In August TD Ameritrade took the final steps to integrate the accounts from the acquired Thinkorswim into their trading network. When what was reported to be the final 250,000 customer accounts were integrated, TD Ameritrade admitted that they experienced some “issues.” A later report, also confirmed by TD Ameritrade, seems to indicate that issues related to the integration continued beyond a single incident.
The White Law Group has been working with damaged investors over the last several months to investigate potential securities fraud claims related to the integration problems. We have spoken to many traders who have experienced serious issues with their accounts resulting in significant losses.
Many of the damaged investors were trading in Thinkorswim’s Portfolio Margin Accounts. They report to have experienced difficulty on the Thinkorswim platform executing certain trades. Another common complaint has been that some traders have had issues with margin calls.
Many of these problems seemed to have happened in a similar time period, in early August, but reports indicate that problems with the integration of Thinkorswim into TD Ameritrade aren’t limited to just one period of time.
On September 30th a TD Ameritrade representative told Bloomberg that “We encountered some issues just after market open this morning that impacted some of our clients, particularly those on our Thinkorswim downloadable trading platform…”
TD Ameritrade emphasized that the problems were fixed by later that same morning, but some clients were not pleased. One trader told Bloomberg, “I’m going to have to look at alternatives because this is not reliable.” It is understandable for traders that need a reliable trading platform in order to make a living to be concerned with these issues.
The White Law Group continues to gather details related to these Thinkorswim and TD Ameritrade platform issues in order to best determine how to represent clients in recovering their losses suffered as a result of the problems.
If you are a Thinkorswim client that has experienced difficulties since the August integration with TD Ameritrade and would like to speak to a securities attorney about your potential to recover losses or have information that may help us better represent other traders please call our Chicago office at 312/238-9650.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.