Webstreet says we are right and YOU (the client) are wrong. They say, if you can't figure out what we are doing, that's your Problem.
Our Case, one of several: We bought a stock and it dropped fast. Had to put in 2 sell orders to finally get out with a 25% loss. This was at the start of the day. Webstreet posted the "executions" when they happened that morning. At the end of the day after the close, I see half of the stock back in our positions window. Mean while, this stock has drooped another 20%. I call Webstreet. One person says we sold it, the other says, wait! "IT LOOKS LIKE YOU WERE NOT "DESERVING" OF PART OF THE SELL. SO WE PUT IT BACK IN YOUR ACCOUNT AT THE END OF THE DAY. Now webstreet says, It's the client's problem. They have no responsibility.
If I have this straight, if someone, and nobody knows for sure who that somebody is, decides that you are not "DESERVING" of a "BUY" or "SELL", they either yank it or put it back.
How about this scary possibility; You finally hit one of those 100 baggers with 25,000 shares, and they say, "WE DON"T THINK YOU ARE DESERVING OF THIS "BUY" AND ONLY 5,000 SHARES ARE NOW IN YOUR ACCOUNT. QUESTION: WHO GOT THE OTHER 20,000 SHARES????? ANY GUESSES OF A NEW WAY TO MAKE MONEY IN THE BROKERAGE BUSINESS. We are now in the process of finding a broker that will tell us we "BOUGHT" it, or "SOLD" it and honor that commitment of serving the client honestly and accurately. AND NOT DECIDING IF WE ARE DESERVING! That word, "DESERVING" is a slap in the face! |
