Latest Reviews for Stock Brokers

Date Submitted: January 27, 2015
Stock Broker: TradeKing
Time with Broker: 1 - 3 Months
Trade Execution: 1 out of 10
Customer Service: 6 out of 10
Commissions & Fees: 8 out of 10
Trading & Research Tools: 6 out of 10
Recommend: No
Review: Poor trade executions
I noticed significant trade delays between the time I placed the order and the time the order went through. On 12/22/14, Trade King waited until the stock ticker (GILD) had bottomed out to sell my shares (I placed a sell order in the morning at 97.00 and they ended up selling around 86.00). I would not recommend Trade King to anyone, unless you want to lose a lot of money fast.
Comments [ 0 ]
Submitted by: Trader King   ::   United States

Date Submitted: July 23, 2011
Stock Broker: Charles Schwab
Time with Broker: 5+ Years
Trade Execution: 10 out of 10
Customer Service: 10 out of 10
Commissions & Fees: 8 out of 10
Trading & Research Tools: 9 out of 10
Recommend: Yes
Review: Excellenet customer service
Great team of individuals on their tech support line. Really get to the bottom of your issue and follow through to make sure you get your answer.
Comments [ 0 ]
Submitted by: Photodb   ::   Cleveland Oh

Date Submitted: March 2, 2011
Stock Broker: TradeKing
Time with Broker: 1 - 3 Months
Trade Execution: 5 out of 10
Customer Service: 2 out of 10
Commissions & Fees: 8 out of 10
Trading & Research Tools: 1 out of 10
Recommend: No
Review: Tradeking Bad Idea
Read great reviews at Squidoo before I opened an acct with Tradeking. But after trading a few stocks I was not happy with the speed and lack of alerts that I was used to with etrade and ameritrade. Also I was stopped a few cents above my sell stop trigger on a stock which rebounded and I thought I was still in and after rejoicing when it went up I went to sell and it had been sold before the rebound. I decided to transfer my funds but was told access denied. I connected to chat asked what was up and was told my acct was restricted because they needed more info.
My info was fine to take my deposit and trade but suddenly they need w-2 forms copy of my ss card, photo ID etc.I'm still trying to get my money out as they seem to think my money is theirs. I wish I never got into involved with Tradeking. Traders beware!I think Squidoo is in bed with Tradeking, they kept giving error messages when I tried to post a complaint on their site
Comments [ 3 ]
Submitted by: Fooled   ::   Palmdale, CA

Date Submitted: December 15, 2010
Stock Broker: SogoInvest
Time with Broker: 4+ Years
Trade Execution: 1 out of 10
Customer Service: 1 out of 10
Commissions & Fees: 2 out of 10
Trading & Research Tools: 1 out of 10
Recommend: No
Review: Worst broker
I was with sogo for 4 years and I am done with it! Pulling out all my fund this week. Not only they have different technical problems everyday that prevent you from trading, they are rude as hell.
These are just short examples of my frustration with SOGO from this week.
First, they are slow with updating any new IPO stocks. It lets you to buy but won't let you sell (even you call to place orders, they can't).
Second, they added new security feature but failed to tell customers that I could not log in.
Third, their system is messed up & any new positions were showing incorrectly for more than 24hours. I coun't place any orders.
And guess what?? I was told that they have 40 people working there & average waiting time for someone to pick up is 20 minutes!! Yeah..15-20 min waiting to place order because their system can not take your order.
Here are few examples of how ridiculously unprofessional & rude they are. After 20min of waiting, I told representative that I was waiting for 20min. Then he goes, "I picked it up so can we move on now?".
Another time, I've called to question because after hour transaction didn't go thru. This one guy with heavy foreign accent picked up and tells me extended hour trading is only until 6pm in USA. Get it?
This is how unbelievably ridiculous Sogo is.
Their fee is $3 per trade but there are additional fees if you trade stocks under $1 or trades in extended hours. (yeah, they charge 1/2 penny for every share traded in extended hours but they only let you trade until 6pm EST) IT ADDS UP!!
So, my conclusion: NOT WORTH IT.
I am saving myself from this hell & moving to a reliable & professional brokers this week.

Comments [ 3 ]
Submitted by: S. Lee   ::   NJ

Date Submitted: November 24, 2009
Stock Broker: TD Ameritrade
Time with Broker: 7 - 12 Months
Trade Execution: 1 out of 10
Customer Service: 5 out of 10
Commissions & Fees: 5 out of 10
Trading & Research Tools: 7 out of 10
Recommend: No
Review: cancelled my trailing stop order without notice
I have been with TDAmeriTrade for almost a year but I am very disappointed that things are not working as well as my Fidelity account. The thing that made me decided not to trade with them anymore was I found out they did not recalculate my trailing stop order when my ETF distributed dividends. Not only did they not recalculate the order like Fidelity did, they canceled my order without notifying me. No phone calls, no emails to my registered email address, no email to my TDAmeriTrade account to let me know my order was cancelled!

I have an ETF ADRE in TDAmeriTrade’s account. I set a trailing stop order on September 24th, 2009 in case there is a big drop in the market. On October 28th the market did have a big drop and I was surprised to find the order was canceled only four days after I had set it and my ETF was still in my account and the order was not executed. I contacted their manager and he said it is industry standard to cancel the order when dividends distribution was recorded. In doing so they are protecting their customers’ assets. And it is not their responsibility to notify the customers that the order has been canceled and it is customers’ responsibility to check their accounts to find the information and re-set the order.

The problem with his story is that I have another ETF QQQQ with Fidelity. That ETF distributed dividends on the same day, October 30, so I assumed they had the same ex-dividend day. I also had a trailing stop order on the ETF. I did not have any information about whether this ETF was going to distribute dividends or not, like I did not have any information about ADRE. But I did not need to know because when I saw the actual dividends distributed in my account on October 30, Fidelity had already recalculated the trailing stop order for me. My trailing stop order was still intact when I checked on that big drop day. (QQQQ did not drop as much so the order was not executed that day).

I thought the whole purpose of trailing stop orders is to protect investors while they are not watching. If I monitor my investments everyday and every minute, I don’t need to set the trailing stop order. It is their responsibility to recalculate my order like Fidelity did. Barring that, they should have at least notified me that my order was cancelled so I know I need to re-set it. Instead, they blamed me for not watching my ETF closely to know that my order had been cancelled by them. I don’t watch my investments everyday and I will never be able to do that so I had no choice but to move my business to Fidelity.

Comments [ 1 ]
Submitted by: Evelyn   ::   Michigan

Date Submitted: November 2, 2009
Stock Broker: Ameriprise Financial
Time with Broker: 4 - 6 Months
Trade Execution: 2 out of 10
Customer Service: 2 out of 10
Commissions & Fees: 2 out of 10
Trading & Research Tools: 3 out of 10
Recommend: Yes
Review: Other
Other
Comments [ 1 ]
Submitted by: Rob Miller   ::   MA United States

Date Submitted: July 6, 2009
Stock Broker: TradeKing
Time with Broker: 2+ Years
Trade Execution: 9 out of 10
Customer Service: 8 out of 10
Commissions & Fees: 10 out of 10
Trading & Research Tools: 6 out of 10
Recommend: Yes
Review: Only problem...
pre & post market trading originally had to be called in. I think that's changed but still not available for all pre/post market hours. Check on that. Otherwise, they were good and offer one of the lowest fees. Nice trade executions (though not as good as TDA).
Comments [ 0 ]
Submitted by: jerz   ::   northeast, usa

Date Submitted: July 6, 2009
Stock Broker: TD Ameritrade
Time with Broker: 4+ Years
Trade Execution: 10 out of 10
Customer Service: 10 out of 10
Commissions & Fees: 8 out of 10
Trading & Research Tools: 10 out of 10
Recommend: Yes
Review: Very Impresssive Executions and Research
From a heavy trader with more than one broker on screen at a time... Love their quick, at-a-glance graphics effectively providing *in-depth* research highlights on companies' health. Especially love their trade executions at relatively much lower buy-prices than I offer -- saving me loads o' dough. These money making helpers certainly make up for one of the higher stock trading fees.
Comments [ 0 ]
Submitted by: jerz   ::   northeast, usa

Date Submitted: July 6, 2009
Stock Broker: Scottrade
Time with Broker: 4+ Years
Trade Execution: 1 out of 10
Customer Service: 4 out of 10
Commissions & Fees: 10 out of 10
Trading & Research Tools: 6 out of 10
Recommend: No
Review: Scottrade is NOT as good as it seems; it'll costya
What are people (and award-givers cited on their ads) who like Scottrade comparing it to? I'm a heavy trader who uses more than one brokerage site at the same time on screen. I can tell you COMPARATIVELY Scottrade's best software is AWFUL -- they've cost me many, many times any commission savings. I was with them for years before realizing this. ALSO when I was able to get a trade in, it always was at or near my limit price. Comparatively, I've been amazed at the prices I get at two other brokers I use. I favor one because like only a few, you can trade the entire pre & post markets. AT Scottrade I've had to just sit and watch a stock price drop like a rock after a company reports -- for 15 LONG minutes, until ST opens trading for the pre/postmarket. Right now my favorite is TD Ameritrade, though the price is the highest of the "deep discount" brokers, I think. (Interactive Brokers looks interesting, especially because of the price, but I haven't used them.)
Comments [ 0 ]
Submitted by: jerz   ::   northeast, usa

Date Submitted: August 27, 2008
Stock Broker: TradeKing
Time with Broker: 4 - 6 Months
Trade Execution: 1 out of 10
Customer Service: 10 out of 10
Commissions & Fees: 10 out of 10
Trading & Research Tools: 5 out of 10
Recommend: No
Review: TradeKing is Corrupt
The online stock and options broker TradeKing (www.tradeking.com) is CORRUPT.

Problem #1

Effective August 28, 2008, the American Stock Exchange (AMEX) will suspend trading in the stock of PreMD Inc. (symbol: PME) and will initiate delisting proceedings.

Before the market opened on August 26, 2008, I had 1000 shares of PME in my joint account at TradeKing.

After the market opened, I tried to submit an online “buy” order on this joint account for 3000 more shares of PME with a limit price of $0.04. TradeKing displayed the following error message:

“For securities that are less than $2, we only accept online purchases of 5,000 shares or less. Please reduce the quantity of shares or call us at 1-877-495-5464 to place the order.”

Obviously, this error message is ridiculous because my order shows that I wanted to buy 3000 shares, which is less than 5,000.

I contacted TradeKing via the “Live Chat” service on their website. After I explained the problem to “Adam”, TradeKing’s representative, he replied:

Adam: Alright, you really shouldn't be getting that message.....we're working on getting that taken care of. In the meantime, you can give us a call and one of our brokers can help you with that.

At that point, I knew that TradeKing was pulling another dirty trick on me (see below for previous dirty tricks from TradeKing). I refuse to submit my orders by telephone; I did not open an account at an online brokerage company so I could place orders by telephone.

Clearly, somebody was trying to make it inconvenient for me to buy PME shares during the next-to-the-last day that PME stock would be listed on AMEX.

Idiots. They assumed that I would only submit a “buy” order for PME on the joint account where I already held 1000 shares of PME. However, I have a second account at TradeKing (an IRA account).

I submitted the same order on my IRA account, and TradeKing accepted it. In a short time, my order was executed, and I obtained the 3000 PME shares.

I tried the same order again on my joint account, and the error message still appeared.

The fact that the error message appeared only on my joint account, not on other TradeKing accounts, shows that TradeKing had specifically programmed their software to target me.

Problem #2

On or about May 1, 2008, after Labopharm Inc. (symbol: DDSS) reported its 2008 Q1 results, I tried to submit an online “sell” order for 3000 shares of Labopharm that I held in my IRA account. TradeKing displayed the following error message:

“We are no longer accepting orders online for this particular security. Please call us at 877-495-5464 to place this order.”

I later posted a blog on TradeKing’s Community, questioning the cause of this error message.

TradeKing CEO Don Montanaro stated in a comment to my blog that his firm has received an alert about Labopharm through “a common data-sharing project in which we participate, along with the SEC, FBI, and other regulators and law enforcement officials”. The alert, according to Montanaro, flags Labopharm shares “for suspected or confirmed manipulation”.

However, another member of the TradeKing Community commented, “Strange...placed test orders for DDSS with Ameritrade, ThinkOrSwim, Fidelity - no messages.”

Finally, I sent an email to Labopharm, describing TradeKing’s claim about manipulation of Labopharm stock. Labopharm responded:

This came to our attention a few weeks ago, we looked into it with the help of NASDAQ. We are not aware of any manipulation of our shares nor is NASDAQ. We also have not been informed of any investigation on behalf of any regulatory body related to the manipulation of our shares.

Regards,

Jason Hogan
Labopharm Investor Relations


Clearly, somebody was trying to make it inconvenient for me to trade Labopharm shares online at TradeKing.

Problem #3

When I first opened my accounts at TradeKing, somebody at TradeKing would make random changes to my postal address in TradeKing’s records.

Then, TradeKing would attempt to send a letter to me. The postal service would return the letter to TradeKing as “not deliverable”. In response, without notifying me, TradeKing would block my entire accounts until I complained.

Here’s an excerpt from the final email message that I received from TradeKing:

Dear Mr. Bowyer,

This email is in response to your recent message sent to our Service email inbox. Thank you for your patience in awaiting this response.

I reviewed the account and we have now updated the address based on your instructions below. It appears as though we had the address line transposed.

Thanks
Dave Dusseault

David Dusseault | Director, Brokerage Operations
ddusseault@tradeking.com
Office – 877-495-5464
Fax 561-988-0131
5455 N. Federal Highway, Suite E, Boca Raton, FL 33487


Again, somebody was trying to inconvenience my online trading at TradeKing.


Who would want to inconvenience me?

Well, I previously worked for a “group” that is responsible for many international financial scandals. After I quit, the group was not happy, and they have been making problems for my family ever since.

Have I reported TradeKing to a regulator?

Yes, I submitted a complaint to the Financial Industry Regulatory Authority (FINRA). If I am not satisfied with how they handle my complaint, I will post another message here.


If you have any questions or if you would like to receive an original copy of this comment that includes screen shots, please feel free to contact me by email.

Jeffrey W. Bowyer (an American citizen)
jbowyer@seznam.cz


Comments [ 4 ]
Submitted by: jbowyer   ::   Brno, Czech Republic

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