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Posted On: 10/17/2019 3:42:06 PM
Post# of 86194
I have had etrade on the phone for several major issues over the last few years. I find that the reps answer many questions with a best guess. I've had several reps all give me different answers when I asked them the same question. One time a guy there gave me such gross misinformation that it got me into margin trouble. Even after I made them play back the recording of the conversation where I was misinformed, I still had to cover the call myself. *
The supervisors give better answers than the regular reps. I guess they have access to more detailed information about various things. But generally speaking, I personally wouldn't etch anything any of the reps told me into concrete ........except of course when they told me over and over that I needed to personally cover the margin call I generated because of their misinformation. That was written in stone all the way to the center of the earth.
* He told me that a margin call generated by daytrading a stock bought with overnight buying power would clear itself as soon as the trade settled....so in two days. Of course I thought he was giving me correct information and I broke the daytrading rule for overnight buying power on purpose the next day. That's when they called me and explained I needed to cover the call immediately. Round and round we went, but the red hot poker somehow still ended up in my ass.
Then I had major problems with L2 on Pro. I will spare you those details, but it was very ugly.
The supervisors give better answers than the regular reps. I guess they have access to more detailed information about various things. But generally speaking, I personally wouldn't etch anything any of the reps told me into concrete ........except of course when they told me over and over that I needed to personally cover the margin call I generated because of their misinformation. That was written in stone all the way to the center of the earth.
* He told me that a margin call generated by daytrading a stock bought with overnight buying power would clear itself as soon as the trade settled....so in two days. Of course I thought he was giving me correct information and I broke the daytrading rule for overnight buying power on purpose the next day. That's when they called me and explained I needed to cover the call immediately. Round and round we went, but the red hot poker somehow still ended up in my ass.
Then I had major problems with L2 on Pro. I will spare you those details, but it was very ugly.
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