We use cookies to give users the best content and online experience. By clicking “Accept All Cookies”, you agree to allow us to use all cookies. Visit our Privacy Policy to learn more.

Manage Cookies
Resources for Businesses My BBB
Share
Business Profile

Trade Exchange

E*TRADE Financial Holdings LLC

Headquarters

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Trade Exchange.

Complaints

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

Find a Location

E*TRADE Financial Holdings LLC has 14 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

    Please enter a valid location.

    Customer Complaints Summary

    • 504 total complaints in the last 3 years.
    • 153 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.

    Sort by

    Complaint status

    Complaint type

    • Initial Complaint

      Date:12/16/2023

      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.
      In September 2022 my father (*****************************) was diagnosed with Minor Cognitive Impairment. In preparation for a further decline to Alzheimer's, he completed paperwork to give me Durable Power of Attorney and begin processing his accounts on his behalf. In September 2023 I submitted Power-of-Attorney (POA) paperwork to e-Trade to manage my father's accounts. Neither he nor I received any notification of the processing of paperwork. In early October 2023 I called e-Trade and was told that the paperwork was in process but not finished and should call back in November 2023. I never got a chance to call back because I was too busy taking care of my father and his declining health. On December 7th my father and I updated his e-Trade account to my email and cell phone because he no longer uses either. On December 10 we submitted a disbursement request to take funds from his IRA. On December 11 I received an email saying his account had been restricted. We have both called together multiple times since then to: 1) Understand the delay on the POA 2) Get the restriction lifted on the account. On December 14 the person we spoke to said to upload a copy of the bank statement the funds were dispersed to, which was done. I was told it would be resolved by Friday afternoon at the latest. On December 15 I received an email saying the disbursement was cancelled. When we called e-Trade for an explanation, the person we spoke with could not provide any information beyond "my father would get a call". The person we spoke with could not say when he would receive the call. When the POA paperwork was submitted my father had Minor Cognitive Impairment. He now has Alzheimer's and is shortly being moved to an Assisted Living Facility. This lack of action on E-Trade's behalf is causing my father incredible stress.

    • Initial Complaint

      Date:12/07/2023

      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 have an employee stock plan account with E*Trade through my employer. I have tried following the online activation steps and even after providing the required information it tells me that I have to contact E*Trade support. After doing so multiple times (about 5 times to be exact). Each representative that I have spoken with could not articulate an exact reason as to why my account cannot be activated online. I tried the alternative and uploaded the paper/digital form to activate my account and they still come up with some ******** as to why It cant activate saying they need more information. Mind you they have all my information that my employer provided to them since the account was made on my behalf!!!! This is money that has been taken out of my paychecks that I have no access to! feels like I am getting robbed. My account is restricted and I cannot sell or transfer the stock/money that I have accumulated on that account. I need someone to contact me with a precise reason as to why E*Trade is making it very difficult to activate this account.

    • Initial Complaint

      Date:12/07/2023

      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.
      I have been the customer of Etrade for at least 4 years and have an IRA account with them. I manage and perform the trade on my account by myself. The always notify me by phone messages and emails with all of the activities on my accounts. Suddenly on December 5, 2023, they made my account disappear along with all my money and equities in my account. I called them to discuss the problem with 4 different customers service representatives. They all did not know why Etrade removed my account without notifying me and they did know the reason. One of the representatives told me that my account will be reopen by Etrade on December 6, 2023 by the end of the day. I am still waiting to see if it will be reopen as promised.

      Business Response

      Date: 12/20/2023

      December 20, 2023

      Better Business Bureau (BBB) Serving Metro Washington DC and Eastern Pennsylvania
      Dispute Resolution Team
      [email protected]

      To Whom It May Concern:

      This letter is written in response to your email of December 7, 2023, regarding Better Business Bureau (BBB) Complaint #********. Thank you for forwarding **** **’s communication to us. We appreciate the opportunity to address this issue. In accordance with our duty to protect client confidentiality, we will respond directly to the client.

      Sincerely,

      Compliance Department
      E*TRADE Financial, LLC

      Business Response

      Date: 01/30/2024

      January 30, 2024

      BBB serving Metro Washington DC
      and Eastern Pennsylvania
      Dispute Resolution Team
      [email protected]

      Re:       BBB File Number ********

      To Whom It May Concern:

      I write in response to your December
      7, 2023 letter to ***** ********** 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 secure message to *** ** on January 30, 2024.

      Sincerely,

      Compliance Department
      E*TRADE Securities LLC 

    • Initial Complaint

      Date:12/05/2023

      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 have tried to sell my stock and roll an account over from E*Trade. Every time I try to leave their service, they do not allow it and say there is an issue with my account being locked. I have called them more times than I can remember over the last year and last time I spoke to them they said they would release the hold on my account and allow for it to roll over. I have no outstanding debts or dues with E*Trade. They simply refuse to fix my issue and let me leave. I have been unable to sell my stock and now that stock has decreased in value.

    • Initial Complaint

      Date:12/01/2023

      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.
      Out of the blue E*trade blocked access to my account. I am unable to trade, transfer money out of my account or close my account. I have been on the phone with customer service every day for a week straight. They tell me the same thing they will call me back. I never receive a call back and nothing changes to my account. Terrible company with terrible online reviews. Upon speaking with another E*trade customer it looks like they locked him out of his account that was under 25k. E*trade must be losing money since they are holding their customers money hostage. I want my account closed and I want my money sent to me.

    • Initial Complaint

      Date:11/30/2023

      Type:Billing 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 November 15th 2023 my Social Security deposit was direct deposited into my checking account at E*TRADE ****** *******, I attempted to transfer money to a linked bank account online linked to this account and was unable to do so with a message popping up to contact E*TRADE ****** ******* and a number ************. I did so and was told my account has been temporarily locked and the customer service agent and I went through a lengthy process of about an hour and a half setting up each and every required security measure required by the company and was told my account was now active again. I attempted to use my debit card to pay a bill online and it was declined three times, so I called back to E*TRADE to find out why and was told I needed to submit more documentation to verify my identity, I was asked to submit via DocuSign online my Drivers license front and back, my social security card front and back as well as a letter of direction stating that I feel I might have been a victim of identity theft. I did all of this through the E*TRADE.com/formsanddocuments web page and was told to allow three to five business days for review of these documents. I called back in on Friday, 11-17-2023 to check on the review status and was asked to resubmit each document previously requested and submitted again along with verification letter from the ******************************* I was unable to log into my SSA.gov account and was directed to ask for a pin number to be mailed in **** business days to access the account. I explained this to the E*TRADE agent on the phone, and that I had the letter from the ****************************** verifying I had changed my direct deposit to E*TRADE ****** ******* with the dates and amount of first deposit and was told to submit that letter as well as a selfie of me holding my drivers license for proof of identity, I did as instructed and waited on the call until the agent had received the documents. Today is 11/30/2023 and I still no $$$!

      Customer Answer

      Date: 12/30/2023

      The bank has finally released the funds to me.

      Thankyou

      I still feel the complaint was valid for the reasons stated and would like the banks behavior noted to protect future possible clients

      Business Response

      Date: 01/08/2024

      January 8, 2024

      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 December 30, 2023. 
      This matter has been reviewed, and it is confirmed that your concerns have been resolved.
      As a regulated financial institution, MSPBNA is required to comply with various rules and regulations governing the collection and release of customer information. We are
      prohibited by regulation and MSPBNA’s internal policies from disclosing non -public customer information to non-affiliated third parties, including the Better Business Bureau.
      This prohibition extends to any description of a customer complaint or its response because any meaningful discussion of the complaint would generally require the
      disclosure of personal information about the customer and his or her finances.
      A more detailed response to your concerns was sent to you by the Compliance Department on December 15, 2023, through the Consumer Financial Protection Bureau.
      MSPBNA 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:11/29/2023

      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.
      My account was restricted for 90 days for to many day trades. Its been 4 months so the restriction should be removed. Etrade is telling me that I can only remove it if i deposit 5169 by dec 4 or it stays even though the time is up. They are claiming that will remove the violation. But ******* ****** told me depositing funds doesn't remove violations. I did 1 day trade yesterday after the 3 months of restrictions was up which is legal to do. My account is now restricted from trading they are claiming even though its been over 4 months with no day trading im still in 90 day restriction unless i pay them 5169 in deposit. 

    • Initial Complaint

      Date:11/28/2023

      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.
      It took several months to set up my account with E*TRADE. I am now trying to fund my account but after 90 minutes of calls with 3 different representatives today there is still no resolution. I am done with the rubber glove service. A manager needs to assist me linking an external account so that I can fund my new Etrade accounts. If its this hard to GIVE Etrade money how hard will be when I want to withdrawal money? Please review the notes on the account and a manager needs to call me.

    • Initial Complaint

      Date:11/27/2023

      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.
      Hi. I hope today finds you well. I cannot log in to my account because I changed my phone number. Does not allow me to enter my account by entering my new phone number. **************** is unresponsive. Used to be ***************** Now it is ***************** Please let me into my account.

    • Initial Complaint

      Date:11/21/2023

      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.
      I opened an account a few months ago and was disappointed with the service. So i tried to transfer my stocks into my fidelity account. I received a message saying due to unusual activity my account is temporarily disabled. I called and spoke to a representative. They told me due to numerous attempts of trying to get a hold of me the account was disable because they need multiple forms of identification in order to re-enable the account. This is a lie. I never received any type of alerts, emails, phone calls nothing. Anyways, I uploaded the needed documents 3 weeks ago and my account is still frozen and somehow it is more frozen then it was, because now I can't log into to it. Please unfreeze my account

      Business Response

      Date: 12/20/2023

      December 20, 2023

      Better Business Bureau (BBB) Serving Metro Washington DC and Eastern Pennsylvania
      Dispute Resolution Team
      [email protected]

      To Whom It May Concern:

      This letter is written in response to your email of December 2, 2023, regarding Better Business Bureau (BBB) Complaint #********. Thank you for forwarding ******* *****’s communication to us. We appreciate the opportunity to address this issue. In accordance with our duty to protect client confidentiality, we will respond directly to the client.

      Sincerely,

      Compliance Department
      E*TRADE Financial, LLC

      Business Response

      Date: 01/12/2024

      January 12, 2024

      BBB serving Metro Washington DC
      and Eastern Pennsylvania
      Dispute Resolution Team
      [email protected]

      Re:       BBB File Number ******** 

      To Whom It May Concern:

      I write in response to your December
      2, 2023 letter to Brock Williamson 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 secure message to *** ***** on January 12, 2024.

      Sincerely,

      Compliance Department
      E*TRADE Securities LLC 

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

    To become accredited, a business must agree to BBB Standards for Trust and pass BBB's vetting process.

    Why choose a BBB Accredited Business?

    BBB Business Profiles may not be reproduced for sales or promotional purposes.

    BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.

    When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

    BBB Business Profiles generally cover a three-year reporting period, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.

    As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.