Ameritrade Is Accused of Delaying Trades

Ameritrade (not Izone) now has some direct routing options. According to TradeStation securities, Ameritrade only sends 45% of its auto-routed orders directly to the exchanges. That is actually better than a few other competitors---but still only half of what tradestation sends.
 
Quote from spreadgod:

Ok, how can an order that was in for the regular session execute in the afterhours session. That has bullsh*t written all over it.
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With Ameritrade, if the order was placed with DAY+ or GTC+ expiration, it stay open after the regular session is over
 
delayed trades???

LMAO... anyone heard of DATEK?

I used to routinely lose 25% CHUNKS of my account due to them and their fckin server 'crashing' and 'melting' and being 'busy.'

yeah, too busy to process MY trades. :D

I ultimately ended up blowing my account but made over 300 trades in 3 months in which the majority were stalled for some reason or other costing me a lot of money.

My understanding is DATEK later melded into Ameritrade somehow.

In comparison, this morning with my fx broker I made 3 trades in a row scalping EUR/USD for 30-pts total long. Each trade was done the instant I clicked buy then close.

Had those trades been done with DATEK I would have gotten creamed.

Good reporting, Fxpeculator.

fx
 
Quote from mksummny:

I dont understand why anyone would use ameritrade as a fulltime trading platform. Makes me sick thinking of how they get used and abused everyday with their orders.
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i used to beone of those idiots yrs ago. i didnt know any better.lol
i finally clued in when an i put an option orderin at the best ask but it didnt get executed cause ameritrade is only interested in orderflow. so there my order sits at the phlx even though the cboe had an ask that would have filled it. of course the phlx is a pos also. :D
 
:D :D :D :D

Quote from steeldust:

i used to beone of those idiots yrs ago. i didnt know any better.lol
i finally clued in when an i put an option orderin at the best ask but it didnt get executed cause ameritrade is only interested in orderflow. so there my order sits at the phlx even though the cboe had an ask that would have filled it. of course the phlx is a pos also. :D
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Quote from j_medved:

With Ameritrade, if the order was placed with DAY+ or GTC+ expiration, it stay open after the regular session is over
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Yes, for a limit order maybe. But this sounds to me like it was a market order that was being worked not held, so Ameritrade must have had discretion to fill it. (Unless the idiot actually put in just a straight market order for 175,000 shares.) Now they're coming back and saying they're not happy with the price Ameritrade got them.

Quote from fxpeculator:

Another class-action lawsuit against Ameritrade is pending.

That lawsuit was filed by David Zannini of Angier, N.C., and three other Ameritrade customers who said the glitches in Ameritrade's online system were caused by "antiquated and inadequate systems and an insufficient number of employees" to help customers make trades.

The lawsuit claims Ameritrade spent its money on recruiting new subscribers rather than fixing the problems.
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OMG......please! I want to sue McDonalds because they didn't have enough employees at their store during the lunch hour rush and I had to wait instead of going to another restaurant.
 
Quote from stock777:

How come lawsuits like this are always for something stupid, while the real scams go untouched?
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this is not a stupid lawsuit. other perhaps less objectionable behavior by ameritrade will
come to light and perhaps the regulatory bodies will do their job.
 
The regulatory authorities are"SRO's".....SELF REGULATORY ORGANIZATIONS. That's why the room is such a mess.

Congress has to step in and say, you boyz just aren't up to the task. We'll do it. Then, it'll really be a mess.

It's going to take a crisis to straighten everything out. Ah, what the hell. It's only money.

By the by..ldon't you see the deep discounters doing what the full service firms did 25 years ago?
 
I'm one of those idiots using them now... can someone suggest a better brokerage firm to use? Is IB the best out there? Thanks
 
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