Since Morning of January 27, TD Ameritrade users are facing several Problems, sometimes the TD Ameritrade App is not working and sometimes People are not able to trade with certain securities.
Now the App issue seems to have been solved, but the issue of TD Ameritrade Funds not available for Trading is still there, and as far as We can predict, it will be there as long as GameStop stocks don’t go down.
And the reason for the funds issue has been talked about by TD Ameritrade itself.
TD Ameritrade has just issued an Statement which is as follows:
In the interest of mitigating risk for our company and clients, we have put in place several restrictions on some transactions in $GME, $AMC and other securities. We made these decisions out of an abundance of caution amid unprecedented market conditions and other factors.
Statement from TD Ameritrade for Funds not available for Trading issue
So it is not actually a Bug, but something that is done from TD Ameritrade part.
Certain Finance experts are claiming that TD Ameritrade was losing lots of money when Users were earning lots of Money through certain securities such as GameStop and AMC, hence they have temporarily blocked trading from those securities.
Here are some reactions from Users about this Issue:
Where is the FTC oversight?! @TDAmeritrade @RobinhoodApp etc…are colluding to illegally manipulate the market and rob individual investors. Make this go viral!!! ACCOUNTABILITY ACROSS THE BOARD! #GME #NOK #AMC
— Dick Steele (@cashewredneck) January 27, 2021
Sold $AMC for a massive profit, but got out because of the criminal activity involved with @TDAmeritrade. I just started an account with them a few weeks ago and will be closing it. Restricting trading on certain tickers to prevent people from making money is an ethical disgrace
— Bruce Harper (@PH1LLy_Phan) January 27, 2021
@TDAmeritrade @RobinhoodApp y’all better open trades back up for gamestop and amc and stop protecting your rich friends. They’re dumb enough to short squeeze a stock. They did it to themselves
— Hxploit (@hxploitmusic) January 27, 2021
@TDAmeritrade MASS EXODUS COMING WE ARE LEAVING YOUR PLATFORM!!!! YOU JUST ROBBED ALL OF US!! $GME $AMC
— FUCK TD (@NikmanShotta) January 27, 2021
Looks like TD Ameritrade doesn’t want its Users to get rich eh.