tdameritrade = Stock Nanny......lol........WORST BROKERAGE....z

The Bad Quote Issue, Illustrated

Watch List


Level II


On the watch list, the bid shown is VFIN's, rather than the best bid. The pattern seems to be showing the higher of VFIN or HDSN as the bid, and the lower of VFIN or HDSN as the ask. Of course, sometimes the watch list is correct.

Gainskeeper - TDA really doesn't give a darn

I e-mailed TDA calling their attention to an incorrect market price. I thought they might actually have it fixed, let alone thank me for bringing it to their attention. Instead, here's what I got:

TD AMERITRADE and its Information providers ("Providers") do not guarantee the accuracy of the information and data provided on Gainskeeper. Quote information for options that trade on multiple exchanges may not be reflective of trading in all markets. Quote information, either real-time or firm, for OTC Bulletin Board, Pink Sheet and penny stock securities may not be available as these securities trade on a manual basis in markets which may not be electronically linked. TD AMERITRADE and its Providers are not responsible for the quality or suitability of this information.

Sincerely,
Tony C.
Apex Client Services, TD AMERITRADE
Division of TD AMERITRADE, Inc.

Tax Lot Selling

Unless you instruct TDA otherwise, you are considered to have sold your oldest shares first (FIFO - first in first out).

To tell them otherwise:
1. Wait until the sell order executes.
2. Go to Client Services, Contact Us
3. Click on the E-mail link
4. Topic: Client Services
5. Inquire About: Versus Purchase
6. Send them purchase dates for the newly sold shares (transaction numbers if multiple purchases in one day)

You'll receive an e-mail acknowledging your request.

Confirmation should then include the versus purchase information (verify this). If it does not, reply to the e-mail to rectify.

On two occasions I've had to get a supervisor involved:
1. Clueless employee told me tax lot selling was only available for broker assisted trades.
2. Confirm was incorrect after twice giving them the correct information.

I started this board because of an issue that has been discussed at length on the CTGI board, but is probably not unique to CTGI.

For Apex customers (active traders or 100K in assets), a Command Center is available. The Watch List there shows current bid and ask; however, it frequently shows the bid and/or ask for HDSN or VFIN, rather than the best one available. These bad quotes also appear when entering orders on the website.

Issue may be with one of their vendors: same quote problem has been reported for Scottrade.