||E*Trade - User Opinions and Reviews
"I have been with E-Trade since they bought out Harris. Their website and tools are a big improvement. Their customer service sucks. I have been patient but they have been consistently bad. Their latest error cost me real money. I had a trailing stop order on GS that they say triggered on a bid price that was $3 below the lowest execution for the day. They said it was 'strange but that it was one of the risks of trading'. These guys are crooks. Time to move my account!"
Shree Khare - California, USA (Oct-2006)
"You need to be smart, Etrade has some of the highest rates in the nation and they have a 1K requirement, most other banks make you have 10K or higher to even get the rate if they even offer it... most of the time they don't! The fact that you don't know how to send and email to request funds or call in during non busy hours is your fault. Be real lady."
John Davis - California, USA (Oct-2006)
"You are an idiot... are you familiar with the patriot act? It requries all brokerage firms to check your info with a credit reporting agency... the fact that you traded on the account has nothing to do with etrade. The difference between Etrade and another brokerage firm is that they don't require you to provide photo ID when you open the account becuase you open it online... they are required... By law... to restrict your account before you can have access to it. You can also have them send you your funds... Get smart."
John Davis - California, USA (Oct-2006)
"E-Trade Pro has a bad problem with the level 2 windows in Pro. This has persisted for a very long time. When typing in a new symbol, the level 2 window turns a blank color with nothing. It freezes up. I have missed getting into many trades and had to wait for the window to unfreeze. By then, it is too late, as the price has already gone up. When are they ever going to fix this? Also, sometimes when trying to get into or out of a trade, I get a pop up window that says; 'error, call broker'. Yeah right. I am a momentum trader who plays highly liquid stocks that move very fast with huge volume! A momentum trader cannot do business like this. What a joke! Am now considering moving my money to one of the brokerages in NYC that caters to institutions and hedge funds mainly. I need the quickest executions with no breakdowns in the trading platform. Anyone else experienced these same problems with E-Trade Pro? And is it going to be a real hassle to move my money out of E-Trade?"
Larry Jones - New York, USA (Oct-2006)
"This is a request for some help in my plight with eTrade from some of the other people that have had issues with ETrades poor service. I first requested 5 months ago to cancel a check that was issued by Etrade and have the funds returned back to my Etrade account. As of today, I still have not had my $35,000 returned back to my account for my own use and Etrade has not confirmed that they have located my money in their systems, nor have they given me any firm timeline when the funds will be returned, despite repeated e-mails and expensive phone calls (internationally). It's been 5 months so far with no end in sight. What are my options here? How can I make Etrade find my money and return it. What type of compensation should I be entitled to? My situation is made more complicated because I am not living in the US nor am I a US Citizen. I worked for a US company and my stock options were made available in Etrade US based business, so I am forced to deal with them to get at my stock options. Is there some sort of Government body in the USA that can enforce compensation on financial organizations that are so negligent in their handling of customers funds? Has anyone had any success in pursuing compensation from Etrade due to negligent handling of funds? My wife and I are at our wits end with this company. If anyone can assist please reply to this post."
Philp Christopher - Victoria, Australia (Aug-2006)
"E-trade is a complete joke. They allowed me to transfer money into their accounts without needing photo ID verification, but once it was in there, they suddenly decided they needed it... effectively holding my cash funds, citing the 'patriot act' or some crap as the reason why they took my money and wouldn't allow me access to it for over 2 weeks."
Sayer Ji - Florida, USA (Aug-2006)
"Avoid E*Trade! We had several negative experiences with E*Trade Financial. First, E*Trade ignored several of our change of address requests. It took several months before E*Trade and their third party vendor, Clarke American, stopped sending our account materials to the wrong address. These materials included our PIN numbers, ATM cards, and checks. The other negative experience was with E*Trade's online bill pay system. E*Trade issued payment a day later than scheduled and, as a result, we were assessed a hefty penalty fee of $250.99 for the late property tax payment that E*Trade caused. After several phone calls and ignored faxes, we spoke with one of E*Trade's branch managers, Amy Alley. She was very unprofessional and rude for the entire conversation. E*Trade refused to cover the fee caused by their negligence. That was the final straw for us. We're in the process of switching our accounts to another institution. I wouldn't recommend E*Trade to my worst enemy!"
Deborah Glenn - USA (Jul-2006)
"Generally E-Trade can be a very good place to trade. The trade executions are accurate and quick and the website is very intuitive and comprehensive. I wish I could refute the generally bad sentiments about their customer service. Alas, I can not. There are several reasons for most bad experiences there. 1) They are not able to hire the best candidates across the board, because the salaries are very low. 2) They often get employees who just want a job and are not committed to the industry. 3) Many customer service reps are unlicensed. And, if they are licensed, very very inexperienced. 4) Good reps tend to leave after obtaining licensing for better situations. 5) Generally, the job is very stressful, the employees are not treated well, and turnover is very high. There are other reasons for the bad experiences that don't fall on E-Trade, though. Sad to say, many investors are not aware of the rules surrounding what they want to accomplish (compounded by reps who don't know either). And, many clients do not read the ample information present on the site. So, it goes both ways. My recommendation is to learn all you can about the industry, trading, and administering to your own account. Once that is done, you'll find that your experience will go smoother. And, when you meet up with a "know-nothing rep", you'll know and can ask for someone a little more experienced (ie. competent). (ex-E*Trader)"
G - Georgia, USA (Jul-2006)
"Let me sum this all up! E-Trade is f***ed up! Too many fees!"
Raymond - USA (Jul-2006)
"Because of poor service, I have repeatedly told ETrade to close my small account and refund my money. They have repeatedly ignored my directives. Perhaps they do not want to admit to a declining customer base. Anyone else have this problem?"
Philo Willetts - USA (Jul-2006)
"Etrade wiped out my account to pay for negative balance of fees for over 4.5 years. No notice was sent to me, just sold my stocks and left me with -0- balance, called Shandra Baker manager at Etrade, said they would refund one 1/4 if kept account opened and deposited $1,000. No notice, no calls, account wiped out."
Frank - North Carolina, USA (Jul-2006)
"Inquiry: Polling to see if anyone else has experienced an inactive E*Trade account/brokerage account suddenly being submitted for an unauthorized change of address and then unauthorized withdrawal of funds via internet: Funds stolen? Had an E*Trade account resulting from the death of my son's father. As executor of the estate, E*Trade transitioned the account funds to me. Come to find out they apparently (?) did not open a new account for me and did not change the old internet password on the internet account. Sentimentally, and with intentions to later work with my son on investing his daddy's monies, I left the funds with E*Trade as a brokerage account. Moved, submitted a change of address and continued receiving statements at my new address. Several months later, get an E*Trade notice the address is changed again (was not submitted or authorized by me). Absolutely could not get through to their customer service! Hours and days worth of trying. Sent E*Trade a letter notifying them something was wrong. Never heard back. ~1 month later, get E*Trade notice the funds were transferred out of the account--zero balance! Spent hours and days trying to get through to E*Trade customer service! Finally, get through and after numerous rounds and attempts to escalate had to settle for a supervisor in customer service. They absolutely refused to allow me to talk with their Fraud Department! Long story short, finally, after a huge, extended effort, I get E*Trade to reimburse me the funds; demanded they send me a check and close the account. The supervisor I was working with goes so far as to 'record' my instructions to close the account. Supervisor was telling me the matter would be turned over to E*Trade Fraud for investigation. This closure was fall/winter of 2005. March 2006, E*Trade contacts me demanding I return the funds to them! Unbelievable. I spend hours documenting this situation, corresponding with them. Only to have them send me on a 'goose chase' to report identity theft. My identity has not been stolen, the funds in my son's inactive E*Trade brokerage account are what was stolen. Has anyone else had a similar situation occur with an inactive E*Trade account? Please let me know."
Courtney - USA (Jul-2006)
"There are thousands of us with restricted accounts. Even if you fax the document you will not be unrestricted. They claim that the fax didn't get there etc. I filed a complaint with the SEC and also my state attorney generals office. I truly believe they are running amuck unchecked. Now they have acquired a retirement fund. Those poor old people will be robbed or driven nuts by the E-Trade people. I am in my 3rd week with this problem, I have been a customer for 5 weeks and this is the 3rd problem they cannot resolve. Good luck but take action, the SEC can be found online and provide email doc."
Gary Tolman - Arkansas, USA (Jun-2006)
"E-Trade randomly closed my account in Oct 05! I executed a sales from that same account in March 06, no problems, on an allegedly closed account this seemed rather odd. I try to execute a sale in June 06, the account is empty - my stock options have vanished. After much phone wrestling to get the options back they want me to apply for a new account, fax (Fax? What year is this) the document to them so they can open my old account. They are talking to me on the phone and have verified who I am but they still want paperwork that they had years ago. Apparently this is because the account has been dormant since Oct 05 lies lies lies, it was used in March 06. I got pissed off, sold at market over the phone and closed the account. This is one of many problems I've had with E-Trade - e.g. they took 4 months to send a check book for one account - they truly suck."
Geoff S - Washington, USA (Jun-2006)
"When is this web page going to help all these people congregate to form a class action lawsuit? Duh!"
Kent - Colorado, USA (Jun-2006)
"E-Trade is absolutely dreadful in terms of customer service. If you want to spend hours listening to muzak on the phone and then have your assets eaten up by fees, by all means go with this company."
Gil Abraham - Arizona, USA (May-2006)
"3 years with a great on line broker Harris Direct. And then they were bought out by the worst brokerage firm in history E-trade. I lasted 45 days with E-trade and could no longer stand it. I switched to Fidelity. E-trade must have felt guilty because they paid me the $300 to transfer my accounts. Take your business to anyone but E-trade."
Edward Wallach - Delaware, USA (May-2006)
"Never banking with E-trade. Stay away from it. I have been calling them since last Monday (Called 5 times already) to transfer money from E-trade bank. I am calling them again now, have been on hold for more than 20 mins. I had a brokage account with E-trade, it went well these years, so I decided to open CD account with them last year, it is a terriable mistake. If you are reading now, please take my advise, stay away from E-trade bank. The other banks may have same CD rate or lower, you don't have to deal with this kind of bank."
Christine - California, USA (Mar-2006)
"I opened IRA account with E-trade, now they say my account has been restricted after they have taken my money and I have already made trades. They say I need send to copy of photo ID which I don't have and don't want and that their was no mention of needing. The weird thing is I have had a brokerage account with them for several months with no problems."
Matt - Missouri, USA (Mar-2006)
"Worst horrible nightmare. Even though I have investable asset of almost $100K, I had to wait on the phone for over an hour for a customer service rep. to talk to. Stay away from this broker."
C - California, USA (Mar-2006)
"E-Trade engages in consumer fraud. I wish I had read this page first. Been a customer only two months, and I could write a page on what they have pulled with me. The main highlights: Promises 100 Free Trades.....does not deliver. Misappropriates money for 2 weeks, not allowing you access (they sit back and make interest). Customer service: horrible!"
Scott - USA (Mar-2006)
"Hold time can be up to 1 hour. Account fees left and right. Customer service sucks."
Raj - California, USA (Feb-2006)
"I have asked E-Trade for the deposit slips for one of my accounts. Since then, almost two months have passed, and after having spoken twice with them on the phone (25 and 45 min waiting time) and sending them two e-mails I still did not get deposit slips! They do not want money of their customers! What kind of an investment company is this? Who is talking about customer service here? non-existing service."
Igor - California, USA (Feb-2006)
"Totally disgusting customer service - beyond belief! They cash a deposit check within 24 hours, yet take up to 2 weeks to credit my account. They send me a notice that 'your old checks have expired' yet require that I request new checks instead of automatically sending me new ones. So now, 4 weeks later, I cannot access my funds. I am on hold (once again) right now for over an hour (this is the third time this week, and I've had to hang up because I have other things to do). How difficult is it to change to another brokerage? Fees involved?"
Jim Figler - Maine, USA (Jan-2006)
"Yes, E-Trade are total shit. It's good to see US guy giving info. I know your used to some customer service at least."
Michael - United Kingdom (Jan-2006)
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"My E*Trade funds were placed in 'a money market account' and assigned an account number. Without notification, E*Trade changed my account number. I made numerous attempts to access my account over the internet, but failed. As a part of the nightmare, I called E-Trade's customer service. After struggling with being on-hold, disconnects and language barriers, Customer service couldn't locate the account either. I located the nearest physical E-Trade branch, to discover a new account number had been assigned to the account and E-Trade had been assessing $25.00 to $40.00 quarterly deductions, depleting the entire account."
Cavender - Texas, USA (Jan-2006)
"I'd have to agree with the many sentiments expressed here - E-Trade is pathetic. After getting sick of them milking $40/quarter in 'maintenance' fees out of my inactive account, I finally decided to close the account in Nov 05. There is absolutely no way to close the account online, you have to call and sit on hold for 30-45 minutes. They stuck me with the completely unreasonable $10 check fee of course, just to return my own money to me. Two months later I receive a statement from them reflecting my current $0.01 balance. I again call to close the account - hold time 42 minutes. The rep claims my last call was just entered as a check request, not a closure request. He agrees to close the account. I ask him if he feels that 42 minutes on hold is acceptable customer service, to which he replies that they are switching to a new phone system and that is causing delays. Right. That's why there are complaints going back to 2000 of 30-60 minute hold times... Do yourself a favor and choose someone else to handle your trading business. Avoid E-Trade."
Pat - Oklahoma, USA (Jan-2006)
"I have been an E-Trade customer for about ten years now, and I have to say that the negative reports I've been reading are astounding. Either these people are in the employ of competitors, or are just plain wrong! I have never had any of the problems these people speak of. I joined E-Trade with a small account of money, and over the years have built it up to a substantial amount, so I know that E-Trade does it's best to do what is asked of it. I have tried many other brokers online, as I don't wish to have all my assets in one brokerage, but after dealing with some of them, I may consolidate everything with E-Trade. I use Schwab as my staid broker, for less risky stocks, and E-Trade for everything else. I have been with Vanguard, Ameritrade (twice) and some others, who's names I can't remember, and none of them can hold a candle to E-Trade. So I think you have to give them a chance, as no brokerage is perfect."
Theodore Miller - New York, USA (Jan-2006)
"I have not had any significant problems with E-Trade. They have special rates for frequent traders. There execution is better than my Scottrade account by price and time. I see the complaints about customer service and I think there is none these days. I have had run ins with Netzero.com and HP yes HP. I would state my problem on line and they both sent a generic email answer that had nothing to do with the problem I sent. I even stated no problem and requested a supervisor to contact me and got the same generic answer to a problem. Customer service, don't expect much cause it isn't out there."
David Harris - Washington, USA (Dec-2005)
"E-Trade service is really bad read for yourself. 1) Phoned Sunday, 12_04_2005 (45 minutes hold time), to close one of my E-Trade accounts and move the content (less then $2000) to my E-Trade IRA account. I was told it would be done the same day and would be visible on Monday morning. 2) Monday morning the operation is still not visible. Phone (20 minutes hold time) to ask why. I'm told by Ziishan (ext 3171) that it took a little longer and should be done by the next morning at the latest. 3) Tuesday morning still not done. Phone (10 minutes hold time) again, this time I speak with Levar (ext 4453). I explain what I want and tell him about the previous two calls. He tells me it should be done soon. I ask 'When will it be done?', he responds 'Well it's initiated now'. So I insisted he gives me a 'done target date'. Put me on hold again (for minutes at a time). This time he comes back and says 'You can not transfer the securities into your IRA'. So now after insisting for a 'done date' I got a 'never will happen condition'. At this point I do not trust what this man is saying since he appear to have been trying to just get me to end the call (his last word were 'the transfer is initiated'....). I ask to speak to a manager, to get this done. I get Rene (ext 4453). After describing the situation to Rene, I proceed to try to understand the structure of the 'customer service department'. I learn that she is really an 'acting' team lead, the real team lead is Chris Dodson which himself reports to Connie Forster. Anyway after making her verify (since IRAs are not her expertise) she confirms that I must sell my stock and then transfer the cash to my E-Trade IRA. I get online sell my stock at market and tell her 'ok now my account is all cash, when can you close this account and transfer it's content to my other E-Trade account?'. She says that they now have to wait 3 days for the 'stock sell' to clear and then, they will finally complete the transfer and close the account. According to her this time, it should be done by next Monday. I hope it will be. Conclusion E-Trade customer service sucks big time. By the way the reason I'm closing one of my E-Trade accounts is that they were charging a $40/maintenance fee per quarter, $160/year since years. They 'double suck', stay away from E-Trade...it's a matter of weeks before I close my last E-Trade account. E-Trade is going down...leave the boat while you can."
Delsol - Colorado, USA (Dec-2005)
"I have mixed feelings about E-Trade. My recent problem was concerning some actual stock certificates I had since a minor. I coordinated with E-Trade in advance to determine what the appropriate paperwork that was needed to transfer the physical certs to my account. Basically, they said I needed a letter and a copy of my birth certificate. I personally visited their office in DC and provided just what they needed. Now about 2 months later, I see there those certificates were "adjusted" off my brokerage account (approximately $4700). After calling them immediately, they said that I had not provided them a copy of the birth certificate. After they checked their records, they realized the error they had made. However, they were quick to fix the problem and the shares were quickly added back to my portfolio. For the most part, they have responded extremely fast to my emails and my phone calls. Is it because I'm a Power E-trade Pro customer? I'm not sure. I'm still evaluating other options in case I decide to pull my funds."
Russ Fortner - Tokyo, Japan (Nov-2005)
"9/29/05 Just closed account; transferred to Scottrade. Why? Account activity fees were way out of line. They didn't care at all when I called to close. Then found out there's a $60 transfer fee which Ameritrade and Scottrade do not charge. Lastly, their $15 fee for exact same service is too high compared to Ameritrade and Scottrade (11 & 7 respectively)."
Patrice Sauve - Michigan, USA (Sep-2005)
"E-Trade is awful. Every time I have had a complaint and call the helpdesk it takes forever for them to pick up. One time I had lost my debit card and I waited on hold for over an hour before the battery on my cell phone died. E-Trade is just plain awful. If I didn't have my direct deposit and other banking already through them I would just leave. I will, however, start to transition everything so I can get another bank. I've had it with them."
Salvador - Florida, USA (Sep-2005)
"Customer Service at E-Trade is very very poor - among the worst I have seen in this or any other industry. I have called them on various requests at least once every business day for the past two weeks and the average hold time before I could speak to an agent was 48 minutes! A few of those days I waited on hold more than one hour to speak to someone. This is unacceptable in an environment of executing market orders. Moreover I agree with other postings that discuss the long times and delays in receiving checks, transfers of funds. I have had to call back multiple times to ensure that a particular request is completed because every agent that receives a customer request seems to be out of sync with other agents that have worked on it. Faxes have gone missing, they are unable to call each other among their call centers, etc. I have emailed them directly asking about some of these issues and have never received any response. Save yourself a tremendous amount of hassle and worry, and avoid E-Trade."
Amit Sircar - Connecticut, USA (Aug-2005)
"All interactions I have had with E-Trade customer service has ended in disappointment and complete dissatisfaction. I have attempted to deal with E-Trade customer service more than 7 times on various issues. All ended terrible. I am still a member on E-Trade with 0 dollars in my account. Recently, I had attempted to open an online banking account with E-Trade. They sent me some checks, an ATM card, a signature form and stated that my account was setup and ready to verify. I attempted to verify it online and it was refused. I spent the next few days (long distance from Beijing) attempting to find out what was wrong. The times they told me to do various things and it would be just fine and I would be able to link my brokerage and bank accounts. Nothing worked. I called back a 4th time and was told I didn’t have a bank account. I explained to them that they sent a letter and an email stating I had an account, and requested that I finish the final steps online. At no time did I ever receive a message stating I didn’t have an account or that my initial deposit didn’t transfer. Instead, they had only instructed me to follow all these steps and finish the setup because everything else was fine…what a joke! Oh, yeah, they put me on hold and even told me they would call me back. The manager told me he would call back and he never did. I have worked in customer service most of my life and have never had such poor service from anyone. E-Trade is truly terrible and the customer support people do lie to their customers and makeup stories about what really happens. That is why I have an email address now that begins with E-Trade_sucks@. I do not recommend E-Trade to anyone and I have friends that have had problems with customer service too and wouldn’t recommend E-Trade. They never apologized for any of the problems they caused and attempted to make it sound like it was not their fault. If a customer doesn’t have an account, then do not send him information stating he does and that he can activate it online. Instead, tell him the truth and help him to resolve the problem. Instead, they want to put blame onto the customer. Ok, that is just one of my bad stories, it never ends with E-Trade! I have yet to arrange a new account but looking for a good place to put my money. Good luck, stay away from E-Trade if at all possible."
Jerry Slunder - California, USA (Jul-2005)
"I have been using E*Trade for about three years. I haven't had any problems with them but rarely need to phone for customer support. In addition, I have only executed a handful of trades up to this point. If you have over $50K in assets, including cash & CDs, you can trade for $11.99 However, what I like best about E*Trade is the bank. I have a money market account and some short term CD's which are earning some of the highest rates around. I like the fact that the bank and the brokerage accounts are linked and it is easy to transfer money back and forth. Whenever I get dividends, I transfer directly to the bank and get really great rates. I am concerned, however, that so many other people seem dissatisfied with E*Trade. Until I witness their "incompetence" personally, however, I am staying!"
Danielle Heskett - Indiana, USA (Jul-2005)
"E-trading with E-trade is bad. I have had an account with E-trade Financial and closed it on 3-29-2005. As of 4-14-05,I still have not received a check even though I was promised to receive it last week, again for the 13th. I called them again today and learned they have not begun the delivery process yet. The account was closed on 3-29-2005, but they are holding my money as tightly as they can. Finally on April 19,2005, I received my check. Even though my account was closed and the balance is 0 as of 3-29-05, on 4-26-05 I got an email telling me I was eligible for an upgrade. Warning: Do not do business with these people. They are not organized or either they are downright crooks."
Charlotte Hamner - Alabama, USA (Apr-2005)
"E-Trade sucks. I wish I read the comments on this website first. The listed price of $19.95 a trade is not entirely accurate. E-Trade also imposes a $3 processing fee in addition to the $19.95. What the hell? When I finally cancelled my account, I was charged a $10 fee to get my own money."
Robert Beckman - California, USA (Feb-2005)
"I used them for about 6 years and was reasonably happy... until I actually interacted with them in trying to close an investment club account. It took them months and innumerable phone calls, mis-issued checks, inattentive clueless and unresponsive customer service that all revealed a profound incompetence. Not getting your money out of the bank in a professional manner is a capital offense in my book: I am moving all my accounts and I won't touch E-Trade ever again!"
Nate Clement - Washington, USA (Sep-2004)
"E-Trade really sucks, I just closed out my account and plan to head over the Ameritrade or ScottTrade."
Jay Lasting - Illinois, USA (Jul-2004)
"This merger is disturbing. A horrible broker (TD) merging with a terrible broker. Two wrongs does not make a right."
Jim - New York, USA (Jan-2004)
"Had issues early on with the display of a stock symbol and it was a bit of a battle to get them to fix it. I finally sold the stock which ultimately fixed it. Lucky thing to it hasn't done much since I sold."
David - California, USA (Dec-2003)
"Worst customer service I have ever experienced."
Hamid - California, USA (Nov-2003)
"I have had very bad experiences with customer service over the past 2 months. They misplaced my paperwork & then blamed me for their 3-4 week delays because I did not have my account number at the top of my letter (it was at the bottom of my letter, right below my name). Their data scanning personnel cannot read, or so it would seem, because that was the reason they gave for misplacing the paperwork--if my account number had been at the top of the page, the data scanners would have been able to manage the paperwork. They apparently do not read their customer service emails because they never answered my questions correctly--on several occasions."
Christine - USA (Sep-2003)
"These folks bury you in fees--most of which are unreasonable. When you register a complaint, their response is phrased only slightly better than 'tough shit'."
Stephen Schmitt - Texas, USA (Sep-2003)
"There's a reason why I left the company when I did....I hated being a professional liar! Anytime anything went wrong, which was often, we had a carefully constructed script for customers. How many times can you tell people the reason their trade is not executed is due to heavy volume, when you look at the day's volume and know it's not heavy?? It's because our systems were down and we couldn't send thE-Trades to the market!!! And if your trade does "execute on time", thE-Trade executions are lousy - the infrastructure sucks! A lot of trades don't go straight to the market, but are spit out to be reviewed by a trader - delaying your execution even more! The employees over overworked, underpaid and stressed to the max - you're lucky you don't get "Yeah what do YOU want?" when they answer the phone. Been there, done that. And yes, my employee acct was closed due to inactivity fees - ate up what little bit of cash I had left. Good riddance!"
Former Employee - California, USA (Sep-2003)
"My trades are costing me $23 not the $19.99 they talk about. There is a $3 surcharge that I discovered when I traded!"
Greg Hirsch - New York, USA (Jan-2003)
"If you enjoy watching the hour glass on your computer then E-Trade is for you. You have just been informed that the CEO of the company that you hold stock in has ran off with all the company's wealth, sell your stock you say, start now and thirty minutes later you may have you trade through. If you need to learn the hard way, start an account at E-Trade."
Cliff - Kentucky, USA (Nov-2002)
"Want continued costs charging you for every transaction or posting to your account? Then E-Trade is your poison. Keep on filling those fat cats of E-Trade pockets with your hard earned money. Customer service?? They actually have that?"
Michael - California, USA (Jul-2002)
"Avoid E-Trade! I have an Optionslink account for Employee Stock Purchase Plan shares. One day, I initiated a market order that went unconfirmed for more than 30 minutes. So, I cancelled the order. That cancellation was electronically confirmed by E-Trade. But my shares did not become available again. So, I started making inquiries! Several hours later E-Trade called to say that thE-Trade actually took place earlier in the day, but it was never recorded in the system. Then they posted an execution statement with a time on it that preceded the cancellation order. My employer says that E-Trade notifies them of this delayed confirmation problem occurring about 2-3 times a month. The company has an employee base of about 3500 people. User beware! When I exercised my options grant, E-Trade deducted $180 from my brokerage account. Says that was due to time delays with the stock transfer agent. Now, I read in the WSJ that E-Trade's CEO takes home $80 million a year. Hmmmmm..."
M. E. - USA (May-2002)
"Don't trust their portfolio software unless you only do basic transactions. If you were to short put options, for example, you will be entertained in a major way (I promise)! Their Super Bowl ad confirmed what I already suspected, the CEO hired a bunch of chimps to do the hard parts."
Rod Smith - California, USA (Apr-2002)
"I have been very happy with E-Trade. $50. sign on bonus was paid on time and have had excellent service. I wish thE-Trade rates were lower and it's a consideration for me to move to another broker but other than that I have very few complaints. ThE-Trade confirmation time is almost immediate."
Albert - Ohio, USA (Mar-2002)
"Watch them like a hawk. Absolutely no customer service. High rates. I will never trade with them again."
Bernard Bernardo - Maine, USA (Mar-2002)
"E-Trade has frozen my ability to view or access my account unless I accept their new agreement which pops up every time I try to go to my account. In order to review the new terms I would have to print out untold pages to in order to ask questions. My copy of price quotes for getting a stock certificate states a cost of $15.00. I would like to get out and was told by their rep on the phone it would cost me $30.00 to get stock certificates. I am never going to be a largE-Trader and I feel my account is held hostage until I click 'I agree'. What I want now is to get out in the least expensive way as I would lose big time (for my financial situation) if I were to liquidate Cisco now. Also when you purchase a stock with E-Trade you do not actually own the stock as I understand it. Too bad for me and you if they go belly up."
Christine Reekie - New York, USA (Mar-2002)
"E-Trade = Disgusting. I have sent 5 cheques to E-Trade which I received from a Californian company. Unfortunately, they were fraudsters and let all cheques bounce. Not only did I loose that money (also, E-Trade took 6 weeks to clear the cheques), but E-Trade charged me $25 of each (6 x $25) and closed my account because they consider 'receiving a bounced cheque a high risk' and because this fraudster sent me 5 cheques which I presented at the same time I am considered high risk. At my best times, I had $250.000 with them. No more E-Trade."
Gerdi - Europe (Feb-2002)
"I am using E-Trade options link account, which is horrible. The customer service simply does not answer your calls (they do send an email, but the contents are meaningless). They have not explained their trading options anywhere in detail (you get one or two lines of explanation which is useless to explain complex calculations). The account statements do not explain thE-Trades. The information given simply does not add up e.g. 2+2 is *never* 4! I would have changed my broker, but I am tied to it because of my employers agreement with them. Needless to say, all this comes with a very high fees. It appears that they are trying to suck out money from their customers for every little thing."
S. T. - California, USA (Feb-2002)
"My experience with E-Trade has been nothing short of a nightmare. Initially after forwarding monies it took almost 3 weeks and daily calls to them for the acct. to open. I decided to open a coporate acct. and was re-asssured that they could be linked.. guess what; no such luck. I cannot check balances of corporate money market account online, have to call them. I executed a "sell" phonE-Trade (at airport after 9/11 shutdown) for "that day only" and it was done "till cancelled" costing me thousands. I attempted to finally close my money market acct. and was given the wrong balance (twice), therefore my check was tagged "NSF" they charged me a fee which they refuse to rescind. I faxed them documentation for the acct. closure which the first rep lost(?). And finally, if you need to reach cust. svc, prepare to wait for at least 1/2 to one hr. with the possibility of being placed on hold several more times. Live and learn!"
Jeff Tomes - Florida, USA (Jan-2002)
"I used E-Trade for about 5 years and have been very satisfied. Hardly any mistakes, and when there were, they were promptly corrected. I have only used them online and never on the phone."
Neil Maloney - Illinois, USA (Dec-2001)
"They absolutely, positively refuse to provide any level of customer service. If you don't like it, go away. I did."
Ted Padgett - USA (Dec-2001)
"Time for me to move on to another broker... E-crap does not have their you know what together! The site is very very slow and their accounting sucks!"
Dennis Hahn - Alaska, USA (Dec-2001)
"I've had an E-Trade account for over 4 years and been through some ups and downs with their service but they've gotten better and I'm happy with execution prices which always are better than Fidelity does for orders placed at the same time. I find their online interface easy to use but you need to watch your orders. If you make a mistake it's your mistake. I'm not a trader so I don't have an opinion on that aspect. FWIW I closed my account at Muriel Siebert due to very poor online availability."
Andy Delong - USA (Nov-2001)
"I would never recommend this online broker. I closed my account with them and over one month later I have not gotten a closeout statement of my account. I have had numerous emails promising to send a closeout statement but, their statements are as believable as their service...Not!"
Warren Whiteside - Delaware, USA (Jun-2001)
"E-Trade got their act together and provide a good service, they should now drop their commission prices to stay competitive with the top 10."
Lou - California, USA (May-2001)
"I use to have an E-Trade account, but I closed it because they made too many errors."
David Margiott - California, USA (May-2001)
"I'm a grandmother of 64 and started day trading with Datek over three years ago. I think they're excellent. Super fast, and accurate executions. Very low price and never an argument from customer support. For me, their customer support has been great. I use the streamer daily but now keep the "Island" open too as I find together I get a more accurate picture of the market flow. Yes, from time to time, when the herds they are a runnin', quotes on certain stocks go wild and are inaccurate but so out of line that you usually know it instantly. I have an E-Trade account too but find the interface very confusing and difficult to use and costs per trade are much higher. Also, their customer support is not as friendly."
Shawn Swain - California, USA (Dec-2000)
"Not competitive in price. Seems to be slower in executing orders than Fidelity. Don't like having to reenter my password on every trade when already logged into a secure site."
Stephen Burke - USA (Oct-2000)
"Plan and simple they can not add!"
Donovan Bartlett - Ohio, USA (Sep-2000)
"Hi, I'm was just introduced to this site and love it! I was pleased to see that you rated Datek as one of the top brokers. I'm a full time student (and work part time) and don't have much money to invest (read: none). E-Trade slammed the virtual door in my face (a tad rudely, I might add); Datek has been nothing but professional, courteous, and helpful to me. And, cheaper, too!! I'm having fun and feel good about it as I gingerly gamble -- uh, I mean invest -- my measly sums! :o)"
Sharon Evans - California, USA (Sep-2000)
"Up to date, news, real time quotes, excellent service."
Bob Allord - Indiana, USA (Apr-2000)
"Do yourself a favor and don't even think about opening an account with E-Trade. It took me 5 weeks and countless hours holding on the telephone to get an account open with them, and even then, it had no trading privileges. They required a compliance letter that was sent by me at least twice, yet mysteriously disappeared. Furthermore, they rip you off by having an 11 day hold on your check before they will issue a refund. Avoid E-Trade like the plague!"
Chris Beck - Florida, USA (Apr-2000)
"Very manipulative, fills do not conform to 'time and sales', wasting time scalping regardless of market conditions, especially since there new rebate program. Very much a ripoff for the day trader, but also a ripoff on a smaller scale, to every investor."
Jim Mosher - California, USA (Mar-2000)
"It took over 23 days to open an account using a cashier's check. When I finally did get my account information, I also received another account holder's account number, userid and trading password. They seemed very nonchalant about the whole thing and basically said (paraphrasing) 'they were secure enough and that nothing could go wrong.' They scare me. I am moving to another broker."
Michael Lanham - Arizona, USA (Feb-2000)
"I have accounts with Ameritrade, Quick & Reilly and E-Trade. I rate Ameritrade the best because of price and because they provide stockquest which is excellent for screening or evaluating stocks. The only disadvantage is that they only pay 2.75% on idle funds. E-Trade and Q&R use MM funds that pay almost twice as much."
Bob Johnson - California, USA (Feb-2000)
"I am very disappointed with E-Trade. Their servers almost always hang around the open and close and their execution confirms are slow. It is hard to tell if your order has been filled or not. Not the choice for activE-Traders. Price is ok but service is poor. I'd rather pay twice as much to get better execution. One botched trade makes up for the difference. Run, don't walk to a better broker."
Michael Morrissey - USA (Jan-2000)
"When everything is working as expected they are excellent. But, when there is heavy volume I cannot even logon! Similar to an item put on sale but not nearly enough in stock. Either spend some money on servers or say farewell to E-Trade." Sup ported by Snitch parental controls
Toma Berishaj - New York, USA (Jan-2000)
"I signed up with E-Trade when they offered a $50 sign on bonus. Now, 8 months later, I still have not received my $50. Also, most of my trades come in at $19.95, nowhere near a "deep" discount. But they do offer the best selection of low minimum mutual funds I have found with only a 90 day holding period required."
Randy Perkinson - Tennessee, USA (Jan-2000)