I opened a global account with Charles Schwab to trade in foreign markets last spring. I left the account unfunded and empty.
Then a couple months later in August I logged in and saw $120,000.00 GBP.
I accessed my account from Schwab's mobile application during my flight back from Hong Kong to the U.S.. It was not functioning properly and would not let me see the details of the account.. only the account value.
Has anyone else heard of Schwab moving assets in and out of dormant brokerage accounts?
These were "non-standard assets", penny stocks being traded on the london stock exchange.
The timing of it was suspicious too. They transferred them to my account four days before a new EU regulation would take effect requiring investors who hold non-standard assets, which btw, you need to have a minimum of 500 million Euros or Dollars to hold non-standard assets, to significantly increase their cash reserves to back the non-standard assets.
Schwab then transferred them out of my account without my permission a few days after the new EU regulation took place. Could be nothing but my lawyer thinks something suspicious is going on.. so do I.
Anyway, has anyone experienced or heard of Schwab or other companies doing something like this?
Submitted March 09, 2017 at 09:05AM by MoneyMadeMeDoIt http://ift.tt/2mpfsbh
