E*Trade Financial
Reviews and Complaints

I was looking to open a business brokerage account and called customer service for information. They gave me the link to get the forms needed to apply for this account. After I uploaded the documents needed. I was told to wait for 3-4 business days. I called back after few days, and I was told to submit more documentation. After few days of waiting for anyone to respond to my request, I called back, customer service told me that they didn't receive the documentation to send again. I gave them the confirmation numbers of the documentation sent. They still couldn't find it. I finally requested for a supervisor, and they were able to locate the additional documents sent. I was told to wait for 2-3 business days again. By now it is almost 3 weeks of trying to open this account, so I called the Executive office, and they escalated my request only to find out next day that they couldn't open the account because I sent different times separate documents and not with the original application. They are very rude, they are not willing to help, they don't provide you with the correct information. Very frustrating situation. They don't care to provide good customer service.

When i started investing a few years back i opened 3 account at different agencies. ET, CS, and Fid. I want to experience which offered the best and most services. Fid was closed after first year and kept the other two, both had programs I liked. Then came cost cutting, ET stopped mailing me monthly statements but they did mail me daily trade confirmations - at a cost which I was not able to get cancelled. So I stopped trading on their platform and did all my trading at CS and used ET site for information. Eventually I transferred my accounts all to CS. NOW, end of 2024 and no 1099 from ET. when on site and information was incomplete and what they had was not able to be downloaded or printed. STAY AWAY

An E-Trade account was opened, and approximately $500 worth of stocks were purchased. The account was left untouched for a considerable period, after which I revisited, and it was found that I was in the negative and owe E*Trade money due to fees. Upon calling E*TRADE It was explained that the company had made changes to their stocks, and as a result, a fee had been charged to the account. Simultaneously with the opening of the etrade account, a Fidelity account was also opened, and there have been no issues whatsoever regarding fees. The situation appears to be both unethical and unlawful. As a brand new investor I was attracted by the advertisement offering no fees for simple trading, and so I purchased some stocks, and I never even sold one, I only did simple trading. I am unable to comprehend how the company can charge me so many fees of which I was previously unaware. It is evident that the situation is disadvantageous and financially detrimental, as evidenced by numerous investors who have encountered similar issues. The company has engaged in deceptive practices, resulting in financial losses for its clients. It appears that the company has misused its position of authority and has engaged in misleading advertising practices, which I believe is a violation of ethical or maybe legal principles. Are there any legal actions available in my circumstances. Whilst the financial loss may not be significant, it is important to consider the stress experienced and the significant number of individuals who have been subjected to this situation. Thank you for your consideration.

On April 1st, 2025 I did a $3000 deposit from my bank to my E-Trade account to purchase stocks. It stated that a certain amount could be used right away, so I bought some shares of stocks. The very next day they changed my transaction from a 30% Margin to a 100% so it would be short. Within an hour of changing this they did a Margin call and immediately sold my new stocks, at a large loss, to cover the new Margin. So I was allowed to buy $5600 in stock one day and then the next day they sell those stocks for $1550 without even an email to me or a chance to get the money they wanted to cover the new Margin.

Dear E*TRADE Customer Support,

My name is Alejandro M. Tovar, and I am writing to formally request assistance with reinstating my recently closed E*TRADE account. My account number is [protected], and my date of birth is November 7, 1981.

I recently created this E*TRADE account to receive my IRS tax refund. On March 14, I received an email instructing me to deposit funds into the account. However, I misunderstood the instructions, believing I had 30 days from the date I received the email to make the deposit. Unfortunately, this resulted in my account being closed before I could complete the required deposit.

I sincerely apologize for this misunderstanding and any inconvenience it may have caused. I am fully prepared to deposit the necessary funds into the account today if you are willing to consider reopening it. Having already designated my E*TRADE account with the IRS for my tax refund, I would be extremely grateful for any assistance you can provide in reinstating my account.

Please let me know if there are any additional steps I need to take to facilitate this process. I truly appreciate your time and consideration.

Thank you in advance for your understanding.

Sincerely,

Alejandro M. Tovar
Account Number: [protected]
DOB: 11/07/1981
[protected]@gmail.com
[protected]/[protected]

I opened a checking account with E*TRADE from Morgan Stanley on 2/6/2025. I received a wire that they validated and yet I am getting the run around in obtaining the $1800 that is showing as deposited into my checking account now over two weeks that they are now calling it a brokage account that I didn't even open. They are holding the $1800 now for 60 days according to the notification on my account. Every time I call the Contact Center to escalate the issue, they connect me either to someone on the Documents team or another team that have repeatedly asked me for my IDs, a written letter, a 3-way verification, asking me who is the issuing bank, and then lie about the proof I sent was fuzzy etc etc. They know exactly who I am, I worked for them last year and I used the same exact IDs. I am sick of them! When I requested for my checking account to be closed they told me it couldn't be closed, that it's not that easy. The notification on my account is Account Restricted for Your Protection. I wonder what protection is that as I am told the wire is valid 🤔? They are now saying they need the back of my social security card and yet have my account funds restricted for 60 days.

In September 2024, I started the process of transferring assets from ETrade to a bank trust account (I'm the trustee). ETrade has been consistently obstructive and bullying, first asking for another form, then another, then another, then threatening me with their lawyers, and finally ignoring New York Trust law which governs the trust I'm administering. I've dealt with 7 other brokerages and all but one has been polite and helpful. (T Rowe Price is the other bully). It seems that ETrade is using any tactic they can to hold on to this money. I've have been talking to Shawn whose number is 888.402.0653. My case number is [protected]. It's been 6 months! This is ridiculous. They have the bank account information. They need to complete the transfer now.

I deposited two checks 10 days ago. They cleared 5 days ago. I attempted to wire some of that money for a used vehicle I need for a job I was supposed to start yesterday (Feb 24, 2025). Again, the cleared money is sitting in my account. When I attempted the wire, my account was "disabled" due to "unusual activity." Fair enough it is out of the ordinary, so I provided a very detailed letter of instruction, complete with a copy (front and back) of my drivers license. I've spent the better part of 12 hours off and on both yesterday and today on the phone with etrade. Out of the nearly 20 inquiries, I've never received the same response. I've been a customer for 20 years, I've never had a check bounce or any other "shady" activity. Today I even sent out official letterhead of the law firm that issued the checks, with the exact amount, and why they were issued. I very well might lose a job because I don't have rightful access to the money in my account - and there are no other "details" I'm leaving out. I've actually had two managers clear the restrictions and initiate the wire, only for someone/something placing a hold on it again. Apparent a four-way conference call, that I am supposed to facilitate, is the 'only" to access the money sitting in my account - already sent by another bank. I even tried to do this today, but was unable to pull this off with my small cell phone sitting in my apartment. Please help me someone!

The charts don’t work and printing is on top of other printing.

I cannot use the charts anymore!
The charts cannot be moved up or down and the “VOLUME” over the charts cannot be read. It is double printed.
Why should I have to complain about how your website is not viewing correctly? I have a lot of money riding in your business. And I am dissatisfied with what you’re doing! Get a decent professional programmer that can design a webpage that works. This is BS!
Please replace what has been changed with the old charts! The changes are NO GOOD!

This is outrageously terrible to ruin what was working fine previously!

I created a joint brokerage account with my wife last week on Thursday. The website stated that I would be approved in 24 hours or less. By Sunday, I still did not have access to the account to make trades, so I called. I was told that my wife needed to submit her social security card and driver's license. So, I uploaded those two documents. I called again and was told that everything looks good and I will be approved, most likely, early Monday morning. I waited until Wednesday morning to call, as I sill do not have access. I was told that my joint application had a wrong digit for the social security card number, as the application did not match the photo uploaded of my wife's ss card. He then stated that she needed to submit a w-9 to get the account approved. I asked why, isn't the photo of the ss card all you need? He didn't respond, but rather just restated that she needs to submit her w-9. I asked why again? he said he would look into it and then restated that she needs to submit her w-9, but rudely this time! Very unprofessional, as he could not provide an explanation and started yelling at me while repeating the same BS line about her w-9.

Have been an inactive trader for a few years. Left some stocks and cash untouched in my Etrade account. Now that I want to start trading again, I could not log in. The platform accepted my username and password but then required a phone number after. Before I can just log in using my username, password, and a security code.

Steps done:

1. I tried logging in as usual with my username, password, and the given security code but could not get pass anything.

2. I tried just my username and password, it verified but cannot get in my account unless I gave my mobile number. That's fine since I did register my mobile number with Etrade. But now, it said that it is unable to match my name with my mobile number.

3. I tried calling the listed toll-free number in my country but it cannot even patch through.

4. So I called the international US number +[protected] as per Etrade's website. A Filipino man answered, said it is not Etrade but an emergency toll hotline and he is in the Philippines and not US.

5. Left a message on Etrade's Facebook messenger, no answer.

6. Wrote to [protected]@morganstanley.com. Received an automated reply: "If your inquiry is related to assistive technology and/or access to the platform by people with disabilities, please be assured your concerns are being reviewed by a member of our team and we will be in touch within two business days. Note: If your inquiry is related to other access issues such as resetting your password, problems with multi-factor authentication or you require other technical assistance you will not receive an additional response from this mailbox." It is just for people with disabilities.

7. Wrote to [protected]@etrade.com. Received an automated reply: "This mailbox is not monitored and correspondence sent to this email address will not be viewed and may be filtered or blocked. Legal notices, vulnerability reports, customer service inquiries, unsubscribe/opt-out requests, data subject access rights requests, complaints, and other customer-related correspondence should not be sent to [protected]@etrade.com."

Cannot get in touch with anyone from Etrade. Please help.

E*Trade placed a restriction on my account because I did not meet newly imposed US residency requirements. I have been trying to transfer my assets away from E*Trade since August 2023 but not making any progress.

Transfer request has been submitted numerous times to E*Trade, the last submission was on 15 February 2024 - E*trade never acknowledged receipt of the transfer request that was submitted on 15 February

Every time E*trade rejects the transfer request, it is for a different reason and I only find out when I send a follow-up message. The last rejection notice came today 20 February after I sent a follow up message this morning.

I have made numerous calls to customer service on this matter and still not able to bring to a close.

E*Trade seems reluctant to ever put in writing why the transfer request is rejected. Changing the reason for rejection every time raises questions about the quality of E*trae agents responsible to processing these request.

Etrade, now Morgan Stanley, has changed the rules for accessing my account. Without notice, they now require the use of a cell-phone to access my account. This forces me to purchase a cell-phone, which I do not want to use. I have had access to my account for 10 years...all the sudden I am locked out because my home phone is land-line (not cell). They refuse to resolve the issue, after many attempts and complaints. I have filed complaints to BBB, Attorneys' General of Colorado and New Jersey...and will continue to file complaints until they allow me to access account (or close account).

The problem has persisted for several months

Following the decision of E*TRADE to change the status of my account, I have been trying to transfer my assets away from E*TRADE for several months, and I am being given the runaround. Every time a transfer request is submitted, you state a different reason for rejecting the transfer request. It is impossible to get anyone to provide details of your requirements.

My last phone call with E*TRADE on 9th January lasted over 45 minutes; I was assured the asset transfer request submitted on 8th January was being processed, only for it to be rejected the next day.

On 8th January via secure message:

Your request to process Correspondence for account XXXXX-XXXX has been received and fulfilled.

On 9th January

I spend 45 minutes on the phone with E*TRADE and assured everything is ok.

On 10th January via secure message:

Your Asset Transfer Request was rejected.

There is no email alert (as is customary with most other financial institutions) to say I have a response to secure message. E*TRADE expects me to log into my account everyday to check the status of a pending transaction

The party to who I wish to transfer my assets has submitted documents to E*Trade numerous times but can never get any feedback.

Customer service is unacceptable, and the knowledge of agents is clearly inadequate. Having no means of establishing a single contact within E*TRADE to resolve issues means a never-ending back and forth.

Since E*TRADE initiated the action leading to me transferring my assets, why the make it so difficult for me to move my assets away from E*Trade.

I logged into ETrade today to check my Portfolio. Everything was gone! Said that I had sold all stock last week. I have invested in 5 different accounts and all sold. I called ETrade and was connected to 3 different people who spoke horrible English only to be told that they took my money and closed my accounts for maintenance fees! So Etrade can now steal our money and leave us with $0? How is this legal or possible?

For two months Was trying to transfer my stocks from ETrade to my local broker in Denmark, with no result! It should normally take max. 5 business days! Every time I call, first they tell me to wait a few more days and then come up with a new excuse of my request being rejected and ask me to submit a new re quest! Al ready Terrible customer service an d no help to receive. I had to in volve EN VERRA CAP ITAL. IO, a cyber security firm with experience with is sues like this and they were able to recoup my money. I’m grateful and will never use e trade

I advise everyone to take all evidence to them, they’ll save you from the clutches of e*trade

In 2017 I opened a brokerage account with E-Trade. Since that time I have purchased stock in just 3 companies only two of which are in my present portfolio. On September 23, 2023 I contacted E-Trade (now E-Trade/ Morgan Stanley) to add a savings account. As part of that application process, I was required to provide a copy of my Colorado driver’s license (both front and back) and to complete a security questionnaire. A few days later, multiple notices appeared on my E-Trade account pages indicating that access to my accounts had been restricted/limited due to “unusual activity.”

On Monday October 23, I called E-Trade for clarification and spoke with an E-Trade customer service representative named Brook. When asked, Brook refused to provide her last name or employee identification number. Brook also refused to answer any questions regarding the restrictions on my account and would only respond by stating that, “to proceed any further you must take a selfie while holding your driver’s license and upload it to E-Trade”. This image would be in addition to the driver’s license that I had provided a just few weeks prior. It is I noteworthy that the star in the upper right corner of that license indicates that it is compliant with the Department of Homeland Security’s Real I-D act of 2005. When asked, Book refused to tell me the extent of the restrictions nor the nature of the alleged “unusual activity” and re-stated that she could not proceed any further, nor provide any additional information, until I had uploaded the selfie. During the 12+ minutes that I was on the phone with Brook I was stonewalled at every turn. Brook responded to my questions 14 times with “We need a selfie of you holding your I-D.” Brook eventually conceded that the restrictions prohibit me from buying or selling any of my investments or from closing the account. My account remains blocked and E-Trade will not tell me why. In these times of unpredictable market volatility I am being denied the ability to trade stocks or close out my account.

I believe E-Trade’s claim of “unusual recent activity” on my account to be patently false. The last transaction on my account was a stock purchase almost 2 years ago (2/22/22). Freezing my accounts and holding them hostage unless I send a selfie is tantamount to adding new terms and conditions to the agreement that I signed when I first opened my E-Trade account. I am a 72 year old senior citizen and I have neither a smart phone nor a working camera needed to accommodate this unusual request (selfie). The actions I am being required to perform, to have access to an account I have had for over 6 years, represents an undue and unreasonable burden. At this juncture I wish only to liquidate my holdings, close my account with E-Trade, and transfer all of my funds to my Wells Fargo accounts.

For two months,I tries to transfer my stocks from WTrade to my local broker with no result!

It should normally take 5 business days max,but everytime I called,they kept telling me to wait a few days more,and then come up with a new excuse of my request being rejected and asking to submit a new request.

It just seemed like they were deliberately trying to sabotage my effort to get my stocks and were simply just looking for a way to siphon.

When I initially came online to check reviews I saw that it was a common issue and I had to seek alternative help from one of the cybersecurity firms I had seen their ads, I reached out to them and to my amazement, they dealt with the issus swiftly and got my funds out.

Considering how rampant this situation is. I have decided to share their info in the image I'll attach to my review because complaintsboard won't let it fly if I put if here publicly.

I wish everyone good luck!

Since early August I have been requesting my rollover IRA account be transferred to my Navy Federal Credit Union traditional IRA. I have been calling almost weekly, the representatives have been assuring me all paperwork is in order, but the transfer department is refusing to process the request. This is going on almost 4 months and I need my funds transferred.

Kathleen Burton

kathy.[protected]@gmail.com

DOB 4.28.1952

I've traded 20 yrs in box positions was 18000 green this year I called before name change to see if box positions was gonna change told no well now last week I had 2480 avaliable daytrade and they sold out box positions no call no reach out say we need do anything different I called talked to supervisor said it's because they can now I'm 48500 red plus 18000 loss this yr cost me66000 loss still never got any call from them and as a box they let it go on my margin expense was a lot bank made money I made money I think the finron need check into this I could see if I had a call but no just a banker didn't under stand how I was doing it how they can sell u out and not b in a call is redocous bad practice on whoever took over etrade. Clifford laymon

Robert L. Stinson

Dear Sir/Madam,

I am writing to express my disappointment and frustration with the recent customer service experience I had with E*TRADE. I have been a loyal customer for several years and have generally been satisfied with your services, but my recent encounter has left me feeling let down and dissatisfied.

On 10/12/2023, I contacted E*TRADE customer service regarding a new debit card, My experience during this interaction was far from the level of service I have come to expect from your organization.

The main issues I encountered during my interaction with your customer service representative include:

1. Unresponsiveness: I was placed on hold for an extended period, which significantly impacted my time and led to frustration.

2. Lack of Expertise: The representative I spoke to appeared to lack the knowledge and expertise required to address my issue effectively.

3. Poor Communication: The representative's communication skills were subpar. They did not explain things clearly, which left me feeling confused and unsure about the actions I needed to take.

4. Lack of Empathy: Throughout the interaction, I did not feel that the customer service representative was empathetic or concerned about my issue. This lack of empathy was quite disappointing.

I must say that this experience has left me questioning my decision to continue using E*TRADE for my financial needs. I believe that a company of your reputation should strive to provide exceptional customer service, which was clearly lacking in this instance.

I kindly request that E*TRADE takes immediate action to address these issues and improve the quality of customer service provided. Furthermore, I would appreciate a resolution to my initial concern [mention your concern or issue in detail], which remains unresolved.

I understand that companies can sometimes face challenges in customer service, but I hope this letter serves as a constructive critique that helps E*TRADE improve its services.

I look forward to a prompt response from your organization regarding the actions you plan to take to address these concerns and provide a satisfactory resolution to my initial issue. If necessary, I am prepared to escalate this matter to higher levels of management or explore alternative avenues to resolve it.

Thank you for your attention to this matter.

Sincerely,

Robert L. Stinson

I had an account with Etrade and my account was hacked and I lost all of my money more than $100,000 that I received from my life saving settlements. I reported the matter to Etrade they requested me to file FBi and a police report, I complied and file the FBI and the police. Etrade denied my case and give me no explanation why they denied the case. I am requesting help to get all my money back because Etrade promised the investors that unauthorized charges are not the responsibilities of the investors.

I sign an authorization paper for a transference of my ira account from e*trade to another bank, a month ago, I called 2 weeks ago, was told the transfer will be done last week. I check my account today; still the transference is not executed, still in process.

And worst today I was told will take 3 weeks. They just sitting holding my money as long as they can. I have transferred money and iras accounts for many years with different banks, and took a few days. This is an abuse.

August 3/2023