E*Trade Financial reviews & complaints 41 - 40
E*Trade Financial complaints 40
On Saturday, my account had been closed by ETrade, and all my funds of $8500 were cleared out, with a net asset of $0. I was given a phone number [protected] to call, and I will do so on Monday. I...Read full review
E*Trade Financial - I would encourage everyone to not trade through ETrade and to beware of hidden costs if they do
I purchased my first stock in the year 2000 for $5200.00 using ETrade. As most all tech stocks did, my stock plummeted and, at one point was worth $198.00. Over the years it has slowly began to climb back. I recently sold the stock and, after $19.99 for their commission fee and $3.00 for miscellaneous fees, I was told that my balance was $2004.00.` Customer service told me to wait for three days and then to request a check from them for the amount aforementioned.
I am getting married soon and I sold the stock with the intention of paying for the rental of a facility costing $2000. My fiancйe was happy that this cost would be covered since we are paying for the wedding ourselves. Six days later I called to request a check from ETrade and I was told that my balance was $1771.00. I asked customer service where the $230.00 went and they told me that any customer that has less than $5000 dollars is charged $25 quarterly and that I owed them this money for maintaining my account.
When I first bought stock through ETrade, I did it because I was told that it was only $8.00 per trade. I was not told that it would cost me an additional $25 per quarter. After being on the phone with two different people at ETrade for a total of 48 minutes, the best I could get was for them to reverse one charge. Out of frustration, I requested that they send me the check for $1796.00.
Now I have to come up with an additional $204.00 that I don't have for my wedding. If I knew of these hidden maintenance fees, I would have waited for the stock to go up more before selling it. ETrade customer service had the attitude of, "Oh well, you should have known." And, why shouldn't they? They have my money.
I would encourage everyone to not trade through ETrade and to beware of hidden costs if they do.
E*Trade Financial - Auction rate security fraud
I am almost 62 years old, and in the fall of 2007 I was lured by E*trade's ad for a JP Morgan money market fund for an IRA. In Short I called to purchase this money market fund, (the trade could not be placed on-line) I was transferred to their "fixed-income" department and was solicitied to buy Auction Rate Securities, for which the market has been frozen since Feb 2008.
E*Trade, in my opinion, knew the risk of this soon to be illiquid market, yet pawned them off on me and thousands more of their "clients=victims". They have been totally uncooperative, intransigent, rude, threatening, and unwilling to accept responsibility for their fraud and lies perpetuated by their agents back in late 2007. They offer no solution to help assist those of us caught in this mess, and they continously deflect, deny, and defend their lack of accountability and irresponsible stance.
They have effectively stolen my 50, 000 in an IRA no less and they only put up a smoke screen with low rent mafioso like attorneys. E*Trade from my experience is pure pond ###, and has zero ethics, and morality. Who on Wall Street does? They are the worst of the worst. RUN, DON'T WALK AWAY FROM E*TRADE, They will *** over financially given the chance and are totally untrustworthy to be a custodian of any one's money.
E*Trade Financial - liquidated IRA shares in index fund, now won't allow transfer
Etrade liquidated the shares in its Etrade SP500 index fund in my IRA without notifying me at the bottom of the stock market last year. For 8 months I've been trying to transfer my assets to Vanguard and Etrade always finds some reason to reject the transfer. Etrade is a criminal organization.
E*Trade Financial - Poor way to do business
Etrade sold all of my stocks without notification!!! Apparently there was a quarterly fee that I was unaware of (also was not notified). To make up the negative balance on my account, Etrade sold all of my stocks that could potentially be worth a significant amount of money some day. You would think that before they decided to sell all of my stocks that I would have been notified by email or phone. This is a very poor way to do business.
E*Trade Financial - Reoccurring Transfers
I'd setup a reoccurring transfer from my Chase account to my eTrade account back in May '09. After the first transfer went though on June 1st, I stopped all reoccurring transfer. On July 1st, lucky I received an auto alert from Chase when my account balance drops below a certain level, eTrade is still doing the reoccurring transfers at the first of every month, even though when I checked online, I had no pending transfers, reoccurring transfers or anything. Customer support said I did the transfer online, I call ###, and she didn't know what as going on. I talked to an agent in the Philippines, one of their call centers, and a supervisor in Houston TX. All were very rude, didn't want listen to what I had to say and didn't want to help.
Basically my bank, Chase, told me to wait until the transfer gets posted before I file for fraud. Etrade didn't have my permission to take money out of my personal banking account.
E*Trade Financial - DECEPTIVE ADVERTISING
DO NOT USE THESE FEE DRIVEN CROOKS!
ETRADE claims on its website to have "NO FEES" "NO HASSLES" to open an IRA. First, they held my money for 8 business days AFTER they electronically received it.
Then they charged me a "fee" of .15 for trading over 2000 shares. This NO FEES FEE was not anywhere on their advertising page or even in their fine print. When their customer service was contacted they did nothing.
DO NOT USE THESE FEE DRIVEN CROOKS!
I am transfering my IRA account to Scottrade who will pay for the transfer!
SO MUCH FOR NO HASSLES!
E*Trade Financial - Harassment
We filed and received a line of credit from Etrade. We pay our payments every month and haven't ever missed a payment. Now Etrade calls 3 or 4 times a day to harass us. Some person on the internet warned me not to go with Etrade because they harass people by calling and saying they are recording the conversation. We record every call there is from them.
To get the calls to stop we are going to file a lawsuit and make it very public. My advice: Don't apply for a line of credit on the internet.
E*Trade Financial - Took all of my money without warning
I opened an account a few years ago with $1, 000 in it. I did not plan on doing much, just to see if it would grow.
I kept an eye on the investments every month and do not remember anything about a $40 penalty for not trading.
Afte about 4 years with Etrade, my statement said I only had $10 left in it. Etrade sold my stock and kept the money for their fees.
There was NO WARNING that this might happen. I am sure there was some fine print somewhere that I missed. Bottom line, I BELIEVE THIS IS AN INTENTIONAL STRATEGY TO ROB PEOPLE OF THEIR MONEY.
Would we put up with an electric company that never sent you a bill them turned off your electricity without warning? ETrades policy is liked to that. I wish I had never heard of ETrade.
E*Trade Financial - unauthorized charging
Etrade overdrew my brokerage account by $6, 000 with no notice to me nor even a simple phone call, just to satisfy the greed of some broke broker. I'll enjoy watching them and their lawyers in Bankruptcy court. Suggest you read every single line of their agreements or their lawyers will steal your money. I used to have over $100, 000 in accounts with them, and their short term greed has cost them all of it.
E*Trade Financial - Unauthorized billing
We had a small account with them that had $10, 000 plus in stocks. Needless to say, it went down in value recently and they started to pile on their maintenance charges. I decided to close it and get the cash. Easier said than done. I started the process October 7th, there have been glitches galore, and now, to add insult to injury, they are charging me $10 for a check. I still don't have the money. I had a checking account with them that they could have used, a wire to our bank account that they could have used, or just a plain free check. I will be back in the market but will go with any other company doing this sort of thing. I have never complained in print about a company, but these are bad folks to deal with. I can't imagine that their enthusiasm to get the float on every $ won't bite them in the... in the end.
E*Trade Financial - Awful service
Opened account with Etrade and electronically deposited funds. Etrade web site indicates funds will be available in three business days. It's been 5 business days and funds still not available for use. No Etrade indicates they will not release funds until two weeks after the account is opened.
Numerous calls and emails to Etrade have failed. Etrade refuses to release funds, despite acknowledging the funds were deposited electronically 5 days ago. Their customer service officials have no clue how to serve, they simply repeat no, no, no.
I will close my account... they won't close it until two weeks have passed... as soon as possible and suggest anyone considering this firm look elsewhere.
E*Trade Financial - Bad experience
I had options in altria 2 months before the spin-off of Philip Morris intl. I talked to one of their reps 2 weeks before the spin-off and he reassured me that I would have adjusted options to reflect the spin-off. The spin-off happened on a Friday night and opened Monday morning. When it opened Monday my options were up a good amount. I tried to sell them but etrade wouldn't let me. I finally got through to the options desk and got a trade through. I tried to make another options purchase later that day and couldn't. I had a cash position of 6, 000 before this day even happened I wasn’t trying to use the proceeds from the sale. They had put a 13, 000 margin call on my account. This was supposed to be fixed when I looked at my account the margin call was gone. But I still could not buy anything, a closer look at the bottom of my info page revealed a cash call against my account for 12, 000. I missed several trades and a lot of money, the last rep I spoke with told me to write a letter to compliance and complaints. All they said was sorry about your inconvenience. If anyone else has had problems like this please contact me. I am going to send copies of my letter and there response to the NASD and the SEC.
I am the treasurer for an investment club. We maintain a portfolio valued in the low 6 figures. While not large, I would think this size account would merit decent service from our broker, Etrade...Read full review