E*TRADE Review


E*TRADE

Summary


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Quick Facts

Minimum Deposit
$500
Trade Commission (Stock)
$6.95 per trade
Trade Commission (Option, per trade)
$6.95
Trade Commission (Option, per contract)
$0.75

E*TRADE Fee Structure

Trade Commission (Stock)$6.95
Trade Option (Option, per trade)$6.95
Trade Commission (Option, per contract)$0.75
Broker Assisted Trade$25.00
Mutual Fund Trade Fee$19.99
IRA Annual Fee$0.00
IRA Account Closing Fee$60.00

E*TRADE Tradeable Instruments

Stocks
Options
Forex
Futures

E*TRADE Features

24/7 Support
Virtual Trading
Retail Locations30
ATM Fee Reimbursement
Checking Account
Savings Account
Commission Free ETFs118
Clearing CompanySelf clearing

Supported Platforms

Trade on your terms. Whether you prefer the power of a native desktop client, the convenience of a web platform, or the mobility of an iOS or Android app, make sure that the brokerage you select works the way you like to work.

Web

Windows Desktop

iOS Tablet

iOS Phone

Android Tablet

Android Phone


Expert Walkthrough

E*Trade was the platform I chose when starting my online investing. Why? Here are a few of the key areas where E*Trade won my affection:

  • Thousands of ETFs and Mutual Funds including NO LOAD Funds
  • Free and thorough webinars and education
  • Inexpensive trades
  • Easy to use interface

If you’re like me then your investing is typically simple, efficient, and streamlined. But I wanted to know that I had a full feature brokerage that would give me access to all the features I might want on occasion. When times call for advanced trading you’ll want E*Trade’s:

  • Options trading
  • Futures and Commodities
  • Research
  • Charting
  • FOREX
  • Advanced Trading Platform (OptionsHouse)

E*Trade is great for investors who need access to a well-rounded platform and a brokerage that can be as flexible as you are with your investing. Other brokerages excel in certain areas, such as options or futures. E*Trade instead takes the middle of the field and can help you play all bases.

Trading Platform and Interface

One thing that online brokerages still haven’t worked out is a great interface. Every brokerage I’ve tried seems to lack in this area. While it’s true that E*Trade could afford to improve the ease of navigation, the site is organized overall. I’d like to see a little more work done to make the sprawling interface more intuitive to navigate, though.

Account Types

E*Trade supported my very first Roth IRA when I opened it and they will support many more. Users can easily open any of the following account types with E*Trade:

  • Brokerage
  • Coverdell
  • Custodial

Retirement Accounts

  • Traditional IRA
  • Roth IRA
  • Rollover IRA

Business Accounts

  • Individual & Roth Individual 401(k)
  • SEP IRA
  • Simple IRA

If you’re not aware of all the different account types available to you, let me just say that E*Trade offers pretty much all of them. Most investors will only ever use a Rollover IRA, personal brokerage, or a Roth IRA account. It is nice to have all these account types at your fingertips though!

Customer Support & Education

I have spent many hours inside the E*Trade webinars and training sessions. They do an amazing job of putting together helpful and deeply informative educational sessions for free on a regular basis. I’ve even gotten the personal email of more than one E*Trade educator who I reach out to on occasion.

It’s amazing to see such personalized and thorough support from a brokerage where it would be all too easy to get lost as a number.

Research

Research is abundant and easy to gain through each investment quote page. With organized tabs for Analyst Research, Fundamentals, Earnings, and Insider Activity you’ll be able to get a well-rounded view of each investment.

I like that users have access to research from Tipranks, Thomson Reuters, and CFRA for most investments. I uses these easy reports (available in PDF form) to help round out my investment decisions before making a trade.

Trading Fees

On average, E*Trade has moderate to low fees on investment products. Again, there are online brokerages that feature lower trade commissions, or options commissions. However, these smaller brokerages tend to lack the other full featured power of a platform like E*Trade.

With that in mind, the $7 trade commission on stocks and ETFs becomes very reasonably priced!

There are no annual fees for IRAs or hidden costs on accounts. It’s also very easy to find no load mutual funds which trade commission and sales load free! Using E*Trade’s exclusive All-Star Fund list you can sort mutual funds and easily locate top performing funds with no transaction fee (NTF).

E*Trade Mobile

E*Trade offers a full featured mobile platform. On the mobile platform you can execute trades, see your account overview, and more. Compared to other full-featured competitors E*Trade is at or above the curve on tech integration.

That being said, E*Trade and other brokerages have a long way to go if they want to keep up with innovators such as Robinhood, Acorns, or other fintech apps. The mobile platform feels restrictive, bloated, and inefficient compared to non-traditional brokerages such as M1 Finance.

Overall the tide needs to rise when it comes to tech integration for the major brokerages, but E*Trade is at least keeping themselves near the top of the pack.

Who Should Use E*Trade?

E*Trade is a great first (and last) platform for investors looking to have access to a flexible and modern full-feature brokerage. It’s simple enough that an investors with no prior experience can set up a Roth IRA, transfer funds, and buy their first mutual fund in just a few hours of work.

You won’t find the absolute lowest fees or commissions at E*Trade but you will find very fair and competitive prices. You’ll have access to just about every type of trade and you can execute them from your computer or smartphone.

E*trade is extremely competitive for the newer investors or more casual investors. While you can day trade with the platform, it’s probably best suited for buy and hold investors who want room to grow and move into new products as their knowledge and experience evolve.



E*TRADE Reviews

Cash Money Life

Has a full service bank and other free features E*TRADE is not the cheapest discount broker on the scene, but they offer some of the best value. Their full service bank and variety of other free resources and features make E*TRADE one of the best discount brokerage firms on the market.

Frugal Rules 2016-08-12

Tools are high quality plus more I think for many, E*TRADE is a great option to consider if you’re looking for a place to manage your investments. They do have a solid amount of offerings and have high quality tools to use. E*TRADE offers a good number of mutual funds and 110+ commission-free ETFs. The other thing I like about E*TRADE is their maturity allows them to offer a number of different things you won’t be able to find at most other brokerages.

Reviews.com 2015-11-11

User-friendly and sufficient resources for investors E*TRADE is firmly entrenched near the top of the industry by offering every resource that any level of investor would need. Although the costs and fees are among the highest around, E*TRADE compensates by providing a great user experience along with exceptional trading tools and technology.

Modest Money 2013-06-28

Best tools in the market Larger investors will love this option. The pricing is going to be perfect, and as an investor with a good chunk in the market, you’ll know how to take advantage of the tools they have available. And you’ll most likely take the time to use them. So, if you have a lot to invest, this is going to be a great option for you.

Credit Donkey 2016-07-24

E*TRADE is a useful platform for investors along all experience levels who want to open stable, long-term investment accounts.

StockBrokers.com 2016-12-19

Satisfaction guaranteed with their great website and app While E*TRADE may not have the cheapest trades, the broker provides an easy-to-use website, a high quality mobile experience, and excellent research that will satisfy both casual and active investors.

Nerdwallet 2016-01-28

Might be expensive for casual investors, but good for frequent traders E-Trade has long been one of the most popular online brokers, largely because of its easy-to-navigate online experience on both its website and mobile app. The company offers a tiered commission structure that favors frequent traders but can add up to high costs for casual investors.