Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:02/25/2024

  Type:Delivery Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  TRADE STATION PLAT FORM FAILED HAD A CLITCH FOR 12 MINS WOUD NOT LET ME CLOSE THE ***** FOR 12 MIN , NOR DID THERE CUSTOMER SERVICE CLOSE IT OUT THEIR SYSTEM FAILED ANGAIN SAME THING HAPPENED 2 WEEKS AGO THEY ARE NOT STEALING $9000 OF MY MONEY.!!

  Customer Answer

  Date: 02/26/2024

  It said refund required you guys had zero no not zero I want my $9000 back

  Business Response

  Date: 03/07/2024

  Dear Mr. **** ********, 

  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. As you are aware, there has been numerous phone conversations and email correspondences with you referencing this matter. The specific details about your orders and the circumstances regarding it, has been addressed. Consequently, the Firm denies your Complaint and has sent you a formal letter in reference to your correspondence since. 

  Regards, 

  TradeStation Compliance

   

  Business Response

  Date: 03/07/2024

  Dear BBB team, 

  The Firm has responded to this individual about this complaint. This additional information is being shared only with you and should not be provided to the individual. This supplemental information is provided to shed more light on this individuals' actions and is not intended for the public to view. 

  The attached document is a letter that was sent from TradeStation's General Counsel to this individual on 2/28/24. He has made several threats to employees and has been made aware that he must cease and desist from continuing this behavior. He has continued to do so even after this letter was sent. 

  Thank you,

  TradeStation Compliance
  

  Business Response

  Date: 03/07/2024

  ****************, 

  The clarification request stated, "Below are some points that BBB needs clarification on before moving forward". I could not find any specific points aside from a bolded text that stated, 'Please provide a reply that we may forward to the consumer regarding the complaint.'. 

  Please let me know if there is anything else aside from that. Regarding that request, you may forward him the response we entered for the complaint. I have pasted it below as well. Thank you!

  "Dear Mr. **** ********, 
  
  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. As you are aware, there has been numerous phone conversations and email correspondences with you referencing this matter. The specific details about your orders and the circumstances regarding it, has been addressed. Consequently, the Firm denies your Complaint and has sent you a formal letter in reference to your correspondence since. 
  
  Regards, 
  
  TradeStation Compliance"

• Initial Complaint

  Date:02/20/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Today Feb 20, 2024 ** securities liquidated part of my portfolio on margin without any prior notice, at the wrong possible time causing a loss of $5,816 USD.the liquidation of #7 RTY contracts was done at 12:42 pm EST while the notification of margin call came in at 12:49 pm EST (after the fact). i was personally aware of the requiremt to get off marging by the mkt close 4pm EST, .not at all during the trading hours (that i still do not understand to this moment). i knew i was holding positions on margin, as i do almost each day and despite none can predict the future i was almost 100% sure to recover unrealized losses by the closing, as indeed did happened (had i held those positions to the close, i would have close flat instead of $6k losses). asked about this action TS responded i am required to have stop loss order in place when on margin. i did not have them; hovewer i mostly never had for many months including last week on Thursday when i had also 8 contracts on margin. i was never, ever subjected to liquidation as today, i want to point out i only twice (last week and today) held 8 contracts; all remaining time only 2 or 4 contracts. yet TS liquidated my account the day i had the highest # contracts. i can provide upon u request data showing past trading days with much larger paper losses than today, but no liquidation was done. i add also that the 8 contracts long today were the result of TS platform issue: i pointed out to them more than once already the platform often freezes when i enter orders so it did this am: i enter the day with two long contracts and tried to buy two more: it did not exectute my order so i tried again and again till all the sudden all the orders showed up and got filled ending with 8 contracts vs 4 i wanted. from a fair stand point, despite they will slap to my face the rules they require as top loss orders (but that they do not consistently apply) i want to make clear they should never be allowed to liquidate without prior notice and forbidding the customer other options he may have (prior to today i received notice first) and if they do it should be consistent not one off day. they should pay me the loss and prior losses prior days when the freezing caused me to have unwanted positions and losses... i can provide evidence: they did not fix platform issue despite i asked. i cant trade with TS anymore as these freezing will happen again and again. and who pays for the huge costs to take on a new platform now?

  Business Response

  Date: 02/23/2024

  Dear Mr. ******* ********,

  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. As of Wednesday- 2/21/2024, an email was sent to you to acknowledge and address the complaint. Please refer to that email and any subsequent responses to review any information regarding this matter and correspond with that team for any further assistance. 
  Thank you, 
  TradeStation Compliance

   

• Initial Complaint

  Date:01/30/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I transferred money into the Tradestation trading account, and now they are refusing to let me withdraw any money or transfer to another trading account. They are literally holding my money hostage for no reason.

  Business Response

  Date: 02/01/2024

  Dear Mr. ***** *********-*****,

  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. As of today- 2/1/2024, an email was sent to you to acknowledge and address the complaint. Please refer to that email and any subsequent responses to review any information regarding this matter and correspond with that team for any further assistance. 

  Thank you, 
  TradeStation Compliance

• Initial Complaint

  Date:01/05/2024

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been an active trader in the market. I have been using Tradestation for years. I began trading full time this year and was doing really well. But I began making regular withdrawals, and they began put a margin call on my account, that shouldn't have happened. I new for a fact I was within my margin requirements, as I sold at a loss in order to meet the requirements and not have a margin call. The next day, today, they put restrictions for sell only on my account. I sold so that I could use my money more wisely and get it cheaper today, and they locked me out, of an account with only 1% in any open positions and a wad of unused cash just waiting to be depolyed at the most perfect time. I haven't wanted to leave because of open positoins that I knew would yield a really great pay for the month. and this is the day it would have happened. I didn't care, it didn't matter, none of my hard work and research I put into it. I couldn't deploy ****** $ the moment I needed to, and after selling at a loss yesterday in order to meet the requirements. They not only screwed me out of the gains I would have had, but held onto a portion of my cash. I think maybe the equivalent of the margin call. I think they new I have excellent credit and can get $ when needed on the spot, is what I think. So I hit the button that sells everything, the one that says, I throw in the fng towel. then I immediately withdrew all my cash. I will be contacting my bank immediately Monday morning. It is a large sum of cash. I have been with them for years and they have no right. I met the requirements. So I will have to wait 90 more days to try to get the rest of my money, I will be reporting them again if they make it not possible.Very upset indeed. the amount I am listing below is the loss I took in order to meet margin requirements

  Business Response

  Date: 01/12/2024

  Dear Ms. ***** *****,

  A manager from the Trading ********************* attempted to reach you multiple times via phone call, but was unsuccessful and wasn't able to leave a voicemail as well. An email was sent to acknowledge and address your complaint filed with the Better Business Bureau and provided specific details about this matter. If you desire to discuss this matter further, please reach out via email or a phone call, and we will be happy to assist you. 

  Thank you, 

  Compliance

  TradeStation Securities, Inc. 

• Initial Complaint

  Date:12/27/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I opened a small *** account with this so called broker less than 2 years ago. They advertise zero fees. My account was $ 950, and they charged me hundreds of dollars in HIDDEN FEES over the last year. Robbery in broad daylight. How are they allowed to operate a brokerage business. I have never dealt with such a broker in my life, and I have been investing for over 40 years with other brokers. NEVER BEEN CHARGED ANY FEES by any other broker my whole life.

  Business Response

  Date: 01/04/2024

  Dear Mr. ******* *******,

  TradeStation has reviewed the complaint that was filed via the Better Business Bureau. As of 12/29/2023, an email was sent to you to acknowledge and address the complaint. Please refer to that email and any subsequent responses to review any information regarding this matter and correspond with that team for any further assistance. 

  Thank you, 

  TradeStation Compliance

• Initial Complaint

  Date:09/18/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been trading on Tradestation platform for the last few years and have lost over $100,000 from my 401K. I have noticed there are numerous flaws with their desktop platform that they have not been honest in providing answers on. They closed my account citing customer agreement and didn't provide any reason. They have also been inefficient in clearing delisted stocks post merger and I had to jump through hoops to get them to refund including complaining to FINRA and other governing bodies. As of today they still have a stock of HHR that they haven't settled I own 10 shares at $46.41 . They also hide behind the flaws in their desktop platform/software saying its self directed invested but they need to take accountability for a platform that doesn't perform as it should or provide the requisite support when requested to customers. Just creating something that usurps cents at a time using buy and sell trades along with trades that shouldn't be generated by an active strategy including orders of stocks that were never part of my strategy is a strategy this firm is using to steal from individual investors. I have never been able to get the platform to work in the way its intended to work and got no support from Tradestation at anytime.

  Business Response

  Date: 09/20/2023

  Dear **** ****,

  TradeStation has reviewed your complaint on the Better Business Bureau website. Per the correspondence that was sent to you regarding a review you previously left on the BBB website, the decision to no longer maintain a business relationship and the authority to do so, has already been addressed. The other matters that you have mentioned as part of this complaint, cannot be addressed through this method. As you were recently informed, all inquiries into these matters can be addressed by our *************************** The contact information for that department can be found here: ************************************************
  

  Sincerely,
  TradeStation Securities, Inc.

  Customer Answer

  Date: 09/20/2023

   
  Complaint: 20623163
  
  I am rejecting this response because:
  I havent heard back from their so called client services department and am not prepared to close this out till I get a satisfactory response on all outstanding issues outlined in my complaint
  Sincerely,
  
  *****************

  Business Response

  Date: 10/04/2023

  Dear **** ****, 
  
  TradeStation has reviewed your complaint on the BBB website and the follow-up inquiry as well. After reviewing your account record, we confirmed that a ****** Services Manager has spoken with you several times over the last week to confirm that your transfer requests have been completed. An email was also sent to address the various matters in your complaint.  Per those discussions and email, the complaint is considered addressed. Please reach out to that team with any additional information needed regarding this matter, and they will be happy to assist you further. 
  
  Thank you.
  
  Sincerely,
  
  TradeStation Securities, Inc.

  Customer Answer

  Date: 10/04/2023

   
  Complaint: 20623163
  
  I am rejecting this response because: Tradestation has repeatedly failed to respond to questions in a satisfactory manner and refused to provide the reporting that was requested. This case is now also open with FINRA and SEC. So I would recommend Tradestation to also share the contact details of their legal counsel or I can request one to be appointed by the court.
  Below is a list of open questions that I would like Tradestation to address here with BBB and not directly via email. That way there is a trail of the incomplete responses Tradestation continues to provide with a third party too.
  Sincerely,
  
  *****************

   

  recently said they are closing my account and wouldn't given me a reason and are citing they don't have to give a reason per their customer agreement. I have complained about a lot of issues with their services and some of which could be in violation and given I am not the expert like to confirm with someone who is familiar with SEC or FINRA or CFPB or other requirements. The issues are around
  a) non-timely resolution of stocks and tickers that were delisted due to acquisition or merger of companies - I had to complain to SEC to get them to act on it and they still have one stock that is pending resolution.
  b) their trading platform has the capbility for customers to trade based on automated strategies but I have noticed discrepancies in the trades with 
  some trades not working per the strategy conditions and for some trades stocks were being bought at high price and sold at a loss and had same timestamp thus resulting in erosion of equity cents at a time but resulting in a large loss over a 3 yrs period (they have no controls in place to reject such orders and are saying they don't have to do it as its a self directed platform -their customer service is also pathetic when it comes to answering questions). 
  I have also noticed losing trades on tickers that I have never configured in my automated strategies or submitted manually. 
  the most important flaw in their platform is there is no way for the customer to reconcile the automated strategy trades with actual trades. 
  the reporting on their platform can only provide these reports at EOD for the most recent day of trades. Now that they are closing my account I wanted to reconcile and analyze these issues further to understand total damages better but am unable to download a report which has all such automated strategy trades along with order ids etc for the last 3 years and their customer support has not been giving straight answers either.
  all of this has resulted in me losing over 100K during a period of 3yrs from my retirement accounts that I have been managing using this platform (from 2021)
  to me this looks like strategies the broker is employing to rob individual investors accounts cents at a time but across multiple accounts and individuals this is equivalent to robbing individual investors and hiding behing the veil of putting all the blame on the individual investor. This could be something that also needs a closer look by the SEC and other regulatory bodies so that millions of customers can be protected from getting ripped off and could also be a potential class action suit.
  c) now that they are closing my accounts I am trying to move my funds of approx 500K  out to another broker and they have rejected my wire transfers 5 times during the last week. Everytime citing frivolous reasons and requesting additional documentation that is not mentioned on their website or anywhere else. Despite getting the receiving broker on a 3 way conference to sort through any addl documentation they have again rejected a wire transfter instruction last Fri. I am losing the potential to earn interest or capital gains on a large amount of money due the inconvenience they have caused and continue to cause 
  Their cashiering request for wires doesnt  say a letter is required from receiving broker account is required. Also their wire request doesnt email details of cashiering submissions nor show details on the website and they claim that I made typos or frivolous errors when I know I havent 

• Initial Complaint

  Date:09/18/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  They denied to open an account for me even though i have had an good account with cme ********************, a competitor of tradestation.

  Business Response

  Date: 09/20/2023

  Dear Mr. ****** *****,

  TradeStation has reviewed your complaint on the Better Business Bureau website. We respectfully inform you that it is within the rights of the Firm to deny an account from being opened. Additionally, the Firm is not required to provide the reasoning for such decision. 

  Sincerely,
  TradeStation Securities, Inc.

• Initial Complaint

  Date:08/14/2023

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Approx $24,000 in losses due to the FuturePlus platform not accepting a common covered call option trade. I had covered call trades, and the market was moving downward. So, I called the trade desk to roll downward my covered calls. They were able to buy back the calls, but were unable to sell new covered calls because the system, for unknown reasons would not allow them to enter the order. I ended up selling my long position because they could not enter the new covered call trade causing me to take a hard loss of approx $24, 000. TradeStation says that are not liable because my sell order of my long positon had no issues. But, they feel they are not liable when the covered calls orders would not go through. It appears to be selective double standards. I have full documentation of the time line, names, dates, and calls of what transpired. I filed an initial complaint with TradeStation at the time the trader could not enter my order for "unknown reason", and the complaint was ignored by management. Approximately, two weeks later, I filed another complaint where I finally heard from management on the same day. For a company that advertises that they have high rated and robust systems appears to be deceptive when I can't even roll my covered call trades. I have had several calls regarding the lack of accuracy in the account data where the employees acknowledge and agree regarding the platform issues and have shared that management is fully aware of these issues but, have done nothing to resolve. TradeStation appears to have no issue saying what they can't do for their customers, and appear to not even care of losing customers due to the deceptive advertising of the innovative platforms that truly cannot even handle the basics. Account balances differ among their online account access vs their trading platforms, and you never know which is the accurate data.

  Business Response

  Date: 08/23/2023

  Dear ***** *******, 
  
  TradeStation has reviewed your complaint on the BBB website. After reviewing your account record, we confirmed that on August 21 and August 22, 2023 , you spoke to Management regarding the circumstances that led to your complaint. Per that discussion, the complaint is considered addressed. Please reach out to that team with any additional information needed regarding this matter, and they will be happy to assist you further. 
  
  Thank you.
  
  Sincerely,
  
  TradeStation Securities, Inc.

  Customer Answer

  Date: 08/25/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *************************

• Initial Complaint

  Date:08/02/2023

  Type:Product Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  We signed up for Tradestation and were told that we would receive a $5,000 bonus for our deposit amount. We have contacted Tradestation multiple times regarding the bonus and they do not respond to any of our inquiries regarding the bonus. We have also called them as well and spoke to them on chat and they keep forwarding us from one department to another. Our accounts are the following:11084120 and ********

  Business Response

  Date: 08/08/2023

  Dear **** *****, 
  
  TradeStation has reviewed your complaint on the BBB website. After reviewing your account record, we confirmed that on August 7, 2023, you spoke to a ****** ******** Manager regarding the circumstances that led to your complaint. Per that discussion, the complaint has been addressed and you were satisfied with the information that you were provided. Please reach out to that team with any additional information needed regarding this matter, and they will be happy to assist you further. 
  
  Thank you.
  
  Sincerely,
  
  TradeStation Securities, Inc.

  Customer Answer

  Date: 08/08/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

  I have also spoken with a representative that went over the different transactions and confirmed the payout and we are 100% satisfied with the response we received from the business.

  
  Sincerely,
  
  *******************

• Initial Complaint

  Date:07/17/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Ive got an issue with regard to an account transfer that I made with Tradestation, and I havent received my funds that I withdrew from my futures trading account. Its been about 6 business days and still havent seen my funds arrive in my checking account yet.

  Business Response

  Date: 07/24/2023

  Dear Mr.  ***** ****,
  TradeStation has reviewed the complaint filed with the Better Business Bureau. We see that a Manager from our ************************** attempted to reach you via phone and also emailed you as well regarding this matter.  Please reach out to that team and reference the case number that was provided in the email, and they will be happy to assist you further. 
  Thank you.
  
  Sincerely,
  TradeStation Securities, Inc.