Restricted / Frozen Accounts
ROSEVILLE, CALIFORNIA -- I opened an Etrade account and everything was fine until I requested funds from another account I own outside of Etrade. The funds ended up not being authorized and ever since my account has been restricted ... read full review5 Replies - Latest reply on 09/24/2008
Recently in order to meet margin requirement with Etrade, we sold one security from our portfolio. After selling one security, we tried to sell another security from our portfolio to create cash in the account. But Etrade system did not allow and every time message was " We cannot accept the order because there are insufficient funds in your account".
We were selling our stocks. When we call them by telephone, we were told Etrade is working to correct the system. However they can enter the trade manually. I do not understand if its ONLINE system, why do we have to go thru a middle man.
All orders are reviewed by their back office serving wealthy clients. This could be to fill orders in house to make additional money. All the time there was a difference between the real time quote and orders filled.
This practice is going on at least from the last two and a half years and have the same explanation that E Trade is working to solve the system problem.
Did any one else encounter the same problem?
For no apparent reasons my account at E-trade was locked. I called the company and despite the fact I provided the E-trade representatives with my SS number, date of birth and current address they did not unlock my account. Not to mention I spent couple of hours on the phone answering ridicules questions. I will be withdrawing my money from Etrade ASAP.
1 Replies - Latest reply on 12/06/2012Add reply
After reading reviews on the Internet I realized a lot of people are having the same problem. This may be an indication Etrade is having a financial difficulties so it has to froze accounts to stay afloat. I think Etrade soon will be going out of business. My advise - stay away from Etrade.
Etrade Is Misleading
E trade makes it sound like it is easy to sign up and start trading. I signed up I used their Quick Transfer function to fund my account so I could be quickly trading and take advantage fo the market ... read full review3 Replies - Latest reply on 10/29/2008
After the death of a family member, we have been waiting over 5 months to get the distribution from her accounts to her heirs. E-trade keeps making excuses, apologizing, but doing nothing. They promise to take care of it promptly but months continue to go by. They refuse to provide names and phone numbers of superiors or reasons for the delays. It is either incompetence or fraud. They are quick to take your money when you are investing, but it is impossible to get money out of their accounts when you request it. A poor company, poorly managed, and no quality control over what they do. 1 Replies - Latest reply on 10/18/2006Add reply
OK I thought I'd vent my frustration here because it seems it's the only thing you can do when dealing with Customer No-Help Service.
I opened an E-Trade A/C a couple of weeks ago and was firstly impressed by the website set up. It took a while for my initial deposit to go through but gave it the benefit since it was a new account and not linked.
A week later I transferred a large sum using the Quick Transfer system on E-Trade set up to my linked account. No problem got an email and notification the next day my funds were transferred and accruing interest. The funds were also deducted from my linked account. The market was majorly moving so I was ready to trade on some researched stock I'd been waiting for the right time. But alas! Although my funds were in my E-Trade account, accruing interest, and cleared from my linked account...THE FUNDS WERE NOT AVAILABLE TO TRADE!!! What the f#*k... Customer No-Help Service assured me the funds were there accruing interest but would not be available to trade for 5 days!!! In a moving market it was quiet frustrating to see my chosen stock rise dramatically and not be able to trade! Thanks E-Trade for holding MY MONEY in nowhere land.
Note to E-Traders, make sure you set up a link from your external account and transfer from there. It apparently will be available on same day of posting in E-Trade...NOT 5 F&%KING DAYS LATER!!!
I tried to open an account with E-Trade to get their 5.05% interest rate. Their website would not allow me to use my P.O. Box in my address where our mail comes. I had to call twice to get this entered in my profile so that I could receive information they wanted to send. When nothing happened after 2 days, I accessed the account but it would not allow me to use their online message center. When I called their telephone system , it was a joke. The automated system repeated the numbers I gave them but could not 'understand' my response. Then it started giving squirrelly responses. I had to call three different times to finally get through the system.
1 Replies - Latest reply on 01/16/2008Add reply
When I eventually spoke to someone in 'customer service', they wanted me to fax my drivers license 'twice' and another statement to verify my physical address. I told them my drivers license had the same information I had given them - in fact, they had said it was the information on my driver's license that caused the concern to begin with so they already knew what was on my driver's license!
I have opened any number of accounts including bank accounts online. This was the most laughable, frustrating, and useless experience I've ever had.
Wrongful Account Balances
I have a Brokerage Account with E-Trade and every time I have to call and ask for a balance update. Why.
Ex: I will get my jobs direct deposit. Lets say &700.00 I will withdraw 100.00 from the ATM. ... read full review2 Replies - Latest reply on 06/10/2010
If you are a small investor or just starting out, beware of the quarterly $40 fee that ETrade will charge you for not having any activity on your account (you pay them for letting your money sit in their coffers!) When I learned of this fee, I spoke to a representative who said that all I had to do to avoid getting charged was to make a trade once per quarter. Fair enough. So I made a trade on 6/23/09. When my statement came in, I saw that there was that $40 charge for the 2nd quarter. So I called to inquire, and guess what... the cutoff date was 6/22. So the trade didn't count towards eliminating the fee, AND I paid the $12.99 trading fee as well. The representative was quite condescending when I complained, and wouldn't put me through to her supervisor. Shame on them for taking advantage of their customers with hidden, small print fee policies!Add reply
NEW YORK, NEW YORK -- I just deposited a 5$,000 into my e-trade account, on the night of Nov 17. While on the website it said that it would take 4 days to deposit the money into my account where it can be invested. When two days later I went to check up on it, my account said that the $5,000 won't be ready till Nov 29 to be traded.
So my advice if you deposit money in your account and want to trade with it any less than 2 weeks. Buyer beware.