Complaint Review: E*Trade

I opened an E*Trade account a couple of years ago and purchased some stocks just to hold onto for the long term. I recently looked on-line and noticed that I have a negative cash balance on the account. I immediately called their customer service line and after being put on hold for a while discovered that they (E*Trade) were we charging my account $25.00 per quarter in maintenance fees. I told the customer rep I wanted to stop these fees immediately by moving my holdings to my regular brokerage firm. He told me that they would be happy to do that as soon as I sent them over $100.00 to cover the negative cash balance and a SIXTY dollar fee to move the account to another brokerage. None of these fees were in the original agreement I entered into with E*Trade when I opened the account. I will pay them with protest and then seek civil and or legal action to recover them and hopefully prevent others from falling into this scam...

Ed
Poughkepsie, New York
U.S.A.