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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

    • 507 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 type

    • Initial Complaint

      Date:08/20/2023

      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.
      Request for asset transfer was submitted on 7/17/2023. The request was done in writing and submitted on the form required by Etrade. As of 8/20/2023 the transfer has not been done. In the interim, my calls to inquire about status have yielded 3 different excuses. First, that there was an "issue" with the form. The agent looked at it and confirmed no issue. Second, that it was "delayed" due to the pending takeover by JPM and that it was being "expedited." (that was 3 weeks ago). During the call I found out that they had actually input the value of the transfers incorrectly and had to correc their own error. The latest message said more information was needed, and the agent says that now the request has not been done at all because the transfer is going to external accounts not in my name. This is an external asset transfer, meaning, Etrade has to release money to ********. I believe they are holding on to assets by delaying transfer requests and doing it intentionally in order to increase the book value of their assets before the JPM Acquistion. After 6 weeks of excuses they are telling me they will "resubmit" the reuqest -again. I am unable to access these assets myself, nor are they accessible by the recipients. So they are essentially holding my money for ransom.

    • Initial Complaint

      Date:08/16/2023

      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.
      Trying to get my late father ‘s account transferred. I have provided all the documents asked of me. It is now August 16, and I still don’t have an answer as to why it’s taking Etrade so long or even a timeline as to when the transfer will be completed. I have been given excuse after excuse. I have asked for a management phone number or contact information and have been ignored. I have made many attempts to get this information. In addition to emails, I have called many times to the Estate department and each time it is a minimum of an hour just to be given an excuse as to why this transfer is not completed. One of the excuses is that you are going through some kind of internal changes. I ask you, how is that my problem? I was recently told that they need some additional pages of my father's trust. They said it was a page or so missing. Keep in mind, I provided that I provided the trust documents in June. Are you telling me that your team is JUST NOW looking the documents? I am dealing with is all the while grieving the loss of my father. Etrade is holding my money hostage at this point, and I am being harmed financially.

      Customer Answer

      Date: 09/10/2023

      Hello. The business resolved the issues. Please close the complaint. Thank you. 

    • Initial Complaint

      Date:08/15/2023

      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 back with a $500 deposit. I have $486 now in my account and all I want is my account to be unrestricted so I can transfer my funds back into my personal account. I had someone else help me with my trades. E*TRADE then put a restriction on my account. I spoke with several customer service agents and continue to get different stories without any help. They sent my account to the fraud dept. It has been weeks now. I forwarded all the information that was requested The first rep said I need to verify my identity and send my ID and indicate that in a short statement indicating that I will not have anyone access my account in the future. If I do have someone access my account, then I would need to have the other person sign an agreement/form. I DID all this. First, my ID did was not clear enough. I corrected it etc and still no one contacted me. I had to call several times to get and different answers. Finally, ***** ********* verified my new uploaded documentation and confirmed it was good and valid, Then I spent an hour on the phone as she connected me with my bank to verify my account was legitimate and in good standing. ***** told me it would take 3-4 business days for my funds to process to my bank account. No progress and no communication so then I also spoke to **** and could not understand what is taking so long as he also verified my information was valid and I did everything correctly. Then, I spoke with another rep and I asked him to speak with a manager. He put me on hold and told me he spoke with his supervisor, *********, who told him, the information would be the same so there was no transfer. When I asked to speak with *********, the rep told me she wasn't working. LOL....This is unbelievable. This is INSANE. I did nothing wrong and supplied them with the correct documentation. This is wrong and unacceptable and I want my money back with an apology. I can't believe they can hold your money like this. FRAUD!

      Business Response

      Date: 09/20/2023

      September 20, 2023

      Dear *** ******:

      On behalf of E*TRADE from Morgan Stanley (E*TRADE), this letter is in response to your correspondence to the Better Business Bureau (BBB) which was received by
      E*TRADE on September 2, 2023.

      Please note that a detailed response was sent via mail by the Compliance Department on September 20, 2023. If you still require assistance, you are encouraged to contact
      Customer Services at 1*************.

      Sincerely,
      Compliance Department
      E*TRADE from Morgan Stanley

    • Initial Complaint

      Date:08/11/2023

      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.
      In 2015, when I retired, I closed my E-Trade account which had been set up by my employer. I was sent a check. Ever since then I have received a statement every couple of months stating that I had a balance of 1 cent. Since then I have called them more then 12 times to get this account closed with no success. In July I contacted them and told them to close the account and keep the 1 cent. A week later I got a check for 1 cent. That was followed by a statement showing a zero balance. Today August 11, 2023 I get a statement showing a minus 2 cents and that I owe them. I want this account closed. I want no further contact from them. No further statements. I consider this harassment and will take legal action if they attempt to contact me by phone, email, or mail. 8 years of harassment is enough. I have contacted my lawyer and the ** Attorney General.

      Business Response

      Date: 09/13/2023

      September 13, 2023

      On behalf of E*TRADE from Morgan Stanley (E*TRADE), this letter is in response to BBB Case ID ********, which was received by E*TRADE on August 30, 2023.

      Please note that the reported issue was resolved. If assistance is still required, please contact Customer Services at ###-###-####.

      Sincerely,
      Compliance Department
      E*TRADE from Morgan Stanley

    • Initial Complaint

      Date:08/11/2023

      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.
      In conjunction with the impending transfer of brokerage accounts from etrade to ****** *******, etrade sent out a notice (available at: ******************************************************************) that outlines the steps existing etrade account holders can opt-out of the move to ****** ******* and move their accounts to another broker WITHOUT ANY TRANSFER FEE.On 6/30/2023 I called etrade and spoke to agent **** and advised her of my intention to opt out and she said she would mark both of my accounts as eligible for no transfer fee.On 7/24/2023 I initiated the full account transfer to ****** brokerage of two etrade accounts. The transfer was completed on 7/26/2023 but etrade deducted $ 150.00 ($ 75.00 x 2) as the transfer out fee.On 7/27/2023 at 10:15am I called etrade about this mistake, spoke with agent *******************************, and was told that he initiated a fee reversal on both accounts. He stated it would process in 5-7 days, and in any event if it hasn't posted by August 7th at the latest to call back and customer service would post a manual credit to the accounts. No fee credits were received by 8/10/2023 so I again contacted etrade, this time I spoke with agent ************************* who stated that he checked with "the processing department" and they said they had not completed the reversal yet. He could not give any timeframe for completion, only to say to check back in a week or two as they post credits once a week only. This is unacceptable. E-trade fraudulently charged these accounts transfer fees when there should have been none, failed to timely credit the error when it was brought to their attention, and now they are stalling for more time on what should be a simple matter. I request a credit of $ 150.00  applied to my etrade accounts.

      Customer Answer

      Date: 09/14/2023

      I would like to report that I have received a written response from the business on September 11, 2023. They have acknowledged their error and credited my accounts in full. You may close my complaint as completely resolved to my satisfaction.

      Thank you for your assistance in this matter.

    • Initial Complaint

      Date:08/07/2023

      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.
      E*Trade restricted my savings and brokerage account on June 30, 2023 stating my account needed more information for verification. It is now August 7th, 2023. Ive given them the information they requested in full. Now Ive called and spoken to ten or twelve E*Trade representatives over the past three weeks with no resolution. They dont need anything else from me, Im just waiting for the restriction to be lifted while money that I need to transfer is being locked away from me.

      Business Response

      Date: 09/08/2023

      September 8, 2023

      Dear *** *****:

      On behalf of E*TRADE from Morgan Stanley (E*TRADE), this letter is in response to your correspondence to the Better Business Bureau (BBB) which was received by
      E*TRADE on August 25, 2023.

      Please note that a detailed response was sent via mail by the Compliance Department on September 8, 2023. If you still require assistance, you are encouraged to contact
      Customer Services at 1-************.

      Sincerely,
      Compliance Department
      E*TRADE from Morgan Stanley

      Business Response

      Date: 09/15/2023

      September 15, 2023

      To Whom It May Concern:

      I am following up on your September 14, 2023 letter to ***** ********** requesting a response to Lamont White’s complaint in the above-referenced matter.

      Unfortunately, we are prohibited by Securities and Exchange Commission Regulation SP 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 *** ***** on September 8, 2023.
      Sincerely,
      Compliance Department
      E*TRADE Securities LLC

    • Initial Complaint

      Date:08/03/2023

      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 contacted Etrade numerous times todate the moneies I attempted to invest has not been returned. This account was open with the hopes of me learning & investing this entire experience has been exhausting & my funds have not been returned. The amount is about $3000.00 plus interest. I am unable to login due to fraud, I cannot account accurately what they owe me. If they felt this was fraud they should have returned every penny to my originated account. Its been over a year and I have not received my funds. I contacted 6/15/23Etrade Customer service ************, I was advised in order to receive my money back I need to submit a bank statement, a letter requesting my entire funds returned & a copy of my drivers license. All info was uploaded via their website & I waited to receive my funds, nothing. contacted 7/17 /23ETrade Customer service again s/w *** who advise me I need to submit my bank statement from my original deposit account, Why wasn't this told to me previously another delay tactic. He advise I can send a screen shot with the entire account number, sent a bank statement with the entire account number listed & a screen shot, all info was uploaded via Etrade site. Todate they have not returned any of my funds. I called 8/3/23 & was advised I need to send a letter requesting my funds, please help me understand they claim the account was open with activities when I should have just been informed I could not use acc.There is no fraud, provide me the money I attempted to invest with this business. I was given acct # to list on the doc that I uploaded only to be told the acct # is not valid. I sent with good intent to invest for a first time investor. The account is closed & my funds has Not been returned. I have attempted to resolve this matter with the company & to date they have not returned my funds, I keep being told to send a letter with intent, the same letter they confirmed they received with my driver license and my bank statement

    • Initial Complaint

      Date:07/31/2023

      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.
      E-Trade banking - 3 1/2 weeks and still no ATM card for a 23 year old account. 7/7 Requested an ATM card for a card that expired 2 months prior and didn't receive a replacement for. Could not do this online. I had to call. Was told 7 - 10 working days.7/21 Called because I had not received my ATM card. The person said he would ***** and wave the fee. It would take 2 days. 7/25 Called to inquire about my card. The person said it would take 3 - 4 days and that she could cancel and send another one. I said I would wait until another couple of days and call back if I did not receive it.7/27 Called to inquire about the card because I had not received. Was told they could not ***** and I had to wait another week in order to receive the card. I asked to speak to a surpervisor who told me the card was not sent ***** but was sent regular mail to my street address where I DON"T receive mail. He then said he could not cancel the current card, some issue with the workflow but would work with Banking Operations the next day to cancel the card and issue a new one.7/30 Called no update. The Customer Service had no clue what he was talking about.7/31 Called. Too much conflicting information to describe. Was told they could not send to a PO Box number, had to send to street address and essentially I could not get an ATM card. There was no way around. Was told ***** was not option. Called back. Was told by another agent to write a letter to request ATM card to be sent to PO Box. In the process of talking to said Agent, she hung up. I called back after uploading letter and ID. Very similar situation to 7/27 where he could not issue a new one until the card on 7/21 was cancelled. I have to wait 3 - 5 days to see if it has closed out on its own then call back and request a new one. And possibly go through the process of trying to get a another card issued.Is it so difficult to issue an ATM card.

      Business Response

      Date: 09/29/2023

      A detailed response addressing the customer's concerns has been sent through their online account.

    • Initial Complaint

      Date:07/28/2023

      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.
      On 10/18/22 E*Trade charged my account $117 based on "TY 2021 **** FEDERAL TAX DUE FORM ****". The **** form was compiled with numerous errors, blanks and $0 dollars "cost or other basis". My real numbers from *** forms prove that I incurred just combined losses, no gains whatsoever. As per E*Trade request I supplied to them all requested K-1 forms. During 10+ months E*Trade Tax Department and customer service are giving me run-around on my numerous emails and calls, telling me that it is "in review" and I'll receive a response in 3-5 business days. I even received a call from E*Trade VP office, telling me that "they are taking such issues very seriously and I'll receive a comprehensive written response in 10 business days". It was 3 months ago - none. I've even uploaded to E*Trade the tax forms, including corrected ****, compiled by my tax advisor, who is happened to be a partner in high-ranked audit company. My case is still under review - that is E*Trade regular response. The latest emails are attached.

      Business Response

      Date: 08/31/2023

      August 31, 2023

      To Whom It May Concern:

      I am following up on your August 12, 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 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 *** ************ on August 31, 2023.

      Sincerely,
      Compliance Department
      E*TRADE Securities LLC

    • Initial Complaint

      Date:07/24/2023

      Type:Order 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 a complaint regarding Etrade’s procedures to file the recent ***** forms with the IRS on behalf of IRA owners. I am an IRA owner who was notified that I owe UBTI (Unrelated Business Income Tax) and it will be deducted from my IRA cash or if insufficient cash, holdings will be sold to satisfy the UBTI payment due. When I requested a copy of the ***** to check the math, I found their tax preparer’s error of omission of a previous year carry-over loss. The correct UBTI therefore amounted to $1,720 less than the tax preparer’s calculations. In other words, if the tax preparer had all the *** I had downloaded to Etrade last year, the ***** for 2022 would have been done correctly. I do not fault the tax preparer, I fault the manner in which *** are downloaded and disseminated to *** by Etrade. It is Etrade’s responsibility to disseminate all appropriate *** for each IRA account to ***. I informed Etrade my ***** for 2022 needs to be amended because of missing ** losses (I had uploaded five years’ worth of ** data during the past year). No one has informed me that an amended ***** will be done and no one has assured me that the overpayment will be credited back to my IRA account. I amended my 2022 ***** in three hours and uploaded it with supporting documents to Etrade to make their job easier. If I can amend a ***** in three hours, why can’t ***-Etrade amend my ***** in one month? Unfortunately, IRA owners cannot file this form, it must be electronically filed by Etrade. Thus, my hands are tied; only Etrade’s tax preparer can electronically file the amended *****. And because the burden of organizing uploaded *** and passing them onto *** (their tax preparer) falls on Etrade, this disorganized paperwork is causing *** to incorrectly prepare *****s and as a consequence, delaying amended *****s as well. This is punitive to IRA owners when *****s are filed. Etrade owes me an amended ***** and $1,781 (includes overpayment of penalties and interest).

    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.

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