Sharebuilder
Reviews and Complaints
www.sharebuilder.com
Anonymous
Atlanta, Georgia
Tax Return Review
Capital One bought Sharebuilder, now the ORS wants more money from my past years tax returns. Thanks jerks...
Reason of review:
Problems with payment
Anonymous
Sharebuilder Incorrect Transactions and Cost Basis Issues
When downloading Sharebuilder transactions into financial software, dividends are handled incorrectly. Sharebuilder sends a Reinvest transacation and a DIV transaction. The DIV transaction credits the cash account and the Reinvest transaction credits the cash account AND invests back into the share. There should only be one credit to the cash account. This applies also to Long and Short Term Capital Gains. To make things worse, Sharebuilder combines Capital Gains and Dividends in the Reinvest amount so you cannot simply delete the Cash credits. The only option is to change the Reinvest transactions to buy. I have also had issues with Cost Basis from Sharebuilder. All my other accounts (Charles Schwab and Fidelity) are consistent with my financial software but Sharebuilder shows values less than my financial software which means I will pay more tax than my liability when I withdraw the funds. I have inquired with Sharebuilder about this problem and await resolution.
Pros:
- Website tools
Cons:
- Innaccurate cost basis
- Accounting errors
- Customer service
Reason of review:
Bad quality
1 comment
Anonymous
Denver, Colorado
WRONG BID/ ASK PRICES..WRONG GAIN NUMBERS
LOOKS LIKE YOUR MAKING MONEY , IDIOTS WONT SHUT THE SITE DOWN! THOUGHT I HIT IT BIG BUT WAS INFORMED WRONG INFO WAS RECEIVED BY SHAREBUILDER, BUT THEY STILL USED IT!( RE: HUGE GAINS IN A STOCK I BOUGHT) HOW MANY ARE JUMPING OFF ROOF TOPS ! COMPLETE STUPIDITY! NO GOOD ANSWERS AS TO WHY THEY HAVEN'T SHUT SCAM DOWN! SHAREBUILDER SUCKS!!COMPLETELY IRRESPONSIBLE TO KEEP RUNNING A "BROKERAGE" WITH WRONG NUMBERS MAKING PEOPLE THINK WOW THAT WAS A GREAT INVESTMENT. CHECK BACK AGAIN 4 HOURS LATER SITE IS STILL GIVING FALSE NUMBERS, OH AND YEAH THERE WORKING ON IT.YEAH
2 comments
Abrahim Hpt
Sharebuilder - Shares Review
So today shares of GTAT dropped 90%+ after filing chapter 11. I bought in after the drop. The shares then went up .25 cents after a few mins and I was up $15,000. I went on my sharebuilder app and tried to sell and a thing popped up that said they did not recognize the ticker. Tried it on the webpage and still couldn't sell. Called them right away and they didn't know why I couldn't sell. Was going to do a phone trade but it dropped and I was now down 30,000$. Said they would lower the 19.99$ phone trade fee down to 9.99. How nice of them!!! Talked to them 5 more times and they didn't know why it wouldn't work and said later I could sell over the phone only. Then an hour later I was then able to buy and sell GTAT. The stock was halted at market open for a while, then I bought it, it wouldn't let me sell when I was up, then still wouldn't let me do anything and no one could tell me why. Now down 40,000$ just going to hang on and see what happens. Sharebuilder sucks. Going to td if I don't loose my life savings because of them.
1 comment
Anonymous
Puyallup, Washington
A Sharebuilder advertisement interupted a trade. I then had to log in all over again.
No respect whatsoever OR someone doesn't know what they are doing. I am paying $6.95 per trade. To hit me with ads IN THE MIDDLE OF A TRADE is UNCONSCIONABLE. Banks ! This complaint service needs to cut the 100 word minimum to 50. Excess verbiage is a waste of time which is what I am doing now inorder to meet the requirement imposed upon me. It seems that at the beginning of this sentence, I only had 67 words and now, I'm up to: 86. This is tedious, but that 100 word requirement is only three words away.
Reason of review:
IN A 2" SPACE ?
Preferred solution: Fix it.
Anonymous
New York, New York
Sharebuilder drops the ball for all investors
WOKE UP TODAY WITH 724,969,63 JUST KNOWING THAT ALL MY INVESTMENT HOPES AND DREAMS PAID OFF, I TRIED TO SELL AND NONE OF THE NUMBERS ADDED UP, SO I CALLED AND DID NOT GET A RESPONCE FOR THIRTY MINUTES AS TO WHY MY ACCOUNT WAS NOT SETTLING OUT FOR WHAT I THOUGHT WAS AN EARNING DUE TO HARD WORK, RESEARCH AND STAYING WHILE EVERYONE WERE SELLING. I WAS TOLD THAT THIS WAS SOME SORT OF ERROR AND THAT THEY WERE WORKING ON FIXING THIS SITUATION AND THAT THEY WORK WITH A THIRD PARTY COMPANY THAT ARE CURRENTLY LISTING THE WRONG NUMBERS THIS SITUATION BROKE MY HEART, BRINGING ALL MY COMPANIES IN THE RED AND TAKING WHAT I THOUGHT I EARNED, I WAS TRULY DISQUISTED BY THIS. TONIGHT AFTER A LONG HARD DAY OF WORKING SOAKING IN THE LOST OF MY WIN NOT, I COME HOME TO THE SAME BULL ***.. NEW NUMBERS ALL NIT MEANING A DAME THING. LOOKING FOR A NEW COMPANY RIGHT NOW....
Loss:
$739969
Reason of review:
Poor customer service
Preferred solution: Let the company propose a solution
4 comments
Jahkari Vgm
Erie, Pennsylvania
Stock Glitches to 580,228.35. Bullsh*t!!!! Siked me out :-(
My acct. said my balance sky rocketed to over half a million in one day. Once I sold everything, I did not receive my account value. I called and complained and they said it was a "glitch" on their behalf and the only thing they could do is reverse my sell orders and give me back the same stocks I had, smmfh. I was pissed and is now considering a law suit. Messed everything up for me. Plus it takes them 5 years, 4 months, 3 days, 2 hours and 1 minute to execute your order. They have a lot of room for improvement. People lives are at risk here!!!
Loss:
$580228
Pros:
- Simplicity of their website
Cons:
- Time to execute trade and sell
Reason of review:
Problems with payment
Preferred solution: Full refund
1 comment
Anonymous
Canal Winchester, Ohio
Misquoted stock, big disappointment
A few days ago I woke up seeing my stock increased dramatically. Thought my investment paid off. I sold it, was charged the fee. Proceeds were going to be $119,000, the next day the credit sent in my email was a lousy $3, I called and told them this is their fault for quoting the wrong price. I tried resolving with their reps, however, my fee for the trade was never credited back to my account either. I'm strongly considering a lawsuit, I have pictures too, this could be an easy win in COURT. I am extremely disappointed in the way this is handled.
Loss:
$119000
Reason of review:
misquoted stock and fee
5 comments
Anonymous
Sharebuilder Blows!
SB consistently knocks money off real-time trades. i.e. when you use a "market" order, they may knock off as much as 10 cents per share when you pull the trigger on a real-time price. In my case (small investor/trader), this can make the difference of hundreds of dollars which significantly cuts in to my profits. I've also known "limit" orders that DO NOT EXECUTE when the declared price point is met. They rob you coming and going on this site. I used to love this site and how they got me going into investing, etc. However, their execution for actual trading is really TERRIBLE! When I start to calculate the thousands of dollars I've lost in profits due to this site's shabby execution, it really hurts.
Loss:
$2000
Reason of review:
Not as described/ advertised
Anonymous
Atlanta, Georgia
It takes tooo long to get your money transferred back to your account with sharebuilder.
I've been having the same problem. I've been with Sharebuilder for more than 10 years, and it seems that each time they get purchased by another company, their service goes down. Years ago, before Capital One bought them, I could make a withdrawal request on Monday, and my money would be in my account by Tuesday, no later than Wednesday. Now when I make a request on Monday, I have to wait the entire week to get my money deposited into my account. If I really have an emergency, my only other option is doing a wire transfer. They will charge you $30 for each wire transfer. When I questioned the rep about it, they all tell me that it's always been that way; that's a lie. Until recently, I never, ever, had to do a wire transfer to get my money! I'm looking for a new brokerage to do my investing with now.
Reason of review:
Poor customer service
Preferred solution: Let the company propose a solution
Anonymous
Harpersville, Alabama
Sharebuilder - Review in Financial Services category from Harpersville, Alabama
Has anyone contacted a lawyer...if so whom do u have...If we stick together on this, numbers are power...
4 comments
Sarina Xak
Portland, Oregon
Sharebuilder is slower than whale potty!!!
After a sale of stock or other product, Share Builder account transfers of cash back to the account holder take forever after a settlement date!! Their electronic transfers are not any better. THey send those out at the COB at 1700 EDT instead of the opening of business on the settlement date. What if I were that slow on a trade!! They charge you $5.00 for a check!! $30 for a wire transfer! I have Been waiting over one week for a check that they charged me $5.00 to issue on my own funds!!! The customer service agents don't have any better abilities to expidite the process. Communists!
Reason of review:
Poor customer service
Preferred solution: Let the company propose a solution
Anonymous
Stratford, Connecticut
Sharebuilder - Account Access Review from Stratford, Connecticut
Sharebuilder has restricted my account claiming that I need to have my computers I use to access their website professionally cleaned. They claim there maybe malware. Need help if this is correct
Reason of review:
Poor customer service
1 comment
Anonymous
Kansas City, Missouri
CONFUSED INVESTOR BLAMES BROKER BUT IS WRONG.
Your TOTAL value does not change less the market goes up/down. If you had 1 share of Apple (AAPL) at a NAV (Value per share) of $700.00 each [$700.00 total], and Apple did a 7 for 1 split, [which Broker has no liability or control & are not responsible to notify you], (only Apple may need to inform shareholders), you would now have 7-shares at a value of $100.00 each ($700.00 total). This encourages investors to be more willing to buy AAPL stock. I suggest if you are this naรฏve about investing, keep your money in a CD or under your pillow.
Reason of review:
Good customer service
Denni Barrett
Temecula, California
Sharebuilder cost me my home
We made an offer in a highly competitive California market to buy a house. In order to complete the transaction, we needed to liquidate our stock held in our Sharebuilder account to use as part of our deposit by January 24th, 2014. We sold the stock and then transferred the money via electronic transfer on January 16th - PLENTY OF TIME. That same afternoon, we got a secure message from Sharebuilder that our transfer of funds OUT of our sharebuilder was suspended until we called in for further verification. I never had any problem putting money in from my bank account and it was the same bank account we were trying to transfer back to. I called Sharebuilder on January 17th, spoke with Phillip, who completed the verification and stated we should see the money by the 21st - still PLENTY OF TIME. On the 21st the money wasn't in the account, so we called Sharebuilder and we were told that the transaction was processed on the 21st and the money will be in our account in 1 to 3 days. On the 23th we used the chat feature, then called into Sharebuilder and were told the money would be in our account the morning of the 24th. That same day, January 23rd at 5:00 PM PST - I get an email stating that our transfer has been cancelled and that our account is restricted. I just got off of the phone with Angie at Sharebuilder who states that their back office stopped the transfer and I need to re-issue it tomorrow after Sharebuilder "releases" the restriction on my account. There is no way I can come up with the funds shortfall needed to complete the purchase deposit by tomorrow without my Sharebuilder held funds. The seller informs us that they will go to the backup offer tomorrow if we can't produce the funds by 2 PM. Maybe Sharebuilder has singled me out as a "difficult customer" to punish me or maybe they still need my funds in their bank account for some selfish accounting reason since the market is down - it sure seems like they are intentionally holding onto my money for some selfish means on their side. I wish there was some agency that could slap Sharebuilder with a fine for their misappropriation of my money. They've cost us our home.
Loss:
$4310
7 comments
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Yeah I just got a letter from the IRS over this. They want more taxes.
Thanks Sharebuilder! You Jerks...