E-trade etrade rips-off its online trading clients Internet
etrade charges loan-shark type margin interest rates
makes it very difficult if not impossible for account
holders to find out about the high rates clients are in for a big shock when they receive thier tax statements
also this broker will rip you off on limit orders
if an order can be filled for a better price than the limit price the client still gets the limit price
what happens to the difference? well.........
Jeff
Hammond, Indiana
U.S.A.
1 Updates & Rebuttals
Bruce
Lookout,California,
U.S.A.
Margin trades on Etrade
#2Consumer Suggestion
Sat, December 03, 2005
I have been using Etrade for the past 8 years and am an active trader in the three portfolios that I have with Etrade. I have mever had a problem with their service ever. Perhaps your problem comes from the mis-understanding of Margin trading. This is just like usuing your credit card to purchase any item that you plan to pay off over time. You have to expect to pay interest on the money you borrowed. I personally do not purchase stock on margin as usually you can expect stocks to gain in value but not at a rate to make it wise to pay margin interest. You should buy stock only with your own money or expect to be disappointed with your results.