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E*Trade Complaint - Close you account while yo can

Complaint
Review by smarchand8 on 2011-08-07
I had several accounts with E*Trade. Nothing was on margin and no checks every bounced. They closed out all my accounts on me. Customer service said you will get something in mail explaining why. Well later came and it was basically we reserve the right to close out you account at any time for any reason. 2 weeks later I'm still chasing my money from them and the customer service has no clue. FDIC will not do anything because they say it is a OCC issue. OCC will not get back to me. So now I'm waiting till they decide it is a right time for me to have my money back. I will just make sure I let everyone I know about the problems I have had with them. Maybe they will not join or will switch their accounts elsewhere. This is a poorly run business.
Comments:
Posted by Alain on 2011-08-08:
There are similar complaints about ETrade here and on other sites. You can try going to http://www.sec.gov/complaint/select.shtml and see if the information there is helpful to you.
Posted by 123 on 2012-09-12:
eTrade has advised that something is wrong with my 1099, and therefore they are going to classify my 501(c)4 as a S Corporation. They further allege they are going to take out unauthorized withholding from my S-Chapter corporation. eTrade should be shut down for dishonesty and theft. My advice is take your money out of there and run as far a way as possible. I am growing increasingly distrustful of the US as a place to keep your money and it is getting worse. We have absolutely no regulatory protection whatsoever. The FCC, SIPCA, and FINRA are only there to protect the companies they regulate. They could care less about the public.

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