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Etrade. Safe or not?
- Thread starter barnetda
- Start date
From E-trade:
"11/12/07 An Important Message for E*TRADE Customers
To all E*TRADE FINANCIAL customers:
November 12, 2007
This is a challenging time for the financial services industry. Bad news in the credit, housing, and stock markets continues to dominate and E*TRADE is not immune to these market conditions.
However, you, our customers, should know that we continue to be well capitalized by regulatory standards. As a matter of fact, we could absorb an immediate write down in excess of $1 billion and still remain well capitalized. Nobody knows for certain what the ultimate impact will be from these markets, but it is our expectation that news in the market will get worse before it gets better and, armed with these expectations, we are taking prudent measures to effectively manage the company's balance sheet.
We will continue to earn your confidence, providing state-of-the-art asset protection, including E*TRADE's Complete Protection Guarantee, SIPC Protection for E*TRADE Securities customers and FDIC Insurance for E*TRADE Bank customers.
We appreciate the opportunity to continue to serve you and your investing needs.
âJarrett Lilien
President, COO and Director, E*TRADE FINANCIAL"
"11/12/07 An Important Message for E*TRADE Customers
To all E*TRADE FINANCIAL customers:
November 12, 2007
This is a challenging time for the financial services industry. Bad news in the credit, housing, and stock markets continues to dominate and E*TRADE is not immune to these market conditions.
However, you, our customers, should know that we continue to be well capitalized by regulatory standards. As a matter of fact, we could absorb an immediate write down in excess of $1 billion and still remain well capitalized. Nobody knows for certain what the ultimate impact will be from these markets, but it is our expectation that news in the market will get worse before it gets better and, armed with these expectations, we are taking prudent measures to effectively manage the company's balance sheet.
We will continue to earn your confidence, providing state-of-the-art asset protection, including E*TRADE's Complete Protection Guarantee, SIPC Protection for E*TRADE Securities customers and FDIC Insurance for E*TRADE Bank customers.
We appreciate the opportunity to continue to serve you and your investing needs.
âJarrett Lilien
President, COO and Director, E*TRADE FINANCIAL"
Quote from Brucelee:
I spent 35mins on the phone with Etrade, it did´t seem as though they are bogged down with callers. They told me, for what is worth, that ETrade got out of their exposure to these morgage backed securities some time ago and thought the transparency in announcing the write off was the best thing to do. Seems it wasn´t the way the media is killing them. They did say, that they have no cashflow problems and no more exposure, but other brokers will also be faced with the same issues. Question is, what to do, who to trust.
what do you expect them to say? "we're in deep s*** and it's best if you transfer your money to another broker asap"??
to the OP: why are you even asking this question?
Quote from Hansel H:
Toronto Dominion Bank owns 35% of TDAmeritrade. TD Bank has 0% exposure to subprime situation.
TDAmeritrade can go bankrupt but it's unlikely, given that TD Bank, one of the "big 6" Canadian banks, and one of the most solid banks in the world, would allow TDAmeritrade management to behave irresponsibly.
There is no similarity between TDAmeritrade and E-Trade ( a company without backing ) insofar as their backing and balance sheets are concerned..
AMTD is up today because E-Trade's clients are switching to TDAmeritrade.
Is there some sort of World Bank report that says TD is one of the most solid banks in the world or are you just making this up?
Quote from Longhorns:
Same lies that Enron, Worldcom, Exodus Communications, Adelphia, Novastar Financial, etc, etc, etc, all said right up until the second they declared bankruptcy.
Not saying they're going under, just don't listen to the "everythings fine" b.s. they tell you.
AMEN AMEN AMEN
Quote from Longhorns:
I don't feel bad for them at all.
They front run orders on successful traders all the time, they have the worst customer service ever, and their software platform is outdated.
F- Etrade.
Why do you feel they front run? Are you placing large block orders with their trade desk and seeing the stock shoot up prior to your order being executed? What size trades are you placing to feel they are front running on you? BUT, I don't mean a 10,000,000 share order of a penny stock priced at .0001 if that's what you're trading.
What platform are you using and how is it outdated? PRO is pretty advanced and had the direct option order routing set up, which all us Brownco customers requested and had implemented.
If you are under $50k assets or don't trade a lot, you may be talking to Manila or other non-experienced reps. I had the unfortunate experience of being routed incorrectly to this group and can agree that it was not a good experience. However, if you really trade a lot you need to ask for the Elite or Platinum group. Those are the guys who know what they're doing.