My father opened an Etrade account in early 2007 with $1000. He made a bad trade, but he did not spend all his money on that trade. Shortly thereafter, he was hospitalized with various diseases including Lyme and Emphysema. Obviously, he was not able to monitor his account. I called customer service the other day and explained the situation as he only had about $48 left in his account after the inactivity fees. I told them about his situation and that he could not do anything with the account, but they refused to refund the inactivity fees (which they have since gotten rid of). I also told them that my father is a practicing CPA and every year we have to input the tax data from various brokerage firms. Several of our clients have large accounts with Etrade and are good friends with my father. I know one has already left because of they way they treated him, but I can't wait to tell the others. I am in the process of closing my Etrade account which I hardly used because of their high commissions. I moved to thinkorswim and trade often because they charge $5 commissions. So Etrade hasn't made $1 of me this year and they are willing to risk losing large accounts because they will not refund $200 of my dads fees. This is a broken company (remember the 1 for 10 reverse split?) that no one should do business with.
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