Investor Help (NO Ihub questions)

[ottoman]

Totally Agree with all you said about Etrade! Ever since the Morgan Stanley take over.

I owned a stock that recently went through a reverse split. I rarely use Etrade, so I forgot about their $38 mandatory reorganization fee.

So the $38 fee put me in a negative account balance. I have never had a problem with any broker with a negative balance. Usually I just send money in to bring the account back to positive.

But Etrade, sold some stock in my margin account 1 or 2 days after the reverse split. No phone call, no email warning me of a negative balance.

Since I only have penny stocks in my Etrade accounts, they sold several stocks, incurring the commission each time, rather than sending me an email to warn me.


So I called Etrade, and waiting forever for customer service. Even the guy I spoke to couldn't believe they sold shares so quickly after the reverse split.
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