E-Trade Sucks Customer Reviews and Feedback
E*TRADE Financial Corporation (stylized as E*TRADE) is an American financial services company that offers an electronic trading platform to trade financial assets including common stocks, preferred stocks, futures contracts, exchange-traded funds, options, mutual funds, and fixed-income investments. It also provides services for employee stock ownership plans, student loan benefit administration, advisor services, margin lending, online banking, and cash management services.
Regina of Blacklick from OH, shares some thoughts about E*TRADE in a review for CONSUMER AFFAIRS website: I don't know what's going on with e*Trade but they need to get their act together and FAST! They are messing with people's money and ultimately their livelihood. I was simply attempting to reactivate an old account and could not get reset credentials sent to me (I tried no less than five times). No one answers their phones or via chat. I see others who have posted here about the lack of responsiveness. I recommend anyone who has money tied up with Etrade file a complaint with the FTC.gov and/or Securities Exchange Commission.
Former Employee - Development Staff Manager says"a lot of antiquated technology like BEA websphere, tendency to blame lower ranking staff when projects go awry, tendency to under staff projects and overwork employees continuously, too many upper managers are remote and hands-off"
Former Employee - Financial Consultant says"high goals, poor leadership,"
Former Employee - Anonymous Employee says"Where to start - one of the worst companies I have ever worked for. The management is terrible! The people you work with are terrible! Location was terrible! Solutions are terrible! Mentality is micromanagement till you leave the company. You don’t give your employees real time Market quotes. The list goes on and on. Save yourself enormous stress and don’t work here. I had high blood pressure my time at etrade once I left back to normal. Favoritisms are all over the place and friends are given preferential treatment. Oh and you will be calling pot stock leads all day."
Current Employee - Director says"Too much internal politics for such a small company; no cooperation across teams, operates in silos"
Former Employee - Principal Software Engineer says"There are no new projects for backend developers, not using the latest technologies; very little growth for engineers."
Former Employee - Customer Service Representative says"Seriously a stressful environment especially if you look to move into any substantial position. If you don't have a license and move into a higher position, you won't be paid more or equally with your peers. It's very high school with way to much drama. Also I was proselytized to several times by members of the local religion. It took three times complaining for anything to even be said about it."
Current Employee - Management says"Ever since acquisition of Options House the company is in downward spiral. Retail Web and Mobile Tech leadership team in Chicago is toxic. OH leadership have no technical knowledge and talk like rock-stars - with one sloppy React based web application. Intentional laying off of awesome Menlo Park employees, giving them low performance reviews - so OH leadership in Chicago can gain power. Very political environment, and creepy. The OH leadership just keeps sucking up to each other on slack and phone calls - very insecure about themselves. They've destroyed Menlo Park Engg. and people culture."
Solutions Architect says"No leadership skills from the CISO. Very disorganized. No budgeting. No prioritization. Leadership rarely addresses staff. Leader sits in his office looking at his screen all day. No skip levels"
Former Employee - Relationship Manager says"Weak Management, Lack of Management Skills"
Former Employee - Financial Services Representative says"Absolute nightmare to work at! It a call center and you will get yelled at by clients daily. Management does not care about the employees or their well being and will micromanage the heck out of you. The turnover rate is extremely as well. Get used to doing password resets, and petty maintenance issues on acccounts. Oh and the system they use is trash and goes down regularly. When that happens management will make you work through your lunch and buy pizza, what a joke! Also management watches your every move, I think kids have more freedom in high schools. They see what you look at on computers, how long your on your break, lunch etc. And if you go over your break or lunch time be ready to talk to someone about it."
Help Desk Analyst (Former Employee) says"Do not apply here. Highest turnover rate I have ever experienced. Worst 2 years of my life. Management over the Help Desk was completely incompetent and unable to provide any resemblance of a professional environment. Most unfair, biased, and preferential treatment I have ever seen in a job. Stay away from this place."
Associate Financial Representative (Former Employee) says"Pay is the Lowest you will receive from any broker or customer service firm. This company has an extreme high turn over rate. Your job will consist of sitting at a cubicle and answering back to back calls with no breaks in between. If you take longer than 20 sec between calls you could be subject to performance reviews. During high volume they will work you like a slave. No one is on the same page about howetrics work. This will be the case no matter if you get promoted. A promotion at this job is literally moving to another desk 2 rows next to you with a 1 dollar pay raise. Now I will say you can work several overtime hours but the job is a bit stressful so after about a week of working overtime, you'll regret it"
Financial Consultant (Former Employee) says"Company is a terrible place to work; technology and platforms are from the 80's. They have no clear sense of direction or what they want to accomplish since they will be bought out soon and are lame ducks until then. Management is racist and discriminates based on people's disabilities. My recommendation go to a better broker."
Manager (Former Employee) says"It just depends on where you work at the company, my overall experience was not good. They did not have flexible work hours, no remote work options. Overall experience was ok"
Registered Financial Services Representative (Former Employee) says"Underpaid and mismanaged. they tried to go online but didn't want to provide customer service. I guess it was a model that was changing the whole dynamic of the stock brokerage business."
Financial Consultant (Former Employee) says"Not a good place to work. Go to another firm. ETRADE is trying to find a buyer, so this job will likely be gone with any future merger. Cheating among peers is rampant."
Associate Financial Services Representative (Former Employee) says"The facility looks nice, some of the people are great. I worked through a temporary agency and I think the experience could have been better. best of luck."
Customer Service Representative (Former Employee) says"If you are a College student and looking to get your foot in the door to the Financial Industry this is the place to start. If you've been in the Industry for awhile this might not be the place for you.Free give a waysManagement can use training on managing their teams"
CONTRACTOR (Current Employee) says"If you like to drink and hit the bar after work this is the place for you. This place has a lot of heavy drinkers. The management sometimes come to work with the smell of alcohol. This environment survives on being a part of a click or group. If you're not in the group that gossips your career may be limited.The name of the company.Management and work hours."
Financial Services Associate (Former Employee) says"Please be weary of TSR and E*TRADE; you will not be transition into a full time E*TRADE Employee. It's all lies, They want you just to work during their busy tax season. You are just needed for the interregnumFree Coffee and TeaEverything else"
Product Manager (Former Employee) says"E*TRADE is a disaster as a business. They have very little financial acumen despite selling investments. When I was working there the entire management team was fired. I'm amazed they're still in business and I doubt it will be for long."
Sr. Financial Services Rep (Former Employee) says"Terrible work places especially customer service. Managers dont look out for employees and customers very rude and uneducated. Managers openly favor certain employees; hard work is not appreciated. Highly stressful environment,Only plus is good training and great employees.free lunches sometimes and unlimited overtimegreat health care and employees"
Fraud Specialist/ Stock Broker FSR Representative (Former Employee) says"Laid off from company twice after being there for a long time. Lack of advancement opportunities. A lot of the work if perform by Manila."
Senior Investigator (Current Employee) says"Employees can post negative comments online about other employees and receive no disciplinary actions. Management is very poor.Management is very poor"
Financial Services Representative (Former Employee) says"this company was just awful. Management would make you write up a report for taking lunch or a brake more than 3 minutes after your scheduled start time... thats right- not taking too long a lunch, but for going to lunch at 12:04, when you were scheduled to take lunch at 12:00.... because you were helping a customer.free coffeedeath by micro management"
Analysis team Lead (Former Employee) says"According to recent announcement, E*trade continue to seek the buyer for its mortgage portfolio. Be careful to consider any position that related to its loan portfolio because it may be gone in any time soon. Just saw in Bloomberg news, due to the recent improvement in mortgage market, the buyers are finally starting to consider acquire E*Trade mortgage. During these years, I also saw my site is dying because of job cuts and re-organization. Saw 3 re-orgs in 2 years. The management was definitely unwilling to contribute to it's loan portfolio instead of selling what they can sell. Budget gets more and more tight. Almost no training is provided. Works were mainly done by contractors or Temps. Management does not care about workers. Both permanent employee and contractors were let go without any reason and surprisingly this is legal in lots of state including VA. People's career was thrown in the air. E*Trade really does not care about your career or your life.Health benefits. Sometime work from homeEverything else that will hurt your career"
Financial Advisor (Former Employee) says"I'm not going to say much about the company. My views and outlook didn't align with the company's so I decided to leave. The leadership's focus was on their wallets and not taking care of their employees.NoneEverything"
Financial Service Representative (Former Employee) says"My manager tried to fire anyone that was black. They underpay, and it's a place people go if they don't have a job in the financial industryYou'll have a job some people are coolunderpaid, not flexible"
manager (Former Employee) says"The culture of this company can be summed up as "I am the boss and I do whatever I want". HR is useless - they don't listen to worker bees only to managers and up. No confidentiality guaranteed either. Some people work 12+ hours a day and some spend days browsing. If you want to feel unequal employment get in."
Associate Financial Representative (Former Employee) says"1) very corporate2) very cold personalities3) you'll be on the phone for 500+ minutes a day4) management monitors everything you do/say so you are always stressed 5) if you aren't buddies with mgmt your going nowhere6) their software is slow and outdated7) they have unrealistic expectations about work metrics8) you are underpaid for the industry9) not appreciated10) there was no enjoyable part about the jobfree food every now and thenmanagement and the job itself"
Michael says"Our review of the brokers DeltaMarket finds, that they offer day traders and investors, a simple web-based CFD trading platform. At this stage they are not offering MT5, but they do have the standard MT4 mobile apps. They offer the standard list of underlying assets for trading CFD’s, including all popular Forex pairs, Oil, Gold, Stocks and Bitcoin / Crypto Currency pairs. Margin / leverage rates on Forex pairs is up to 300:1, and Crypto leverage is a bit lower, and the spreads start at 2.8 pips on the basic trading account. Many new investors look for brokers with high leverage because they believe they will make money easier that way. However, the reality proves that trading with on high margin is extremely risky, and new traders that don’t understand the risk, end up losing their money fast."
Masoud Asbaghi says"TWO DAYS THEY KEPT ME ON THE LINE MORE THAN 6 HOURS.AND I COULD NOT REACH ANY ONE SOLVE MY WRONG BALANCE PROBLEM.SHAME ON YOUR CEO AND ALL BOARDS MEMBERS FOR YOUR DIASTER MANAGEMENT."
Charles A Thursday says"Big thanks to financialresourcellc.co for making sure my withdrawal is completed and sorted out."
Gerald Stanley says"Terrible website. Page after page of useless information. When you do find what you're looking for it often doesn't work; even simple things like check an open order for the limit price.... you can't get to it because the details button doesn't work in any browser. Cancel your order and put in a new one is your only option. Sold some shares? The net revenue calculations are completely wrong. Customer service, days later, claims the calculation can't be made, it's too complex (?!) - I did it on my iphone calculator and was within a $1 of what I actually received. I wish my company would use Fidelity instead. I use them for personal trading as well as IRA and 401K and they are sharp and fast."
Hanna says"I have been trying to move my money out of an ETrade account to a different company for three months, and every time I contact customer service I'm given a different answer about what to do. The representatives try to be helpful but obviously aren't trained on how to answer questions that require more than providing a link to a form that already exists on the website. And every alert or message that is sent has absolutely no information or indication about what I am supposed to do--I have to wait three days for a response to an e-mail requesting more information or I have to wait two hours (or more) to talk or chat with a representative. The customer service is absolutely terrible, and I cannot wait to be done with this company. I will do my best to prevent anyone I know from ever using this company. Even if it costs more, my advice is to find a smaller company that actually cares about its customers and will provide you with any customer service at all."
Eric Knable says"Buggy trading plateform (Power E-Trade) cost me money."
Kelly says"Same issues as previous comments - outlandish wait times - today on hold for over 3 hours without reaching anyone and 178 minutes for a live chat - with no luck there either. Finally at 2am reached a live chat rep after being on hold for 21 minutes."
Penelope Padmore says"Crazy customer wait times and fees that tripled the amount I originally paid for a stock. Oh, and things like reorganization fees ($38!) will be charged with no warning. As a small investor, this company does not work for me. Also, out of the blue demanding that I transfer thousands of dollars into the account for buying on margin, which I don't do. Too bad. I was a client for several years, and had started building a nest egg with them. Now to try to extricate my money without them siphoning off too much."
j s says"Incompetent customer service. Long wait time. no uniform rules. Each agent has his/her own set of rules for the same issue. Extremely disappointed."
Mandy Ang says"I really hate etrade! So not user friendly. So difficult to contact customer service. My company is using etrade to manage employees stock so I have no choice but everything is hell as I'm not based in the USA"
Thomas Lamarr says"They will charge you hidden fees. Even with significant money in your account will restrict your account. 1-2 hour hold on average. Different information everytime you call in."
Debra B says"I have been on hold for 4 hours."
Lawrence Haigler says"I waited or 37 minutes or help the 1st time. I was trying to navigate their site. I tried again and gave up after 20+ minutes trying to open an account or my kids. I also tried their chat. Service is not a priority or this company even to open a new account!"
Aidan Doan says"Worst Customer Service Experience Ever. Nonsensical message responses, rude and useless chat employees, 3+ hr wait times for customer service, broken website etc. etc. etc. Truly the worst customer service I've ever experienced. Have been trying for over a month to do one simple task."
Raktim Ghosh says"Do not invest with this brokerage firm. Horrible customer service. No accountability of your money. My account continued to have auto deduct from my bank account even after I stopped using this firm. You can not log in or call/chat to stop this auto payment. My chat wait time showing 127 minutes. No response over phone over 1 hr."
Andrew. Frank says"If I could give a zero star, I would. This is the worst of the worst brokerage firm with impossible long wait time. Try to get your money or transfer to another brokerage, you are in trouble. They will reject your request for reasons not communicated in their message, then you need to call customer service when they disconnect you or have you wait for over an hour then someone picks it up in India who can't do anything and then she transfers to another department who doesn't pick up the phone and you get disconnected. I always hoped ETrade would go out of business as they deserve it."
Paul Wagner says"This is a company absolutely determined to make everything difficult. From impossible long account verification times, to hours-long hold times for customer service, to near AOL-like impossibility to cancel one's account, that's ETrade. The bright side? Their competitors know this as well. Services like Robinhood have a customer-first approach. Once day I'll figure out how to successfully close my ETrade brokerage account. For now, I'm not willing to endure the misery or time commitment."
Tricia Krueger says"I have what is likely a simple question about trading and I can't find info on their site. I've been on hold for 40 minutes and now to chat it says my wait time is about 76 minutes! Time to bring back your furloughed workers or are the profits just that good. What a joke! Not that they'll care, but I'm pulling my money out - screw this."
Gregory Bryant says"I took a screen shot of my phone to prove the hour and eighteen minute hold time, but unfortunately I can't post the image here. When I got through I politely suggested that Etrade hire more people to answer the phones. She took it as a personal affront. Splendid experience."
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In The News
Insurance Journal reports"Class Action Claims E*Trade Failed to Warn About Risks From Oil Price Crash"
Finance Magnates reports"Class Action Filed against E*Trade for Negative US Oil Prices"
Motley Fool reports"Review: E*TRADE Core Portfolios | The Ascent"
Business Wire reports"E*TRADE Study Reveals Abrupt Shift to Recession Mindset"