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Online Broker Down - Sue 'em - EGRP, JBOH, AMTD, SCH, NDB
An SI Board Since February 1999
Posts SubjectMarks Bans Symbol
253 4 0 EGRP
Emcee:  Pluvia Type:  Unmoderated
This thread has been opened to document problems with online brokerage firms.

Today and yesterday E-Trade's website was down and their phone lines were jammed. Several weeks ago it was Ameritrade. This is nothing new - these firms are losing us money and it is time to take action.


As a professional trader, and an E-Trade customer, I'm sick and tired of losing money because E-Trade is down and their phone lines ring busy. Because of E-Trade's problems today and yesterday, I was unable to trade my positions in the market that were at risk. I lost money and had no access to trade my cash in the account which also lost me money.

E-Trade is responsible for these losses. CNBC just reported the NY Attorney General's office is launching an investigation into these online brokerage firms.

The purpose of this thread is for online broker customers to document their problems.


Please make sure you include your e-mail address in your post if you would like to have me forward your problem to the attorney working on this suit.

I have discussed my problem with E-Trade with two of the largest class US action law firms. As a result, I expect a suit to be filed against a number of the online brokers for issues that may include negligent representation and product liability.

In my own experience E-Trade has, in my opinion, failed in numerous incidences to correct their errors, which have cost me a great deal of money. I do not believe they will correct their problems without being forced to do so.

Time to take action.

Cheers Steve
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253What actions should I take? I had experienced one of the biggest misconduct to Dr. Diligence-11/29/2000
252 You have got to be kidding! I can get on after 6pm or before 8am but never, nevwildwillie44-6/19/2000
251 I guess I'd consult threaders over here as well: Message 13905813Jim Lou-6/19/2000
250 I think e*trade is playing the game with its customers. I spend a lot of time fHaolin Ni-6/3/1999
249 Wow, after reading some of these disasters I am reminded of some of my own. AD-5/27/1999
248 you can file a complaint with the NASD regulators at their web site at www.nasdEJ-5/26/1999
247 Thanks CrossBar, I'll give it a try. later, leroytLeroyt-5/26/1999
246 I am not sure how much success you will have, but here is the URL that gives yoCrossBar-5/26/1999
245 Does anyone know how you report problems with online traders to the SEC? I am gLeroyt-5/26/1999
244 Experiences buying IPOs through on-line investors! Well, wish I had that experiCrossBar-5/25/1999
243 Ladies and gents, let me warn you about Schwab. For long time I read posts by EJ-5/25/1999
242 Screwed by Wit Capital. I have been trying for the last 2 days to sell a stockScott Brooks-5/25/1999
241 I was screwed alright!!! fiberman-5/25/1999
240 fiberman, Didn't mean to single you out. Just hoping for some advice for tLeroyt-5/24/1999
239 You are asking the wrong guy. I have been screwed by Discover brokerage, as wefiberman-5/24/1999
238 I LOST over $4,000 today because of inaccurate information provided to me by NDLeroyt-5/24/1999
237 Why don't you try to contact the Datek customers who got screwed by Datek ffiberman-5/19/1999
236 I am a reporter for a business news wire. I am looking to interview online inveDow Jones Reporter-5/19/1999
235 My name is James Chandler-Don't ever consider making a foreign trade with EOtimer-5/17/1999
234 Gizelle, One of the problems with the Barrons survey is that it was based in paHolt-5/14/1999
233 If you are an active trader, use a broker that offers DIRECT ACCESS to the markMichael Turner-5/12/1999
232 Web Street Sued, again: INVESTOR FILES FORD PARKER-5/11/1999
231 Are there some other rating firms besides Bearruns and ? That managBernard-5/11/1999
230 DLJ/Discover/NDB Rated 1-2-3 in Wall Street Journal Survey of OLBs ! Rating thgizelle otero-5/10/1999
229 Raging Bull Ran a story recently that looked at a number of brokers. Forbes wilHolt-5/10/1999
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