E*TRADE Review

Website : us.etrade.com
Established : 1982
Country : USA
U.S. Clients Allowed : Yes

E*TRADE Overview

E*TRADE is one of the most established online financial brokers with more than 30 years of operational history. Being a full-service financial institution, it offers an array of online trading accounts and mobile trading features aimed chiefly at the retail investor.  E*TRADE is an attractive option for investors willing to pay more for an established online brokerage that has a reputation and all the bells & whistles.

 Pros

Commission Free Instruments

  • It offers an option to diversify one’s your portfolio with commission-free ETFs, stocks, and options trades

Robust Mobile App

  • Offers a full-feature mobile platform

Array of Asset Selection

  • Provides investment opportunities in stocks, options, futures, mutual funds, and ETFs

All -Embracing Research & Education

  • E*TRADE Research and Education portals helps its traders with all the tools required

Excellent Customer Services

  • Offers 24/7 customer support

Cons

Fees above industry standard

  • Charged at $6.95, the base commission is higher than the industry average

No Demo Account

  • Does not offer a demo trading account before depositing real money

No Access to Advanced Account

  • Access is limited to high-volume or high net-worth traders for the advanced trading platforms.

No Forex Trading

  • Does not support Currency trading

E*TRADE  Products & E*TRADE Stock Prices

What is E*TRADE? E*TRADE is an online financial broker with an operational history of 35 years. It has the acclaim of issuing the first-ever electronic trade by an individual investor in the early 1980s. It has more than 3.5 million accounts and is a fully regulated broker.
E*TRADE has an array for financial instruments to offer, this includes ETFs, mutual funds, futures, bonds and options, further more it also offers participation in initial public offerings (IPOs), however, it is limited to U.S residents and eligible accounts only.

As a plus, E*Trade offers access to commission-free trading for specific instruments such as ETFs. To access the E*TRADE Pro Program a minimum account balance of 250,000 dollars or executed stock or option trades each quarter are mandatory. The commission structure of E*TRADE is much higher than the industry standard; this extends to stock and option trade, ETFs, mutual funds and options contract fees.

E*TRADE Security

E*TRADE customers can rest assured that their personal info, account data, and deposits are adequately protected by the Complete Protection Guarantee. This guarantee extends to privacy protection and fraud, including zero liability for unauthorized use of your trading account. E*TRADE security accounts are protected for up to $500,000, including $250,000 for cash claims; under the jurisdiction SIPC(Securities Investor Protection Corporation). In addition to SIPC protection, E*TRADE maintains insurance with an aggregate limit of $600 million. Cash deposits at E*TRADE Bank are also insured by the FDIC.

The clients of E*TRADE can rest assured that their personal information, account data and deposits is secure and is protected under the Complete Protection Guarantee; it extends to fraud, privacy protection and payment and as a plus also includes zero liability for unauthorized use of your trading account. The E*TRADE security accounts are protected for up to 500,000 dollars inclusive of 250,000 for cash claims under the SIPC. Moreover, over and above the SIPC protection, E*TRADE also has an aggregated limit of $600 million worth of insurance. FDIC insures the cash deposits at E*TRADE.

Special Features

E*TRADE offers Managed Solutions, Small Business Retirement and Brokerage Retirement account types. E*TRADE Options House Platform is a cutting edge program designed for its highly active traders. It is a robust platform that allows features such as advanced charting, options chains and trading ladders – all integrated in to mobile & desktop experience. It offers a reward of 600 dollars and sixty days of commission free stocks and option trades on initial deposits of $10,000 or more.

Desktop Trading  Platform

etrade desktop trading platform

E*TRADE offers an interactive, easy-to-use desktop platform for their traders. Regardless of the trader’s goals or portfolio selection, E*TRADE offers a spread of resources that can aid the traders make informed trading decisions. The traders can easily toggle among stocks, options, mutual funds, futures, bonds, and other investments on a user-friendly interface. Beginners can also access E*TRADE’s library of articles and videos under their education section.

Mobile Trading Platform

trade mobile trading platform

E*TRADE’s mobile application integrates all the features of the desktop trading platform in to feature –rich, compact, easy-to-use interface. Its robust features and live streaming of CNBC makes it a top-notch app. The traders on the go will find this platform extremely useful, they can also access the desktop version of their accounts through Safari or other mobile web browsers.

Customer Support

E*TRADE provides 24/7 customer support; the support can be contacted directly through the trading account. A trader can send secure messages, upload documents and update their account information via the customer support.

Education Research & Insight

For the benefit of its traders, E*TRADE provides full access to its analyst ratings, assets screeners and financial statements. Technical traders can make full use of a variety of advanced charting available to them. It enables the investors align their portfolio to specific goals and objectives through their analyst recommendations and planning tools. The platform makes up for its lack of customization by providing robust tools that are second to none.

Banking

E*TRADE offers state-of-the-art online banking services in addition to running an online brokerage. Coupled with a variety of protections it also offers a promise of low –fee checking. E*TRADE’s Max-Rate Checking account offers an annual percentage yield of 0.05% on accounts with 50,000 dollars.

Bottom Line

E*TRADE comes with a price, which is well justified with the security and the vast educational material it offers. E*TRADE has a wide range of informative videos and articles for the traders to choose from, irrespective of their level. Being in the business for over 35 years, E*TRADE is few of the brokers in the business with 3 decades behind them. They have a powerful trading platform for both desktop and mobile experience. The only drawback i the lack of professional charting options and technical indicators that advanced traders may seek. The platform was designed to be accessible for all traders regardless of experience which is something that highly advanced traders may not find suitable. If that’s what you seek – choose TD Ameritrade.

Ricardo Martinez

Ricardo Martinez

Ricardo Martinez has been active in the financial markets for around 10 years. In the early days in his career he was a trader and worked as market analyst in different online brokers advising clients on key decisions of trading instruments in foreign exchange and commodity markets. Ricardo is currently working as independent trader with diversified portfolio over different markets. His writing for LearnMarketonline is part of his commitment to share knowledge with traders.