I'm planning on moving all my CTSO shares out of TD Ameritrade margin account . They told me years ago that they don't lend out my shares in my margin account to others and now they said they do. So they are making interest multiple times on the same shares. My fees for the shares to buy them on margin and then charging more fees to loan them out again for shorting. What's even more insane is that Chan has supported them with video interviews in the past. Any suggestions on a more ethical online Broker platform please?
"Hello ******,
Thank you for contacting TD Ameritrade. My name is Matthew and I would be happy to help!
"Pursuant to the Margin Agreement provided when you originally applied for your margin account, when you hold a debit balance, or in other words borrow funds on margin, in a margin account TD Ameritrade may lend the shares to other clients or broker dealers. If you would like to avoid your shares being lent out, you can pay down your margin balance and hold the positions with 100% equity within the margin account. You can also do the same and also request to have margin removed from the account if you would like to ensure you don't accidentally go back onto margin in the future.
If you have any other questions, you may reply to this message or contact Client Services at 800-669-3900. We are available 24 hours a day, seven days a week. For faster service, please enter your account number when prompted, so that we can direct your call to a representative best suited to service your request.
Thank you and have a wonderful day!"
Client Services
TD Ameritrade
1-800-669-3900 "
