Got screwed by Merrill Lynch Edge yesterday during the outage they had on 7.6.26 and it cost me thousands. Judging from the call the reps say many others affected who couldnt see holdings or trade activity. I was trying to purchase stocks but it gave me errors. Inputted a trade for SMR at 9.68 with a planned 10 cents stop loss just below LOD. Never saw the trade execute and it didnt show in holdings or activity. I was on the road so thought it might be my cell reception.
I was able to do 2 other trades that day without issue. I checked my holdings at market close and all positions were closed. I open it today and had 2000 shares of SMR. I immediately call Merrill and explain the shares werent there yesterday. I asked if I should close it out or if they will as we wait for a higher support specialist to get involved and I am told not to. Its still dropping at this point. I was down about 1400 at time of call. Specialist gets back on line after hold and tells me nothing they can do so I close the position out and its a 2k loss.
I speak to a manager and he gave me the run around too and I even brought up that their specialist told me to keep the position open while it was sorted out. I figure someone is going to be paying them or me so best to stop the bleeding. They are reviewing it but as of now they said its not on them even though it was their outage that caused the issue. Cant trade a stock or put a stop loss on something not showing in my holdings. Been with them 10 years but going to file a FINRA complaint and close my account if not resolved fairly.
When he told me he would check the call recording about the reps error telling me to keep position open I told him I am recording too. Was told the call would end if I didnt stop recording and I couldnt share it on social media. If they dont resolve it I will close my account and do whatever I want with the recording.
If a brokerage made an error that made you money but cost them money they would rescind it and should do the same when you have incurred a loss due to their error. It happened to me on a smaller scale in the past and I ate the loss. Going to find a new brokerage who actually owns their mistakes if that is possible.