Tradestation randomly closed my account...

Discussion in 'Retail Brokers' started by yoyotrader, Nov 3, 2018.

  1. Hi there,
    I had an account with tradestation for like year and a half, had a few trades placed, but mostly used its radar screen for research purposes.
    One day, Tradestation closed my account, randomly. No questions asked. Would not tell me the reason.
    I know that I have not done anything shady for sure. I am not sure if it was a mixup on their end or something.

    Wondering if anyone had similar experience, or knows sample reasons (other than obvious fraud) why they would do that...
  2. Robert Morse

    Robert Morse Sponsor

    When they closed your account, how did they tell you and who did it come from?
    VPhantom likes this.
  3. I had two missed calls back to back close to market closure from FL, did not pay attention. Next day - could not log on. Called them back, initially they answered with friendly tone. When I verified my account - there was a silence and they spoke back to me like I was a Russian spy - with caution and very formal, that they could not tell me anything and had to talk to account services. When I did that - they just would not disclose why - just shut it off. Weirdest interaction I have had with any organization in my life. Curiosity is killing me more than anything else... Thought I would ask here if anyone has heard anything similar... If I had done something wrong and know what it was - I would not be obviously wasting my or anyone else's time asking it here
    VPhantom likes this.
  4. TommyR


    probably russian spies, the voice is the give away
  5. By the way - lightspeed rocks Robert
    Robert Morse likes this.
  6. wrbtrader


    After TradeStation closed your account...did they send you a check for the remaining funds in your account or did they wire the remaining funds to your bank ???

  7. Robert Morse

    Robert Morse Sponsor

    Does that matter? Looks to me that yoyotrader is looking for the reason for the closure like some terms of service or regulatory matter.
    CSEtrader likes this.
  8. Yes, that was not an issue. I was just puzzled by that fact. Never had been treated like that in my life, and was just dying from curiosity what happened. Even wrote a registered mail to CEO. Their Director of business operations called me and basically said the same thing everyone else said.
  9. wrbtrader

    wrbtrader matters. For example, if they closed his account and they have his money...that would be wrong.

    I would think they would send him a check via default considering they still have his address.

    Also, he stated he had a few trades placed but he didn't mention any info about open positions prior to the account closure.

  10. Robert Morse

    Robert Morse Sponsor

    I was asking if the manner of payment matters, not if they keep his money. The only way they would keep his money is if the SEC or FINRA required the freezing of his account. He would get a letter from the regulatory body if that were the case.
    #10     Nov 4, 2018