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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:12/29/2022

      Type:Billing 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.
      E trade has locked my account for no reason. I set up a wire transfer verified the account the money was being transferred to and made an initial wire transfer then when I set up additional transfers they locked me out of my account. I asked them to please send my money back to my back they refused and told me my account would remained locked until I submitted the required documents. This is absolutely ridiculous and outrageous. I cant get my money returned to the account it came from until I submit documents. They have verified who I am multiple times and still cant get me money. I think Etrade is running a ponzi scam on customers. I want my money returned to me immediately.

    • Initial Complaint

      Date:12/27/2022

      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 received an email from ETrade saying that my brokerage account has a negative balance and I need to bring it current. The account only had $67 dollars in it and has had about the same amount give or take $5 for tha last several years. I was told that ETRade took (2) $38 fees from my account based on a reorganization of two of the stocks that I hold. I went online to chat and was told that ETrade charges $38 when companies reorg. huh? no apology no empathy no here are you next steps no detailed expalanation of what it means in layman's terms. So I called and waited at least 30 min to speak to someone they told me they couldnt explain what a reorg fee was and if I needed to pay the (2) $38 fees or if I just needed to pay the negative balance on my account which is about $3. Furthermore they said they would need to transfer me to a broker to explain...I am still on hold it's been 36 min. With all of the competition out there with no fee brokerge accounts and excellent customer service why is Etrade performing so poorly. This small fish in a big pond needs help. The actual email is here - Dear valued client, It has come to our attention that you currently have a negative balance in your account. It is important that you resolve this situation by funding your account as soon as possible. You can also go directly to etrade.com/fund for instructions. Please note that failure to act may result in E*TRADE taking further action, including account closure and notifying a consumer reporting agency. If you have already deposited sufficient funds into your account or remitted a payment to cover the negative balance, please disregard this message. If you have any questions, or if you wish to arrange a repayment plan, call us anytime at 800-ETRADE-1 (800-387-2331). You can also log on to your account and send us a secure message. Please do not reply to this email, as the mailbox is not monitored for responses. Sincerely, E*TRADE

      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 8, 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

    • Initial Complaint

      Date:12/22/2022

      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 sent a check for $103.94 to E-Trade to invest. They put a block on my account after receiving, and deposited my check, but will not let me invest and will not return my money. I have did everything they asked me to do and they still would not let me invest. I even sent them my bank statement, but they saying that is not good enough because the format, the bank originate their statement it is not acceptable to them. Which is they do not show my whole account number. I asked them to return my money but they said I will have to have the bank reclaim a check that has already been deposited into their account, which is supposed to be my account to invest. I would like to have my money back.

      Business Response

      Date: 02/03/2023

      February 3, 2023 
      To Whom It May Concern: 
      I write in response to your January 4, 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 Mr. Phillip on February 3, 2023. 

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

      Customer Answer

      Date: 02/15/2023

      [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:

      No refund was issued 

      Regards,

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

    • Initial Complaint

      Date:12/16/2022

      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.
      12/09/22-Present I received a $12k Annuity check from the ***** I worked for in the past, and decided to use the mobile deposit option via the E-Trade account that I have had for two years. I chose to use this option not only for how convenient it was, but also the time it would save me by not needing to drive anywhere. Which was especially important since I have been out of work, without pay, for 6 months now due to temporary company lay-offs. Ive been living off of my savings fairly comfortably up until the past week or more, so in my mind I figured this check had came just in time to cover rent this month and finally be able to go Christmas shopping, which was a relief. It also appealed to me that once the check cleared I could immediately withdraw what I needed, and then use the rest to invest. Too good to be true. I had never ordered a debit card, which meant I needed to now, and wouldn't receive it for 7-10 business days. No big deal, so Once the check did finally clear a week later, I attempted to add an external bank account to transfer the money to that I already had a card for. I was unable to do this as they wanted to send a code to the phone number I originally had when opening the account, but couldn't because I changed numbers and providers a year ago. Their answer was straight up nothing they can do without that number. Then I attempted to add a wire recipient online, but couldn't as I "Had no verifiers" and needed to call in order to verify. So, I call and was told to upload my ID along with a wire request form online, and it would be sent in minutes. I have sent multiple different photos of my license, multiple wire request forms, a hand written request form, and even my passport just to be told they cannot accept the pictures. Now my account is completely restricted, leaving me behind on rent and zero gifts for my boys. Ruining Christmas for my kids is unacceptable. I WILL get my money and I DO NOT CARE WHAT IT TAKES.

      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 15, 2023. 
      A detailed response to your concerns was sent via regular mail 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 1-800-387-2331. 

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

    • Initial Complaint

      Date:12/15/2022

      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.
      I just checked and it looks like we were charged a wire fee which was not authorized or warranted. ACH transfer is all we asked for and it looks like they wanted to steal another 15.00 dollars from us. ACH is and always has been free. This company cant stop stealing and its getting real old. They never sent notification that they had wired the money as is a common occurrence. We feel robbed again like every day we do business with these people. We would like refund as we did not ask for a wire

      Business Response

      Date: 01/30/2023

      January 30, 2023 

      To Whom It May Concern: 

      I write in response to your December 29, 2022 letters to Brock Williamson a response to  ***** *******’s complaint in the above-referenced matters.  

      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 directly to *** ******** via Secure Message  on January 30, 2023.  

      Sincerely, 

      Compliance Department 
      E*TRADE Securities LLC

    • Initial Complaint

      Date:12/15/2022

      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 asked Etrade for a simple withdrawl of a 415.00  in the 6th of December and now 9 days later it still has not been done. Even at Christmas time, this company can find no decency. They actually transferred to a bank account that has been closed for years but they know this and still made a faulty transaction. They deleted one of our accounts without our permission. This is the account they were suppose to use and deposit the money. This is an account we have had for four years and they just deleted it like a piece of trash. They did all this without mentioning it to us which is completely wrong. I would like to warn others of this companies shady practices. As it is now, we have to document, take photos and record anything we buy so we can keep from being thieved. Not sure where this company went wrong. They use to be so great to do business with and we trusted them. now they cant even transfer a meager 415 to our account when asked. If they arent going to make a transfer they should leave the money alone. No they took it and are holding it for absolutely no reason at all. Must be our Christmas present. Reprehensible. Short order theft is all they represent to their valued customers.kr photos

      Business Response

      Date: 01/30/2023

      January 30, 2023 
      To Whom It May Concern: 
      I write in response to your December 29, 2022 letters to ***** ********** a response to  ***** *******’s complaint in the above-referenced matters.  
      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 directly to *** ******** via Secure Message  on January 30, 2023.  

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

    • Initial Complaint

      Date:12/09/2022

      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.
      E*TRADE Bank, has provided USPS correspondence, with intention to cancel a personal, business 401(k) for having a balance with less than $100.00. It, is accepted to increase the E*TRADE Bank balance, to over $100.00. Provide, instructions for continuance with increasing the aforementioned E*TRADE Bank balance, to over $100.00.

      Business Response

      Date: 02/02/2023

      January 30, 2023 

      To Whom It May Concern: 

      I write in response to your December 19, 2022 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 January 30,  2023.  

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

    • Initial Complaint

      Date:12/09/2022

      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.
      The customer service /support to process the customer's transaction request at ETRADE is terrible and extremely slow. I submitted a transaction (retirement rollover/distribution) on Nov 30 2022 and was told the request would take 1-2 business days to process. After following up daily, the request is still not processed. The same kind of the request with a different amount was processed twice recently. Every time it was a slow and frustrating experience. I have had to contact ETRADE on a daily basis to follow up and was told every time by the representative the request would be processed the next day or the same day. In addition, Etrade also opened an account for me which I did not request. The account opening process was also long and painful. It did not communicate to its client for any issues as I have to call the service all the time to follow up constantly. I just want ETRADE to provide a better customer service and keep its promise of the turn around time.

      Business Response

      Date: 02/01/2023

      January 30, 2023 

      To Whom It May Concern: 

      I write in response to your December 22, 2022 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  January 30, 2023.  

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

    • Initial Complaint

      Date:12/03/2022

      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 have been trying to close my brokerage account since at least 2018. In 2022 in earnest. This has taken up hours upon hours of my valuabletime to no avail.....This account was started as a high school project for my son to do research & pick stocks (which i then purchased) years ago. It has not been active for quite a while. My account has been restricted due to suspicious activity for a very long time. I receive quarterly statement notifications via email but cant access them or the details of my acct online. I have updated my address & phone number over the phone and have an email confirming this. Yet they cant close my account because they still have my old number and cant send me a verification text. Ive been asked to transfer & then wire money to cover a restructuring fee i did not know existed since i cant access my account details. Which i did. Every time i call its another excuse why they cant close the account. Even the old stock that is defunct and sitting there at zero cant be dumped because clearly no one knows what they are doing. I just want the account closed. This shouldn't be that hard.

    • Initial Complaint

      Date:12/02/2022

      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.
      ETrade charged a hidden fee per custodial account that I was the custodian on of $38 each totaling $190 on stocks worth around $80. The fees were more than the value of the stocks the fees were on. ETrade gave no warning of the fees. An ETrade supervisor said he could waive the fees if I "made it worth his while". The supervisor did refund $38 to one of the five accounts. There's still $152 worth of fees which other investment companies doesn't charge. The fees ended up being more than 10% of the value of the accounts. ETrade does not show the fees under the history of your account, and can only be noticed if you catch that the balance of your account has changed!

      Business Response

      Date: 01/18/2023

      January 17, 2023 

      To Whom It May Concern: 

      I am following up on your December 15, 2022 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 response was provided directly to *** ***** via mail on January 17,  2023. 

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

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

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