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E-trade - Page 2

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1.0 out of 5, based on 8 ratings and
51 reviews & complaints.

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Heavy on Lawyers, Light on Customer Service.
Posted by on
Rating: 1/51
SAN FRANCISCO, CALIFORNIA -- Heavy on lawyers, light on customer service.

Good luck getting any money OUT of an eTrade account and to your heirs should you pass away. I was in a Domestic Partnership and it was easier to stop life support when he was terminal than it has been to get the stock options from eTrade. So far, I have had to get a notary signature, gold Medallion signature, fill out multiple forms, sit on hold only to talk to someone in a foreign country who I can barely understand, pay for and consult two attorneys and because they claim they never got his faxes to put his eTrade account in our trust, I now have to go to Probate. I am the Beneficiary on his Will, I am the Beneficiary on his Trust, I was his Durable Power of Attorney for Health Care Decisions and we signed an Affidavit with his company that we were in a Domestic Partnership (28 years). Good luck for those of you in Domestic Partnerships, you will be discriminated against and NOT treated equal to a married couple.

When Corporations create an account for an employee for stock options, it should be automatic that a Beneficiary form goes out to that employee, like with Life Insurance Accounts and 401 Accounts. Not the case with eTrade.

Cancer killed my soul mate and eTrade is another cancer in my life.
     
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trmn8r on 2013-04-27:
This sounds like a case where something was missed along the way, despite attempts to set things up properly.

If they didn't receive forms to place an account in a trust, that is a different matter than whether domestic partnerships are treated the same as marriages.

I'm sorry for your loss, but this matter should be able to be resolved ultimately. Comparing your partner's illness to the issue you now face seems a bit extreme.
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Lost access to my account.
Posted by on
Rating: 1/51
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.
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.
     
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Vinnie11 on 2012-12-06:
Something is fishy there. My e-Trade account was locked before because I had trouble remembering the password but I do not recall jumping through any hoops to have it corrected. I hope you get it resolved soon.
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Why do I bother wasting my time and money
Posted by on
Rating: 1/51
BRISBANE -- Oh my God if their systems could be anymore outdated, irresponsible and down right stupid ... here we go their portfolio section which you trade from to see your holdings does not communicated with your account balance all the time so you may have holdings you don't know about. So this is the second time where shares that have been full sold down then reappear on my account balance. I am then told that I haven't sold them all and that this is my fault, I should have contacted them. WTF is my statement as you are trying to use what is meant to be a trading platform where you are charged an arm and a leg to trade and they can't get it right but your wrong. I hate the way they take forever and I mean forever to settle. I wish they could fix the errors or admit that they have an issue and make amends not charge me like I have millions of dollars.
     
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E-trade Relies on "Babies" for Customers
Posted by on
Rating: 1/51
E-trade's talking baby ads are no joke. The company tries to appeal to young techy business types who don't know much about investing.

I very glad they only had a portion of our portfolio. Markets and investments go up and down, but you can be certain that your ups will not be as high with E-trade, and your downs will go much lower. They eat you alive with hidden costs and fees. During a downturn, they would not let me sell or close and account. They needed the last thousands for sell-offs and fees. Then, they started charging me every month. My 15 grand in stocks investments went negative with these guys. Customer service was apologetic and ineffective.

Stick with Fidelity, Schwab, Well Fargo and any number of other reputable financial service companies that treat customers as adults and talking babies. E-trade is a sure-thing bad move.
     
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BigAl on 2012-03-19:
I am sorry to hear of your bad experience with E-trade. I have had very good experiences with them. I have not been hit with any unexpected fees. I have never had a hard time buying or selling with them. However, if you have no idea what you are doing I would suggest a reputable broker to do this for you. Good luck finding one.
BiggerAl on 2012-03-22:
I have a reputable broker, and have done well with other financial service companies. I knew what I was doing--but it took awhile to figure out what E-trade was doing to us! No one said brokers were dishonest. The company model is set up to lure "babies" and take their candy. Bad news.
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Left Hand Doesn't Know What the Right Hand Is Doing
Posted by on
Rating: 1/51
SANTA CLARA, CALIFORNIA -- I want to transfer my ETrade i401K account to my Vanguard traditional IRA account. ETrade's left hand doesn't know what the right hand is doing.

They misinformed me that the securities can transfer in kind to Vanguard. After back and forth with ETrade and Vanguard over several days, I find out ETrade requires liquidation of my securities (why didn't they tell me initially?). After a couple more phone calls, I find out they require that I manually sell them. Robo calls from them are vague. I return their call and I have to repeat what I've already in detail told a previous representative in a previous call. Time burner.

2/13/12 I was told their computers would automatically know the securities are sold and proceed with transferring the money.

I sold the securities 2/14/12. 2/15/12 I was told that the request must be re-submitted. 2/16/12 I was told that funds must be sent by a check to me or wired to Vanguard. for a $25 fee. I approved the wire and the wire fee. I was told the funds would wire 2/17/12.

2/17/12 I receive a robo call from ETrade. I call and I have to repeat ALL I said on 2/16/12. I am told that the funds will wire 2/21/12. I hope it happens, I am so done with ETrade.
     
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tnchuck100 on 2012-02-18:
As with most multi-department corporations the only path that is greased for efficient transactions is the one where money transfers from you to them. All other paths are fraught with hurdles to retain control of your money for as long as possible.
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Close you account while you can
Posted by on
I had several accounts with E*Trade. Nothing was on margin and no checks every bounced. They closed out all my accounts on me. Customer service said you will get something in mail explaining why. Well later came and it was basically we reserve the right to close out you account at any time for any reason. 2 weeks later I'm still chasing my money from them and the customer service has no clue. FDIC will not do anything because they say it is a OCC issue. OCC will not get back to me. So now I'm waiting till they decide it is a right time for me to have my money back. I will just make sure I let everyone I know about the problems I have had with them. Maybe they will not join or will switch their accounts elsewhere. This is a poorly run business.
     
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Alain on 2011-08-08:
There are similar complaints about ETrade here and on other sites. You can try going to http://www.sec.gov/complaint/select.shtml and see if the information there is helpful to you.
123 on 2012-09-12:
eTrade has advised that something is wrong with my 1099, and therefore they are going to classify my 501(c)4 as a S Corporation. They further allege they are going to take out unauthorized withholding from my S-Chapter corporation. eTrade should be shut down for dishonesty and theft. My advice is take your money out of there and run as far a way as possible. I am growing increasingly distrustful of the US as a place to keep your money and it is getting worse. We have absolutely no regulatory protection whatsoever. The FCC, SIPCA, and FINRA are only there to protect the companies they regulate. They couldn't care less about the public.
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Lies And More Lies. Be Advised Not To Use Etrade For Stocks
Posted by on
WOMELSDORF, PENNSYLVANIA -- ETrade is the GoDaddy of stock trading. All marketing with a crappy service. The customer support is a nightmare. The website is full of half truths and misleading verbiage.

First, I deposited my funds with "Quick Transfer" (more on this below) and called to confirm my free trades. They told me that because I previously had a savings account with their bank that I was considered an existing customer and did not qualify for any free trades or promotions. They suggested I read their web site as if it actually contained this information. I was so mad. The web site says nothing to this effect. If I would have selected the option not to link by trading account to my bank account I would have qualified for the promo.

Next, they proceeded to tell me that because I was a new customer they would hold my funds for 10 days (they just said I was not a new customer). So while my money sat in limbo for 10 days my stock shot up and I lost out on one of the best opportunities I ever had. To this day their web site says nothing about this type of hold. I read all the transfer information they have. You would think they would share this critical info.

I want to cancel my account now, but I am reading they are going to charge me to get my money back.

This is the worst company on the planet. They should get taken down for false advertising.
     
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Soaring Consumer on 2009-04-06:
This is very absurd - giving you the restrictions of an existing customer and not giving you the promotion, yet giving you the restrictions of a new customer by not allowing you to use the service for 10 days. And furthermore these restrictions are not on their website.

This is very deceptive and screwed up. I suggest that you contact your state's Office of the Attorney General's Consumer Protection Division, as either one or the other can apply, and not both, if they even were supposed to actually exist.
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If You Value Your Sanity Do Not Use Etrade - For Anything!
Posted by on
NEW YORK, NEW YORK -- We had a Line of Credit that was sold to ETrade Bank. They are absolutely the WORST company I have ever dealt within my life. Trying to get the loan paid off is a nightmare. After a recent home refinance, our title company sent a payoff with the request that the loan be paid off, closed and title release forwarded. If there were any problems, such as an incorrect amount required for closing, please call the title company immediately. After two months we discovered that there was still a small balance remaining on the account. After spending nearly an hour on the phone and speaking to two individuals trying to find out why we were not supplied with corrected information for closing, we were told that their service department is NOT ALLOWED to call customers when there is a problem. All they can do is cash checks. They will not contact you even if you request it in writing. When you call them no one has the authority to do anything. You can only write or fax them, they have no contact numbers for individuals. They also claimed not to have received any paperwork with the check, then after further research found an eTrade form, but denied finding the title company's transmittal request. I for one do not believe that a title company would send a check, the financial company's payoff form and neglect to send their own transmittal form, signed by us, requesting release of the lien (I have a copy of the form).

I used to work for a bank that actually helped customers, so I could not believe this horrible attitude. Our bank would have been on the phone within 5 minutes to clear up any problems. Thankfully, we were not in a situation where we were trying to sell the house and had to wait for a lien release.

This is a situation where we were trying to GIVE them money. Their poor customer service has cost additional time and fees on our part to get this matter settled. Can you imagine the horror if you were trying to get your money out of them. If you value your sanity, read the other reviews of eTrade and go elsewhere. There are other financial institutions/brokerages who still value your business, that are cheaper, and have helpful customer service departments.

     
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Worst Customer Service
Posted by on
CALIFORNIA -- Please, Do not open up with E*Trade Financial. You will lose all your money like I did and you’ll will be charge for a lot of stupid reasons and every time you have to call them to give your money back. Since you put your money in E*Trade account It’s impossible to remove it again, They kept my money in account and my checks returned and I paid a $75 check returned fee to E*Trade and my bank. I made a very important Wire out transfer to my another banking account because I had a mortgage to pay but it returned to my E*Treaded account again because the customer service mixed up.

They advertised 100 Free Trade but that is not trough. They charge you $13 for each trading and you have to pay and if you buy over 2000 shares you have to pay 1.5 Cents extra and you have to do all your 100 free trading within a month and then they may credit it back to you almost 2 mints after opening your account witch I’m not sourer, So far I haven’t received it yet. But not the money you pay 1.5 cents for over 2000 share. You have to pay that once for buying and gain for selling that stock and it will be 3 cents.

E*Trade has a very bad Finical situation and you can check with stock market. Don’t put yourself in a big chance of losing your everything with E*Trade with merging account. I had a margin account with them and since stock hit the lower price in last two weeks, they forced me to sell my stock or they will sell it without my permission. They don’t tell you they have a charge and it calls malignancy fee witch is $40 every 3 months. Anyway, I’ve been told to not open account with E*Trade but I didn’t lessen and now I’m a loser.

If they did transfer my wire money correctly at the first time now I wasn’t a loser and I wouldn’t buy stock again and they wouldn’t forced me to see it or they will sell my stock to any price. I transfer money last Friday 11/28/08 but today 12/02/08 my money is not into my another account and when I called them they said it will take by next 2 more day.


     
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tnchuck100 on 2008-12-02:
If your review is any indication of your communication skills with E*Trade I can see why you are having difficulty.
TGT101 on 2008-12-03:
If all you needed for a credit for your 100 trades was 2 mints you should have just given them to them.
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Be Careful
Posted by on
Back Office personnel and Software designers of ONLINE Discount Brokers are inexperienced. Their lack of experience and knowledge in financial sector can be detrimental to your portfolio. Please be careful of discount brokers. Real time quotations may be inflated or deflated by few pennies. Your order may be forwarded to an exchange who may be paying the brokers commission on forwarding orders.

Broker may have high mark up on interest on margin. There may be hidden fees. Etc. Its better to protect your wealth rather than be a victim.
     
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trmn8r on 2011-02-02:
I don't find this informative. It appears to be about E-Trade, but it contains many generalizations and accusations listed without ssupporting evidence.

I have used TD Ameritrade for several years and I am very pleased with the knowledge of the CSR's I have dealt with, as well as the website.
Anonymous on 2011-02-03:
You seem to post a lot of attacts on Etrade. I use them and have had zero issues. As a casual trader they are great. No broker to deal with trying to sell you this or that. No broker churnning sales to bolster their commissions. No broker giving you bad information.
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