TD Ameritrade and Think or Swim Merger

So it looks like TD is having all kinds of problems with this merging of accounts with ToS. I had new username problems yesterday. That’s an annoyance, but a one time pain. Then I find they haven’t unified futures and equities into one account, so you have to manually segregate funds between two accounts. That is unacceptable. But their FAQ says they are working on the integration of the two and expect it to get worked out. When? Who knows.

Now as of this morning my account shows zero cash, but a single position in an FDIC insured account. I assume that this is the overnight sweep into an interest-bearing (LOL) deposit account. ToS did this as well, but still credited you with cash and buying power. So basically now you can’t trade pre-market. I have no idea if this is permanent or just a temporary glitch. If permanent then you’ll have to tell them you don’t want cash sweeping overnight.

So these are pretty heinous issues. Before I get out the torches and pitchforks, I’m going to give them a bit of time to see if they can sort it out. After all, this is only trading day #2 post-integration. However, they need to resolve this very soon or a lot of traders are going to bail on them as they miss opportunities in the markets.

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2 Responses to “TD Ameritrade and Think or Swim Merger”

  1. J Says:

    I didn’t have any problems logging in, but had the same margin problems. I definitely went into panic mode when I saw no cash was available. The platform just shows a single position in an FDIC insured account under “equities”. Also, it shows that I have buying power but am simultaneously on “maintenance call” (I was not even remotely close to this before the integration).

    While reading the post above puts me a little more at ease that this may be a temporary issue, I’ve asked that they transfer my account back or give me other alternatives to the new format.

  2. Gregory P Says:

    I get the feeling that everyone is asking for their accounts to be put back to the way they were. But every customer service representative that answers the phone is pretending like you are the only customer to be complaining, when it is clear there must be many thousands of people effected.

    The format is the least of the problems. They have completely modified the entire structure of the accounts and the margin permissions which were in effect without informing customers or preparing customers or adequately helping customers after the screw up.

    Just really pathetic, shocking customer service.

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