Charles Schwab (SCH) -- A tech-stock profile? Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Charles Schwab (SCH) -- A tech-stock profile?

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Al Cano who wrote (846)	8/11/1999 5:23:00 PM
From: Steeliejim	Read Replies (1) of 1390

Let's not forget that the quality of service is as important as speed. They are terrible at handling on line trading. I went with SCH, paying more than the others, because they are supposed to be the best. I have a Platinum account, and made over 200 on line trades with them last year. They really need to get their act together. They tagged a "free ride" on me that occurred because their support group gave me the wrong info. Then they accused me of another one that was a complete screwup on their part (I bought and sold the same day and provided the funds withing the 3 days allowed. The idiots sent a letter claiming a 2nd free ride without waiting the 3 days). It was nearly an act of congress to recind the 2nd ride accusation--a real no no. One problem is that their margin department is completely separate from their trading department and also disconnected from the info that shows up on the account balance screen. Another is the general lack of knowledge by the team reps. The latest snafu was a 5k share trade I made in NITE last week. First, the ask dropped below my bid and held there. The trade didn't fill--not even a piece of it. The price then went up, and yeah I was P-----. So I called my Team D. The rep. didn't have a clue--in fact the only one that seems to know what is going on is the Team Supervisor and you can't necessarily trust what he tells you either. The price momentarily dropped again. This time it filled. I sold within a 1/2 hour for a 3/4 point profit. I wrote a check for the $80.k due showing on the account screen (after verifying the number with a Team D rep.) THEN, I got a margin call letter saying I need to send an additional $350. or SCH will sell off some of my other holdings. I called again and another rep. said to ignore the letter. Can I get something in writing recinding the first letter? Oh no, they couldn't do that. But don't worry about it. The above is only a small sample of the problems I've had. I'll bet I'm not the only one. Pathetic. Thanks for listening. Jim

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next