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Generic Trade

United States

Consumer reviews about Generic Trade

Apr 3, 2012

charged me $1100 for one day of trading

Their practice account is completely different from the live one. They charged me $1100 for a one day of trading! What a scam!

Levin Young
Mar 12, 2013

Big scam: Profitable position was missing

I just opened a new account and started a few future tradings. To my big surprise, a filled position witha biggest profit was missiong after a fiew hours. It seemed to me that somebody in the firm was manupulating the position(s) in such a way he/she could steal your money by a back-filling. It is terrible. Anybody wants to open an account with Generic Trade. Think twice.

Nov 23, 2016

Atrocious (nothing like I've ever seen before)

Customer service is one of the most important things to look for in an online broker. Due to the low commission structure, Generic Trade's customer service really is atrocious (nothing like I've ever seen before). When asking a question about the wording of their policy, I was met with the response "you should note that we are a deep discount brokerage firm and do not offer any educational services". I was then charged $74 and denied intra-day margin (even though the intra-day margin requirement is $0), and told it was because I asked about the policy. This is just one of the many incidences over the past 2 week account opening process. TD Ameritrade's (Think or Swim) trading platform is top-notch and I have spoken with reps at Trade Station who have been nothing but a delight thus far.

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