E Trade Financial - Menlo Park, California

Saba T.

This company is a total scam, and I want to warn everyone before they go through what I just did.

E*TRADE (now owned by Morgan Stanley) started taking money out of my account every single night—hundreds of dollars—without any clear reason. I had submitted my W-9 form like they asked, but they said it didn’t process fast enough, so they just started withholding 24% in taxes from every sale I made.

I ended up with over $600 taken from my account, and it didn’t stop there. It kept happening daily—even after I started transferring my account to Fidelity to escape them. I was left watching my money disappear one charge at a time, with no help from their support team. One of their brokers told me flat-out that “nothing can be done.”

It felt like I was being robbed in slow motion.

I filed complaints with FINRA, the SEC, and CFPB, and I hope no one else has to go through this. Please think twice before opening any account with E*TRADE. Once they start draining your money, there’s no way to stop it in time.

They’re not here to help you grow your money. They’re here to trap you and bleed your account dry.
STAY AWAY from this scam company!!!!! Simply stay away

Nishan A. J. K.

Before Morgan Stanley bought the company I had no problems. I used them for 25 years. It has some great features, but not amazing trading tools. However, it worked due what I needed at the time.

One day they shut me out of my account. They would never tell me why. I work for a cannabis company in the US, getting my paychecks deposited into my etrade account. Only a guess as to why they kicked me out. The irony is that I could invest in US cannabis companies trading on the Canadian exchanges. But one day I woke up and couldn't transfer money from my savings account to my checking account to pay my mortgage. I was required to move my money immediately. I was a loyal customer for 25 years, and was given no reason. It took me a month of phone calls to complete three transfer to another brokerage company.

Stay away!

Jan B.

The worst !!!! financial institution to deal with when your parent is incapacitated and as a trustee you need to access his investments.

With our attorney and almost 50 hours on the phone and overnight mailings of the trust, and related documents from their website….uploading SAME documents as well as certified mail to the legal department it has taken since August 7, 2023 and we have STILL not gotten resolve…we have done everything ETrade representatives have requested …5 doctors notes … notarized paperwork…application And trust documents for updating Parents account to reflect co trustees is still in principal review. I am going to report them to FINRA.org.

And broadcast on social media not to ever deal with this company ever again. We are so upset. I will contact seven on your side as well. Do something about your customer service E-Trade… karma will come your way!!

MINH N.

Yeah, adding another bad review for this worst brokerage firm.....must stay away and Do Not try with E-Trade

Sreenath R.

The worst Brokerage firm, they had a restrictions on my accounts and unable to do any transactions, what a idiotic company to work with, there are so many other brokerage firms which are very good and simple, how ever this stupid Ertrade/Morgan Stanley is useless piece of junk.

Varun R.

They took more than 2 months to do some address verification or whatever they called it. Still waiting for that stupid hold to be lifted. They keep telling me it will be another 5 days since 2 months. Absolutely useless fellows

Ravi N. (.

Best brokerage firm in the US. I like plenty of resources and best tool available to get the real time data. Happy with use friendly mobile, web and desktop apps.

Lavanya K.

Lots and lots of hidden fees. Ridiculous wait time and charges for everything.