Saturday, September 20, 2008

Fidelity screwed its customers!

I have an IRA account with Fidelity.
On Friday their web site was down for at least an hour at the open. Their phone line was down also, Once the phone line started to work, hold time was more than an hour. Their web site was still locking up for about 2 hours after it was supposedly fixed.

I was unable to close long position in (YUG)/(XHB)/(UWM) I opened on Thursday afternoon.

When I finally spoke to a life person the answer I received was, in plain English: "Take it and shovel it up your arse - we cannot honor sell order you have not placed no matter is WE ( Fidelity) made it impossible to place such order"
To make things worse Fidelity representative stated on recorded line that "All brokers have technical problems today" - I wonder if TDAmeritrade's Joe Moglia and ThinkOrSwim Tom Sosnoff would be interested in their competitor statement. ( Both AMTD and TOS account have not had a single problem on Friday)

I have not made profit I expected to make on the trade I was unable to place due to complete and utterly failure of Fidelity to provide quality service - and Fidelity is hiding behind some convenient rule of "not creating individual prints for customers"

Any lawyers in the house?

P.S. Customer is always right? No wonder why United States are gradually disappearing in the "New 3rd world" bottomless pit.