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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

    • 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:06/20/2023

      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.
      E*trade estates department has transferred two IR accounts to my name after my husband died Oct 21, 2022. They have all required documentation. They have still not transferred the individual account to me. They ask for the same documents again and again. They have hung up during phone calls. My original case manager quit or was fired and I was not informed. I keep getting the run around. I want them to finish the job and transfer the account to my name.

    • Initial Complaint

      Date:06/19/2023

      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 closed my account months ago due to fraudulent activity on my account. The company sent me a check for the balance.Now I am getting monthly statements saying I owe a balance.

    • Initial Complaint

      Date:06/19/2023

      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.
      Etrade froze our debit ATM cards without prior notice and after multiple requests within a two factor logon to Etrade they insist we have to call in and go through a "security" process on the phone. They have not explained why the cards were frozen but it's not a lack of funds issue. Not going to wait on hold for extended periods and be transferred multiple times to resolve this.

    • Initial Complaint

      Date:06/10/2023

      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.
      Dear Sir/Madam, We (Me & my wife) are filing a complaint against E*TRADE Financial for mismanaging our funds and closing our account(s). Here are the details: Funds Misappropriation: $668,000 USD was fraudulently transferred from our E*TRADE trading account to ******** *** and an unauthorized recipient on multiple dates (9/7/22, 9/9/22, 9/12/22, 9/14/22, 9/20/22, 9/21/22, 10/26/22). These transactions, involving cryptocurrencies, exceeded $100,000 USD each. Loan/Line of Credit: We utilized a loan/line of credit from our stock plan account and deposited the funds into our bank account. The customer service rep suggested transferring the funds from bank to brokerage account, and from there, they sent to ******** ***. Throughout these transactions, which involved amounts exceeding 100,00 USD or me, we did not receive any warnings or alerts transferring to crypto platform. This indicates a flawed system, inadequate AML controls. Dispute Letter and Lack of Cooperation: Despite submitting a dispute letter, E*TRADE has provided no meaningful assistance or taken appropriate action. Their lack of cooperation has left us with no recourse. Account Closure: E*TRADE has closed our accounts following the dispute letter, resulting in disruptions to our trading activities and additional losses. We transferred our assets and loan to another institution after a month. Requested Actions from E*TRADE: 1) Conduct an immediate investigation and take proactive measures to recover the misappropriated amount. 2) Provide appropriate compensation for the financial losses incurred. 3) Review and enhance security protocols to prevent similar incidents. 4) Maintain transparent communication and provide regular updates on the investigation and case resolution. Please note the lack of adherence to KYC, AML, and CFT regulations, raising concerns about the org's legitimacy and potential involvement in criminal activities. Thank you for your attention, and we hope for a prompt resolution.

    • Initial Complaint

      Date:06/09/2023

      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.
      Over the past week I have spoken with 5+ people over the phone to draw my funds and close my E*trade account. The representatives wholly refused to cooperate, as they seemed more than happy to be aggressive and rude to their customer.On 6/8/23 I spoke with a representative who stated I will receive a call on 6/9/23 at 8:30AM to cancel the account. I never received a call, and instead called them. After providing all necessary information, they denied assistance. I have exhausted all resources to close my account. Horrible business practice to steal money and refuse closure service.

      Business Response

      Date: 06/29/2023

      June 29, 2023

      To Whom It May Concern:
      I am following up on your June 19, 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 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 *** ******* via mail on June 29, 2023.

      Sincerely,
      Compliance Department
      E*TRADE Securities LLC

    • Initial Complaint

      Date:06/06/2023

      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 retired senior citizen who has been an owner of E*Trade online stock trading accounts since 1998. I have a substantial amount of my retirement savings ($100K+) in these accounts. I am also a small stock holder of E*Trade (now Morgan Stanley). I AM CURRENTLY LOCKED OUT OF ACCESS TO MY ACCOUNTS (2 stock, 1 IRA, 1 bank). Why: because I don't have (and don't want) devices that support text messaging. E*Trade recently implemented a 2 factor authorization at logon which requires that the user receive a security code ONLY BY TEXT MESSAGE. I have 45 years of computer software development experience including very low level networking experience. I know in detail how text messaging works under the hood. I MAKE DELIBERATE CHOICE NOT TO USE TEXT MESSAGING and NOT TO USE A SMART PHONE. I have reasons for these choices. I have several other accounts at financial institutions and government agencies (********, SS IRS) and every one of these provides an alternative security code delivery mechanism - voice call or email as options. I have checked other online stock companies and most provide at minimum voice delivery as an option. I have often received a voice call security code - I have a VoIP landline equivalent for voice calls. I spoke to E*Trade customer service supervisor (**** ******) who told me he cannot disable 2 factor authentication and he cannot generate a security code and tell me. Basically: too bad. The logon web page which requests the security code (via text message) gives the user a link to request an alternate verification mechanism. When I click on that link I am directed to a web page that ask for a MOBILE phone number - but only so it can send that number a text message. E*Trade has no legal right to require me to use a mobile device with texting support as a condition of accessing accounts I have owned for decades. I never consented to such a requirement . There were no such requirements stated when I opened accounts.

    • Initial Complaint

      Date:06/03/2023

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      E-trade linked someone else's bank account to my brokerage account. I called them to report the massive privacy issue and they locked my brokerage account down for 5 days while they investigate their failure. Meanwhile, I have stocks that are down significantly that I need to sell asap or I will lose thousands of dollars. I want an account credit or cash for the amount of money I lose between now and the time at which I am able to sell my stocks to cover my losses incurred by e-trade's privacy and financial failures.

      Business Response

      Date: 06/27/2023

      June 27, 2023

      To Whom It May Concern:

      I am following up on your June 5, 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 *** ********* via mail on June 27, 2023.

      Sincerely,
      Compliance Department
      E*TRADE Securities LLC

    • Initial Complaint

      Date:06/01/2023

      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.
      1/24/2023 I opened an account to have my late husbands account balance transferred as I am the beneficiary. I have made numerous calls since then as it was not done. I keep getting I will submit this to my supervisor to expedite the process! They keep telling me it is scheduled to transfer next week. But then it gets cancelled for some reason with no explanation! This is ridiculous! It is now June 1, 2023 and nothing has yet to happen. I was told yesterday by a customer service agent in Beneficiary services that this is happening a lot! All the meanwhile my money is not earning any interest. They have free use of my money! Not fair and not right!

    • Initial Complaint

      Date:05/29/2023

      Type:Sales and Advertising 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.
      ETrade is attempting to steal and keep my money that is was sent to the brokerage account by my ***************** ***** bank. The reason for ETrade keeping my money is because they claim I need to verify my ***************** bank account (the same bank account that was direct deposited the money into the brokerage account to begin with). They are asking for my SSN number and card as well, which makes me uncomfortable.

      Business Response

      Date: 07/10/2023

      July 10, 2023

      To Whom It May Concern:

      I am following up on your June 14, 2023, letter to ***** ********** requesting a response to ****** ***** complaint in the above-referenced matter.

      Unfortunately, we are prohibited by Securities and Exchange Commission Regulation SP and ****** *******’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 *** **** via mail on July 10, 2023.

      Sincerely,

      Compliance Department
      E*TRADE Securities LLC

    • Initial Complaint

      Date:05/19/2023

      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 inherited an estate account when my father and mother passed away. I have tried, multiple times, to transfer the money from the e-trade account to my account at another financial institution. Each attempt was rejected by e-trade without them contacting me for an explanation. When I contacted them, their customer service staff advised of what was needed. The transfer request was re-submitted after following their direction and was rejected again. This has happened 4 times now. They have refused to let me speak directly to a supervisor and no one there can provide me with the correct answers. I want them to transfer the money as requested immediately.

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

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