E-Trade Review

5 stars based on 51 reviews

I had an E-Trade account to receive shares of stock from the company I worked for. Working for a tech company, I had to sign up for an E-Trade account to receive stock awards and discounted e trade broker number pideos purchases from the company. At the same time, I had a non-work-related brokerage account at a Canadian bank e trade broker number pideos order to do my personal investment and stock trading activities. As of yearI found E-Trade to fall short of my expectations in a number of ways: High commission fees, restrictive transaction flow, and a busy user interface.

First and foremost, E-Trade charges unusually high fees to process stock transactions. For employee stock plans, the only trade available is the sell order. To make matters worse, some trades are involuntary and the fees eat away at the income. Although E-Trade allows a few methods for the treatment of income taxes, my company chose the sell-to-cover method with no user override allowed.

The company promises me a block of stock shares over a period of time if I stay employed at the company. A grant of shares with shares becoming vested on a specific date 1 year later, another shares 2 years later, etc. This is effectively a form of extra income or a bonus. The money is accumulated for a e trade broker number pideos year and the purchase e trade broker number pideos executed at the end of the period. Only the discount portion of the money i. But E-Trade begs to differ: Compare this with my ordinary stock brokerage, where blocks of a particular stock bought at different times or even transferred in from another account all merge into a single mass of assets.

Later when I perform a sell order, all the accumulated stock can be sold in one transaction costing only a single commission fee. An E-Trade employee stock account requires that after selling stock, the cash from the transaction is immediately dispensed to a cheque mailed to you.

You cannot keep the cash proceeds in your account. Some events generate cash that is kept in your account instead of being dispensed. Receiving dividends while holding onto stock is one example.

Leftover change from a sell-to-cover transaction is another one e. You e trade broker number pideos up with a cash balance in your account, but you cannot merge the cash into the cheque dispensed after a sell order — you have to call E-Trade to explicitly dispense the cash.

The workflow ends up being convoluted and suboptimal. Upon an RSU vesting on a Wednesday, I received an email notification of the sell-to-cover-taxes transaction 2 business days later Fridayand a notification of the vesting 4 days later Tuesday.

This is quite unacceptable, as my personal brokerage allows me to see orders in real time and events are posted to my online transaction log in real time. An expensive, rigid brokerage Introduction. Pervasive Displays e-paper panel hardware driver. Chemical equation balancer JavaScript.

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Michael Largent, 22, of Plumas Lake, California, allegedly exploited a loophole in a common procedure both companies follow when a customer links his brokerage account to a bank account for the first time. To verify that the account number and routing information is correct, the brokerages automatically send small "micro-deposits" of between two cents to one dollar to the account, and ask the customer to verify that they've received it.

Michael Largent allegedly used a script to open 58, online brokerage accounts in the names of cartoon characters, and other aliases. Hank Hill courtesy Fox Broadcasting Largent allegedly used an automated script to open 58, online brokerage accounts, linking each of them to a handful of online bank accounts, and accumulating thousands of dollars in micro-deposits. Largent's script allegedly used fake names, addresses and Social Security numbers for the brokerage accounts.

That last name is doubly-fake — it's the alias commonly used by the paranoid exterminator Dale Gribble on King of the Hill. Largent allegedly cashed out by channeling the money into pre-paid debit cards. A May 7 Secret Service search warrant affidavit.

When the bank asked Largent about the thousands of small transfers, he told them that he'd read Google's terms of service, and that it didn't prohibit multiple e-mail addresses and accounts. The Google caper is not charged in the indictment. According to the government, Largent was undone by the USA Patriot Act's requirement that financial firms verify the identity of their customers.

Largent is free on bail. He's charged in federal court in Sacramento with four counts each of computer fraud, wire fraud and mail fraud. He didn't return repeated phone calls Tuesday; Representatives of E-trade, Schwab. Sponsored Stories Powered By Outbrain. Wired Staff Wired Staff. Klint Finley Klint Finley. Issie Lapowsky Issie Lapowsky. Matt Gallagher Army of The Making of a Cyber Battalion.