I had bought 20,000 shares of xyz stock for under $4.00 p/s. According to the margin-account agreement, I was suppose to put-up 100% of the purchase price if the value dropped below $3.00 p/s. Within a few weeks and given our wonderful market volatility, the stock dropped to $1.25 cents p/s. WAY OVERSOLD! I didn’t panic, but TD Ameritrade did issue a small margin call for $4,000, which I promptly deposited into my account. Within two days, the stock declined again to $.86 cents p/s, and WITHOUT NOTICE they sold out approximately 4,000 shares I had in the position to cover a $3,400 margin call which was due that day, but they decided to pull the trigger early at 9:30 a.m., without giving me any chance of depositing the funds in the account or even calling to advice me or anything for that matter. I was a knee-jerk reaction on their part and absolutely unecessarily done. About 12 noon, the stock was trading at over $1.00 p/s. These companies are suppose to sell you out before the close of business AFTER the issuance of a margin call provided you don’t comply.

But given this experience and my discussion with their risk analyst and manager, they really didn’t give a s**t and the risk analyst sounded like some newbie fresh-out of college with no “REAL” world experience on the functioning of the markets. The risk analyst further stated that they had been selling-out other people for the last few weeks, like if that was suppose to restore confidence or something in their company. How foolish can they be! This company is operated by people who don’t give a crap about clients because they have so many that loosing one will not have any impact on their business.

WATCH-OUT, THEY WILL SELL YOU OUT WITHOUT WARNING! And for the record, I was NOT in federal violation of the account at the time of the sell-out. I have filed reports with the SEC, FINRA and to date have already received a reply from their cheif compliance officer stating on this letter that their will not reverse their decision because such facts are stated in the margin agreement in VERY FINE PRINT!

I am currently shopping around for another brokerage firm, but I would highly recommend that you STAY-AWAY from this company. They are crooks!

I had bought 20,000 shares of xyz stock for under $4.00 p/s. According to the margin-account agreement, I was suppose to put-up 100% of the purchase price if the value dropped below $3.00 p/s. Within a few weeks and given our wonderful market volatility, the stock dropped to $1.25 cents p/s. WAY OVERSOLD! I didn’t panic, but TD Ameritrade did issue a small margin call for $4,000, which I promptly deposited into my account. Within two days, the stock declined again to $.86 cents p/s, and WITHOUT NOTICE

-Royce