E*Trade - stock cert delays

Discussion in 'Retail Brokers' started by metro, Jun 9, 2008.

  1. metro


    I have had an IB account for years and like it but they do not allow you to deposit stock certificates so after checking many brokers I opened an E*Trade account. I sent one stock certificate at first to test - it will be 8 weeks ago on Thursday -- it shows in my account but it cannot be traded as it is on the Canadian Venture Exchange and they say it is being checked to make sure it is a legal certificate. Duh - that should take a few days not two months.

    I call every day and they say they hope it will be done soon. The stock has doubled but does me no good.

    So use caution if you want to use this broker and have any stock certificates.

    I have many more certs so in the meantime have opened an account with TradeKing - will see if they can do this right.
  2. Uhmmm...You stock most likely is 1) chilled (maybe in re-org?) or 2) is bad
  3. metro


    No there is nothing wrong with the stock or the certificate it is just the E*Trade delay -- it took them a month to open the account and weeks to then set it to global trading - the people you speak with say there is like a firewall between them and the people who do the work and they cannot talk directly to them.

    I just want someone to go the the person in charge and have them fix it today.