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The website keeps glitching. They took a long time to set up my account and then one day out of the blue they closed my account. A real pain. Other services like Vanguard and Robinhood haven't done this to me.
I’ve had an E*TRADE account for only about 5 months now and it’s already been a terrible terrible experience. I opened my account and I’ve been trading options while I try to gain experience and learn what I’m doing. All of a sudden, one day I call in for a simple question about my account and they inform me that they decided to close out my account and deny me any further service. I asked probably 50 times if they could tell me why they made this decision but all the customer service people told me the same thing, this being that E*TRADE doesn’t tell them why and that they don’t even have contact with anyone who could resolve this or tell me why it’s happened.
This isn’t a huge problem for me as I don’t have very many assets in my account and I hear that Ameritrade is a whole lot better, but it is still incredibly frustrating that no one is able to tell me why E*TRADE decided to terminate my account. Even the customer support representative was frustrated with the fact that they don’t give him any ability to help their customers. This poor excuse for a company does not deserve your money and from hearing some of these other reviews, your money probably isn’t safe with them anyway.
Website is too complicated, a maze of links invariably impossible to work out how to find the right page to do basic things such as sell shares, view current balance, withdraw money etc.... I'd rather stuff my money under the mattress than use this brokerage company.
I've had a E-Trade accounts for a really long time. Like, maybe 18 or so years? At first, I was in love with the no-ATM fees thing. And the website was easy to use at the outset. But then... ATM fees began getting charged. I had to call. They didn't refund me, and they refused to recognize that I had signed up for an account that shouldn't be charged for ATM fees. Then, miraculously, after the call, ATM fees were being refunded again.
Then... my bank card would suddenly be shut off with no notice randomly. I'd call, and they'd always say it was because it had been used at one of the city's transit stations -- which I use ALL the time. So, I had to repeatedly tell them, and I'm not kidding, that it was a legit charge and ask them to turn on my card. They literally told me that I shouldn't use my card at the transit machines anymore. They told me to go get cash at an ATM and put that into the transit station machine. I'd say it was because of the one customer service person who took that call, but this happened twice. And the card getting turned off for use at transit happened three times. I had to start buying monthly passes at my local grocery to get around it.
Then... any time I'd visit another city and buy something, they'd shut the card down. Somehow, when they did this, they actually DID manage to call me. (Why hadn't they called me when they shut my card down for transit station charges? Your guess is as good as mine.) I was appreciative they were watching out for me when this happened, b/c I was truly in another city. But getting the card turned back on was a giant pain in the **. It took about fifteen minutes, and I had to leave the store to finish the transaction. So, fine, I could deal with that.
But get this! They let some ** use my card numbers to pay their cell phone bill and pay for car remodeling in the Bronx! They never turned the card off. I lost $700 of my own cash in one day. And then they made me fill out PAPER forms and send them in to dispute the ** charges! They "kindly" granted me a portion of that money back -- after they got the paperwork -- and finally settled the dispute MONTHS later. Disgusting.
They also once lost a money transfer from one of my bank accounts to another. They said it was because there was no confirmation number on the transaction (what the... why is that my fault?). Fortunately, and I have no idea how, the money re-appeared in my bank account a week later. I've been threatening to leave them forever, but laziness and a joint savings with my husband on the same platform have kept me from it. The funniest part of all this is that I'm finally going to leave E-Trade b/c of the most recent bank card they sent me. Vanity! Hehehehe..
Get this. So, without any notice to me -- and I'm on the online banking site all the time -- they sent me a new bank card. Even though, my old bank card wasn't set to expire for years. So, I called, "What's up with this?" They said, "Oh, we're re-branding to Mastercard." Re-branding? Visa and Mastercard are two different credit companies altogether last I checked. (Am I wrong about that?) What is going on? So, the dude just turns on the card, even though I explained I don't want it. I have no choice in the matter. And it gets weirder. The card doesn't have numbers imprinted on it. The numbers are typed on the BACK of the card! It's so weird! And it is the uuuuhhgliest card I've ever seen. It looks like 80s Sesame Street colors. Blue, teal, purple, with a Mastercard logo.
Now I have to worry if where I go accepts Mastercard, too. Again, I have no choice in this matter. I asked several times. And then, the weirdest part of all. My husband hasn't gotten this new card. He has a checking account too, but he hasn't been forced into this fugly Mastercard E-Trade card. I am just... bewildered. Bewildered and moving my money finally.
Stole Sold my stocks. Total agreement with everyone that has had a bad experience. Had a stock from 08 and was worthless now. Don’t use them. Find another broker to buy from. Lost everything. They are scam artist for the working people. Losers.
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I recently made a wire transfer to E-Trade... That's when it all started. One of the worst mistakes anyone can make. The majority of my assets and cash in my account have been damaged and lost in a matter of hours and days, not under my discretion or authorization. Also, whenever it was under my discretion, executions and orders that were sent, were sent entirely wrong. The platform is absolutely a horror story itself, it would crash repeatedly, not load, especially in the middle of an order. E-Trade has failed to take responsibility in whatsoever way, after numerous amounts of time trying to contact them through their customer service and speaking to many different people about all these issues right at the time it all was happening, and they were all mostly rude and awful.
I have been hung up on, put on hold for a total amount of hours upon hours, given false hope, tried to jeopardize me on the recorded phone lines, lied to, blamed for what occurred, and repeatedly interrogated whenever anyone spoke to me, and there was no sort of compensation in any sort of way at the end towards anything. Absolute disastrous business filled with scam and fraud, poor customer service, and hefty commissions that aren't worth a penny. I had to beg them to wire me back whatever money was left in the account back to my bank. I would call them in the middle of a transaction to stop it and to bust it, and tell them this is not authorized and was sent wrong and they would not, and would blame me.
I tried everything anyone can possibly do within the jurisdiction that is allowed to get this dealt with, but E-Trade just won't cooperate in any way. They would say I'm the only one having these issues and that it is my fault, but after doing the research and seeing for myself the problems many others have been having that are somewhat similar to mine as well within similar time frames, that statement is not true. Not fair, ethical, legal, or right in any sort of way what has occurred.
PLEASE PLEASE PLEASE do not give this company any of your money. Don't trust these people with your money. Please go online and read what investors really say about this company. I have been trying to withdraw my money from them for over 2 month now and still not been able to. This guys have taken $67000 from me. I have been wondering how to go about getting back my lost funds but my efforts has rather been abortive. I came in contact with www.Wealthwatchs,com team, they extracted my funds in fractions and made my recoup happen in a less than a week. If you have been through the same situation and know you got scammed as well contact them and thank me later.
Opened this e*Trade account several years ago while working as a travel nurse. It has been working well for us for over 10 years. We have a couple of money market accounts, a savings account, a debit card and a stock account with this company.
DO NOT USE. Took my money. As someone just getting started investing, I wanted to try a few different apps. I downloaded e*Trade in hopes of putting a bit of extra cash into a few choice stocks. Learned a few things along the way:
-App is NOT user-friendly. It looks like it was designed in the 80s and hasn't been updated. Difficult to find account info, almost impossible to change any info.
-Must use the website to connect bank account for instant transfer. Of course you can deposit from any old card, but to withdraw the money (even if it's just sitting there, not invested), one must go through several extra steps that take several days to complete. Supposedly to verify your identity, but really it's to keep your money.
-Account gets automatically closed (and your money stolen) if you don't put in $500 within a certain amount of time. Apparently I didn't do it within their arbitrarily set deadline, and now my account is closed, my money nowhere to be found. Unless you're Moneybags McGee, and know a bunch about investing, and e*Trade in particular, stay away from this thing.
-Would give zero stars if possible. Any other investing app (that was made in this century) is easier to use. Look for literally anything else.
Etrade will milk you for every penny they can. They will also hold onto your money for as long as they legally can in order to use it for their own benefit. I have used multiple trading platforms and etrade is the worst out of all of them. Stay as far away as you can...
eTrade expert 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.
Best for: E*TRADE has tools that make it a best choice for all types of investors.
e*Trade Company Information
- Company Name:
- Year Founded:
- 1271 Avenue of the Americas, 14th Floor
- New York
- Postal Code:
- United States
- (800) 387-2331