Think or swim/Tdameritrade acted up this week
- Thread starter greeneveryday
- Start date
That is why I said TOS has been shi@@tty lately. I never had an issue last year until this year. There has been occasion where I could not even sell my options....When I emailed them, they just replied with apology and could not do anything for it.
On 1/2/2020, my orders were not executed at all and I could not place any orders/nor sold my positions. This is the email from them"
We experienced issues with our systems on 01/02/2020 that was preventing some clients from placing trades or viewing their account balances. The issues also caused delays in receiving fill reports from the market. The issues have since been resolved. Our trading department review all placed orders that may have been affected to ensure they were either executed or canceled properly. However, we are not able to make any adjustments or provide any compensation for hypothetical orders that were never actually placed."
Keep that email and file a written complaint - if it's as you describe they are just trying to bullshit their way out of responsibility. Hypothetical order that were never actually placed - pretty funny - file a complaint with FINRA and include their response. Compensation isn't solely at their discretion and they -most likely - owe you a fill.
TOS has definitely been having big issues lately. I’ve never seen orders take so long to go active. Canceling orders or cancel/replace take sometime 30 seconds+ before the order even cancels. My best guess is since commissions went to 0 they’ve had a massive amount of new users all connecting to them and they’re overloaded. It’s lagging their servers. I’d imagine it’ll be quickly fixed otherwise they may have a bigger issue on their hands.
Reach out to Andy Spiwak at FINRA in Chicago. He was formerly at CBOE and is pretty sharp when it comes to the functioning of the option markets. They may ask you to file an arbitration, but have them open a complaint and give them copies of anything you have to support the claim. Copies of trade and order entry times are especially helpful if there is a recorded trade blotter.
Were you trading from your phone? TD reguires you to input whether its a closing order or an opening order. It defaults to 1 of those. If you swap the two (have "to open" listed when you want to close your position) it will reject. Ill admit, its dumb.
It is a little late, but I have same issue. IBK didnt fill limit at ASK I tried with MKT and get price cap on MKT order. And that is from their web explenation: