TradeStation not an honest broker

Discussion in 'Retail Brokers' started by TraderC, May 15, 2002.

Thread Status:
Not open for further replies.
  1. TraderC



    Please be aware that TradeStation is not an honest broker. TS sneakly deducted $100 of data fees from my account even though I was on an old commission plan that has no data fee. Although they admitted it was their mistake, they would not credit me for the fees even after four weeks of constant calling.

    I finally gave TS a bad rating on EliteTrader, and immediately TS had one of their rep email me. Here's my response to the TS rep:

    Subject: Re: TradeStation Securities
    To: "Michael DeCarvalho" <>

    Mr. DeCarvalho:

    I have already spoken to many people in your company
    from customer service rep Carlos Alvarez to managers
    Amy Stone and Katie Faber. Everyone was telling me
    that I would see the credit next day, then next week,
    then next month, after one more person approves it.
    As of today, I still do not see the credit that was
    due to me.

    I want to add that your customer service manager Amy
    Stone promised to call me after my account has been
    properly credited. I called her many times to inquire
    about the status of my credit. She refused to answer
    my calls, even though other reps said she was in her
    office. I left many messages in her voicemail asking
    about my credit. She has never returned my calls even

    I do not find your company to be honest with me. If I
    didn't watch my account very closely, I would have
    missed your hidden trading commissions and data fees.
    And even after I have discovered your mistakes, your
    company has been unbelieveably reluctant in crediting
    me back the incorrectly charged fees.

    I have done online trading for over 8 years with many
    different brokerages. I have never seen a company
    with as low quality of service and accounting as

    In summary, I will never do business with you guys
    again, and I will try to warn others about your highly
    questionable business practices
  2. Fohat



    Reminds me of Qcharts, it exhibited the same reprehensible behaviour in a similar situation...add them to your black list.
  3. I have seen many brokers (non-US brokers) with very much lower quality of accounting. :D
  4. Just remember this is basically the same people that offered a lifetime update for $XXX; and no one seems to remember the program ...
  5. Janette Perez

    Janette Perez TradeStation Technologies

    Dear Mr. Chou (TraderC),

    On behalf of TradeStation Securities I apologize for the delay in
    issuing your credit. Customer feedback is important to us and I want you to rest assured we are taking corrective steps. I am sorry your experience with our company was not satisfactory. Please let me know if there is anything else I can do for you.


    Janette Perez
    VP Sales
    TradeStation Securities
  6. TraderC


    It's interesting to note that after I decided to go public with my complaints, I am finally getting some apologies from TS people. Previously, all of my complaints were ignored.

    When I threatened to their customer service manager Amy Stone about closing my account two weeks ago, and complaining to the SEC, she rudely said, "go ahead" and hung up on me.

    And guess what? My account has not been closed as of yesterday because of the ridiculous long wait for my credit. My money was stuck with them for this whole time.

    Also, my negative rating of TS on EliteTrader was promptly removed. I guess broker sponsored censorship is alive and well here.
  7. TraderC


    Ms. Janette Perez:

    I had no choice but to go public with my story. No one in your company was even willing to listen to my angry complaints, except for Carlos, whom I really appreciate for assisting me.

    All of this would never have happened if your company simply hired a customer service manager more sensitive to your customers than Ms. Stone. Your reps basically all followed what she said.

    I hope this will be a lesson for your company, and a lesson for all other traders out there.

    Watch your account and know the company that you are doing business with!
  8. Instead of giving back a lousy C-Note, how much did these idiots lose in trading commissions? How many will be reluctant to use them for trading in the future? Absolutely dreadful decision making on their part.
  9. mktman


    Terrible customer service seems to be the norm these days.
    What happened to the good old days of the customer always being right and his/her satisfaction given the utmost priority?
    Find a firm like this and you have a gem.
    It's not the economy stupid, it's customer service.

  10. amateurs ...
    #10     May 15, 2002
Thread Status:
Not open for further replies.