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CB Annoying Commercials E-Trade Account locked out from trading after applying for options level 3.
E-Trade

E-Trade review: Account locked out from trading after applying for options level 3.

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3:51 pm EDT
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I continue having continued difficulty with a new Individual account I set-up with E-trade 2 weeks ago. I've been a customer over 20 years with them. I already have 2 accounts with level 3 options and wanted the same with the new account;

- On 3/28/24, I requested level 3 options upon opening the new account.

- When funds were available, there was no options approval. E-trade instructed me to submit an options request.

- After a few days, level 2 options was granted. I could not be given an explanation as to why level 3 was not granted. E-trade instructed me to resubmit again and also informed me IRA money is liquid assets, so I added the amount to what was previously submitted to show I had sufficient capitol.

- After the 2nd submission on 4/8, my account was restricted from trading.

- They had questions about my income. I addressed this before the market opened on 4/9, explaining it came from pension, social security, and IRA funds.

- On 4/10, the account was still restricted. I called E-trade said they now had a question now about my liquid assets, and I told them it includes IRA funds as liquid assets, which is in the comments.

- As of 4/12, I'm still restricted! I've been calling every day on this matter. My dedicated team relies on another department, which they or I cannot talk to, and therefor cannot effectively escalate the matter. I've additionally submitted multiple complaints to actions resulting.

- The Irony is I opened an account with Fidelity on 4/9, transferred most of my funds from this E-trade account to, and am already trading in that fund with level options as of 4/12.

- I plan to eventually transfer everything from this account and may close my other 2 accounts, as E-trade cannot provide proper customer support to resolve this matter. I'm keeping it open as of now for metric purposes to gage E-trade's overall responsiveness.

Claimed loss: Days of trading

Desired outcome: Issue resolved

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