e*Trade
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e*Trade Reviews
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I had two accounts with e*Trade set up for my children and was beginning to trade for their accounts and almost immediately, randomly, one account had funds on a common stock trade locked up for the settlement hold and one didn't. Then the reverse happened to the accounts. I was mystified as a former investment banker, I knew the rules of common stock holds and trading and when I waited the 40 minutes to get a call center rep who said the usual idiotic "I understand your concern" which she clearly did not, I asked for a professional to speak to about the policies at e-trade. I then waited another 30 minutes to speak to their trading department expert... Needless to say, this person was not an expert, just spewing some arcane policy within e-trade about needing to have a different account classification etc...
I tried to explain that this was a simple common stock sale, to then make another common stock buy and the funds were not available. Of course, I lost the trade profit because I couldn't make the purchase with the funds unavailable from the sale... So needless to say, the shocking wait times, unprofessional people at the other end of the line who are not in the industry, arbitrary holds on funds, while anyone can choose a company like Schwab/Fidelity etc...who have far faster customer service, clear availability of traded funds on common stock, why is this Company even in business? I won't even get into the headache of closing the account and transferring the funds, stocks in street name. Just don't open an account with this Company and ask yourself what Morgan Stanley was thinking when they bought this joke of a Company.
Time wasters, unreliable and definitely swindlers. Birman law, wealth recovery or most of these recovery companies can't be of help. You need to either venture into the darknet and get a trusted hacker or reach out to Petru at Hackwithme. tech. You'll be surprised how things are done from that side of the internet. I got 2.9btc back in no time, gave him his share and it was an amazing feeling.
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I've been using e*Trade for more than three years now. Generally, until recently, I've been satisfied with the service. Given my experience, one would think a long-time customer with zero problems would be entitled to some sort of courtesy or benefit of the doubt or just plain accommodation. Not with e*Trade. I've transferred funds in from both my business bank account and from a personal bank account without issue. Never were any of my transfers questioned nor were my accounts verified. So picture my surprise when recently I went to transfer funds in from an account I've already used without incident. The e*Trade system said the account had to be verified. Don't know why since e*Trade accepted fund transfers from this account previously, but okay.
So, I go to verify the account, and the only option offered is through cell phone text. The number I have on file (and have for more than three years) is my business landline office number, which does not accept texts. It asks for an alternative mode of verification, and the only option offered is cell phone text. No option for email verification, no option for voice call verification, no option for making small deposits to the account, all methods used by other brokerages I've used -- no option for anything that respects the preferences of a client.
Again, okay, I add my cell phone number, which I've had for three years. And it says the phone isn't in my name (it is) and so won't recognize it. I ask for an alternative mode of verification, and it goes back to my office number. This has happened multiple times and the system remains in this kind of endless loop. This is a totally moronic system and I've previously discontinued using companies that only rely on cell phone text verifications given how inconvenient they are.
I sent an email to e*Trade's so-called customer service since I consider my time as valuable as theirs and don't want to go through the hassle of calling. It took several days to get a response, and basically all the response did was reiterate what I already knew, though it did say my number would be approved in a few days. It's been almost two weeks now, and the number has not been approved. There was a suggestion to use their app to deposit a check, and I don't want to go through the hassle of doing that since I use my cell phone as little as possible, and as a phone, not a camera. They also suggested a wire transfer, which costs money. As for their explanation as to why they accepted a fund transfer from this same account previously with no verification, they said it was done as a "courtesy" (translate, greed, to get money in, but if it was a courtesy they'd approve the same account).
Needless to say, I've had it with trying to deal with this completely inflexible and inaccurate system. I understand e*Trade has been sold, and I hope the new owner will have more respect for their clients. Needless to say, this whole experience has been very frustrating to me.
I wanted to like them, and they do not deserve to be in business. The GOOD: Opening an account is easy (take 3 days with wire), the website is complex but offer a lot of options. The BAD: If you need to contact them be ready to wait a long time more than 2 hours each time, and they care at all. Put your money in another place with decent policy and services. The UGLY: Employees on the phone are overstressed and are understand, it seems like a small family business, YOU HAVE BEEN WARNED.
These crooks have locked me out from trading. I can do nothing with my money. And they won't answer the phone either. 5 hours on hold yesterday. 2 hours so far today. These crooks don't deserve 1 star.
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I do not know how these people are still in business. I tried to wire money from my account but the link is down. Tried the customer support chat, that is down. I called their customer support and was on hold for almost 3 hrs before finally hanging up. Unfortunately my company's ESPP plan is through them so I have to use them for those transactions (thankfully nothing else). If this is how their customer service operates good luck with them.
Tried to open an account and waited the 3 business days for money to be available. Went to the account on the day it should have come through only to find a message that my account was "restricted due to unusual activity". Never got an explanation of what that was because by the time I got to speak to a person I was pissed off enough to close my account entirely. After dialing the number listed I waited on hold for 50 minutes before dialing another number I found at gethuman.com (kudos to them btw their instructions worked and I got a person).
After speaking to a person, it still took half an hour for him to correct whatever was wrong and get the money transferred back to my regular bank account. At least the rep (I think his name was Dave) was polite and got the task done, but he sounded tired and a little bit resigned, like he had heard this a million times. I felt sorry for the guy because it sounded like he was a genuinely nice guy, overworked handling problems for a company that doesn't care for its customers, which is not a good sign. Only reason this is not a one star review is because of that nice guy.
Horrible. Do not sign up for E trade E*Trade E-Trade. Make you do allll sort of time wasting things. Sells your stock without your permission after the market goes down! Customer service is a nightmare. Worst thing is that once you sign up you are trapped. You cannot cancel!!! So DO NOT SIGN UP with E trade.
I was a customer of E*Trade for 7 years. I bought stock and I did futures trading. The future platform will make you lose money. Lags, is super slow. If you ask for help they will not help you. The waiting time to get someone in the phone is 45 minutes. I will not recommend to anyone. You can find better companies than E*Trade.
I have been a member since the company started. While the platform is user friendly, they impose equity requirements on positions anytime they want for no reason. Many times with no advance notice! A stock Roth 55% equity requirement right before paying a huge dividend and doubling in value in the past month was raised to an equity requirement of 70%. Are you kidding me?
eTrade author review by Clark Kendall
E*TRADE is an online brokerage firm that offers consumers several financial tools for investing. Their online trading platform offers both a simple, easy-to-use interface as well as a more detailed and complex system for more advanced investors. E*TRADE was founded in 1982 and made its first electronic trade the following year.
Suggestion wizard: E*TRADE’s homepage features a wizard where potential investors can provide some basic information and then receive recommendations on which type of products and assets might be right for them. They do not need to provide any personally identifiable information to receive the recommendations.
Platform: E*TRADE’s platform provides clients with a one-page view of all their investments with options for researching more thoroughly. Investors who are concerned about the speed at which their transactions are processed and the way they are executed can find all the relevant information on the E*TRADE site.
Resources and tools: The E*TRADE website has stock market news articles, lists of investment ideas, historical charts to track trends and more. Account holders can also access tools like watch lists and advanced searching to screen stocks for their portfolio.
Education: Those who want to learn more about finances, trading, the stock market and other related topics can find educational resources on the E*TRADE site. The Knowledge Center section of the site has information articles and videos designed all types of investors.
E*TRADE Pro: Those who have an account with more than $250,000 or who execute more than 30 trades during a quarter can access the company’s Pro platform for free. It offers more advanced tools and data for experienced traders.
Clark Kendall has over 30 years of domestic and international investment and wealth management experience, focused on serving Middle-Class Millionaires. He is a Chartered Financial Analyst (CFA), Accredited Estate Planner (AEP) and Certified Financial Planner (CFP). He is the president and CEO of Kendall Capital in Washington, D.C., and a member of the Washington Society of Chartered Financial Analysts.
e*Trade Company Information
- Company Name:
- eTrade
- Year Founded:
- 1982
- Address:
- 1271 Avenue of the Americas, 14th Floor
- City:
- New York
- State/Province:
- NY
- Postal Code:
- 10020-1302
- Country:
- United States
- Phone:
- (800) 387-2331
- Website:
- www.etrade.com