Charles Schwab
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Dismissive towards Professional, Female Investors
I recently opened a Schwab trading account and wanted to add Level 3 options and margin trading to my account profile. Although I'm primarily a day trader, I also have a lot of experience hedging my options trades using spreads, straddles, condors, conversions, reversals, boxes, etc. I learned these strategies working on the CBOE trading floor for 5 years. I also set up the global hedge dept at Merrill lynch International Bank in London where I managed Billion-dollar options hedge portfolios for George Soros' Quantum Fund, and other major clients investing in Global Hedge Strategies using international options on international exchanges in multiple currencies. I’m already approved for the highest level of Options trading and Margin in my account at Morgan Stanley but I considered moving to Schwab for their ToS charting and Fibonacci tools. But… when I asked Schwab to approve an account for me with the same privileges — I was denied and told I didn't have enough experience and to apply again in 6 months!! No thanks, Charlie. You were rude and dismissive of my experience after I spent a half hour on the phone trying to understand why I was denied. So, I am sticking with MS and TastyTrade. You werre not friendly to my business, and I recommend all other professional, SHE-traders avoid you as well.