Can Etrade be held liable?

Discussion in 'Retail Brokers' started by kizzy, Jul 15, 2005.

  1. kizzy


    A glitch in Etrade's trading system has allowed me to continue trading at margin ratios well over 8-1 even though i don't have anywhere close to 25K in my account. can etrade be held liable for my losses??
  2. you're kidding me right? Take some responsibility for your own actions, they didn't force you to trade, It's your lack of discipline that cost you money! The fault lies entirely with you!
  3. The might be fined by the SEC but I can't see them being held liable for loses.

    Just my thoughts.
  4. LOSER!

  5. Boudicca


    Absolutely Unbelievable! Now I think I've heard it Sorry to seem callus only there is such a void where personal responsibility is concerned these days and to me it is nearly unbelievable, especially the broadness of its scope.

    But on to your question. I doubt that etrade can be held responsible for your trades especially since you sign a lot of documents acknowledging the risks etc.. My advice is to take what you have left and put it in a boring CD or something where it's safe and spend a few years reading, studying and papertrading. Best of luck to you.
  6. What the hell is going on over at that place anyway? They got people getting ripped off thru fraudulent ACH transfers, traders leveraging up with prop firm leverage, etc, etc...

    They probably should send one of their yes men over onto this site to clean up all the bad PR they are getting these days.
  7. Mvic


    I have a checking account with them and sent them and e-mail saying no wires unless the comfirmed by phone (to my home phone number only) prior to wire and included the link to the the Etrade fraud thread, never did get a reply but may have bought some protection.
  8. BSAM


    What you (and others) are saying here is exactly correct and how things should work in the good ol' USA. However, think about how liberal/dopey our judicial system has become! We all know that a "good lawyer" combined with the "right" jury can make your white T-shirt all of a sudden appear purple. May be worth a shot (sad to say).

    Michael Jackson/Robert Blake/O.J. Simpson.....Hmmm, kinda makes one wonder.
  9. Ebo


  10. kizzy looks like you found the solution to your other post back in Feb, but it doesn't sound like you're happy with it :)

    #10     Jul 15, 2005