I need a place to bitch about OTHER Brokers as well.
If you want a horror story, try this:
CT Securities
SCREW-UP SERIES #1:
CT combined CT Market Partner web access with their web banking. As I have only a trading account with CT, and no banking account, I lost web access to my account!
I called to rectify, at first they wouldn't issue a bank card without a bank account (you need one to log on). Then they couldn't make it work. I called and talked to the morons FIVE times before someone figured out how to connect my trading account with the card they finally issued me.
SCREW-UP SERIES #2:
- Placed buy for 1500 GLE.PR at 2.60
- Order was filled and confirmed.
- Order was retroactively cancelled by computer because the currency of the account and the currency of the equity didn't match.
- I emailed to bitch, they emailed back saying it was corrected.
- The computer cancelled it again, because the currency of the account and the currency of the equity didn't match! Naturally, I emailed again. And phoned.
- They responded that they would fix it this time, by opening a $U.S. account. They did, but didn't use a currency conversion factor. I emailed and later phoned them to point this out and to remind them to transfer the correct amount from the CDN to the US account.
- They re-re-cancelled the trade and re-re-re-entered into the U.S. account, but used the wrong conversion (dividing by 1.5 rather than multiplying) and did not transfer the funds. Instead, they charged me interest on the negative balance. Another email
- they credited the interest, re-re-re-cancelled the trade and re-re-re-re-instated it correctly.
Whew!
SCREW-UP SERIES #3:
I tried selling the 1500 GLE.PR...
You guessed it...SCREW-UP SERIES #2 all over again in backwards slow motion. I'm sure I could hear film noir theme music.
To top it all off, they hit me for 2% on each conversion.
These Screw-ups took place over the last month. I hadn't traded equities in this account before then. I opened the CT Account to access on-line bond trading. Unfortunately, their spreads are too high to trade effectively.
This account WILL be closed with a week or two.
Can anyone top this for a broker horror story? If so, you have my sympathy. |
