ComplaintsforTradeStation Securities, Inc.

• Initial Complaint

  07/10/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I spoke with an agent on July 5th, was told the supervisor approved refunding me $75 of the $150 total inactivity fees charged given the circumstances I shared. I then did my transfer out request of the $500 in the account and was told I would be able to transfer out the $75 once it was reimbursed and in the account. And, was told that any new $10 inactivity fee should it show up would be reversed. Well, come Monday July 8th I see that it did not transfer OUT but instead, did an ACH deposit of another $500 so I then was told I had to wait SIX BUSINESS DAYS to transfer out again AND there was NO $75 refund as confirmed I would receive. And then today I see a $10 inactivity fee. Yesterday when I called I was told TODAY YOU WILL RECEIVE A CALL yet no call was made to me. I called today and was told the same thing. I was also told the manager would discuss the new $10 fee with me when I was already told I would not be charged again since it was not my fault I had to wait to transfer out. The only way to close the account is to wait longer because that is how their platform operates. I need this fixed ASAP. Unprofessional. Unacceptable. Unethical. I have been in the financial world trading or working since 1999 and have never dealt with this at any platform.

  Business response

  07/18/2024

  Dear **** *****,

  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. Personnel from our Client Experience team called and additionally sent an email to you as of 7/16/24, to acknowledge and address the complaint. Please refer to that email and any subsequent responses to review any information regarding this matter and correspond with that team for any further assistance. 

  Thank you, 

   TradeStation Compliance

• Initial Complaint

  06/17/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I attempted to close my TradeStation Equites (********) and Futures (210LVR01) accounts However due to a $10 fee was told I cannot close my account. This is fairly disappointing as still a fairly new customer to **********************, as I no longer have any use for this account , and was still getting familiar with the fees. I have attempted to ask as a one time courtesy to waive this fee and close my account, and was denied even when asking politely to involve upper management to take a second look. I am requesting a waive of this $10 fee and a closure of my TradeStation accounts.

  Business response

  06/20/2024

  Dear Mr. **** ********,
  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. As of - 6/20/2024, an email was sent to you to acknowledge and address the complaint. Please refer to that email and any subsequent responses to review any information regarding this matter and correspond with that team for any further assistance. 
  Thank you, 
  TradeStation Compliance

  Customer response

  06/20/2024

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *************************

• Initial Complaint

  03/15/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  Tradestation suddenly stopped its crypto services, forcing everyone to sell their positions because they were closing up this section of their business. They gave us a deadline (the value of the crypto we were forced to sell, initiating a tax event, has since increased dramatically). I met the deadline, sold my crypto and removed the funds to my bank. I only use them for crypto, so I went to close my account, There is no way to close your account on the site, so I emailed them and asked them to close my account. Days later they responded and said they can't close my account because there is money on the account. I log into my account and find no balance, I email them again and ask them to close my account. Days later, again, they respond refusing to close my account, I don't want an account with them. They want you to call so they can convince you not to cancel, They are refusing to close my account and are keeping it open against my will -- even though I've requested to close it and removed my funds.

  Business response

  03/21/2024

  Dear Mr. ***** *****,
  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. As of - 3/18/2024, an email was sent to you to acknowledge and address the complaint. Please refer to that email and any subsequent responses to review any information regarding this matter and correspond with that team for any further assistance. 
  Thank you, 
  TradeStation Compliance

  Customer response

  03/23/2024

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *********************

• Initial Complaint

  03/13/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I opened a trading account with ********************** and one day they just randomly closed it without any reason or notification provided. I found out it had been closed because when I would go to enter a trade it kept getting rejected so I called customer service. Their customer service told me that the account was in a "no business" state or something similar and that a review board had made that decision, but no one could tell me why even after being transferred to a few different groups including client relations and account services. The support people would just say that they don't have any information. They said there was no way to escalate the issue and there was no one I could talk to about it. They told me to just take my business to another broker.This entire thing just seems ridiculous to me. I don't know if I am being discriminated against in some way or if maybe they didn't like that I called customer support a couple of times when I had issues or if maybe my balance wasn't high enough or to their liking. They gave me no reason and basically just told me to go away. What kind of business does this?It is also worth noting that I just opened this account in February 2024. I opened it because I joined the Trade With Me Now (TWMN) program and their program, which I am paying $350 quarterly for, says to open an account with this broker. All of the trading indicators that the program includes only work with this brokerage and they seem to have a partnership with them as they also discount commissions. So now I am paying $350 a quarter and I cannot even use the trading indicators that come with the program.

  Business response

  03/14/2024

  Dear Mr. ***** **********,
  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. As of today- 3/14/2024, an email was sent to you to acknowledge and address the complaint. Please refer to that email and any subsequent responses to review any information regarding this matter and correspond with that team for any further assistance. 
  Thank you, 
  TradeStation Compliance

  Customer response

  03/14/2024

   
  Complaint: 21427255
  
  I am rejecting this response because: What exactly is there to accept here? They sent a cold email to me stating "TradeStation (The Firm) has made a decision to discontinue our business relationship. The Firm does not divulge the reason it decides to discontinue a business relationship and the decision cannot be reversed on appeal." ...and then they go on... "This is a business decision by the firm and no further information will be provided regarding the decision. At this time, TradeStation sees your compliant as addressed.".

  You see my complaint as addressed? Really? Because you responded saying that you will provide zero information? What kind of business or customer service is this? It is ridiculous. Also "The Firm"? Seriously? As in the 1990s ******************* movie about the evil law firm? Well, I guess it fits.

  I have attached the email that I received from TradeStation. All I can say is that this business and this way of doing business and how they treat their customers is terrible and I will be sure to pass that message on every chance that I get.

  
  Sincerely,
  
  *******************************

  Business response

  03/15/2024

  Mr. ***** ********,

  Unfortunately, no further information can and will be provided. The email sent to you today references the decision and the agreements you signed that permit this. The reasoning behind the decision does not have to be disclosed. 

  Regards, 
  TradeStation Compliance

• Initial Complaint

  03/11/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  Date is 3/11/2024 Trade station platform will not allow me to sell a trade I wanted to get out of and at present my loss is $160 dollars.

  Business response

  03/14/2024

  Dear Mr. ****** **********,
  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. Personnel from our **************************** called and left multiple messages for you regarding this matter.  An email was also sent to acknowledge and address the complaint. Please refer to that email and correspond with that team for any further assistance. 
  Thank you, 
  TradeStation Compliance

• Initial Complaint

  03/11/2024

  Complaint Type:

  Delivery Issues

  Status:

  Answered

  More info

  the charting software has connetivity issues.many times you place an order to buy or sell.the stop order is not filling.just today i bought one contract in an index.the software would not allow the stop.so now i cant get out.i try calling desk.45minutes my equity was at the mercy of the market.and of course you sign away your life to tradestation so there not held responsable.i never got the trade desk to answer the phone.this is bad.im not doing business here.

  Business response

  03/12/2024

  Dear Mr. ******* ***,

  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. Records show you called in and spoke to a Client Experience representative yesterday -3/11/2024. When connectivity or other similar issues are present, hold times for the Trade Desk team within the **************************** tend to inherently be longer than the usual hold times, if any. Based on the conversation yesterday and your desired settlement of 'no further comment by the business', we will consider this complaint addressed. If you would like to discuss this matter further, you can call the Trade Desk team again who very often, have no hold times and can assist you right away. 

  Thank you, 
  TradeStation Compliance

• Initial Complaint

  03/09/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Yesterday I was told by Tradestation that my account had been closed and no one was able to give me an explanation of why!! I have been using Tradestation for over a year now getting familiar with their desktop platform as I trade options contracts. I went to deposit more money into my account and it was denied by Tradestation. So, I called them and they said Tradestation apparently did a review for whatever reason, and decided not to do business with me but they couldnt tell me why or what the issue is. They have lots of platform issues causing orders not to fill. Then sometimes it freezes and then to many orders fill that you didnt want to. I was willing to deal with them because I like their Matrix feature. After this stunt, I will never use them again. Im just glad it happened now and not later. I had decided I was familiar with the platform enough to use them as my main broker and was about to put 100K into my account. I also had many friends and family members that I was going to refer to them for their trading. Now, *** told all of them to stay far away from Tradestation. Glad I dodged that bullet!!

  Business response

  03/15/2024

  Dear Mr. ******* *****,
  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. As of Friday- 3/15/2024, an email was sent to you to acknowledge and address the complaint. Please refer to that email and any subsequent responses to review any information regarding this matter and correspond with that team for any further assistance. 
  Thank you, 
  TradeStation Compliance
  

  Customer response

  03/15/2024

   
  Complaint: 21409372
  
  I am rejecting this response because:
  They still cant give me a reason why they closed my account. They emailed me saying my account has been closed and will not give a reason why!!
  Sincerely,
  
  *************************

  Business response

  03/15/2024

  Mr. ****** *****,

  No further information will be provided. The email sent to you today references the decision and the agreements you signed that permit this. The reasoning behind the decision does not have to be disclosed. 

  Regards, 

  TradeStation Compliance

  Customer response

  03/18/2024

   
  Complaint: 21409372
  
  I am rejecting this response because:
  This is very shady practice and unacceptable. You randomly close a clients account and cant give a clear reason why? Terrible practice from a broker!!
  Sincerely,
  
  *************************

• Initial Complaint

  03/06/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  ******** trade station account of *****************, at 2/28/2024 strata trust sent re-registration paperwork from strata to TradeStation to authorize you to transfer shares to Fidelity. Strata sent this ACAT request to ********************************* Please process them.I called several times to trade station and no response.

  Business response

  03/12/2024

  Dear **** ****,

  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. After reviewing your account record, we can confirm that the transfer was completed, and an email was sent from a manager within the **************************** to inform you. Please reach out to that team with any additional information needed regarding this matter, and they will be happy to assist you further. 
  Thank you.
  
  Sincerely,
  
  TradeStation Securities, Inc.

• Initial Complaint

  02/25/2024

  Complaint Type:

  Delivery Issues

  Status:

  Answered

  More info

  TRADE STATION PLAT FORM FAILED HAD A CLITCH FOR 12 MINS WOUD NOT LET ME CLOSE THE ***** FOR 12 MIN , NOR DID THERE CUSTOMER SERVICE CLOSE IT OUT THEIR SYSTEM FAILED ANGAIN SAME THING HAPPENED 2 WEEKS AGO THEY ARE NOT STEALING $9000 OF MY MONEY.!!

  Customer response

  02/26/2024

  It said refund required you guys had zero no not zero I want my $9000 back

  Business response

  03/07/2024

  Dear Mr. **** ********, 

  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. As you are aware, there has been numerous phone conversations and email correspondences with you referencing this matter. The specific details about your orders and the circumstances regarding it, has been addressed. Consequently, the Firm denies your Complaint and has sent you a formal letter in reference to your correspondence since. 

  Regards, 

  TradeStation Compliance

   

  Business response

  03/07/2024

  Dear BBB team, 

  The Firm has responded to this individual about this complaint. This additional information is being shared only with you and should not be provided to the individual. This supplemental information is provided to shed more light on this individuals' actions and is not intended for the public to view. 

  The attached document is a letter that was sent from TradeStation's General Counsel to this individual on 2/28/24. He has made several threats to employees and has been made aware that he must cease and desist from continuing this behavior. He has continued to do so even after this letter was sent. 

  Thank you,

  TradeStation Compliance
  

  Business response

  03/07/2024

  ****************, 

  The clarification request stated, "Below are some points that BBB needs clarification on before moving forward". I could not find any specific points aside from a bolded text that stated, 'Please provide a reply that we may forward to the consumer regarding the complaint.'. 

  Please let me know if there is anything else aside from that. Regarding that request, you may forward him the response we entered for the complaint. I have pasted it below as well. Thank you!

  "Dear Mr. **** ********, 
  
  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. As you are aware, there has been numerous phone conversations and email correspondences with you referencing this matter. The specific details about your orders and the circumstances regarding it, has been addressed. Consequently, the Firm denies your Complaint and has sent you a formal letter in reference to your correspondence since. 
  
  Regards, 
  
  TradeStation Compliance"

• Initial Complaint

  02/20/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Today Feb 20, 2024 ** securities liquidated part of my portfolio on margin without any prior notice, at the wrong possible time causing a loss of $5,816 USD.the liquidation of #7 RTY contracts was done at 12:42 pm EST while the notification of margin call came in at 12:49 pm EST (after the fact). i was personally aware of the requiremt to get off marging by the mkt close 4pm EST, .not at all during the trading hours (that i still do not understand to this moment). i knew i was holding positions on margin, as i do almost each day and despite none can predict the future i was almost 100% sure to recover unrealized losses by the closing, as indeed did happened (had i held those positions to the close, i would have close flat instead of $6k losses). asked about this action TS responded i am required to have stop loss order in place when on margin. i did not have them; hovewer i mostly never had for many months including last week on Thursday when i had also 8 contracts on margin. i was never, ever subjected to liquidation as today, i want to point out i only twice (last week and today) held 8 contracts; all remaining time only 2 or 4 contracts. yet TS liquidated my account the day i had the highest # contracts. i can provide upon u request data showing past trading days with much larger paper losses than today, but no liquidation was done. i add also that the 8 contracts long today were the result of TS platform issue: i pointed out to them more than once already the platform often freezes when i enter orders so it did this am: i enter the day with two long contracts and tried to buy two more: it did not exectute my order so i tried again and again till all the sudden all the orders showed up and got filled ending with 8 contracts vs 4 i wanted. from a fair stand point, despite they will slap to my face the rules they require as top loss orders (but that they do not consistently apply) i want to make clear they should never be allowed to liquidate without prior notice and forbidding the customer other options he may have (prior to today i received notice first) and if they do it should be consistent not one off day. they should pay me the loss and prior losses prior days when the freezing caused me to have unwanted positions and losses... i can provide evidence: they did not fix platform issue despite i asked. i cant trade with TS anymore as these freezing will happen again and again. and who pays for the huge costs to take on a new platform now?

  Business response

  02/23/2024

  Dear Mr. ******* ********,

  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. As of Wednesday- 2/21/2024, an email was sent to you to acknowledge and address the complaint. Please refer to that email and any subsequent responses to review any information regarding this matter and correspond with that team for any further assistance. 
  Thank you, 
  TradeStation Compliance

   

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩