What we heard...
AFTER A STOCK IS PURCHASED ON MARGIN, with a 25% Margin Requirement, days, if not weeks later, the account holder will receive an email thats says... "SPECIAL MARGIN MAINTENANCE REQUIREMENT CHANGE"
Within that email, eTrade bumps up the margin requirement on your trade from 25% to 45% and in many cases, we were told much higher.
After the account holder meets the so called fraudulent margin requirement, and then sells the stock...
eTrade then sends the account holder another email that says..."SPECIAL MARGIN MAINTENANCE REQUIREMENT CHANGE" and lowers the Margin Rate back to 25% - AFTER THE STOCK HAS BEEN SOLD BY THE ACCOUNT HOLDER
The SEC and DOJ needs to investigate eTrade, its Deceptive Business Practices, its Fraudulent Accounting Methods and its Books.
If you have an eTrade account, we suggest closing your eTrade account and transferring out to maybe Fidelity, Schwab or InteractiveBrokers.
Also, judging by the eTrade weekly chart, the stock looks ready to crash!
The stock is trading under the cloud and every indicator is negative.
Support might be somewhere around $30 but if it keeps sinking, and breaks down below $25, look out below!
On 2/5/2019, TD Ameritrade stock tanked...eTrade could be next to tank!