Financial Institutions/Services - E-Trade

ProgramCritique.com Review:

E-Trade is famous as an online stock brokerage firm offering other financial services too. E-Trade’s web site at etrade.com allows investors to buy or sell stocks, mutual funds, bonds, options, or exchange traded funds. William A. Porter founded E-Trade as Trade Plus at Palo Alto, California in 1992. Different subsidiaries of E-Trade include E-Trade Bank, E-Trade Securities LLC, E-Trade Clearing LLC, etc. E-Trade stock is in public trade at the New York Stock Exchange as ET. National Association of Securities Dealers provides license and regulates working of E-Trade.

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Day traders benefit through discount brokerage, which is the stock brokerage for self-directed investors for small fees or charges. E-Trade offers various services to investors like trading account, research account, PEP account, trading account, and company accounts. E-Trade’s web site offers a hoard of useful information to the investors to take proper financial decisions. It is easy to navigate through the web site as you have a plethora of tools to guide you. Additionally, you can take help of customer service through e-mail, fax, or telephone.

However, there are many complaints against E-Trade as their customer service is horrible and nonexistent. Every call is on hold for long periods like thirty minutes. No one is knowledgeable enough to answer any of your queries or conduct any of the operations you request them to do.

Similarly, there are excessively long delays in executing check receipts, transfer of funds, etc. at E-Trade. There is total lack of coordination between employees and every time you call to know status of your request, you need to repeat it again. All attempts remain futile and you muse over having opted for such an irresponsible service provider.

Former employees confirm most of these complaints as many quit their jobs at E-Trade, as they have to lie constantly to customers regarding any queries. All their systems are forever down and nonfunctional and hence most of your trades do not mature at all. Employees at E-Trade do not receive their wages and are constantly under stressful and overworked situations. Besides, E-Trade at times does not allow you to access your account unless you accept their new terms, whether they are acceptable to you or not. Overall, it is best to stay away from E-Trade.

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