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:07/11/2023

  Type:Customer Service 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.

  What is it about:In one of my equity accounts with Tradestation, there is an open position under "Gain/Loss". The symbol is VYNE it shows the following:Quantity: *******, Cost Basis: $14,587.63, Market Value: $188.06 (as of 7/11/2023)This position doesn't show ** in Tradestation "Platform" which is the desk top software that supposed to show all open position.Here is what I want:I want Tradestation to explain the following:(1) Is this a valid position. If it does, can I close this position and claim the value into my account ?(2) If this is not a valid position, why it is showing in the "Gain/Loss" but not in the Platform ?(3) Either case (1) or (2), I need at least an explanation and please resolve the inconsistency between "Gain/Loss" and "Platform"Why I'm filing the complaint I've called Tradestation probably 10 times or more about this and I've expressed my above request everytime. There has been a customer support case number ***********. But every time I called, I had been referred to different Tradestation departments back and forth in circulations.Can someone in Tradestation resolve above request please ?

  Business Response

  Date: 07/19/2023

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

  TradeStation has reviewed the complaint filed with the Better Business Bureau. We see that a Manager from our ************************** attempted to establish contact with you via a phone call but was unsuccessful. Subsequently, an email was sent which mentioned the basis for the problem and also an update that the issue has been rectified. 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: 07/20/2023

   
  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,
  
  Lieyong Fu

• Initial Complaint

  Date:05/05/2023

  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.

  On May 5th 2023, I logged into my trading account and notice that my balance was incorrectly showing $0.61. I believe the balance should had been around $80. Because of this glitch, I was not able to make any trades that morning and lost out on potential trades and profits. I contacted customer service and requested that a $200 credit to my account be applied or $200 worth of free trade be applied to my account. The person refused. I have spent $1000s of dollars over the years using this service and they couldn't even provide something in return of my inconvenience.

  Business Response

  Date: 05/10/2023

  Dear Mr.  ****,
  TradeStation has reviewed the review filed with the Better Business Bureau. We see that a Manager from our ************************** attempted to reach you multiple times 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.

  Customer Answer

  Date: 05/11/2023

   
  Complaint: 20022289
  
  I am rejecting this response because:

  From their email it is clear that they are not happy to help me. see attached email below:

   

  Hi *******,
  
  I am reaching out in regards to a complaint that was filed under CAS-********-P6Z6B0. Unfortunately, as a firm policy we do not credit for missed opportunities and no credit will be approved. I have reached out multiple times to the number on file in regards to discussing this with you.
  
  This e-mail is being sent to acknowledge that TradeStation sees your complaint as addressed.  If you desire to speak about it further please contact ** referencing the following case number: CAS-********-P6Z6B0.
  
  Best regards,
  
  *******
  Manager, Client Services, TradeStation Securities, Inc.
  Manager, Client Services, TradeStation Crypto, Inc.

   

  It is clear that they refuse once again to compensate for their denying me access to my funds.

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

  Business Response

  Date: 05/11/2023

  Dear ******************, 

  As mentioned in multiple emails that were sent to you, a ****** Services Manager reached out to you several times to discuss this matter. You were not available to discuss, but as stated in the email, "If you desire to speak about it further, please contact ** referencing the following case number: CAS-********-P6Z6B0."

  Thank you.
  
  Sincerely,
  TradeStation Securities, Inc.

   

   

• Initial Complaint

  Date:05/03/2023

  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.

  My account was closed ********** due to a deposit being returned by my bank. I informed Tradestation numerous of times that the funds were returned because in the mist of the transfer my bank account was closed by my bank. I had about $250,000 worth of shares of CLM. I spoked to customer service Trade desk department and *********************** on how I can retrieve my funds out of the account. I also tried to transfer my shares to Webull and the transfer repeatedly got rejected. Everyone said at first we do not see any funds/shares in your account. What! No way there should be shares/funds in the account. Now customer service is saying unfortunately in order to retrieve the funds you need to reopen that account so the funds can be sent back to the originating account ********** I have also let them know numerous of times that I can not reopen that account due to the bank closing the account not me. Everyone I spoke to didnt care about my situation or didnt at least see if there was another alternative to get my money out of that account. $250,000 is a lot of money for you all just not to care about. I was hoping to at least get a check sent to the address on file. Now my money will be sitting with Tradestation for the rest of my life.

  Business Response

  Date: 05/10/2023

  Dear **************, 

  You recently spoke to several reps within the Company, to discuss this matter. As mentioned, you would need to speak to our Verification team to discuss what the options are. When you had a conversation with one of the Verification team members, you were informed of the method that the funds can be sent. You then proceeded to laugh and disconnect the line. For any further assistance with this matter, you can reach out to our Verification team to discuss further.

  Thank you, 

  Compliance - TradeStation Securities, Inc. 

  Customer Answer

  Date: 05/11/2023

   
  Complaint: 20012484
  
  I am rejecting this response because:
  I have provided a bank statement regarding that the originating account is closed and still cannot get an alternate way to retrieve my funds/shares out of the account. I have once again tried to transfer my shares to Webull and was once again rejected.
  Sincerely,
  
  ***********************

  Business Response

  Date: 05/11/2023

  Dear **************, 

  No further action will be taken through this channel. As mentioned in the previous response and also an email that was sent to you, all correspondence regarding this matter should be held with our Verification team. 

  Thank you.
  
  Sincerely,
  TradeStation Securities, Inc.

  Customer Answer

  Date: 05/11/2023

   
  Complaint: 20012484
  
  I am rejecting this response because:
  
  Sincerely,
  
  ***********************

• Initial Complaint

  Date:04/10/2023

  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.

  I just learned that I have been charged $100 worth of inactivity fees! I did not know this was something that could happen. I work in financial services and when an account becomes inactive, we notify our customers so they won't be subjected to the account being closed. If the account is closed the money if refunded back to the customer because it is their money after all. I spoke with a very rude customer service rep from ********************** that laughed at me on the phone and told me nothing can be done. I can't afford to have $100 gone under conditions I had no idea about. I spoke with a representative from chat as well that brushed me off and when I asked for the 2 fees to be waived responded "No." I am highly disappointed with the unprofessionalism of the staff at TradeStation and I NEVER would have signed up and put my hard earned money into this company if I knew there were hidden fees attached. Please give me my money back.

  Business Response

  Date: 04/17/2023

  Dear ******************, 
  
  TradeStation has reviewed your complaint on the BBB website. After reviewing your account record, we confirmed that on April 10, 2023, you spoke to a ************** Manager regarding the circumstances that led to your complaint. Per that discussion, the inactivity fees have been approved to be refunded. These refunds will appear in your account within 5-7 business days. 
  
  Thank you.
  
  Sincerely,
  
  TradeStation Securities, Inc.

  Customer Answer

  Date: 04/18/2023

   
  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. Manager *** was amazing! He gave me a call the same day I made a complaint. He truly understood my concerns and stated he will coach the staff on their unprofessionalism. I did get my money back! I am satisfied. 
  
  Sincerely,
  
  Genesis *******

• Initial Complaint

  Date:01/28/2023

  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.

  I have not filed the complaint within the 1 year period because TradeStation was sending repeated **************** messages but ultimately never worked to address the complaint, and I realize it may just be "waiting out the clock."Relationship manager *********************** encouraged me repeatedly to move retirement fund money into a Tradestation account. ****** promised the following in an email and by phone: "So if you would open up and fund a brokerage account, the platform would exactly the same as our subscription set up, less the monthly fee." *********************** sent me an email confirming that my account was approved: "Your new TradeStation **************************** account has been approved. Your account number is ********."Once my account was funded, I NEVER received any account statements, nor did I agree to electronic correspondence. I assumed my funds were safe and was not yet ready to invest them, but when I finally went to log into my account for the first time, I noticed that MOST of my retirement funds were taken by TradeStation in the form of charges listed under "miscellaneous" in amounts varying from $165.19 to $171.15, exactly in contradiction to what was offered by ************************** total, Tradestation illegally withdrew $4757.28 from my retirement funds and *********************** refused to answer any of my emails. Upon complaint to customer service, they apologized but I discovered only credited $899.70 of the $4757.28 they improperly withdrew. I want the remaining $3857.58 returned to me.

  Business Response

  Date: 02/06/2023

  Please see the firms response attached. 

• Initial Complaint

  Date:12/20/2022

  Type:Billing 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.

  I wanted to sign up for a new TradeStation account to try them out. I attempted to set up an ACH transaction. Their setup service (I forget the name) *required* me to provide my bank login information, and I then selected my checking account, which had the $500 I was intending to transfer in. TradeStation credited me the $500 in the next day or so (without completing the transfer), and I proceeded to invest the money, like any other brokerage I've experienced before. After a week, no money transferred over, so I contacted customer support.I was told that I had entered in my account information incorrectly and that I was charged a "bounced check" fee of $25. Also, they refused to try setting up ACH again and would only accept a wire transfer and wouldn't reimburse any fees ($20 for me). Because I didn't want to deal with them anymore, I informed them that I was interested in close out my account. They responded that they may turn my account over to collections.My issues are: * I would like to be reimbursed the bounced check fee of $25. Why am I being charged a bounced check fee when I gave them everything necessary to set up my account? * Refusing to troubleshoot ACH transactions and only allowing wire transfers (while threatening to turn account to collections) is actively hostile. I would like reimbursement for my $20 wire transfer fee. * ******* me for investing money that they chose to front doesn't look great. I lost $10, but I was not going to abandon them for those losses.

  Business Response

  Date: 01/03/2023

  Please see the firms response below and let us know if anything additional is needed.

  ***************************

  TradeStation Compliance

  Customer Answer

  Date: 01/04/2023

   
  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:11/16/2022

  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.

  Their system performs inaccurate calculations with trade entries even on limit orders. The math won't add up and their excuse will be "we can't see what your balance was before your trade". So they keep no ledger of your cash flow by the way. That is straight from their help desk. So if you have $1735 in your cash balance. You make a limit order on **** at **** for 199 shares as I did that equals ******* After the limit order fills at **** the account went negative $3 to show margin was used.Where did the difference go? the account should have still been in the positive if they are indeed 0 commission.Calling the help desk gives the response that they cannot see your account balance at any point other than the current time which is very sketchy in that they do not have a ledger. To top it off their PDT system is terrible.Is it possible Tradestation is skimming off people's accounts and not telling them? Well according to their web app it appears so. Once my trade clears I'll be leaving them. I can't do business with shady companies. If I would have known they were this bad I would have taken a screen shot of every trade but that is highly inconvenient for trading.

  Business Response

  Date: 11/29/2022

  Please see the firms response attached.  

  Warm Regards,

  ***************************

  TradeStation Compliance

  Customer Answer

  Date: 12/01/2022

   
  Complaint: 18412192
  
  I am rejecting this response because:
  

  You do not understand my complaint. This is apparent in my call and in my statement on the BBB.

  I did not ask for a ledger of my deposit. I asked for your team to show proof that when I had bought my stock **** why then when it was filled I was put into margin when I had funds to clear the purchase. And don't give me c*** about funds clearing. I had a cash balance that was cleared for over a week that was used to make the purchase. The math is off on your system which is NOT OK. Otherwise show proof. What you sent was a pseudo transaction history with missing details. Oh and to enlighten you. That positive balance at the end you see is because I sold 1 stock of **** to bring it into the positive after your system screwed me on transaction. Your email proved nothing other than that you do not understand the detailed message I had sent previously.

   

  Is your companies method of customer resolution to just send over random ledgers in hopes that I would ignore it and move on? Not happening. Get your act together. 

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

  Business Response

  Date: 01/09/2023

  Please see the firms follow up email attached and let us know if anything additional is needed.