E*TRADE

E*TRADE Reviews

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About E*TRADE

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

E*TRADE is an online broker of investment trading. The company offers investment accounts for individual investors and small businesses in the form of stocks, mutual funds, futures, options, bonds, CDs and prebuilt portfolios. In addition to individual online trading, the company offers portfolio management services for an additional cost.

Pros & Cons

Pros
  • Educational materials
  • Online platform and mobile app
  • Commission-free options
Cons
  • High broker fees
  • Limited local branches

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E*TRADE Reviews

Stars Rating

  • 5%
  • 9%
  • 4%
  • 13%
  • 68%

Popular Mentions

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    Page 2 Reviews 10 - 40
    Customer ServiceStaff

    Reviewed April 27, 2024

    I previously left another review regarding E*trade's awful customer service. Well, they finally called me and told me we’d have to call Citi Bank for them to verify the bank transactions in order to reinstate my account. Keep in mind the reason it was suspended was because a $13,000 deposit didn’t go through, I have since made an $18,500 deposit which did clear and has been withdrawn from the bank. You’d think that’d be all the proof they need right? Nope. The rep makes me call Citi bank 10 different times all of which we fail to get connected to a rep. The E*trade rep tells me we’re going to call again to which I tell him, no, I’m not going to sit here and keep calling Citi and getting nowhere.

    You already have proof that I had the funds in my bank, so talk to a higher up and take care of this. He said there’s nothing he can do and that we have to call Citi bank. I told him please withdraw my $18,500 then because I’m not doing that. He said no withdraws can be made until we call Citi. E*trade is literally in the process of stealing $18,500 from me.

    Customer Service

    Reviewed April 26, 2024

    I have spent hours on the phone with customer service trying to get this corrected. If my stock investments tank then I can't even sell. Why can't we team up and file a class action lawsuit against ETrade. I'm retired, I have the time. I'll help head it up. This really calls for legal action.

    Stan The Man

    Customer Service

    Reviewed April 10, 2024

    This is one of the worst service I ever received from E*TRADE. There is an account restriction status, I have provided all the required information and it is been pending for the past 5 months. Nothing is being done in this issue. Every time I reach to customer service they ask me to call after 3 to 4 days. Nothing will be changed in that 3 to 4 days. There will be no update what is going on with the account status, nobody knows where it stands, when it will be resolved, how much time it is gonna take. Why the hell do you have the customer service and why do you have this 401k service. I am going to close this account and will move on to new provider. I would never recommend Etrade to anyone in my life.

    Customer ServiceStaff

    Reviewed April 3, 2024

    I went to E*Trade to set up accounts for a trust. They have great savings account rates, but they won't let you open one for a trust. OK. I set up a personal savings and have had no problems. I also tried to set up a brokerage account for the trust. That didn't go as well. Despite assurances that it would be open within a week, seven weeks later it was still not functioning. Customer service is terrible. Some reps are helpful, some are making it up as they go along. When more information was needed, they didn't contact me, they just waited for me to call in and find out why they hadn't done what they said they would. (This happened three times.) In one instance, I had sent them what they needed, but whoever received it didn't know what it was and failed to attach it to my account--despite account-specific, secure messaging.

    Finally, after the account was open and I made a deposit, they froze my account until I verified (again) who I am and where the money was EFTed from. It's shown on the transaction list! And I could only unfreeze the account using my phone, not my computer. I told them I don't do finance on my phone. The rep told me that's their policy and they can't change it. I asked to speak with a manager. He told me company policy says no customer gets to speak with a manager. I set up a trust brokerage account with another reputable company. It took them 48 hours. Goodbye, E*Trade!

    Reviewed March 27, 2024

    A nightmare from HELL!! After our father passed it took us over a year and having to hire lawyers to get his money out of Etrade!! They really don't care and are excellent of giving you the runaround. If you have investment accounts MAKE sure that you have EVERYTHING in place for your beneficiaries. Also really make sure that you have done their paperwork for beneficiaries otherwise you will be hiring lawyers to get your money from them. DISGUSTING.

    Customer Service

    Reviewed March 26, 2024

    We had been E*TRADE happy customers for over 20 years until the last 2 years! Not sure if this is coming from Morgan Stanley acquisition but we are evaluating closing ALL our accounts with them. Their customer service is the worse! Twice they have frozen our accounts because or unusual activity and they do not call or anything! EVERY OTHER MAJOR BANK CALLS THEIR CUSTOMERS WHEN THERE IS A FRAUD ALERT. We instead find out the hard way when we see that the accounts cannot be accessed because they froze everything or any payments are being refused from our regular payment commitments. Last time they did not even recognized the fees we had to pay because of their MISTAKE! Seriously, this is unacceptable. Travis ** - refused to even put a note on the account to note that we will NOT PAY for any fees again. Shame on etrade and shame on Morgan Stanley for having such a terrible customer service!

    Customer ServiceStaff

    Reviewed March 14, 2024

    Used to Love Etrade. Ever Since Morgan Stanley bought Etrade (both the bank side and brokerage) they turned to crap. Where to start. They closed Etrade managed accounts and transferred them to Morgan Stanley. Outside the mess of not having a log in and spending hours on the phone with them, now I'm told the Tax records aren't exportable since it's a closed account. Way too many unresolved issues with the merger and a clueless customer support staff.

    Customer ServiceStaff

    Reviewed March 12, 2024

    At E*TRADE's request in written correspondence I received in April 2023. I voluntarily closed positions in my account and withdrew funds because they indicated they had elected to close my account (I believe they did this in retaliation for my moving my retirement account to Ameritrade). I assumed my account was closed. When I did not receive my 1099 consolidated form by Feb 15, I went to E*Trade website and attempted to login. I could not, the system indicated I was not recognized. I called E*Trade on 2/23/24 and found the account was still open and limited to withdrawal only. There was still a fractional share in the account. I indicated I could not access the account and requested that my tax forms be mailed to me. The attendant indicated she put in a request and it may take 10 business day.

    On March 4 I called to check on status, there was no indication forms had been mailed. The attendant indicated she would put in a second request for tax documents. On March 8, I called for a 3rd time and there was still no indication forms had been mailed. I was forwarded to a supervisor, Tony, he indicated they will put in an “expedited” request and he would get back with me the next business day. He didn’t. While an expedited request has allegedly been placed to send me my tax documents I have little faith I will receive these documents. I have now had to delay a scheduled meeting with my tax advisor. I have filed a complaint with FINRA and the BBB because I am at a loss why I am having to fight with the brokerage to receive documents which they are legally obligated to provide me.

    In addition, E*Trade has never paid my funds due for the fractional share sold against my account. While we are talking $1.62, it is still their fiduciary responsibility to send me funds owed regardless of the amount. The trading platform is fine, I prefer Ameritrade, but since Morgan Stanley took over, E*Trade’s customer service really gone downhill. I recommend using another brokerage.

    Customer Service

    Reviewed Feb. 28, 2024

    If you want to waste your life figuring out their IT, not getting access, trying to get customer services and developing an ever-growing feeling of despair, then E*TRADE is the one for you! Everybody else should swerve them! Two weeks of trying to get access after getting a new phone! TWO WEEKS! Customer service is non-existent!

    Verified purchase
    Customer Service

    Reviewed Feb. 3, 2024

    I have been an active trader at E*TRADE for almost 30 years. Obviously, I like the brokerage. But in the last 9 months there have been several customer service failures. It was great in the first 29 years. I only had one trade I thought they bungled, but it was partially my fault too. I have bought stock, options. Sometimes complex options like spreads and calendars. worth tens of thousands of dollars. But recently they would not approve an account for the simplest option trade level for over 2 months. They also locked me out of one account, simply because my answers to a trade questionnaire did not match a previous set exactly. This was some kind of security measure. Dumb. Then they claimed I declined the request. Also dumb. Ever since Morgan Stanley took over, it has really gone down hill. Avoid!

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    Sales & Marketing

    Reviewed Jan. 25, 2024

    I have been a victim of this dangerous scam, I lost everything, I never received a penny back from this platform, due to the shock I fell sick for a couple of weeks and couldn’t think right. Had to see a therapist due to the anxiety and shock. After some time when I was getting back to normal I began carrying out research on solutions in possible ways to get my stolen funds back from the scammer then came across The SWIFT Chargeback, Org when all hope was already lost. The dedication and expertise when handling the fraud case was very remarkable, open communications helped me recoup a substantial part of my stolen money back.

    Customer ServiceStaff

    Reviewed Jan. 24, 2024

    Please do NOT use this company. I have struggled nearly a month to move my funds to my retirement account. You call everyday, some one will come up with a new paper work every day. Each rep says different answers.

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    Customer ServiceStaff

    Reviewed Jan. 18, 2024

    Can't get anyone interested in my issue. They just tell me to do something and then call back. When I call back you can't get the same person so I have to start all over again with my story. And each time I can back it's 20-30 minutes to get through. My account has been messed up now for 3 weeks. Wrote a letter to corporate and never heard from them so I guess they just threw it in the trash can. Consequences.

    Reviewed Nov. 21, 2023

    They will steal all of your money. One day I logged in and it showed that the thousands I had invested were gone! Shows they were sold last week and I sold nothing. Called E*Trade & they tell me they took it all for maintenance. Total joke and thieves!!

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    Customer ServiceStaff

    Reviewed Nov. 14, 2023

    Switched my accounts from another brokerage right before E*Trade was purchased. Took me 3 months to get all of transfers done and money was lost in the system during the transfer which they left it up to me to find. Told originally it would be two weeks total. Employee I worked with originally was laid off and had to start over again. Finally got a supervisor who helped after about 3 hours on the phone and 9 calls. Currently locked out of accounts due to their computer problem and as usual wait is over 20 minutes to get someone on the phone to help. DO NOT switch to these people for any amount of money. I had Scottrade then TD and was happy but I bit for the payoff to move and have regretted it ever since. I will move my funds out as soon as I can.

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    Reviewed Nov. 1, 2023

    I've had an E*Trade investment account for nearly 15 years. I transferred my account to Schwab because Morgan Stanley has a long history of predatory practices. True to form, E*Trade Morgan Stanley charged me $75 to transfer a $250 account. They refused to waive the fee and demonstrated zero concern for what anyone thinks about it. Expensive lesson re-learned about dealing with Morgan Stanley, except that this time it wasn't my choice, as yet another big fish swallowed a previously good little fish, and everybody else got screwed. Yay for American capitalism.

    Customer ServicePriceStaff

    Reviewed Oct. 6, 2023

    I've had a brokerage account with ETrade for almost 10 years. 2 years ago I clicked on a suspicious link and was concerned that I could jeopardize my account so I had ETrade close it and open a new one. In doing so they inadvertently omitted my middle name. After this I was restricted from purchasing stocks or moving money out of my account. They told me that I needed to show proof of a name change, but since my name had never changed, I could not produce documentation to show a "change" in name.

    Recently I sent proof of my full name to a representative who was able to update the account to reflect this however, when I tried to transfer my account to another institution (my husband and I are consolidating our assets and we are trying to secure a mortgage, having certain amount in assets will lower the interest rate), ETrade would not allow my account to be transferred stating there was a security restriction placed on it. I received notice of this on September 8th, so I called them explained that time was of the essence (due to the pending mortgage), and was assured the account restriction was removed and that the transfer should go through.

    Following that the bank made several attempts to pull the stocks over but to no avail they kept getting the same notice that there was a restriction on the account. I have since followed up with 17 additional phone calls to ETrade on numerous occasions, wasting nearly 7 hours of my time on the phone getting the run-around, stating either they are unsure why the transfer team is restricting the transfer or that they are escalating the issue and it will be resolved over-night or 24 hours, or that it will take 1 to 2 days but after each call I wait out the time frame only to find that the transfer is not being processed.

    The last call I had where I spoke was someone was yesterday with a manager who could not help escalate the transfer so I asked that he forward my call to his manager, who then proceeded to hang up on me before even speaking to me, I was given his extension so I called again, he hung up a 2nd time then the third time he let it go to voicemail, I left a message and am still waiting for a call back. Today I called 4 times, he hung up without answering the first 3 times then let it ring to voice mail on the 4th time. Stay away from ETRADE, their unethical practice of holding funds hostage seems to be a common practice for them. Their mistake becomes your problem and to boot, their unhelpful representatives will hang up on you and duck your calls, so unprofessional!

    Customer Service

    Reviewed Sept. 29, 2023

    They accepted deposits but No withdrawals, froze my wallet for no good reason, can you imagine?. All of my bitcoins trapped for months, their customer service never responded to a single email from me! No one to call or talk to, such lack of integrity, I can't imagine how many innocent people who E*Trade has swindled, I came across HIGHFORESTCAPITALLTD.COM and with their assistance, I got back my $79k investment.

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    Reviewed Sept. 25, 2023

    I have been trying to transfer my money from e*Trade to the financial advisor handling my retirement account I have at BMO for at least 5 months. (Now that I'm retired, I've consolidated all my money to 1 account.) I've filled out the application they said was missing in June, 3 months ago. They are still "reviewing" my request. The SEC is now involved. They contacted them twice and still my transfer request is being denied. I would leave 0 stars if I could.

    Customer Service

    Reviewed Sept. 15, 2023

    Made my initial and only investment in 2018 and left my account in what I thought was "good hands". Went online this year (2023) to make an investment and learned my account had a "Restriction" on it that prevents me from accessing my $. Spoke to customer support 6/16/23, 6/29/23, 6/30/23, 7/05/23, 7/14/23, 7/25/23, 8/15/23, 9/08/23, 9/15/23. Jumped thru all their hoops, told I needed to "REPAPER" account, did so, told I needed to re-verify bank, did so, and now 3 MONTHS LATER - STILL CANNOT GAIN FULL ACCESS TO MY ACCOUNT. Called Morgan Stanley on 9/15/23 and they advised they cannot access E*TRADE. ***DO NOT USE E*TRADE!!**

    Verified purchase
    Customer ServiceStaff

    Reviewed Sept. 7, 2023

    I have been a customer over 10 years and I've noticed that over the last couple of years, the service department has been getting progressively worse. My most recent experience is a relatively simple request to consolidate a separate account of my wife's under my log-in. The main problem with E*Trade is that their customer service personnel cannot speak directly with the back office operations department. They can only email. I have spoken with no less than 14 people, including two supervisors and the research department, spent over 6 hours on the phone, and they still can't figure out why the back office keeps rejecting the request. Every time I call they promise to escalate and/or follow-up, but only 2 have and neither had good news. I frankly can't figure out how they manage to stay in business, and having Morgan Stanley purchase them certainly hasn't helped the situation. My advice, run away! Run as fast and far as you can!

    Punctuality & SpeedStaff

    Reviewed Aug. 2, 2023

    I have been a long term customer of E*TRADE. However, of late, there have been so many issues. I have recommended numerous clients of mine to Etrade. However, I am forced to take mine and my client's business elsewhere. They are not the same. They are arrogant and high handed. Time to find an alternative.

    Customer Service

    Reviewed June 19, 2023

    Since Morgan Stanley took over E*trade, I have had issue after issue. The glitches, where I keep being taken to the wrong section, when I try to access personal investing vs. retirement are bad enough but now I'm locked out of my account completely after about 6 years of no prior problems. I can't get into my account, so I was on the phone trying to set up security (which is really "information gathering") and the associate was very nice. I sent my official ID through cyberspace (not something I like to do) and she supposedly set up access to my account. I'm able to access it twice and now I'm locked out again. They have very "limited two form authorization" (no email, no landline call (which my bank allows), only password and personal cell phone). The syntax they sent me failed to work and it seems my security questions did not set up.

    I'm being told I need to spend another hour on the phone sending my ID through cyberspace, etc...because they don't have their system roll out ready for prime time. They have no options for people who share a cell phone like I do with my husband. Cell phones (EMF waves) give me a headache. So, here I am leaving a review on how I have been locked out of my account again. Will I ever be able to continue access to my account without unexpected, random lockouts?

    I feel it might be best if my husband and I take our savings and retirement and move it to some place where we can actually have 24 hr., unhindered access to our personal accounts...Pretty important! I feel upset at this point because one thing a bank should never do is keep a person from being able to access their account or account status. Locking us out of our money is not OK for any reason...especially when we are a long-time customer with a lot of history and never any problems.

    Customer Service

    Reviewed June 1, 2023

    I have never dealt with a more difficult company. I was using a new browser that needed a 2nd verification code for me to be able to get into my account, even though I provided the correct username and password. They were trying to text a 2nd verification to my home phone. I called and asked if they could give me the code over the phone. Of course, they could not. They wouldn't email, even though I have an email address on file. I was on the phone for 52 minutes trying to get a code to get into my own account. I gave my address and my employee number but because I didn't know the exact day of my hire date 22 years ago (I gave the month and year correctly) I could not get a code. While I realize online security is a must, I feel this went a little over-the-top. I am certainly going to look into transferring this money into a different account and will hopefully never have to deal with this company again.

    Customer ServiceStaff

    Reviewed April 12, 2023

    My mother had $20 remaining in her account for many, many years. They never bothered to refund her money. How many millions of people do they screw in this way and how many millions or billions do the fat cats at the top of the food chain make from this unconscionable behavior. So far I am on my fourth call to try and retrieve this money. First they have to close up her account but they can’t do it that day. Then they can close it up the next call but it will take a couple days to open it up. I call to open it up but that will take a couple days to get the money out. I call a couple days later they say it is not open yet. On this latest call I am on the phone so far for 25 minutes and counting waiting to speak to a supervisor.

    Do not deal with this horrific company. They are really slimy beyond belief. I don’t give a damn about the $20 but will not let them win. They are counting on people giving up. The majority will give up and they win. A minority will fight it and then give up. They win. A small percentage will fight it and not give up. It’s a good money maker but incredibly slimy.

    Customer ServiceStaff

    Reviewed March 14, 2023

    I used E*Trade for about 20 years, maybe more, but I finally had enough and left. My experience was positive for most of that time, but in the past six months things went downhill badly. I had access to their "elite team" for allegedly superior customer service, but even that became dreadfully poor. They failed to provide timely notice when a check I deposited bounced, there are incredibly long hold times and service reps who are not properly trained, and I found far too many bugs in the website, app and general corporate operations. The E*Trade point of contact assigned to work with me was kind but often ineffectual and failed at basic tasks like putting up an auto responder when he was out of the office, so once I didn't hear from him for over a week after I reached out.

    Customer Service

    Reviewed Jan. 31, 2023

    Claimed I'd get "white glove" service for being with them for over 14 years and having a very substantial balance. Instead, Louis ** and 5 other operators confirmed that I can't take money out of my account on-line...only put money in because I have a credit line. Their tool to pay down the credit line was broken, and the "direct personal advisor" I had quit with no replacement, so literally there was no pay to pay down the credit line without eventually waiting on the phone for an hour. Look elsewhere.

    Customer Service

    Reviewed Jan. 11, 2023

    I am helping put a class action suit… I am helping put a class action suit together against eTrade for the practice of conversion among other deceptive practices of locking customers out of their accounts and not giving them any recourse to access their funds for months and in many cases years. Often time eTrade will lock an account even after being provided with numerous forms of identification. Often refusing to disclose to their customers any explanation. If you have been a victim of eTrade's deceptive and likely fraudulent activity please respond with the the experience you have had and the amount in question.

    Do not transmit any account information just transmit the complaint and how the issue has been handled, your name, phone number and email you can be contacted at. I have been a victim myself and have relatives that handle this type of litigation. From what I have read on these boards the issues are widespread and ripe for action. Send your complaint and name, email and # number where you can be reached to **.

    Customer ServicePrice

    Reviewed Nov. 8, 2022

    Lost >$500K with E*TRADE. Have been trying to wire transfer my money for more than week and nothing has been done. Worst Power E*TRADE and E*TRADE Pro trading apps where you can buy securities and would not know what price you will get when you sell. One time I have to restart Power E*Trade more than 5 times to close my position. So many problems with their apps and nobody listens to you when you bring the problem to their attention. Horrible, Horrible experience including you are being told a different story each time when you call.

    Customer ServiceOnline & AppStaff

    Reviewed Oct. 24, 2022

    I have traded futures, options and equities with eTrade. 2 weeks ago, I put in a trade on the app and the price hit the limit price and the open order was removed from my orders, meaning the order was executed and I should have had the position in my portfolio. However, the position was not there. No open order, no position, but the market was moving and the losses on the account was appearing on top of the screen. This lasted for a few minutes before the position appeared in my account and I closed the position. The same day it happened to me on eTrade's regular website and I called eTrade customer service. They connected me to the futures desk and I explained the situation. The agent told me that this probably happened because of a temporary issue and shouldn't happen frequently. I tried to explain again that it makes one hesitant about trading when there are system glitches. He said it shouldn't happen again and this part ended.

    Last week on Thursday evening, I placed a few orders and closed them because I don't like to sleep with the stress of an open position. Before going to bed at night, I checked all the open orders and current positions on the eTrade app, as I do every day. Open orders in my futures account were blank and so was the positions tab. I went to bed. Next morning I woke up and when I looked at my phone, there was an open position in my account which was losing value. I closed the position immediately and called eTrade. I was connected to futures desk again and explained the situation.

    I told them I had an issue with the app the week before as well. He asked me why I was trading on this app if I don't like it. I asked for a refund for the lost amount on this trade, the amount I lost because of the system glitch. Later, I was told they didn't find a system issue and they would not refund my loss from this particular trade. I always own up to my bad trades, however for this one I feel like eTrade stole from me. I hope other people who have had similar issues come out and we can bring this to the attention of public.

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    E*TRADE Company Information

    Company Name:
    E*TRADE
    Year Founded:
    1982
    Address:
    1271 Avenue of the Americas, 14th Floor
    City:
    New York
    State/Province:
    NY
    Postal Code:
    10020-1302
    Country:
    United States
    Website:
    www.etrade.com