July 13, 2015
A sale of my stock was reported to me Last Friday, however..not at price within the lowest PRICE of the day recorded. I had only limited the sale if it had crossed that price..So, I tried to email the Scottrade person I just set my account up with. I need this complaint in writing. BUT There is no EMAIL to the person I just transferred my money to...means there is no written detail of my complaint to be recorded--ONLY to the Customer Support Email. So, I write to Customer Support. All I can see is the sale went through on Friday and it sold for lower than the day's low.
Today, Monday, I have a call from the branch Manager of the office that I set my account up with. He told me perhaps it sold "after hours" of trading or actually maybe it's "central time." I ask for the break down of the day's numbers as it never crossed that in the low for the day. He says, "No, you can't see those numbers 'cause you are not signed up for Level 2 Quotes." So, I can't see the proof of what happened to my money because I don't pay for it? This can't be okay. How can I know it didn't' trade after hours and they just went back and re-time stamped it? But there is no paperwork for proof except for what he/they will provide me now as I am not happy about how this major trade went down. He then explains to me it traded on the day before..He cannot give me any paper proof of this-against the rules of SEC?
Basically they say my trade was entered at 2:32.37 and it traded 19 seconds later at 2:32:56 on the 9th.There is no proof of my entry-but he will see what he can get me.
I didn't even know the trade happened until the 10th and this all happened on the 9th?
This is an unfair and unjust process for there to be a 24 hour veil over the actions of my money. It is very odd. Anyone can generate paperwork after the fact.
There should be more regulations over mandated transparency for ETFs. I need to pay for the transparency? Maybe you they should say that to me when they take my money when I sign up. My money deserves transparency by me at all times. I'm watching it on my laptop or phone but I can only see what they reveal, when they reveal it.
There have been a lot of slippery stuff with these firms I have worked with in trying to grow my savings. This recent experience is pretty bad for a firm that I have had my money with less than 30 days.