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E*Trade Financial review: Unethical and unauthorized stock transactions

zcindy of US

Apr 16, 2025 6:16 pm EDT

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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.

Claimed loss: $4000

Desired outcome: Action reversed and my stocks put back into my account. Some time to put outside funds into my account to cover what is needed.

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+1 (800) 387-2331
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+1 (877) 921-2434
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+1 (866) 503-2856
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cpo@etrade.com

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1271 Avenue of the Americas, 14th Floor, New York, New York, 10020-1302, United States

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