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My E-trade horror story
- Thread starter indahook
- Start date
They don't have any account history screen you can look at?
Its pretty obvious your account was hacked into, otherwise, given that its a cash account why would a position be sold without your knowledge?
At least is was only $2200. Could have been much worse.
Let us know what they find in the end in case there is anything we need to do or watch for, please.
Its pretty obvious your account was hacked into, otherwise, given that its a cash account why would a position be sold without your knowledge?
At least is was only $2200. Could have been much worse.
Let us know what they find in the end in case there is anything we need to do or watch for, please.
Quote from Investorsources:
Thanks for the heads up man. Ive been preparing to open an account wiht them for a while.
What doenst make sense is, when you call and discuss an account opening with them, they seem to be here in Canada, but when you have a customer service issue, they outsource to India.
Is my understanding correct?
No, I don't think your understanding is correct. I've spoken to reps here in the US. Many US firms outsource customer service to places like India. I know I've spoken to reps in India regarding one of my credit cards.
And again, security at E*Trade is better than at many brokers. But it's up to individuals to get a security token to protect themselves. They offered them at no charge a while ago. Sadly, a number of people (and I don't necessarily mean the OP here) who use the internet have no firewall, no means to keep themselves from being hacked. But with the token the chance of being hacked are basically zero.
Curious.
Does IB offer check writing priviledges for unlimited amounts
up to your account value like Etrade does?
And do they offer a debit card also like Etrade does?
Do they have brick and mortar locations if you want to
visit with them face to face?
Do you have the option of Online Bill Pay with IB like Etrade does?
What about Direct Deposit Setups from your employer?
Finally, I know that each Etrade account is insured by SIPC
and additionally insured by London Insurers up to a limit
of $150 million. What's IB's protection policy like?
As a former Pacific Brokerage Customer to a Dreyfus Brokeage
Customer to a Brown & Company Customer to a Brownco Customer and now to an Etrade Customer, I am still pleased
with the transition and my commission schedule of $5.00 per
market order trade carried over from Brownco and that's cool
too. (Any one opening a new Etrade account get 100 free
commission trades)
Love the PowerEtradePro Platform with the option of Direct Access Trading too.
There Online RSA Digital Security ID option is cool too.
Comments?
Does IB offer check writing priviledges for unlimited amounts
up to your account value like Etrade does?
And do they offer a debit card also like Etrade does?
Do they have brick and mortar locations if you want to
visit with them face to face?
Do you have the option of Online Bill Pay with IB like Etrade does?
What about Direct Deposit Setups from your employer?
Finally, I know that each Etrade account is insured by SIPC
and additionally insured by London Insurers up to a limit
of $150 million. What's IB's protection policy like?
As a former Pacific Brokerage Customer to a Dreyfus Brokeage
Customer to a Brown & Company Customer to a Brownco Customer and now to an Etrade Customer, I am still pleased
with the transition and my commission schedule of $5.00 per
market order trade carried over from Brownco and that's cool
too. (Any one opening a new Etrade account get 100 free
commission trades)
Love the PowerEtradePro Platform with the option of Direct Access Trading too.
There Online RSA Digital Security ID option is cool too.
Comments?
The problem with the token (RSA) security is now you have a lengthy login process. You need to look up what the current code is and append it to your password.
I have the RSA turned off and only turn it on before I go on a trip and have to use other people's computers. My computer also has up to date security software.
Most hacking is done with key logging software on public computers. You can also avoid this problem by using the onscreen keyboard (for now) during login.
I have the RSA turned off and only turn it on before I go on a trip and have to use other people's computers. My computer also has up to date security software.
Most hacking is done with key logging software on public computers. You can also avoid this problem by using the onscreen keyboard (for now) during login.
Quote from DHOHHI:
No, I don't think your understanding is correct. I've spoken to reps here in the US. Many US firms outsource customer service to places like India. I know I've spoken to reps in India regarding one of my credit cards.
And again, security at E*Trade is better than at many brokers. But it's up to individuals to get a security token to protect themselves. They offered them at no charge a while ago. Sadly, a number of people (and I don't necessarily mean the OP here) who use the internet have no firewall, no means to keep themselves from being hacked. But with the token the chance of being hacked are basically zero.
When it comes to the games played....
None of what you listed matters. I had problems with ETRADE from DAY ONE... Just getting the account authorized, We provided everything they needed, Passports, Gov ID's, etc....Even did a telephone Security Check. It still took over 30 days to begin using the account. Meanwhile I had ZERO access to the funds I had Xfrd to the account prior to them freezing the account because my new address wasnt listed with Equifax, though I had all the Proper Paperwork FAXED in, etc....
IB offers ACH out. Thats all I need. I will gladly NOT pay $12.95 in commissions for stocks. ($5 for you) Your debit card can give you that all day long. I don't trade 10K lots with regularity (of course etrade hits you after 2K with .015/share fees anyway, until you trade over 30 turns.. Not so well for the light duty equities trader. I only execute 60 or so Stock trades per month so...) But $1.00 for 200 shares fits my bill all day long. or $120/ month in stock commissions for me.....
As I stated, ACH out, so why do I need a Debit card, is my Money management that jacked up I need a debit card to my brokerage account, or can I wait a day or 2 (Max) to use any funds. I have learned this one, if you are always in some STUPID emergency situation, you need to adjust your SPENDING.
3rd, Power Etrade pro... Bulll. I tried to PAY them the 29.95/month they LISTED on their website to use the platform. Could I... NO!!!! They state one thing IN WRITING ON THE WEBSITE, then when I call Cust Servc, they tell me I need to trade 30 times per month....
Now lets do some basic CHILDS MATH!!!!
$12.95 *30 so I can use your Platform to trade = $388.50. I could go to Tradestation and deal with them to USE A MUCH BETTER PLATFORM and all they charge is $99.95/ month to use their platform. Heck, trade 5000 shares of stock and it's free. Of course your situation was diff as you were a transplant.... But new entrants cant get your specials now can they. They are stuck with the NEW RULES of etrade. You havn't been on that side, so your experiences don't really apply to us new folks. Lets talk about that 100 trades. I joined when they were "offering" 30 free trades. Because they took so long to get my account authorized, they told me I didnt qualify for the free trades. BS, I had time stamped documents showing when I gave them all the info they asked for, and they still said SORRY. I spoke to "supposedly " upper management in the CS dept, and I was still told NO!!!! I tired to convince myself the debit card and bill pay was worth the headache. 6 months later I left. My Bank Debit card and Bank Bill Pay is more than what I need. Plus it's free.
30 Roundtrip trades with IB = $30 for my normal share trades. But I prefer Futures anyway. Oh yeah, Etrade now offers that.. With what.... Higher Commissions... IB is max $4.80 all in per side. Minimum $1.24 all in per side depending upon the contract. Etrade is $2.99 + Exchange Fees. Not to mention does their FUTURES platform NOT work on a MAC. Thanks IB. I dont have to switch platforms just to trade.... THATS CUSTOMER SERVICE IMO. Give me the tools I need how I need and leave me the hell alone so I can make some money.
With IB, the platform is FREE, and all I have to do is generate $30 in fees to get the RT data feed stuff free. Works for me....
If your life is so out of control, you need ETRADE to be your BANK ACCOUNT.... Then perhaps the rape they proliferate on you is worth it. I tend to pay my bills once a month in bulk. I transfer what I need to my Bank Account (again in a day or 2 MAX) then I transmit all my bill payments. Takes a couple or key clicks... ETRADES HELL is not worth the "service" they give you... But hey if you DON'T know how to manage your money, Etrade IMO is for you....
Security of Funds... Just click here...
http://www.interactivebrokers.com/en/accounts/accountProtection.php?ib_entity=llc
I'll add this for your reading pleasure...
Customer securities accounts at Interactive Brokers are protected up to $30 million (including up to $1 million for cash).
This protection is provided by the Securities Investor Protection Corporation (SIPC) and Lloydâs of London insurers. SIPC provides the first $500,000 per customer (including up to $100,000 for cash). For customers who have received the full SIPC protection, the Lloydâs policy provides up to an additional $29.5 million (including $900,000 for cash), subject to an aggregate limit of $150 million.
So Etrades security is no better or worse...
Sorry, your argumnet showed me no ADVANTAGES that would make me, a former etrader return to the desert.... IB has been a wellspring for me... I Like well springs...
The bible calls it living water... With IB, I can live. and make money without 90% of the headaches I have endured with etraitors...
Thanks for reading. LOL.
None of what you listed matters. I had problems with ETRADE from DAY ONE... Just getting the account authorized, We provided everything they needed, Passports, Gov ID's, etc....Even did a telephone Security Check. It still took over 30 days to begin using the account. Meanwhile I had ZERO access to the funds I had Xfrd to the account prior to them freezing the account because my new address wasnt listed with Equifax, though I had all the Proper Paperwork FAXED in, etc....
IB offers ACH out. Thats all I need. I will gladly NOT pay $12.95 in commissions for stocks. ($5 for you) Your debit card can give you that all day long. I don't trade 10K lots with regularity (of course etrade hits you after 2K with .015/share fees anyway, until you trade over 30 turns.. Not so well for the light duty equities trader. I only execute 60 or so Stock trades per month so...) But $1.00 for 200 shares fits my bill all day long. or $120/ month in stock commissions for me.....
As I stated, ACH out, so why do I need a Debit card, is my Money management that jacked up I need a debit card to my brokerage account, or can I wait a day or 2 (Max) to use any funds. I have learned this one, if you are always in some STUPID emergency situation, you need to adjust your SPENDING.
3rd, Power Etrade pro... Bulll. I tried to PAY them the 29.95/month they LISTED on their website to use the platform. Could I... NO!!!! They state one thing IN WRITING ON THE WEBSITE, then when I call Cust Servc, they tell me I need to trade 30 times per month....
Now lets do some basic CHILDS MATH!!!!
$12.95 *30 so I can use your Platform to trade = $388.50. I could go to Tradestation and deal with them to USE A MUCH BETTER PLATFORM and all they charge is $99.95/ month to use their platform. Heck, trade 5000 shares of stock and it's free. Of course your situation was diff as you were a transplant.... But new entrants cant get your specials now can they. They are stuck with the NEW RULES of etrade. You havn't been on that side, so your experiences don't really apply to us new folks. Lets talk about that 100 trades. I joined when they were "offering" 30 free trades. Because they took so long to get my account authorized, they told me I didnt qualify for the free trades. BS, I had time stamped documents showing when I gave them all the info they asked for, and they still said SORRY. I spoke to "supposedly " upper management in the CS dept, and I was still told NO!!!! I tired to convince myself the debit card and bill pay was worth the headache. 6 months later I left. My Bank Debit card and Bank Bill Pay is more than what I need. Plus it's free.
30 Roundtrip trades with IB = $30 for my normal share trades. But I prefer Futures anyway. Oh yeah, Etrade now offers that.. With what.... Higher Commissions... IB is max $4.80 all in per side. Minimum $1.24 all in per side depending upon the contract. Etrade is $2.99 + Exchange Fees. Not to mention does their FUTURES platform NOT work on a MAC. Thanks IB. I dont have to switch platforms just to trade.... THATS CUSTOMER SERVICE IMO. Give me the tools I need how I need and leave me the hell alone so I can make some money.
With IB, the platform is FREE, and all I have to do is generate $30 in fees to get the RT data feed stuff free. Works for me....
If your life is so out of control, you need ETRADE to be your BANK ACCOUNT.... Then perhaps the rape they proliferate on you is worth it. I tend to pay my bills once a month in bulk. I transfer what I need to my Bank Account (again in a day or 2 MAX) then I transmit all my bill payments. Takes a couple or key clicks... ETRADES HELL is not worth the "service" they give you... But hey if you DON'T know how to manage your money, Etrade IMO is for you....
Security of Funds... Just click here...
http://www.interactivebrokers.com/en/accounts/accountProtection.php?ib_entity=llc
I'll add this for your reading pleasure...
Customer securities accounts at Interactive Brokers are protected up to $30 million (including up to $1 million for cash).
This protection is provided by the Securities Investor Protection Corporation (SIPC) and Lloydâs of London insurers. SIPC provides the first $500,000 per customer (including up to $100,000 for cash). For customers who have received the full SIPC protection, the Lloydâs policy provides up to an additional $29.5 million (including $900,000 for cash), subject to an aggregate limit of $150 million.
So Etrades security is no better or worse...
Sorry, your argumnet showed me no ADVANTAGES that would make me, a former etrader return to the desert.... IB has been a wellspring for me... I Like well springs...
The bible calls it living water... With IB, I can live. and make money without 90% of the headaches I have endured with etraitors...
Thanks for reading. LOL.
Quote from stylark3:
Curious.
Does IB offer check writing priviledges for unlimited amounts
up to your account value like Etrade does?
And do they offer a debit card also like Etrade does?
Do they have brick and mortar locations if you want to
visit with them face to face?
Do you have the option of Online Bill Pay with IB like Etrade does?
What about Direct Deposit Setups from your employer?
Finally, I know that each Etrade account is insured by SIPC
and additionally insured by London Insurers up to a limit
of $150 million. What's IB's protection policy like?
As a former Pacific Brokerage Customer to a Dreyfus Brokeage
Customer to a Brown & Company Customer to a Brownco Customer and now to an Etrade Customer, I am still pleased
with the transition and my commission schedule of $5.00 per
market order trade carried over from Brownco and that's cool
too. (Any one opening a new Etrade account get 100 free
commission trades)
Love the PowerEtradePro Platform with the option of Direct Access Trading too.
There Online RSA Digital Security ID option is cool too.
Comments?
giles,
you don't get the good deal with etrade if you have a small account.
you don't get the good deal with etrade if you have a small account.
SO for an account size of 50K or more, Etrade is a better deal???
Sorry, but they couldn't properly service me with 30K, why would I give them 50k....
They should just drop the sham of calling themselves a discount broker and JUST become a FULL SERVICE broker.
Hell thats where they are headed... SO just seal the deal, and noobs like I was wont get confused...
Sorry, but they couldn't properly service me with 30K, why would I give them 50k....
They should just drop the sham of calling themselves a discount broker and JUST become a FULL SERVICE broker.
Hell thats where they are headed... SO just seal the deal, and noobs like I was wont get confused...