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What's wrong with E-Trade this morning?

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Re: Whats wrong with E-Trade this morning?

Well... after all the hassle I went through to move my investment portfolio account from NAB to Etrade, I'm now seriously considering moving my trading account (which was with HSBC) from Etrade back to NAB!

With my trading account, I can take the premium level which gives live prices and market depth, and it will be so much easier transferring funds in and out given the company account is already in NAB. With my current settlement account still in HSBC, it's become almost impossible to work with.

And I'm getting seriously annoyed with Etrade. While their new website mostly handles the traffic now (it only seems to be slow sometimes right after opening), I'm having all sorts of problems with the website in Firefox, they only give me averaged prices in contract notes, and today, without a word to me, they froze my trading account so that I couldn't buy! I only found out when I tried to place a buy order.

On ringing them up, and spending some time on hold first, the guy said it was because some contract from a couple of weeks ago hadn't settled properly. He couldn't even tell me what the actual story was, he'd have to find out and call me back. Well, I'm still waiting... And it's not as if I have to do anything for settlement, they do that automatically, so if something didn't work properly it's their problem, not mine. All I do is see what funds I have available to trade, as indicated on their website, and spend up to that much. Thanks guys for inconveniencing me because of your problem. I'm not even sure if it's working again yet or not.

So any NAB users here still? Are they okay these days or are there nightmares with them too?

Cheers,
GP
 
Re: Whats wrong with E-Trade this morning?

<sigh>

I still can't place any buy orders as they still haven't fixed their stuff-up . I'm told "with a bit of luck, before market close today" (and that after waiting about 20 minutes on hold).

NAB's looking better again by the minute...

GP
 
Re: Whats wrong with E-Trade this morning?

Right on close and still can't buy.

Application has just been faxed to NAB. Bye bye Etrade.

GP
 
Re: Whats wrong with E-Trade this morning?

How long it will take you to transfer shares to NAB?
 
Re: Whats wrong with E-Trade this morning?

They said about a week or two, depending a bit on when Etrade will release the HIN.

Five days to process the application and then another few days for the HIN transfer.

Cheers,
GP
 
Re: Whats wrong with E-Trade this morning?

Probably best to do it slowly, while still trading with one, build up the other and transfer gradually.

I don’t think I can even imagine not being able to trade fro up to 2 weeks.

Maybe I could do it if I take longer view on trading first, when moves can be made at monthly reviews and then I would be highly unlikely that 2 weeks would make any difference, except for October and December maybe.
 
Re: Whats wrong with E-Trade this morning?

You can still trade until they transfer the HIN. They might just want you to not trade for a few days immediately prior to releasing the HIN though so that all outstanding contracts have settled.

You can't do it slowly if you want to transfer the whole HIN. If you're getting another one though, then you can just transfer whichever shares you like at any time.

GP
 
Re: Whats wrong with E-Trade this morning?

I've decised to change as well, but am going to do it gradually as I have been in the same boat. My Margin Loan excess equity has still not been brought across so I can trade on margin. All this over the past 4 weeks when I would have been biting into quite a few companys during this rally.

GP, you're going to NAB? Any reason why you've chosen them?

I have only researched Commsec so far, but what I'm after is a one stop shop where I can have a ML account for managed funds and 'investments', and a trading account where I can trade CFDs and options. All under the one log in. Can I do that with NAB?

kennas
 
Re: Whats wrong with E-Trade this morning?

The primary reason I've chosen NAB is because all my bank accounts are already there, and it will be a lot easier for me to transfer funds in and out. I do that a bit because of my situation, where I have a formal loan from a family trust to the trading company with interest payable. Whenever I'm not using some funds for a period of time, I transfer them back to the trust to avoid having to pay interest on them (while it's only interest between my own entities, it is taxable income to the trust).

I don't use margin at the moment and I don't trade CFDs or options either, so I'm not too worried about them. They do mention options in the application form , but I'm not sure about CFDs.

And I'm sure you can do margin loans with them. One settlement account option you can select is for a margin loan account somewhere.

My main concern now is more the website reliability and performance. It was a bit flakey sometimes before, when I used to use it for my investment account, but hopefully it's improved somewhat. And being a less-popular site will also hopefully help it avoid overloading issues like Etrade have been having.

So I'm not sure if it would suit your situation, but I think it will be fine for me, provided it's reasonably reliable and not too slow.

Cheers,
GP
 
Re: Whats wrong with E-Trade this morning?

Sucks doesnt it. Thank god I also got other online brokers
 
Re: Whats wrong with E-Trade this morning?

Today E*Trade Pro doesn’t highlight any of my existing orders.

I created few today and they are shown, but nothing shows for orders created up to and on Friday 27 Oct 06
 
Re: Whats wrong with E-Trade this morning?

Anybody have any problems with stop losses today?
I just noticed when I reviewed my trigger prices one in particular had dropped to $1.47 when it should have been $1.62 now its back up to $1.65. and thats still not right.
One conditional sell order that I placed has not been placed, this is getting beyond a joke and the b@#$%^&s won't even answer you when you email them still awaiting reply from last week.

They are totally ignoring their customers and expect us to just accept, to change means huge disruption and the b@#$%^&s know it, as I rely and many others on ETrade for data too.
 
Re: Whats wrong with E-Trade this morning?

For almost an hour after the market opened this morning, my Portfolio screen was showing $0.00 for RIN, for heaven's sake. The depth was wildly out of whack - made no sense whatever.

It may not have all been E-trade's fault as on checking the ASX website, they were also showing no action on RIN at that stage.

Tried to phone E-trade. Usual story, No reply. Leave my number. No call back the entire day.

It was fixed about 10.45 am EST

Julia
 
Re: Whats wrong with E-Trade this morning?

It may be time to inform the press about the problem. Today tonight may get in on it. Something has got to be done about the terrible service before it becomes normal service
HSBC please come back.
 
Re: Whats wrong with E-Trade this morning?

I had one stock the other day showing up in my Etrade portfolio as being about $24 something, when in fact the share price was only around $1.30. A very nice looking gain there for a short time

GP
 
Re: Whats wrong with E-Trade this morning?

I've been 'given' an extra 300 Alinta shares (when the code changed).....I might sell them for a 100% profit and see what happens.
 
Re: Whats wrong with E-Trade this morning?

That's a dangerous temptation woodrel.

I think you'll find from the legal viewpoint, in a situation where there is a dipsute it is up to each seller to be able to prove ownership of shares through a contract note of some description before he/she sells the parcel of shares.
 
Re: Whats wrong with E-Trade this morning?

I had that happen once with HSBC, with the Mayne demerger. Got given too many Mayne Pharma shares, which I then sold. Shortly afterwards I got a phone call from HSBC to discuss the "mistake", after which they reversed the sale of the shares I hadn't actually got (not sure how they did that, but they did).

GP
 
Re: Whats wrong with E-Trade this morning?

Oh, I have no doubt that they'll be on to me, but I might get the money to play with for a while. I mean like so many CEOs/politicians 'I can't recall'...how many I bought in the first place....I just sold all the ones in my account!
E-Trade owe us all a bit of latitude considering their recent performance.
 
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