Anyone use E*Trade as their broker? Company may go bankrupt

[Herman Munster]

http://www.bloomberg.com/apps/news?pid=20601087&sid=aqif1FOQmJ7c&refer=home

E*Trade dropped $5.04, or 59 percent, to $3.55 at 4:20 p.m. on the Nasdaq Stock Market. The stock has fallen 84 percent this year, wiping out about $8 billion in market value. E*Trade's market value is now almost a tenth of TD Ameritrade Holding Corp., its closest competitor.

[MissWaverly]

1. I had them and lost my investment, ouch

My mutual fund is no gusher but e-trade was a wash out.

[supernova]

2. Was considering signing up and playing around

with whatever their minimum amount is, but I think I won't now.

Ashame.

[Herman Munster]

5. there are others

ameritrade is cheaper than etrade for small investors.

[aquart]

3. Was tempted for two seconds but couldn't trust them.

[AlCzervik]

4. i do.

[Herman Munster]

6. you need to review your holdings

if you use their bank and have more than $100k there, you are in danger of losing money if they go bankrupt. FDIC only insures up to $100k.

[AlCzervik]

7. i know, i already talked to our account guy and my husband about it.

[AlCzervik]

8. some more info

E-Trade is a member of the SIPC, and as such, its protections cover securities customers up to $500,000, including $100,000 for claims for cash, E-Trade said Monday.
"SIPC does not cover individuals who are sold worthless stocks and other securities," according to the company's Web site. Rather, "SIPC helps individuals whose money, stocks and other securities are stolen by a broker or put at risk when a brokerage fails for other reasons." Read more about SIPC.

http://www.marketwatch.com/news/story/investor-assets-e-trade-accounts-said/story.aspx?guid=%7B07DF25B1-350B-460C-9D49-665E9DFB5DD9%7D