Ameritrade squeezes every penny they can from you.
Written: Dec 02 '04
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Pros: decent website. Helpful knowledge base and research tools with various stock tracking charts available.
Cons: High startup cost. Too many unknown fees. non-userfriendly navigation. Slow customer service.
The Bottom Line: Use someone else, ANYONE else. Definitely do plenty of homework before choosing your online trader.
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| zoemorn's Full Review: Ameritrade |
Ok first off, I don't consider myself an "expert trader" , not even a "novice trader"- i started an Ameritrade account when the market was in its prime a few years ago and of course it crashed soon thereafter but not until i'd already sunk my money into some stocks. So the whole "i bought high and sold low" part is my fault which i totally understand and have accepted. Here's the problem, Ameritrade charges you "maintenance fees" when there is any cash leftover in your account.. have 20 or 30 dollars leftover from what you deposited (oh by the way their ways of depositing funds stink too) but either haven't found or decided on stocks to use them towards? well you'll be charged just for having it there. Not to mention the realistic fact that it'll be like playing the Price is Right to equate the money you put in to stock prices their trade fees, so good luck with that.
So ok, after a few years and maintenance fees that i was never told upfront about ( or maybe it was in fine print, but c'mon people fineprint = shady lowlifes to me) I was finally fed up and ready to just get out of it altogether. Well one of my stocks had actually went unsellable.. thank you MCI Worldcom, so I filled out a form that Ameritrade had to relinquish the stock, and then called to close my account and recieve the VERY meager 28 dollars left in there when the final kick in the pants was delivered. " theres a 23 dollar fee to take care of that unsellable stock" ... unbelievable- perhaps this is normal in the stock world, but its still unbelievable- 23 dollars for something that is worthless to me and everyone else. Well i'll be waiting by the mailbox for my check of 4 dollars (and anyone who uses Ameritrade knows approximately the minimum of what you have to put in to start an account so you understand my loss).
Thanks Ameritrade, for nothing.
Recommended:
No
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zoemorn
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Reviews written: 2
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