Update III: E-Trade’s official stance is that the glitch is resolved, except in the case of a few accounts. Any claims that margin buying power has been limited is wrong and was purely based on the error, not on any chance in margin policy.
Update II: Now clients are saying E-Trade has NOT fixed the glitch, at least not on their accounts. We’re following up and will update accordingly.
Update: E-Trade confirms that the glitch has been fixed and that it affected only a limited number of clients. No customers suffered any loss of portfolio value.
Original post: Getting spotted reports of a major outtage, bug at online broker E-Trade (ETFC) today.
Traders on message boards are confirming the news, and one source sent us a screenshot showing he had a massive margin call and $0 to withdraw. The company says it’s a temporary bug and that all the money is still there.