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

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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 status

    Complaint type

    • 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).

    • Initial Complaint

      Date:07/24/2023

      Type:Product Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have been trying to obtain and distribute funds from my fathers estate for five months. Etrade refuses to distribute these funds.

      Business Response

      Date: 08/22/2023

      August 22, 2023

      To Whom It May Concern:

      I am following up on your August 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 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 22, 2023.

      Sincerely,
      Compliance Department
      E*TRADE Securities LLC

      Business Response

      Date: 08/24/2023

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


      Please note that a detailed response was provided to *****************

      Sincerely,

      Compliance Department
      E*TRADE Securities LLC

    • Initial Complaint

      Date:07/21/2023

      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.
      Dear BBB,I am writing to file a formal complaint against E-Trade Financial Corporation regarding an unresolved issue I am facing with my E-Trade account.My name is *********************************, and I made a deposit of $3,700 from my client to my E-Trade account. The check was issued from ******* ****** bank and cleared in my broker's account prior to the deposit. However, approximately 48 hours after the deposit, I found that all access to my account was limited, and I am unable to withdraw my funds.It has been over four months since this money has been sitting in my account, and E-Trade is insisting that the only way to access my funds is through another three-way call between my client, myself, and his bank, ******* ******. However, during our previous three-way call, my client and I cooperated, and it was evident that the check is legitimate. Despite this, E-Trade has not provided any other alternative to release my funds.I have made multiple attempts to resolve this issue by contacting E-Trade's customer support. E-Trade is well aware of the legitimacy of the check, yet they maintain that this three-way call is the sole solution to access my funds. This process has been arduous and unyielding, leaving my funds inaccessible for an extended period.I kindly request the BBB's assistance in mediating this matter with E-Trade to ensure a prompt and satisfactory resolution. There must be an alternative solution to facilitate the withdrawal of my funds without relying solely on a three-way call, especially when the legitimacy of the check has been established.I trust that the BBB will handle my complaint with the utmost seriousness and help facilitate a resolution between myself and E-Trade.Thank you for your attention to this matter. I have attached relevant documentation, including transaction details and communication records with E-Trade, for your reference.Sincerely,*********************************

    • Initial Complaint

      Date:07/16/2023

      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 a brokerage account with E*Trade and deposited a large sum of money into this account via check.They accepted my check but then closed my account.I no longer have access to this money. I have been dealing with the company for over a month to get this money withdrawn.I have provided social security card, multiple W-2s, two formal letter of intents, and a selfie with my state ID.They refuse to tell me why they are still holding my money.This past week, when I have called, I have been hung up on or told they do not know what is going on.

    • Initial Complaint

      Date:07/15/2023

      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 been attempting to transfer my IRA from E Trade to another firm. All was transferred except for about $400. I have contacted E Trade twice over the past month and am promised the transfer of this type take place every 2 weeks in their system. As of this date, 7/15/23 the transfer has not taken place.

    • Initial Complaint

      Date:07/14/2023

      Type:Customer Service Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I am a senior Citizen and my husband (76 years old) is a Cancer Patient who has undergone an open heart Surgery. I hold 1100 **** ADRs with E-Trade. These ADRs have been delisted in the US Market and the **** ****** have issued specific guidelines how to Transfer these shares to the Beneficiary account held with another brokerage agency outside USA. The **** ****** have announced that the cut-off date for the transfer will be July 21, 2023. I have contacted E-Trade for the transfer of these shares almost 3 months ago. I have send them all the information for the transfer more than two weeks ago. I have been contacting E-Trade for the followup every day for the past two weeks. Unfortunately every time I call the customer service an agent from an unknown location, who (most of them have no knowledge how this transfer need to be done) takes considerable (hours) amount of time to identify the nature of the issue and then provides with a simple answer that necessary action has been taken and the issue will be resolved in 5-7 business days. The next day when you call the E-Trade Customer service the same sequence of events takes place which end in total frustration and disappointment. I have also send all the relevant documents to the E-Trade Securities LLC, ********** ** *** ****** ******, Suite ***,Jersey City, NJ ***** - Attn Head of Grievances Dept on July 07, 2023 but there was no response. It looks like no one has the slightest idea of the procedure or keen (except one or two who did try to find a way to resolve the issue but wasn't successful) to help. Most of them even didn't want to connect you to a supervisor or manager or even give the Head Office contact number. If this transfer (which is in fact a very simple operation and should not take more than a few minutes) doesn't take place in the next 2-3 days I will incur substantial financial losses and consequent mental agony and stress. Kindly help. Thanks ************************************** : ************

    • Initial Complaint

      Date:07/13/2023

      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.
      Sumary of issues wiht Etrade:1.) Overcharging fees 2.). Disguising the margin balance as cash -when it was margin cash. Making massive fees. 3.) The shell game with employees and letter writing. Etrade failed to address legitimate concerns. 4.). Not paying massive dividends. Messing a rights offering 5.) Freezing account based on deception. No margin. No equity call.6.). Deceptive Reps and letters. I delt wiht in access of 20 Reps many who are under review in the ***** broker lookup

    • Initial Complaint

      Date:07/11/2023

      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 January 2023, I opened my account with eTrade  (Individual Brokerage *****) after being promised $1500 of promotion cash for transferring in cash of 500k or more. Despite attaining this level, eTrade only credited $600 to my account in lieu of the promised $1500. I spoke to *********************************** (the Financial Consultant assigned to me by eTrade) on multiple occasions regarding this issue. Each time he confirmed that I had met the threshold and was owed the full amount of the promotion. He promised that he would ensure I received the missing funds shortly. Then, on 6/21 my email to him, reminding him that i hadn't received the promised credit, was returned with the message: "You have reached an email address that is no longer in use." A few days ago I called eTrade's main customer service number and was again assured by the agent that eTrade would launch an "investigation" and thereafter I would receive my missing credit. But, sadly, that has not yet happened.

    • Initial Complaint

      Date:07/10/2023

      Type:Product Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      My mother passed away and left a small amount of money to me in an E*trade acct. it’s been 8 months and I’m still trying to get the money out. The customer service is atrocious and the amount of mistakes these ppl make is ridiculous. Every time I call I speak to a different representative who doesn’t know what’s going on. They’ve tried to wire me the money 3 separate times and each time they take out more taxes than the last. Nobody talks to anyone else and I swear they are doing it just to keep the money in their accts.. I’ve personally lost $4500 on a down payment for a car that they promised I would have the money for 6 days after the first transaction.. the level of incompetence is astounding for a company as big as they are. Pretty sad they can’t even level with their customers.. I’m absolutely fed up with the lies and no concern for their customers.. I would NEVER recommend their services to ANYONE!!!!!!

    • Initial Complaint

      Date:07/07/2023

      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.
      E-trade recently changed account access rules. The account, which I have had for years, I can no longer access because they now require a text message authentication. I do not have a cell-phone!, nor did they make that a requirement when I set up my account! I called, they would not work with me and wanted me to send them private information (license, ss-info etc) vie mail. First, this is information they already have, second why after many years can I not access my account. More importantly, its risky! Not to mention why do I have to jump through all these hoops to gain access to an account I have had for many years! This is not fair, and is wrong. I have not been able to make trades for 3 weeks now and I will NOT be sending photos to anyone just to access this account. 7-07-23

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

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