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Absolutely correct.

If he really believes they have made a mistake he can file written complaints with: (1) ETrade Compliance Dept in writing (then wait for a response before going further) (2) http://www.finra.org/investors/protectyourself/p118639 (3)...

I have a question for you (the original poster). Are you familiar with how options are accounted for, including such concepts as realized and unrealized gain, intrinsic value, market value, book value, time value, premium, assignment, exercise, in-the-money, debit and credit, etc.? If not...

I see that you had assignments. You do realize that these normally correspond to a loss of the amount your short option is in the money, at least on that leg? Other than that, statements are always in balance because they use double entry bookkeeping. So the statement is never obviously wrong...

As I said, you need to explain the circumstances and detailed time line in a far more detail. Just the bare fact that you lost the money and there was a margin call does not entitle you to recover from the broker. It is like saying, "I had a car accident, can I recover damages from the...

Your account can actually go to a debit balance in fact. When this happens, you have to come up with additional money to bring it up to zero. They will sue you or send your account to collection if you do not send them the money. Such suits happen not infrequently when accounts go to debit...

Yes. I use mostly my own code, making extensive use of the data.table package, and IDate to represent dates. You need to use vectors and data.tables for everything with no loops (i.e. in an Excel-like manner). If you use loops to iterate over days, it will be too slow and I recommend...

More news. The Trustee is proposing an agreement with the class action plaintiffs to coordinate their suits against the banks and other defendants. That part sounds fine to me in principle. However, I am puzzled by one part of the agreement which is cited by the WSJ in a story titled...

They have just proposed the second distribution. The first was 30% for customers who used U.S. exchanges. The second will be only 7%. http://pfgchapter7.com Arggh!

According to https://www.tdameritrade.com/funding.page#2 Were there any uncommon aspects about the original transfer (e.g. foreign country, multiple people on the account, an account in the name of a business, multiple bank accounts involved, etc)?

Every major bank in the word trades both, and some central banks, and exploits every minute deviation, so there is no arbitrage opportunity left for small traders (or even most banks for that matter). There can be rare momentary exceptions when violent moves occur suddenly when one market is...

Many brokers do not state their commissions on their site and they are not obliged to do so. You can be sure that when no commission is stated on the web site, the commission rate is negotiable. Commissions are normally negotiated prior to trading as a function of the type of trading you...

Exactly right! But you are about the first person I have seen on any forum to say that, or indeed to say anything at all on U.S. Bank liability. People are far too apathetic and have been focusing on how to write off losses for tax purposes or on future reforms instead of first and...

Great article! Thanks for posting it.

Here's some news that I was hoping for : http://www.reuters.com/article/2013/11/06/usbank-cftc-lawsuit-idUSL3N0IR0V720131106 "A federal judge rejected U.S. Bank's motion to dismiss a lawsuit that accused the bank of letting Peregrine Financial founder Russell Wasendorf Sr secure loans...

Very good! I think that for certain traders, Zumo and Generic Trades could be excellent, if they do not need a more elaborate platform/. It all depends on platform needs.

The difference is zero because IB includes a comprehensive trading platform in its 85 cent cost. Actually 50 cents (max. 60 cents) plus trading platform cost is the standard you can expect to pay at any futures broker (you will have to negotiate at some). IB is 85 cents including a...

I agree completely. Posting those famous old threads on the main page guarantees that newbies will resurrect them by adding new mostly-trite posts. This despite the fact that the threads eventually stopped because they were logically complete at a certain point. Adding more trivial newbie...

Try adding the value of your open option positions to their account balance and see if that equals what you think the balance should be. Many firms take out the full option premium you pay out of your balance right away, but do not include the current value of the options in the balances, not...

Post the full original statements in question (not a summary of them) and I will explain to you how they calculate the balances. (You should cover up or otherwise *fully* obliterate your account number and name and address, and if you wish, the broker name too). If your broker has online...