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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:01/17/2023

      Type:Product 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.
      I recently opened up 2 accounts at E*Trade - a Brokerage and a 401k. Suddenly, they decided to close the accounts with NO explanation - except they would send a letter-which I have NOT received. I am a Certified Public Accountant (CPA) and referred 5 other clients to their platform. So far one of them has had the same issue and his letter stated "suspicion of identity theft". Rather than request proof, they are closing accounts and essentially stealing the funds/holding them hostage. This is completely unacceptable. I have read countless other incidents of the same thing happening online. I do not understand how nothing is being done about this - especially when it involves such a reputable bank/brokerage firm. Freezing client funds without explanation and refusing to speak to them is not how an institution should operate. I appreciate *** standards but E*Trade is acting as if they have a license to steal money from customers who deposit money on their platform. I truly hope this is taken seriously as the amount of people affected is in the thousands (just do a quick ****** search). Thank you in advance for your time.

      Business Response

      Date: 02/01/2023

      February 1, 2023 
      To Whom It May Concern: 
      I write in response to your January 23, 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 E*TRADE’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 sent via mail to *** ****** on February 1, 2023. 

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

    • Initial Complaint

      Date:01/12/2023

      Type:Delivery 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.
      Etrade is a ***** registered stock broker and they are not following finrus rules on pattern day trader status I was marked pattern day trader even though rule says if the daytrades are 6% or less of total 5 days trading volume then they are not a pattern day trader. They told me it only counted on the 3 days I made the day trades out of the 5 days which is a violation of finra rules

    • Initial Complaint

      Date:01/11/2023

      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.
      My son died in September. I filed the estate documents with Etrade in late Sept to Oct. They required much more documentation and forms to be filed out than any other bank or investment firm. What is what is no big deal. However, we are now in January and his entire estate is taken care of (all other financial institutions have liquidated the accounts) and Etrade still hasn't issued any checks and his account shows still $1.15 in his account but all the rest of the money is gone, but we haven't received any of the funds.I can forward copies of ID, death certificates, court documents of authority and all the forms they asked me to fill out if needed.

      Business Response

      Date: 01/26/2023

      January 26, 2023 

      Dear *** ****: 

      On behalf of E*TRADE Securities LLC (E*TRADE), this letter is in response to your  correspondence to the Better Business Bureau (BBB) that was received by E*TRADE on  January 19, 2023. 

      A detailed response to your concerns was sent via mail from the Compliance Department  on January 26, 2023. 

      E*TRADE appreciates the opportunity to address your concerns; if you still require  assistance, you are encouraged to contact Customer Service at 1-800-387-2331. 

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

      Customer Answer

      Date: 02/14/2023

      [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:

      ---------- Forwarded message ---------
      From: ***** **** <*********@*****.com>
      Date: Tue, Feb 14, 2023 at 8:07 AM
      Subject: Complaint # ********
      To: <[email protected]>

      We finally got the funds from my son's estate however 
      1) they never sold off everything and issued a check to the estate as requested in October
      2) they say they never got stuff until December when we had to send multiple copies of the same documents in October and November both by US Post and email
      3) they created new accounts not in the name of the estate but in some new beneficiary names
      4) we had to find someone to liquidate the accounts because Etrade wouldn't do it.  If it wasn't for a relative who was familiar with their convoluted systems we'd have had to hire someone.
      5) we are still trying to figure out if we now have multi year tax consequences because of their incompetence or just sadistic nature
      6) every other bank and investment firm had checks issued to our son's estate by the end of October 
      -- if you are going to die and love your heirs never do business with Etrade

      Regards,



      ***** ****

    • Initial Complaint

      Date:01/06/2023

      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.
      In November I funded an E-trade account with 90,000. The have closed me out of my account and have refused to give me access to my funds no matter how much identification I provide. I Still cannot get my money out even though they acknowledge they have my funds. Funds in the amount of 90,000 shown on my november report as going to "MSPBNA" otherwise known as Morgan Stanley, the company that owns etrade

      Business Response

      Date: 02/08/2023

      February 8, 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) on January  9, 2023, regarding the above-referenced account. 

      A more detailed response to your concerns was sent by the Compliance  Department via Secure Message on February 8, 2023, Message ID  ********.  
      If you still require assistance, you are encouraged to contact Customer  Service at ###-###-####. 

      Sincerely, 

      Compliance Department 
      Morgan Stanley Private Bank, National Association

    • Initial Complaint

      Date:01/06/2023

      Type:Service or Repair 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.
      I currently own a couple of shares of ********, which were sold on 01/05/23. E-Trade added a $38 charge, a mandatory reorg fee, which is exceptionally high relative to any of my other brokers, which did not charge me anything. Then, I had a couple of shares of ************, maybe less than $10. **** did a reverse stock split on 01/06/23 and E-Trade charged me another $38 called a mandatory reorg fee charged. Can E-Trade prove that these transactions cost them $38, this is outrageous, and they're trying to steal money from their users. There chat service is broken on the app as well, very convenient.

      Business Response

      Date: 01/24/2023

      January 24, 2023 

      Dear *** ****: 

      On behalf of E*TRADE Securities LLC (E*TRADE), this letter is in response to your  correspondence to the Better Business Bureau (BBB) that was received by E*TRADE on  January 16, 2023. 
      A detailed response to your concerns was sent via Secure Message from the Compliance  Department on January 24, 2023. 

      E*TRADE appreciates the opportunity to address your concerns; if you still require  assistance, you are encouraged to contact Customer Service at **************. 

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

    • Initial Complaint

      Date:01/05/2023

      Type:Service or Repair 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.
      My E trade account was hacking into on December 28, 2022. The individual was able to transfer out $13,900.00 and also have a pending withdrawal of $6,100.00. They were also able to change the SSN, DOB, Email, Phone and address on the account. I would like to have an explanation as to what happened and why this occurred. This transaction has hindered my company from completing some billing as the funds were withdrawn.

      Business Response

      Date: 01/23/2023

      January 23, 2023 
      Dear *** *******: 
      On behalf of E*TRADE Securities LLC (E*TRADE), this letter is in response to your  correspondence to the Better Business Bureau (BBB) that was received by E*TRADE on  January 16, 2023. 
      A detailed response to your concerns was sent via mail from the Compliance Department  on January 23, 2023. 
      E*TRADE appreciates the opportunity to address your concerns; if you still require  assistance, you are encouraged to contact Customer Service at 1-800-387-2331. 

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

      Customer Answer

      Date: 02/02/2023

      [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:01/05/2023

      Type:Service or Repair Issues
      Status:
      Unresolved
      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.
      E trade will not allow me access to my account. I spent over 3 hours on the phone with them, providing all manner of ID (including social security number, chasing down a 20 yr old employee number, etc.) They keep telling me they need certain ID, I chase it down and give it to them and then I am told they need something else. They have over ****** of mine and will not allow me access. How is this legal?

      Business Response

      Date: 01/30/2023

      To Whom It May Concern:

      I write in response to your January 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 E*TRADE’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 sent via mail to Ms. ********** on January 30,
      2023.

      Sincerely,

      Compliance Department
      E*TRADE Securities LLC

      Customer Answer

      Date: 02/08/2023

      [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:
      This response is omitting facts. During that initial call, I was told that my SSN was not enough (even tho the site says it requires SSN OR employee no.). I was told I needed my employee number from a part time job of almost twenty years ago. I spent hours on the phone tracking this number down, went back online to the site to once again be denied access to my account. Another phone call to e trade , only to be told my information is too old. 
         ETrade is in possession of my name, address, telephone, SSN, account number, account user name, account password, and employee number (verified by ***). They send mail directly to my house. They send me emails, thru which inputting my account user name and password,  I can view (only view, not control) my money. I have never been notified, at any time prior to this that my account needed activation. I started this account and allowed this company to take money, in good faith, from my hard earned paycheck. I have bought and sold houses with less intrusion and frustration than this. 

      Regards,

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








    • Initial Complaint

      Date:01/04/2023

      Type:Billing Issues
      Status:
      Unresolved
      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.
      E-Trade has not operated in good faith. The have violated the corporate action report concerning this distribution and registration of ***** 1:1 exchange to **** ****** ************. They have changed their story 15 times, have twice issued ****** *****'s claiming those to be the 3398 shares of **** ****** they owe me. They flat out refused to open a inquiry in my name with the **** as the **** instructed me to have them do and is my right by law. E-trade continues to claim they are waiting on the **** to issue the shares to them but the **** says they have already received their share allocation. This is rapidly devolving into a criminal issue. Just today a broker at E-Trade tried to claim the ****** ***** they placed last night was my **** ****** Share Allocation when I called him on that lie he claimed they were still waiting for the master certificate from ****. When I called him removing my cost basis from my account is creating a taxable event for me and constitutes Tax Fraud he claimed that, that it was no big deal and they already knew about it even though they just did it last night. E-trade has virtually stolen 13k worth of stock from my portfolio and continues to STONEWALL me about a resolution. Furthermore in direct violation of the S1 and Corporate Actions adherent to the matter E-trade is trying to claim I would need to pay them $500 to issue physical certificates if I wish to transfer my shares to the booking agent ***. *** says all they need is a *** or **** of the shares in my name and they will open an account in my name, The corporate action states there is no payment needed for this transfer. I require delivery of the **** ****** *********** shares I am owned registered in Book From with the transfer agent *** according to the corporate action of Dec 20th. 

      Business Response

      Date: 02/10/2023

      February 10, 2023 

      To Whom It May Concern: 

      I write in response to your January 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 E*TRADE’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 sent via Secure Message to *** **** on February  10, 2023.  

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

      Customer Answer

      Date: 02/14/2023

      [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: It's a lie. It's that simple they are criminals they have knowingly and intentionally sold counterfeit naked short shares to their retail clients. They have committed massive securities fraud, and conspiracy to commit securities fraud. 

      It has been more than 60 days now and they still can not provide the **** ****** *********** shares they sold me because they sold more shares than their allocation of shares. They are liars and criminals who should be facing prison time and have their brokers license revoked. 

      I still have 3398 **** ****** ****** ***** shares sitting in my account and they continue to tell one lie after another. First they claimed the *** could not be shorted and their were no short shares even though I have a screenshot of Etrade asking to borrow ***** *** shares to loan. Then they claimed they had no ***** shares short another lie. Then they clamed ***** ***** shares were the same thing as the *** shares. ****** ***** by definition means they can not locate the shares they owe. Then they lied that they had to issues hard shares to transfer them to the holding agent *** which is another lie, both the **** and *** says REAL **** ****** shares can be *** transferred. Then Etrade lies and says there is a $500 fee to do so even though the corporate action, *****, and the **** have all said there is no fee to transfer the shares. ETRADE is lying as a stalling tactic because they are criminals who sold counterfeit shares and are caught red handed. 

      Regards,

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

    • Initial Complaint

      Date:01/03/2023

      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.
      I had a hard time closing my Etrade account a couple of years ago. No customer service to help. I have lost login access but I am still getting an email about account statements periodically. Very frustrating!I need attention from the management team and need to ensure my account is closed and deleted from the system to avoid any incident of identity theft since I am not using Etrade account anymore.

      Business Response

      Date: 01/31/2023

      January 31, 2023

      To Whom It May Concern:

      I write in response to your January 16, 2023 letter to Brock W********* requesting a response to ****** *****’s complaint in the above-referenced matter.

      Unfortunately, we are prohibited by Securities and Exchange Commission Regulation SP and E*TRADE’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 sent via mail to Nimesh Patel on January 31, 2023.

      Sincerely,
      Compliance Department
      E*TRADE Securities LLC

    • Initial Complaint

      Date:12/31/2022

      Type:Product 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.
      Hello. I have a trust/ margin account with E-Trade. E-Trade agreed to remove the Pattern Day Trader restriction from my account but failed to do so. I made a one time mistake by placing too many trades in one day. I spoke with customer service member about the issue. I received an email stating that restriction was removed from account but restriction is still active.

      Business Response

      Date: 01/26/2023

      January 26, 2023 

      Dear *** *******: 

      On behalf of E*TRADE Securities LLC (E*TRADE), this letter is in response to your  correspondence to the Better Business Bureau (BBB) that was received by E*TRADE on  January 10, 2023. 

      A detailed response to your concerns was sent via Secure Message from the Compliance  Department on January 26, 2023. 

      E*TRADE appreciates the opportunity to address your concerns; if you still require  assistance, you are encouraged to contact Customer Service at 1-800-387-2331. 

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

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

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