My wife and I each tried to open an e*trade account. They instantly verified my and opened my account without me providing any information beyond their application. My wife, however, has been asked to do multiple steps of additional verification. The latest step that they asked for was for her to write a handwritten letter and mail it in. This is ridiculous considering she is better qualified than I am. This process that they are putting through clearly intends to make it difficult for her and suspiciously seems like they are trying to turn her away. The company has also refused to tell her why her account has been "flagged." Given she has already turned all her personal information over to this company it she has a right to know what's going on. They asked her for a copy of her license, which she provided only to get instantly asked for more things. Her appearance should have no effect on her ability to open a trading account. I didn't have to do this.
**Please conact FINRA if you also have been a victim of E*Trade**
E*Trade froze my 3 accounts due to "unusual activity." I was told the unusual activity was me depositing my employer's check and that in order to unfreeze my accounts I would need to submit a letter of intent along with a picture ID. I did what they wanted but it wasn't good enough.
Then I was told that I needed to submit proof that the check has funds. I can't do that because I'm not my employer's bank, so they told me to submit proof that I had earned the amount on the check. I did what they wanted but it wasn't good enough.
Then I was told that I needed to submit proof that I earned the amounts of all of my employer's checks deposited. Additionally, I would need to submit proof that E*Trade itself transferred my Roth IRA and the money in my individual trading account from my previous broker. I submitted everything they asked for.
Still not good enough. E*Trade has frozen and closed my accounts and have stolen everything I entrusted them. I should have read the reviews and complaints on the BBB website. If anyone has experienced something like this, please file a complaint against E*Trade with FINRA. I'm still fighting to get my money back.
E*TRADE Securities, LLC. Reviews
My wife and I each tried to open an e*trade account. They instantly verified my and opened my account without me providing any information beyond their application. My wife, however, has been asked to do multiple steps of additional verification. The latest step that they asked for was for her to write a handwritten letter and mail it in. This is ridiculous considering she is better qualified than I am. This process that they are putting through clearly intends to make it difficult for her and suspiciously seems like they are trying to turn her away. The company has also refused to tell her why her account has been "flagged." Given she has already turned all her personal information over to this company it she has a right to know what's going on. They asked her for a copy of her license, which she provided only to get instantly asked for more things. Her appearance should have no effect on her ability to open a trading account. I didn't have to do this.
**Please conact FINRA if you also have been a victim of E*Trade**
E*Trade froze my 3 accounts due to "unusual activity." I was told the unusual activity was me depositing my employer's check and that in order to unfreeze my accounts I would need to submit a letter of intent along with a picture ID. I did what they wanted but it wasn't good enough.
Then I was told that I needed to submit proof that the check has funds. I can't do that because I'm not my employer's bank, so they told me to submit proof that I had earned the amount on the check. I did what they wanted but it wasn't good enough.
Then I was told that I needed to submit proof that I earned the amounts of all of my employer's checks deposited. Additionally, I would need to submit proof that E*Trade itself transferred my Roth IRA and the money in my individual trading account from my previous broker. I submitted everything they asked for.
Still not good enough. E*Trade has frozen and closed my accounts and have stolen everything I entrusted them. I should have read the reviews and complaints on the BBB website. If anyone has experienced something like this, please file a complaint against E*Trade with FINRA. I'm still fighting to get my money back.