So, I have a TD Ameritrade account. It was a rollover from a Scottrade account. Anyone remember them. My account hasn’t been very active. I found that the commission were much better with Interactive Brokers for the way I trade. So I get the call…you know the one from the TD rep. Hello Sir, I noticed there has not been a lot of activity in your account lately, what can we do to help., blah…blah…blah.
Normally, I wouldn’t have given the guy the time of day. But it just so happened I had some dead time and he found it. He was a pleasant dude, so I didn’t mind giving my feedback which was that the commission schedule was to high and that my margin for options needed to be upgrade to be comparable to Interactive Brokers. He got my email and said let me get back to you.
I didn’t expect to hear back. But he did follow-up. He got me reduced option contract price (email if you want to know how much) and It was more than competitive with IB. So I did a couple of option trades and quickly ran out of margin. Puts you know, cash secured. So I wrote my rep back to see what he could do about the margin. He said I had to apply through the website, so I did and was denied just like the first time that I left. I’m a frequent trader in my main account. And they send me a form rejection letter. I don’t even know what to say.