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March 30, 2006


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I was 100% happy with HarrisDirect. Harris Direct had great service and a nice website that was very easy to navigate. Then my account was transfered to E*Trade when they bought HarrisDirect. I am 100% unhappy with E*Trade. In the first month, my average customer service hold time was 1 hour. I have even had unauthorized trades made. When I call customer service, I am never satisified with their help. Due to all the issues, I requested that E*Trade waive my $60/account fee to close my account. I have 7 separate accounts (2 Roths, 1 IRA, 3 Education Savings Accounts, and a taxable account). So for me to transfer out of E*Trade it would cost me $420. E*Trade refused to waive the closure fees even with all of these issues (some of them they admit to). Warning ... DO NOT open an account at E*Trade.

This is great info. for any beginner or intermediate investor looking for some advice on online brokers. I use, but they do not provide mutual fund transactions, and is more for a small-time, automatic investor (which I am). Although you can trade market and limit orders. Great post!

Has anyone gotten out of etrade w/out paying the $60.00 fee. Etrade has been HORRIBLE. Literally 99.99% of the time that I log in they have done something screwed up to my account....removed (lost)my cash balance, charged a fee for a merger that happened but misplaced the $850.00 I should have gotten from it!, charged another random fee, didn't do the drip I signed up for in January (they screwed that up in Jan, Feb, and AGAIN in March). I hate them and have been going back and forth on email about all their errors and confusing fees since December. I am totally fed up and want to go to Scottrade. How can I escalate this appropriately to not pay $60.00 to get out? My thinking is why should I have to pay, when they have already cost me so much money with all their stupid mistakes?

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