Bob,
That's seems reasonable to me. Schwab will do right by you if you are due a fill -- they don't screw their customers, it's as simple as that. Schwab has some 6 million active accounts per their annual report. On any given day, they have many hundreds of requests to check time and sales for possible fill disputes.
Keep in mind that a trader's priority is to fill orders; disputes are very important but not the #1 priority -- that's the reality of a trader. Also, at Schwab at least, the time your trade gets reported back to you is NOT necessarily the time of execution.
I don't know your background, depth of knowledge, experience, etc. so don't take this personally. However, for the benefit of others....
Many firms get bashed on these threads. In my experience, an overwhelming majority of investors who complain about bad fills, non-fills, etc. via this medium do not have a firm grasp of the nuances of trading rules to each various stock/option exchange. They rarely know and understand thoroughly the myriad of trading rules, order priorities, etc. which exist and would explain many of the reasons they aren't filled. They have their Quotreks or whatever and think that their due. Period. No question about it. Most of them get their trading rule knowledge from the newspaper (the new NASDAQ rules are a good example; many totally misinterpreting them) -- a sorry source for info on virtually anything.
Too many investors feel that any time there is the slightest of errors by any brokerage, that the firm was trying to screw them. I can't debate your specific trade situations due to lack of info, but from my experience, that is VERY UNUSUAL and if you feel you are getting rude service then TALK TO A MANAGER. They record every phone call at Schwab and a manager there will take action to listen to a call for such a thing.
I doubt I've altered your opinion, but I've obviously had more positiv e experiences. Good luck wherever you trade!
RR |
