I had the same problem with E-Trade today. I am a first time customer and in fact had never bought stocks directly. I was sucked into applying with e-trade with the "bait and switch" technique of "free trades for 60 days." I had read all the application info and even talked on the phone to a customer rep. about applying So today, April 26, 2010 I bought 50 sales of a stock and noted that the commission of $9.95 or so was charged. I phoned the company and a rep. told me that I had not deposited the required $2, 000 to be eligible for the 60 free trade days. I had only deposited $1, 000. I disputed this comission charge extensively and complained about the "60 free trade days" promotion as being deceptive as the required $2, 000 deposit wasn't mentioned anywhere in the promotional literature and while appllying. Of course the usual "we're sorry you weren't aware of this" line was given out...Ha Ha! E-trade could care less!
The rep told me that she could only enroll me retroactively in the 30 day free trades so out of complete frustration and anger, I said OK but that I would complain on the web and warn future applicants. However, e-trade in my opinion is just another crooked wall street gang and obvioulsy could care less about" bait and switch " complaints. what a racket...don't apply for an e-trade account. The business is obvioulsy crooked. I am not stupid and applied with the understanding that I had 60 days free trade. It was a ploy for business and is unethical. In this economy and distrust of wall street and big banking, how dare they do business like this. I will get out of this as soon as I can. Crooks they are!
