks, all.
  8. Awwwww.

    You should have been around in the late 1990's when AMTD's systems crashed virtually EVERY morning. IF you reach a telephone rep, which are unlicensed inbound telemarketers, you basicall got double talk.

    They might have offered a concession such as (5) free trades (and an autographed photo of Stuart with signature right over his sideburns.

    Same whine in a brand new bottle. You get what you pay for.
  9. mccrok

  10. Roy G Biv

    Roy G Biv

    You use TDA , and find IB too expensive? That just does not compute..
    #10     Oct 1, 2011