"Scottrade, we are all about value" ......... that's what they say!

But did you know you can be locked out of your account with Scottrade? Be locked out with no access to any trades to protect your assets entrusted to them and have this happen for 30 consecutive days? How about, no reason given for the lock out? It happened just after emailing them a complaint about a completed trade so this may have been the reason.

I am a 71 year old senior citizen, been trading stocks for about 40 years and with numerous brokerages. Never had anything like this ever happened to me in my lifetime. I entrusted my IRA account, my life savings, with the Scottrade brokerage. Boy was I wrong to do that! After you read all the backup data included on this site, you decide if you think what they did to me was fair, legal and don't mind it happening to you.

I filed a complaint with them about a trade that I thought was highly unprofessional however correct it may have been. I guess because of this complaint they elected to evict me from Scottrade ........ without warning, without notice, instant and final. Later sending me a US postal letter stating there rules indicate they can do that to anyone upon signing up to this control when first joining Scottrade. The only option I had open to me to recover from this repressive action was to transfer my IRA account to another brokerage. I sent Scottrade many, many emails, thereafter included J D Powers, followed by complaints to the FTC and SEC OIEA and others. No matter what I said or did had no positive results in getting my account reinstated. The only reaction I got from Scottrade was that they were upset at me for the "harsh" words I used in my emails and being loud and angry with there local branch manager when he said to me in no uncertain terms, "you will not be able to trade on Scottrade effective immediately and that my account was being closed". Because I followed his statements with loud and boisterous reactions he followed with "I acted like a 4 year old child" and as you can see from the supplied letter herein, that was there chief complaint against me. Are they for REAL or what? When you step on a person, any person, they most often YELL OUCH when stepped on and logically get loud and angry. I guess Scottrade expects us that were violated to just kiss them and say "thanks for hurting my account financially" and just go away peaceably with no reactions to there unspecified reason for the eviction. Is this what you would call professional behavior?

Let me restate this again. They FROZE my account for over a day, locked me out of my IRA account so I couldn't trade for 30 days and they get angry at me because I yelled at them for doing this! No reason given for the original implied offense, except they implied in the only letter I got from them that they can "DO THIS TO ANYONE FOR ANY REASON". Did you know that? Do you have any idea what can happen to your sensitive assets when trading privileges are suspended permanently especially at this time with a pending war? It ended in 30 days only because I transferred my account to another brokerage else it would still be locked out today. Would or could they eventually stop IRA distributions us senior citizens depend upon? Now ask yourself this, being a fair minded person. Assuming you believe me with all the backup supplied in this site. Is this your kind of brokerage and think they are fair and professional? They have three J D Powers awards that make them look great (it fooled me when I switched to them) ................ should they get a forth?

If this is what VALUE truly means, as they pump on every TV commercial those vaulted words, then I'm glad I left this brokerage. Who needs this kind of VALUE?

Please understand this ......

"They can do this to anyone for any reason" says Scottrade. "Everyone that signed up with Scottrade has agreed to these terms" (referencing Section 17 in there self serving rules).

I already filed a complaint with the FTC and the SEC OIEA. Would like to find someone who will help me recover some of my loses resulting from this unilateral and vindictive lock out action. But for now, I can at least warn others with the facts posted on this site as to what can happen when you deal with people and companies like this, that worry more about trophies than customer complaints.

I have also included some of the many discrepancies I have found with Scottrade, including backup (like the Real Time Streaming Quotes supplied with screen pictures taken to compare RJT vs. Scottrade brokerages and as verified with Barcharts.com). I'll try to prove with these screen shots the bases for my original complaint and justification for my assertions that they, Scottrade, was WRONG.

They like to say .... "Scottrade ............................ we are all about value"

I'd rather say .... "R J Thompson ............ it's all about professionalism"

You can find R J Thompson at www.rjt.com