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ALERT: Close All Accounts With Charles Schwab ASAP
By Stathis
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I don't deal with Schwab much because they have a terrible platform that is very user unfriendly. I have a few small accounts there that are relatively dormant. And I haven't bothered to transfer these accounts elsewhere, but today that willl change.

I want to warn those of you who have accounts with Charles Schwab to close your accounts immediately.  The situation involves errors in order entry for which Schwab refuses to acknowledge or correct. This has happened to me on three occassions and has resulted in losses for which they refuse to compensate me on despite the fact that the losses were relatively small. If this happened to me, it can (and may have) happened to others.  I have never encountered this problem with any other broker before. Therefore, I strongly advise you to close your accounts with Schwab immediately. 

You might recall this is the same online brokerage firm that made sure to deny my offers to speak (for free) to their clients at events in early 2008 to warn them of a market collapse. Instead, Schwab chose to pay huge sums of money to have hacks from CNBC speak.  As a result, Schwab clients were not informed as to the risks to the economy and stock market. This is likely to have caused them to sustain huge losses as you might imagine.

Instead of allow me to warn their clients, Schwab was holding trading seminars with introductory courses on technical analysis and other topics designed to give naive investors the impression that they can trade successfully in what would be the most disastrous market in decades. attended mostly by senior citizens. This is a company that cannot be trusted on any level. They will do anything to sucker you intothe stock market. make you think anyone can make money trading, and screw you out of trades.  

You might want to call them and ask them why they refused to let their clients hear warnings of the market collapse and instead tried to encourage novices to trade during the most dangerous market in decades.

I would imagine this has happened to numerous individuals. If a securities attorney wishes to investigate the possibility of a class action lawsuit, please contact me for details.   

 

 

 

 

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