E*TRADEReviews 295

I bought 2000 shares of ICCT at.14. I saw it jump on august 28th and sold for $1.82 thinking I did great.

Next day E*trade took thousands out of my account at $2.94 a share to cover a "short" saying there was a reverse split and I did not have 2000 shares to sell. Then why did they not update my account with the correct number of shares? And they waiting a full day while the stock climbed before buying on my account without my permission!

When I called they said it was the "firm's decision" not to fix the problem they created!

I have filed a complaint with the SEC.
E*trade made the purchases attached in pic without my permission!

We have been using this bank for more than 10 years and have overall good opinion on it. This was our first bank that did not require personal contact to open an account and had pretty comprehensive online capabilities. However, recently we had to do transfers for a few accounts and found out that every single step has to be supported by us calling customer service. You submitted all docs and they rejected the request, call to find out why. Oh, you had to submit a copy of DL. Uploaded? Call again and they will verify it over the phone, but please call in two days to make sure everything was ok. Rejected again?, Call to find out why. Because the statement is old. Uploaded? Call again. DL was scanned, but it is supposed to be a cellphone image, not scanned image. Uploaded? Call again. We just did and were told everything looks good, but again, call in two days to give them time to review and make sure everything is good. Come on, people, it is 21st century out there, keep automating your processes and don't get stuck in old technologies! In addition, some accounts do not have option to contact customer service by secure email, but some do.

Used E-trade for many years before shady practices got me to switch to better financial service companies out there. There was a time they closed out a stock position on their own because the account value had dipped below some threshold. It was done without warning and I only found out about it when logging in one day. Once I switched to better online financial companies, I got to see how much better service one could actually receive and to this day I've never had a repeat of the shady practices employed by Etrade. If you're looking for a good online platform for buying and selling stocks, mutual funds, etc. Look elsewhere.

I've been investing for almost 40 years now and have dealt with many of the different online platforms for trading. Some were by choice, others were chosen because of the 401K from the business I was working for. Etrade by far was the worst of the bunch.

I sent them a fax to open an account. Still no reply after 9 days. I call them to hear what happened. They said that it can't be opened. It would have been nice to receive an email... Only positive thing: there is a human being picking up the phone and being able to answer questions.

I have been a long term customer of Etrade. However, of late, there have been so many issues. I have recommended numerous clients of mine to Etrade. However, I am forced to take mine and my client's business elsewhere.

They are not the same. They are arrogant and high handed. Time to find an alternative.

I have been a banking customer at e*trade for decades and recently had a situation where my account had to be temporarily put on hold for potential fraud - as it should be. But then it took multiple phone calls and several days of waiting to get a new account number during which I could not use the account - which is unacceptable

I've been an etrade customer for over ten years and given then countless trading fees but suddenly the margine department has decided the short side of every option spread within 2% is a risk and they will close them all and charge you $25 for each one. Customer service really doesn't care they are well aware of the ridiculousness of the situation but come right out and tell you they have no control and can't help you. Now that it's going to Morgan Stanley they just don't care, try and trade option spreads with them and they will close them before they make money and charge you on top of it.

I am forced to use etrade due to corporate stock purchase. To transfer my money out, I had to confirm two deposits. Then I had to send a copy of my bank statement. Then I had to send jpegs of the deposits. And every time I call, I have to wait 20 minutes on hold before they can transfer me to someone who can actually address the issue. I would never let these people handle my money again.

They allowed hundreds of thousands of dollars to be hacked from my account as well as my parents. The hacker was able to attach his account to my own without my knowledge or consent as if he were a family member. He then stole my funds and put them into his own account instantaneously and continued to take funds for several days. I discovered the fraud transfers, reported the issues and told them about it and they said that they would remove the fraudulent account and block their ability to make any more fraudulent accounts. 8 days later, with the same fraudulent account that should have been blocked, he hacked into my parents account and attempted to steal more money. He then took the funds from any accounts that were linked and took their information as well. Their response has not only been rude, but entirely malicious to the point that we will be removing the remaining funds. I have many different existing banks where the hacker tried to get in and they were immediately blocked. Your money is absolutely not secure with Etrade or Morgan Stanley if they remain as indifferent about their jobs to secure your banking data as they were with mine.

For the past month we have been called by both legitimate and fraudulent banks, opening credit cards, accounts and paypal purchases in our names. It is difficult, if not impossible to fight everything because every morning there is something new.

Great platform for trading. Very straightforward and not at all scammy like a lot of trading sites can be. Test test test

ETrade is a horrible site for trading, if your an investor you can use it ok. However, for actually trading stock options the website and etrade pro java client are full of buggy issues. Their customer service for pension 401k is awful, I have a 401k plan where I am the administrator and the borrower. I have call them five plus times a year to get things correctly entered into their system.
In addition they can't seem to explain how their margin accounts work for some accounts and have all kinds of major issues. I would suggest using another broker!

Used Etrade for over 15 years. Tax return goes direct to Etrade for more than 5 years. This year they randomly froze my account afterwards, no explanation, no help, say they will "research it".
My identify is confirmed, basically they are unlawfully withholding my funds. Getting all my money out immediately, as soon as I get access to it!

My mother had $20 remaining in her account for many, many years. They never bothered to refund her money. How many millions of people do they screw in this way and how many millions or billions do the fat cats at the top of the food chain make from this unconscionable behavior. So far I am on my fourth call to try and retrieve this money. First they have to close up her account but they can't do it that day. Then they can close it up the next call but it will take a couple days to open it up. I call to open it up but that will take a couple days to get the money out. I call a couple days later they say it is not open yet. On this latest call I am on the phone so far for 38 minutes and counting waiting to speak to a supervisor….addendum….call answered and supervisor states I must call back again in a couple of days.
Do not deal with this horrific company. They are really slimy beyond belief. I don't give a damn about the $20 but will not let them win. They are counting on people giving up. The majority will give up and they win. A minority will fight it and then give up. They win. A small percentage will fight it and not give up. It's a good money maker but incredibly slimy.

Account was locked/restricted for no apparent reason. Was asked to send in photo of Drivers license, bank statement, W2, Social Security card, passport. Only thing I didn't have was social security card. After several multiple phone calls and several hours of back and forth my account is still locked. Was told I have to request and send in a new social security card before I can have access to my money. This was ridiculous. None of was needed to sign up or start initial deposit. (At first I actually felt positive about etrade and enjoyed the interface, didnt last long)Customer service was no help and gave bad information several times. If the money was needed for rent or food I'd just be screwed. After I finally get this straight I will transfer EVERYTHING out of E-trade and not look back. Worst experience with a financial institution. Do yourself a favor and choose ANYBODY but them. 0 Stars

I was informed automatic dividend deposits from my retirement account MUST include all stocks in the account. Dividend reinvestment of select stocks in the same account is NOT an option. Furthermore, I've spoken with 5 different people over the last 3 weeks to confirm dividends would be automatically deposited into my checking account. After receiving 3 different responses in 3 weeks, today I was informed no deposit would take place for another month; now the 4th different answer to the same inquiry. When I asked why this would be delayed another month, I was informed no answer could be provided and they would call me back by the end of the day with an answer. Of course, this did NOT happen as promised.

I have an account value of 1.6 million with them. I have beeen with Etrade for over 13 years. I have never needed their employee services as I simply used the platform for personal trading. Last week I made a stock purchase that resulted in a $5,000 margin call. Their margin employee called and asked how I'd planned to cover the call. He said I can sell off some stock or I can transfer $5000. I told him I'd transfer the funds that day. I did. The next day I get a trade confirmation that he sold $4900 worth of stocks that resulted in a $645 loss. I tried to call them and was told I cannot speak to anyone in the margins dept and cannot be given a phone number to discuss. I will be moving every penny out of Etrade and to a different platform that knows how to treat their customers.

LAST 2 WEEKS I HAVE EXPERIENCED ETRADE DRAINING MY CHECKING ACCOUNT FROM $3,000.00 TO ZERO. CREDIT CARD PAYMENTS WENT INTO DEFAULT
NO RETURN CALLS. THE LATEST AFTER THEY FOUND MR $3,000.00, IT WENT TO $15,500. OBVIOUSLY I AM LOOKING FOR A NEW BROKERAGE FIRM

Trying to set up an account with ETrade today. They wanted copy of drivers license. Didn't like that Texas has black and white photo and agent suggested that I CHANGE a government issued document by adding pixels and color to it, just in order to open the account! Sorry, nope, not committing fraud for you guys. Fix your software!

I have several accts with other brokerages and wanted to see if E-Trade had a decent tool for Mutual Funds and ETFs and found a very poor;y thought out tool...no simple way to view 1/3/5/10/life returns, in fact even when using the drop-down to view a 3 year the results did not give me any info...I am usually a fairly tech-savvy person, so if I missed something, it wasn't easily found and for me, it means time to move on. Now I am looking to reverse my transfer of money to the new acct and my on-hold time is greater than 30 mins. On a Saturday evening? Call a real platform and get help in 2-5 mins. Another sign I need to move on from E TRADE.