I placed an order for 45 shares of Ameritrade
when the stock was trading at around $114. Then after about five minutes
or so, I decided that something must have been wrong and canceled the
order. The stock continued to rise and I placed another order, this time
for 40 shares at around $123. I canceled that order as well. So what
happened? They bought me 85 shares! Not only that, but nearly half of
that was with money I don't even have in the account! Now, let me get
this straight. I am 17 years old. I have a custodial account. I do not have a margin account. I am not allowed to trade
stock options because they are too risky, I am not allowed to buy IPO's because they are too risky, and yet, I am allowed to trade with
money that doesn't exist? Basically, I can place an order for 10,000
shares of IBM based on my word alone; my word that I will send them a
check for $2,000,000 within three business days in order to cover the
transaction. Does that sound fishy to you or what?
Now what do I do?
This happened to me once before. I called E-Trade, waited on hold for 4 hours, and finally hung up the phone. I faxed a letter over to them,. No response. Luckily, I sold and the trade ended in my favor. This time however, I am fed up.
I will try and call E-Trade tomorrow evening. If I fail to get a proper response, or if I fail to get connected, what am I to do? Can I take E-Trade to small claims court? I would do it, oh yes I would. I am angry, upset, frustrated, annoyed...They will not beat me, not if I could help it... |
