E*TRADE has nearly 5 million customers. Customers can use a range of services and tools to make informed decisions about their investments. You can trade stocks, bonds, options, and mutual funds with an E*TRADE account. E*TRADE gives customers access to research and news related to the markets. Retirement accounts and online banking are offered by the company. The company helps customers manage their finances and meet their long-term financial goals.
If you are considering opening an account with E*TRADE, you have come to the right place.
This post will give you an overview of the services that E*TRADE provides, the fees that they charge, the pros and cons of working with them, and more.
Let’s take a closer look at one of the world’s original online trading platforms. Millions of people around the world have become successful traders because of the platform.
What is E*TRADE?
E*TRADE is an online trading platform. It has a wide range of products and services that allow customers to invest, manage their portfolios, and make informed decisions. William Porter and Bernard Newcomb founded E*TRADE in 1982. A comprehensive suite of services and products for retail investors has been offered by the company. They were the first company to offer online trading to individual investors. They were pioneers in the field of financial technology.
Today, the company employs more than 4,000 people and has over 30 physical branches throughout the U.S. Since its founding in 2002, the company has seen exponential growth.
One of the pioneers in online trading, E*TRADE has consistently won awards for providing good customer experiences. E*TRADE offers innovative products and services that are tailored to meet the needs of individual customers.
StockBrokers.com named E*TRADE the best company for options and mobile trading.
E*TRADE Account Options
Let’s take a look at the different investment and account options that E*TRADE has to offer. From stocks and options to mutual funds and exchange traded funds, E*TRADE has a wide variety of investment options to suit any investor’s needs.
E*TRADE Brokerage Account
The standard account is the heart of E*TRADE. This account gives customers access to a wide range of investments and allows them to manage their money with ease and convenience.
As an E*TRADE account holder, you will have access to a wide range of research tools that will help you make informed investment decisions. New investment opportunities that match your goals can be identified with the help of these research tools. You can link your funds to a bank account. People who want to combine their banking and investing into one location can benefit from this.
If you want to make trades on the go, the E*TRADE Mobile app has a good rating in both the App Store and the Play Store. It’s a great tool for busy traders who want to stay on top of the markets.
U.S.-based stocks and exchange traded funds are free and options contracts range from $0.50 to $0.60 The cost is a flat rate of $0.005 per share with a minimum commission of $1.00.
Here’s a full list of the investment products that you’ll be able to trade with a brokerage account.
Power E*TRADE Account
Savvy traders will probably want to consider opening a The Power E*TRADE account has more advanced trading tools and reporting features than a standard brokerage account. The Power E*TRADE account gives users access to real-time streaming data, so they can stay up to date with the latest market movements.
You can easily use these advanced trading tools on-the-go, buying and selling securities from any connected device. This will allow you to maximize your investment opportunities no matter where you are.
E*TRADE Margin Trading
If you’re interested in trading on margin, check out E*TRADE’s Margin Trading service.
You have to apply to see if you qualify for an account since trading on margin is taking out a loan. If you understand the risks involved, you should only invest in this type of investment.
E*TRADE Personalized Investment Accounts
Investors who prefer to let others do the leg work might be interested in E*TRADE’s Personalized Investments.
The capital management team at E*TRADE monitors and identifies top-performing funds. The team wants to identify investments that offer maximum returns and minimize risk.
E*TRADE’s digital portfolio advisor will then automatically disperse your money across these funds in a way that aligns with your investment goals.
This division is similar to other companies. Depending on the account you choose, you can work with an advisor. You can use a range of investment tools and educational materials to make informed decisions.
Portfolio options can be found in E*TRADE personalized investment accounts. These options can help you reach your financial goals. Here is an overview of them. You can make an informed decision if you consider the differences between them.
1. Core Portfolio
With a You will have access to E*TRADE’s digital investing service. Even complete beginners can get started quickly and confidently with Core Portfolio. You will be hit with a 0.30% advisory fee if you don’t have a $500 minimum deposit. Your money will be safe and secure in this account, so you can rest assured that your investments are in good hands. If you need help with your finances, you will have access to account specialists. They can give guidance on budgeting, savings, and investing.
2. Blend Portfolio
E*TRADE’s The same digital advising service is offered by Blend Portfolio, but with an initial consultation with a financial consultant. The consultation helps clients learn more about their financial goals and allows the consultant to create a tailored portfolio specifically suited to their needs. You will need at least $25,000 to open this kind of account, and advisory fees range from 0.65% to 0.95% depending on your portfolio’s allocation. When creating a portfolio, it’s important to take into account trading costs and taxes.
3. Dedicated Portfolio
Investors that have at least $150,000 can open a Dedicated Portfolio. You will be able to work with a dedicated one-on-one specialist who will build a custom financial plan for you based on your financial goals. By working with a dedicated one-on-one specialist, you can be sure that your financial plan is tailored to your specific needs and goals. Throughout the lifetime of your account, you will have an ongoing relationship with this advisor. Your advisor will continue to help you reach your financial goals.You can take advantage of tax-loss harvesting with Dedicated Portfolios. You can maximize the return on your investments if you reduce your capital gains tax liability. Depending on the type of portfolio you choose, the annual advisory fee can be as high as 1%. For the first year, the advisory fee is not charged, giving you time to decide which portfolio is best for you.
4. Fixed Income Portfolio
If you’re looking to invest a large sum of money in bonds, you might consider opening a Fixed Income Portfolio. A bond portfolio manager will help you design your portfolio when you open this account. Your portfolio will be tailored to your needs and goals, giving you the best possible return on your investment. You will have access to a financial advisor. The minimum deposit required to open this account is $250,000. There is a tiered fee structure that may be available for larger amounts.
E*TRADE Retirement Accounts
There are several types of individual and small business retirement accounts offered by E*TRADE.
Here’s an overview of the retirement accounts available:
Individual Retirement Accounts
- Rollover IRA
- Traditional IRA
- Roth IRA
- Beneficiary IRA
- E*TRADE Complete IRA
- IRA for Minors
Small Business Retirement Accounts
- Individual and Roth 401k
- Simple IRA
- SEP IRA
- Profit-Sharing Plan
- Investment Only Account
E*TRADE Bank
E*TRADE also offers many of the same services as a traditional bank through its E*TRADE Bank division.
With an E*TRADE online bank account, you can easily move money between your investment, savings, and checking accounts.
You can access these funds in the E*TRADE app. You can transfer funds from your bank account to start trading with E*TRADE.
Let’s take a quick look at the main banking services that E*TRADE offers:
1. Premium Savings Account
You can earn up to 1.75% on your savings with the E*TRADE Premium Savings Account. It’s a great way to increase your savings and reach your financial goals more quickly. This online savings account also offers the peace-of-mind that comes with knowing your funds are FDIC-insured (up to a cool $1.25 million). There is no minimum deposit required to open an account. The account is insured by the FDIC.
2. Max Rate Checking
E*TRADE’s Free online bill pay, mobile check deposit, and no ATM fees are offered by the Max Rate Checking Account. Free customer service is also offered by the Max Rate Checking Account. Once you open a checking account, you’ll receive a debit card for withdrawing cash and making purchases. A $100 minimum deposit is required to open an account, and you will need to keep at least $5,000 in the account to avoid a monthly maintenance fee. Once you are earning from your investments, the $100 minimum deposit can easily be offset. If you have at least $50,000 in your E*TRADE account, you can avoid the maintenance fee. If you keep this amount in your account, it will waive the fee for as long as you keep it above that level.
3. E*TRADE Checking
You might want to open an E*TRADE Checking Account if you hate monthly fees. E*TRADE Checking Accounts can be used to avoid monthly checking account fees. You will receive a card for making purchases and taking out cash. Wherever Visa accepts payments, you can use the debit card. With the basic free online checking account, you’ll also have access to free online bill pay and mobile check deposits. Those old-fashioned things that actually contain paper checks are free of charge.
E*TRADE Fees
Thanks to a recent pricing battle among the leading online traders, E*TRADE now offers commission-free trades on stocks, options, and Exchange Traded Funds. The stock market has opened up to a new generation of investors.
If you make at least 30 options trades per quarter, the number can be lowered to $0.50. There may be additional fees associated with trades. Bonds trades cost $1 and future contracts cost $1.50. The cost of stock trades is determined by the market.
A full rundown of the pricing and fees that E*TRADE charges.
E*TRADE Promotions
If you register a new account, E*TRADE will give you a $3,000 cash bonus. The amount of the bonus depends on the size of your deposit and how long you keep the money in your account.
You have to make a deposit of $1 million or more to get $3,000. The return on investment could be much greater if you make a large deposit. But there are also new account bonuses for lower deposit amounts:
| Receive | Deposit or Transfer |
| $100 | $5,000–$24,999 |
| $200 | $25,000–$99,999 |
| $300 | $100,000–$199,999 |
| $600 | $200,000–$249,999 |
| $650 | $250,000–$499,999 |
| $1,200 | $500,000–$999,999 |
| $3,000 | $1,000,000+ |
Getting Started
To sign up for E*TRADE, visit their site and click the purple Open an Account button on the top right-hand corner of your browser. There is a link to the Open an Account page on the E*TRADE website.
You have to answer a few questions about the account you want to register for. To complete the registration process, you will need to confirm your email address.
You are good to go once you confirm your identity. You will be able to use the features once you access your account.
E*TRADE Security
E*TRADE has a number of security features that are designed to keep your account safe. It is easy to trust E*TRADE as your go-to platform for online trading.
A technology company with over 4,000 employees has a dedicated security staff that constantly monitors E*TRADE’s systems for suspicious activity and vulnerabilities. At all times, the security staff is committed to protecting the safety and privacy of customers.
What’s more, E*TRADE’s Any losses incurred from unauthorized use of your account will not be covered by the Complete Protection Guarantee. Phew!
Customer Support
Customer support by phone, live chat, and email is offered by E*TRADE. Questions about the E*TRADE platform, account setup, and more can be answered by the customer support team. You can meet with an advisor in person at one of the company’s 30 branches. Guidance and support on a variety of financial topics can be provided by the advisors.
To find a location in your area, use their Branch Locator tool.
Pros and Cons of E*TRADE
Pros
- Leading online trading platform for beginners to advanced traders
- Commission-free trades on stocks, options, and ETFs
- Easy-to-use web platform and mobile apps
- Solid customer service, including phone support, chat, and in-person consultations
Cons
- Tax-loss harvesting only available with over $150,000 invested (a higher barrier of entry than other firms require)
- You might get hit with some checking account fees, depending on which account you have
- Limited amount of physical branches (but hey, at least they have some!)
Alternatives to E*TRADE
Some of the most popular alternatives to E*TRADE include:
- Interactive Brokers
- TD Ameritrade
- Charles Schwab
- Vanguard
- Fidelity
- Robinhood
- Ally Invest
- Merrill Edge
E*TRADE FAQs
Is E*TRADE Legitimate?
Yes. E*TRADE has been in business for over 30 years. The company provides customers with competitive pricing, innovative products and superior customer service.
Is E*TRADE or Ameritrade Better?
This is a personal opinion. It is important to respect each other’s opinions. Free online stock trades, retirement account options, and advanced trading platforms are all offered by E*TRADE. Customer service resources include educational materials, research tools, and investment advice to help investors make informed decisions.
Since the preferences of every investor are different, I suggest doing your research to determine your investment goals and then figuring out which of the two companies is best suited to meet your personal needs. It’s important to understand that there is no one-size-fits-all solution when it comes to investing, so take the time to explore all of your options.
How Much Does it Cost to Use E*TRADE?
You don’t have to pay upfront costs or monthly fees to open a brokerage account with E*TRADE. E*TRADE has tools and resources to help you make better investing decisions. Commission-free trades on stocks, options, and bonds can be made.
Depending on how much you have invested and the type of account you have, various fees may apply. It’s important to know how these fees may affect the performance of your investments.
Which Stock Trading Site is Best for Beginners?
E*TRADE is a good place to start your investment journey. E*TRADE has both an intuitive user experience and helpful resources to help you get started.
The company has low fees and an easy to use trading platform. It will provide a reliable and secure trading experience for all of its customers. You will have access to research tools and customer support. You will be able to get the most out of your research with these tools.
Is E*TRADE Right For Me?
E*TRADE is a robust online trading platform that is worth a look. Convenient banking services, helpful customer support, and a wide range of investment options are offered by the company. With competitive rates and a commitment to customer service, the company strives to make financial management easy and accessible for all. If you prefer to meet in person, they have retail branches. Financial advice and product assistance are some of the services provided by these branches.
E*TRADE seems to be more of an advanced platform that experienced investors might feel more comfortable using. So, if you prefer to take a more hands-off approach with your investment strategy or if you’re looking for the best robo-advising service on the market, you might want to look into a company that’s better suited to meet those needs.
Don’t jump in until you understand your investment strategy and do your homework. It’s important to remember that no investment is ever guaranteed, so it’s important to always be aware of the risks and rewards. You will most likely thank yourself down the road if you put in the time upfront. Investing in yourself is a worthwhile endeavor.
Making the best investment decisions is here. Cheers to a prosperous future!
