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Business Profile

Trade Exchange

E*TRADE Financial Holdings LLC

Headquarters

This business is NOT BBB Accredited.

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Complaints

This profile includes complaints for E*TRADE Financial Holdings LLC's headquarters and its corporate-owned locations. To view all corporate locations, see

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    Customer Complaints Summary

    • 505 total complaints in the last 3 years.
    • 156 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:05/18/2023

      Type:Product Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      My Bank (*******) changed their BIC/***** code 2 months ago. It was previously registered in Lithuania but now that they have an Irish banking licence, they are registered in Ireland. ETrade do not recognise the new BIC/***** code and so I cannot transfer any money over to my account. ETrade have told me that their *****/BIC code list is only updated twice a year, and could not tell me when this happens. How poor is that? In the meantime, my money is stuck. I have noticed that this is no problem with ****** who updated their site/codes straight away.

    • Initial Complaint

      Date:05/16/2023

      Type:Product Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I turned in E-Trade for a few trades that have been made against my will and there policy also about a buy order for a stock that there company excepted to the FTC. I hoping BBB can help resolve this matter I'll be uploading the documents to your company and and I'm hoping to see a resolution for the constant mistakes this company has made. And you need to get as. Much info as possible because E-Trade is splitting from ****** ******* private bank. So they might be trying to hide the information a round multiple embezzling issues. I owed **** a stock it's been traded on my account without notice for 1 cent this company never hit 1cent that's 400 shares to equal 1 cent doesn't add up that's .oooo25 of a cent per share E-Trade doesn't except decimal points on shares that low. Check the pics I have . Now on 5/4/2023 ****** a stock from ******* *** ******* started to trade publicly. I put in a buy order for .0001 x 100 shares of ****** and it was excepted. I realized that was a great deal so I tried to buy more with .00001 x 1000 for only 10cent this was not expected. Then I looked for my 100 shares and they couldn't be found and I wrote the company E-Trade on the web page and they wouldn't except the complait on the site. Multiple times. ****** is now at 29 $ that's something like a million dollar shares a piece. So yeah that's a huge problem. I want my shares and you have proof of them selling shares and giving my account false information with the pictures so don't let them lie get Auditors and the IRS and find that 1cent worth millions of dollars. Thank you time is short on this case and was issued to FTC last night but they don't have any pictures because there site doesn't up load pictures.

    • Initial Complaint

      Date:05/16/2023

      Type:Customer Service Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      ON 5/15 i had problems accessing my ira account with etrade and was given a passcode to access my account. On 5/16 i was blocked from accessing my ira account with etrade. I called customer service at ****** **** and spoke to ******* and **** and asked for a supervisor- after waiting 17 minutes **** hung up the phone.

      Business Response

      Date: 06/21/2023

      June 21, 2023 

      To Whom It May Concern: 

      I am following up on your June 5, 2023, letter to ***** ********** requesting a response  to ***** ******’s complaint in the above-referenced matter.  

      Unfortunately, we are prohibited by Securities and Exchange Commission Regulation S P and Morgan Stanley’s internal policies from disclosing non-public customer  information to nonaffiliated third parties, including the Better Business Bureau. This  prohibition extends to any description of the customer complaint or its response because any meaningful discussion of the complaint would generally require the disclosure of  personal information about the customer, his or her finances, and investment objectives.  

      Please note that a detailed response was provided to Mr. Becker via mail on June 21,  2023. 

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

    • Initial Complaint

      Date:05/16/2023

      Type:Customer Service Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I am a 67 year old widow. I have been an Etrade client for more than 15 years. All my savings are invested in that account. I don't do many transactions.It's been almost a month since I was denied access to my account. The system indicates: Your account has been blocked, please contact Account Activation. I called ETrade and they asked me for a copy of my license again. They took photos of me through my computer, and asked me to verify all my information. After all this, I made at least 6 calls where I had to wait approximately 20 minutes. They told me that they cannot tell me over the phone what is the reason why I cannot access my account, that I should wait for a letter that would arrive in 5 days. They already passed and I have not received anything. Today I called again asking to speak to a supervisor, and they told me that they had already left. I think they have given me this treatment because I speak English with an accent. Can you help me?

    • Initial Complaint

      Date:05/12/2023

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      On 5/10/23, I did an online transfer of $25,000 to my credit union account from my E*Trade account. On 5/11/23, the transfer was denied by E*Trade and my account was locked. This was a transfer to a previously validated account, and I have made multiple transfers in the past, some in larger amounts. The E*Trade account was opened to save money for income taxes and the funds were transferred out in April to pay those taxes. On 5/11/23, my husband called to unlock the account and they refused to do so. He asked to speak to a supervisor and they would not allow him to do so. They said one would call him back, but no one has. On 5/12/23, he called again and received the same run-around. I called on 5/12/23 to close the account and they refused to close it. I was told a supervisor would call me in 2-3 business days, so not until next week. I cannot get to my own funds and they are doing anything they can to avoid closing the account. I want to close it to move the funds to a local bank, where I can go into a branch and speak to an actual person. I am tired of their games.

      Business Response

      Date: 06/26/2023

      June 26, 2023

      Dear *** *****:
      On behalf of Morgan Stanley Private Bank, National Association (MSPBNA), formerly E*TRADE Bank (E*TRADE), this letter is in response to your correspondence submitted
      to the Better Business Bureau (BBB), received by MSPBNA on June 4, 2023.

      It is noted that the MSPBNA Compliance Department previously responded to your concerns by letter dated May 25, 2023, and your concerns have been resolved.
      MSPBNA appreciates the opportunity to address your concerns; if you still require assistance, you are encouraged to contact Customer Service by telephone at 1-800-387-
      2331.

      Sincerely,
      Compliance Department
      Morgan Stanley Private Bank, National Association

      Customer Answer

      Date: 06/27/2023

      [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]

       Complaint: ********

      I am rejecting this response because:  they did nothing to fix the issue.  There was no "resolution", other than to finally close the account.  They insisted on doing a 3 way call with our bank, who would not give out our information to a third party.  We had already done several transfers with this bank and it was pre-approved, so there was no reason they should deny it.  We finally got them to close the account, after hours of phone calls, multiple times, and lots of runaround.   We will never deal with them again. 

      Regards,

      ***********************

    • Initial Complaint

      Date:05/10/2023

      Type:Service or Repair Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I closed my account electronically and transferred the funds automatically through the companies etrade system. The company change service provided to me but not having a personal account reach out to me. They are now stating I owe them $170.04 and they cannot fully explain why this is happening. They instead sent me a threatening message stating if I did not pay they would pursue legal action. I am not sure why they are coming after me when I simply requesting my account to be dissolved and brought over to another organization. They held back money two times before fully dissolving the account and now they want me to deal with their system error. I have wasted more time on this than what they claim I owe but cannot explain.

      Business Response

      Date: 06/16/2023

      June 16, 2023 

      To Whom It May Concern: 

      I am following up on your May 16, 2023, letter to ***** ********** requesting a  response to ********* *******’s complaint in the above-referenced matter.  

      Unfortunately, we are prohibited by Securities and Exchange Commission Regulation S P and Morgan Stanley’s internal policies from disclosing non-public customer  information to nonaffiliated third parties, including the Better Business Bureau. This prohibition extends to any description of the customer complaint or its response because any meaningful discussion of the complaint would generally require the disclosure of  personal information about the customer, his or her finances, and investment objectives.  

      Please note that a detailed response was provided to *** ******* via mail on June 16,  2023. 

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

    • Initial Complaint

      Date:05/10/2023

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Checking Account Opened Submitted required documents ID and social Called into Account Activation multiple times Cashed a couple checks Checks where made avaible to be withdrawn after passing required hold times Refusing to allow access to funds and have provided no reason to why or what further action is needed Restricted me from accessing my account online

      Business Response

      Date: 06/06/2023

      June 6, 2023 
      Dear Rebecca Strohl: 
      On behalf of Morgan Stanley Private Bank, National Association (MSPBNA), formerly  E*TRADE Bank (E*TRADE), this letter is in response to your correspondence submitted  to the Better Business Bureau (BBB), received by MSPBNA on June 1, 2023. 
      It is noted that you spoke with Customer Service on May 16, 2023, and your concerns  were addressed at that time.  
      Morgan Stanley appreciates the opportunity to address your concerns; if you still require  assistance, you are encouraged to contact Customer Service by telephone at 1-******** ****. 
      Sincerely, 
      Compliance Department 
      Morgan Stanley Private Bank, National Association

    • Initial Complaint

      Date:05/09/2023

      Type:Product Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      On 4/18/2023 I sent a letter of instruction to Etrade Beneficiary Services using case# ********. I asked to close an existing Etrade joint account and transfer assets to my new Etrade trust account. I sent the forms to Etrade by email and called to verify that they were received. I was told that it would take **** business days to process. I have called the Beneficiary Services several times since then to ask for a completion date, and each time they tell me it will take another two weeks. During the most recent call on 5/9/23, they told me it would take ***** more days to complete. When I did a similar request with **********, it only took 2 days to process.

      Business Response

      Date: 06/15/2023

      June 15, 2023

      To Whom It May Concern:

      I am following up on your May 16, 2023, letter to ***** ********** requesting a response to **** *********’s complaint in the above-referenced matter.

      Unfortunately, we are prohibited by Securities and Exchange Commission Regulation S-P and Morgan Stanley’s internal policies from disclosing non-public customer information to nonaffiliated third parties, including the Better Business Bureau. This prohibition extends to any description of the customer complaint or its response because any meaningful discussion of the complaint would generally require the disclosure of personal information about the customer, his or her finances, and investment objectives.
      Please note that a detailed response was provided to *** ********* via Secure Message on June 15, 2023.

      Sincerely,
      Compliance Department
      E*TRADE Securities LLC

      Customer Answer

      Date: 06/22/2023

      [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 

      Regards,

      ***************************

    • Initial Complaint

      Date:04/25/2023

      Type:Product Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I closed my etrade account. I subsequently received an emailed survey requesting feedback as to why I closed accounnt in exchange for a $5 ****** gift card. I completed the survey & never received the gift card.

    • Initial Complaint

      Date:04/22/2023

      Type:Customer Service Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have pdt account with etrade and was under 25K. I accidentally bought spy call that expired same day and meant to buy one that expired next day. I called customer service at 2pm for etrade. And they told me I could not mark it ad do not exercise until after 4 PM and before 530pm but at 3:59pm the call was sold without my permission and I am now forced to be in a cash only account which means I can't use margin which I was forced into even though they told me i had to wait till after 4 PM to call them and tell them not to exercise it which I planned on doing but at 3:59 PM it was sold without my permission Which lost me access to margin use and I feel that it's extremely unfair.

    E*TRADE Financial Holdings LLC is NOT a BBB Accredited Business.

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