Does anyone has/had experience with Scottrade about the way Scottrade handle maintenance call? I had $0 maintenance call yesterday at close and a new maintenance call ($8214) came out at open today. This morning Scottrade called me and wanted me to cover this maintenance call in like 4 hours or Scottrade will send out a "sell off" letter (express mail and I need to pay $15 for it) to me and sell my stocks to cover this maintenance call themselves. I feel the timing of this is ridiculous by not giving customer enough time to even send money in. Yesterday that guy from Scottrade told me that they gave customers like 3 days to take care of maintenance call after I told him Ameritrade was giving people like 7 days. But, now Scottrade suddenly change the 3 days policy to like 4 hours today by telling me that's because of deep down on the market yesterday and today. I feel this is a "consumer fraud". I am going to file a complain to Attorney General and BBB regarding this, but before filing I'd appreciate if anyone can give me some ideas and/or experience you had with Scottrade. Thanks. GO MAGS
your account does not get updated until midnight. So what it showed at the close did not take into account the activity of the day. they need to give you 3 days to clear the account. talk to the manager of the office for help
Hi, Thanks for your respond. I talked to the manager of Scottrade but no, she is no use. Scottrade is worse than Ameritrade (I had 4+ years with them) and I wish I have never switched from Ameritrade to Scottrade. Scottrade already sent out a sell off letter to me like they said and I am charged the $15 to cover the express mail. DON'T USE SCOTTRADE!!! Now I am thinking to switch to ETrade or back to Ameritrade.... any idea of ETrade? Thanks.
like they probably figured if like you were dumb enough to like buy a crappy stock like mags on like margin you were like dumb enough to like let them like steal your shares like you are better off like letting them have them like before you like lose more money.