E*Trade was established in 1982 and has been in the discount brokerage market from the start. This in itself is a great crowd puller for E*Trade. They have been front leaders in discount brokerages and over the years have gained respect and awards from the trade world. They have been reviewed and then praised by prestigious firms like Smart Money and Barron’s.
E*Trade offers trades at nine dollars and ninety nine cents – It can be lesser if you trade frequently.
You can choose from a whole wide bouquet of Mutual funds (one of the largest collection of more than seven thousand and six hundred types of Mutual Funds to choose from), their educative content is absolutely free – it also includes researches.
They have round the clock highly efficient customer care team and a trading platform that is user friendly.
Advantages of being associated with E*Trade
- You can invest in foreign markets
- A wider array if investment products to choose from
- Round the clock care team – Available on phone
- Mobile trading for smart phones
- Research tools those are educative and exhaustive
Challenges with E*Trade
- The care is not available with chat feature
- If you are an active trader then having a E*Trade account is more beneficial for you but if you are a not frequent trader E*Trade may turn out to be a bit more expensive
- The charges and commissions and fee for E*Trade are higher for non active traders
Conclusion on E*Trade:
E*Trade boasts of more than two million users who have used E*Trade. E*Trade is not a new kid on the block, it has been in the industry since the start and hence you can easily rely on the reams of educative material and stock history that it would have.
E*Trade is beneficial for those who have more trades per day ( more than one hundred and fifty) and keep a loaded balance in their account ( more than fifty five thousand dollars) and are always looking for a high number of investment products.
Opening an account on E*Trade
- To open an account on E*Trade will not take more than 15 minutes and is completely online.
- Just be sure to have your details handy (address, SSN or Tax ID #, employer name and address). You may have to punch in some while creating the account.
- There is no initial deposit required to open an account
- And neither is there any deposit required for
- Custodial, or
- Employee stock plan accounts.
A brief preview on Fees and Commissions
- Seven dollar and ninety nine cents per stock or options if you trade for more than one hundred and fifty trades each quarter
- If not then you will have to pay nine dollars and ninety nine cents per trade for the stock option and futures trade
- There is an additional fee of seventy five cents per options contract and an another additional two dollars and ninety nine cents per futures contract
- There is a forty five dollar fee for broker assisted trades
- Twenty five dollars per quarter maintenance fee if your account is less than five thousand dollars or if you make less than two trades
- Two dollars for a paper statement every time
And a sixty dollar fee for Automated Customer Account Transfer Service
Trading tools for your investments:
- E*Trade platform can be customized as per your needs.
- E*Trade trading platform is navigable and very user friendly. It makes trading fun
- E*Trade mobile trading is state of the art and is available for all smart phones
- E*Trade is also a provider of banking services like
- High Interest Savings accounts
- Checking accounts
- Mortgage accounts
Investments Offered at E*Trade
- Mutual Funds & ETFs
- Bonds & Fixed Income
- International Investing
E*Trade’s platform is amazing and E*Trade is still improving on it. They have many features for trading, Options and futures. They offer a wide bouquet of foreign investments along with ETFs, mutual funds and fixed income investments.
- Live Streaming CNBC TV
- Strategy Scanner
- Sophisticated Options Tools
- Streaming News & Watch Lists
- Sector & Industry Tracker
- Powerful Charting & Technical Studies
E*TRADE Mobile Pro
- Buy Sell Anywhere
- Track Markets from your phone
- Integrated with your online account
- Move money on the go
New set of options trading tools
- Trade ALL spread strategies
- Low Commission Pricing
- Options Charting & Technical Studies
- Dedicated Options Support
- Options Screen-er
- Options Analyzer
- Probability Calculator
- Strategy Optimizer
- Full range of commodities, currencies, financial s, indexes, energies, and metals.
- Competitive Margin Rates
- TT_TRADER™ Platform
- Free Daily Market Analysis
- Futures Trading Specialists
- Advanced Charting
User friendly E*Trade :
- E*Trade as already mentioned is easy to use, navigable and friendly. It makes trading a pleasure
- The trading platform is available in many ways –
- Mobile for i phone and smart phones including android phones
- Web based trading platform that works on any browser and does not require any downloads
- Desktop platform that works like an application on the client side
Customer Care team:-
- They have round the clock support for care.
- They are highly efficient and respond to all your queries.
- The chat option is mission on E*Trade. This is one of the draw backs of E*Trade. Though they have round the clock phone help available
Awards and Accolades:
- A five on five from Smartmoney for Trading Tools, Customer Service and Banking Services for the year 2010
- A four on five starts for the year 2010 from Barrons for Long Term Investing Tools and International Trading
E*Trade has been in the market for quiet some time and was the pioneer in brokerage houses. They have users from around the world. Since they are the oldest in the industry they have huge data and knowledge in the online brokerage field. They are on the high side for not frequent traders but for those who do heavy trading E*Trade is one of the online brokerages that they should go for. Their mobile application runs on all phones from Blackberry to i phone to Android phones. They have a high end trading platform and they offer a wide choice in investment products.
E*Trade is one of the trusted names in the online brokerages.