Thank you, you have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.
A link has directed you to this review. Its location on this page may change next time you visit.
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...
I have only had accounts with e*Trade banking for two months and have already had one or more accounts frozen three times without explanation or warning, just failed card transactions in checkout lanes. In NO case was there ANY problem with the account, monetary balance, or my actions. Suddenly the computers decide there is something they don't like about a transaction, even deposits, and the accounts get locked. Even on weekdays, it sounds like I'm talking to someone in India, and I can never get to a supervisor. It took a lot of work to get Social Security deposit and online bill payments set up, but I'm checking into other banking options now, as e*Trade is customer UNFRIENDLY, all in the seeking of no losses on their side. HORRIBLE BANK.
- 2,204,041 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
For more information about reviews on ConsumerAffairs.com please visit our FAQ.
I placed a 4 legged trade and their software stated my max loss is 79 bucks. Well, that was bogus. I lost several hundred bucks due to their mistake. I have been asking about my cases for weeks and they will not respond back to me. Their software is wrong and it is place to take your money. Very simple. Do not touch this software e*Trade if you want to make money.
E*trade works against their own clients by selling their Retail investors information, regarding which positions are being held, short or long and avg price paid. Then whoever uses this information to either short, squeeze, or run up the securities that retail investors are in, to get the retail investor to sell, short their position or try to get the retailer to buy more, as they sell or short that particular security. E*trade is not your friend.
I have been an e*Trade customer for over 20 years. For the most part they have been great, but where a huge whole in their service has developed is in their debit card fraud protection. In December of 2017 I had a person in another state make an ATM withdraw for $500.00 (even though I still had my atm card) and then attempt to make a second withdraw. When I noticed the transaction I notified e*Trade who then cancelled my card and told me they would have to investigate the transaction which could take up to 90 days. They returned my money after about a week (almost any other bank will return your money to you the same day), after a month they approved the claim.
Now this has happened again, this time e*Trade alerted me of the suspicious behavior after 15 Target.com purchases were made out of state. I called them to confirm that these purchases were not mine. This time they are not as willing to return the money to me which has totaled over $700.00. I am told that it may take 90 days before they can approve the refund. The first problem is that even though you use their chip in the debit card for purchases, people can still steal your information and duplicate your card. The second larger problem is that they don't seem to care that you lost your money and are unwilling to refund you anything until after they can prove that you are not lying to them.
I will never use my debit card from e*Trade again and will be closing all my accounts. After I had the first issue in December of 2017 I had opened up a Chase account and explained them how e*Trade handles their fraud claims, they couldn't believe how non-customer friendly it was and assured me that I would have immediately gotten my money back. I have been using my Chase card the same as I was using my e*Trade debit card and have never had a problem.
So I have been with e*Trade for a long time, and I have level 4 options trading and am very familiar with how it works. So today I placed an options trade with 45 mins left before expiration. About 20 min later I went to close the trade for a $600 profit and got a message that said I didn't have enough contracts in my account to execute the trade. I checked and realized that a trade had been executed 5 min earlier for those options contracts resulting in a $900 loss for me. I called e*Trade up immediately and they said their computer algorithm closed the trade out because it was getting close to closing, even though there was 20 min left and I had just opened the trade. I have traded options right up to the closing bell before with no issues.
This is insane. Why would they let me open the trade 10 min earlier only to close it without my permission and screw me. I knew exactly what I was doing, and wasn't allowed to complete the trade even though there was still plenty of time left. All I asked is that they refund me the 900 In losses that they had intentionally caused me, and not even the $600 I should have gained when I clicked the button to close the trade. They didn't give me any legitimate explanation as to why this occurred, and basically told me to go screw myself. I have paid e*Trade over $6,000 in commissions over the years and this is how they treat me. All they did in the end was refund the 2 trade commission fees for the trade (1 of which was for closing the trade without my permission). I guess it's time to move my money elsewhere.
I switched my stock trading account to e*Trade. Their trading platform is good and their handling in opening the account was satisfactory. Then the problems started. Their trading website would go down all too frequently for me. Moreover, I had to call their customer service department three different times in order to get the credit for free trades and the cash bonus for opening a new account. I once received a service call from Utah and was not home and they did not even bother to leave a message. Frankly speaking, I have little confident in this firm to act professional and discharge their obligations. There were too many ongoing issues with this business to conduct a long term relationship. Their commission rates are low and competitive but their people skills are very poor
e*Trade Company Information
- Company Name:
- Year Founded:
- 1271 Avenue of the Americas, 14th Floor
- New York
- Postal Code:
- United States
- (800) 387-2331
Keep an eye on your inbox, the latest consumer news is on its way!