Etrade offers an array of investment products at reasonable cost to investors. With the addition of banking, and futures and forex, Etrade is worth taking a look at.
Etrade Commissions & Fees
Trading stocks and ETF’s carries a $9.99 charge. Customers placing more than 150 trades per quarter receive discount pricing at $7.99 per trade. Options are an additional $0.75 per contract. The commissions are pretty high compared to $8.95 for Charles Schwab, $7.95 for Fidelity, and $7 for Scottrade.
Futures trades are $2.99 per side, and forex is commission free because there’s a markup in the bid-ask spread that compensates Etrade.
The brokerage offers more than 8,000 mutual funds, of which 1,300 carry no-load and no transaction fee. The broker charges $49.99 an early redemption fee for no-load NTF funds hold for less than 90 days.. Mutual funds that carry a transaction fee are $19.99 at Etrade.
Etrade offers its customers more than 100 commission-free ETF’s with a 30-day holding requirement. A short-term redemption fee is $19.99 for customers with up to 149 stock and options trades during quarter, $15.99 for all other clients.
The brokerage provides investors access to both government and corporate debt. U.S. Treasuries at auction and on the secondary market are free to trade. The transaction fee for other bonds is $1.00, with a $10 minimum per order and a $250 maximum.
As of September 2016, Etrade’s margin rate is 8.69% for debit balances less than $25,000.
Etrade Research Review
Etrade has an assortment of educational resources for its clients, consisting of articles, on-demand videos, and in-person seminars at select cities. A variety of topics are covered in these resources, such as options, fixed-income, and IRA’s. Some of the material is pulled from Morningstar. A handy resource that many securities brokers don’t offer that Etrade does is futures research, including a dedicated futures customer service phone line.
Etrade Customer Service Review
Etrade customer service can be contacted via an on-line chat system, phone, fax, or e-mail. Phone service is available 24 hours a day, 7 days a week. Using the web site, customers can perform a variety of tasks, such as sell fractional shares, order a debit card, or pay bills. Etrade also has local branches in several cities, where customers can find investment advice and live seminars.
here is a discussion forum on the Etrade web site, but it isn’t very active.
Etrade Cash Management Features Review
Etrade has an FDIC-insured bank that offers a checking account with the standard $250,000 insurance. The deposit account can be linked to an Etrade brokerage account. The checking account comes with a Visa debit card and checks. Etrade rebates ATM fees for customers who have a minimum balance of $5,000, or who have combined balances across all Etrade accounts of at least $50,000.
Etrade Trading Tools Review
The web site is intuitive and easy to navigate. Etrade’s Total Trade Ticket can be used to place orders for stocks, options, and ETF’s. Conditional orders are available.
Advanced platforms are available to frequent traders or to customers who are willing to pay a rather steep monthly fee of $99.95. Etrade Pro is a desktop application, and Etrade MarketTrader is a browser platform. Both come with various features that would benefit sophisticated traders, such as Level II quotes, streaming charts, and market news.
Etrade Mobile Trading Features Review
Etrade has applications for iPhone, iPad, Android phone and tablet, Amazon Fire phone, Kindle Fire HD, and Windows phone. The iPhone app has the most features. The interface is easy to navigate. Users will find a trade ticket, charts, educational videos, mobile check deposit, and many other features. There is a CNBC video archive available at no additional cost, although live CNBC streaming is only available to active traders or to clients who elect to pay a very steep $99.95 monthly fee. Despite this disadvantage, the Etrade mobile app is one of the best brokerage apps.
Etrade has recently rolled out an app for Apple Watch for the most busy and tech savvy of traders.
Etrade's Additional Benefits
Etrade is one of the few brokerage firms in the U.S. that offer futures and forex, in addition to the standard selection of securities. Unfortunately, customers who want to trade futures and forex must open separate accounts.
Besides their standard brokerage account, Etrade also offers IPO’s and IRA’s.
For clients wanting to pursue financial opportunities worldwide, Etrade offers access to international markets. Investors can trade securities directly on Canadian, French, German, Hong Kong, Japanese, and UK markets in local currencies. Once again, Etrade customers who want this capability will have to fill out another form.
|License||FINRA, SIPC, NFA : 0380377|
|Trading Platforms||E*TRADE Mobile, E*TRADE Website, E*Trade Pro, E*Trade FX, Market Trader|
|Bonuses & Discounts|
|Phone:||1-800-387-2331, +1 678 624 6210|
|Address:||Time-Life Building, New York City, United States|
great Broker. no problems at all. thier desktop app is extremely fast and smooth. only problem is PDT rule :(  ZaidAlchalabi   2016/10/10 11:59
I would suggest Scottrade. UNLIKE etrade and other brokers you dont need to trade a minimum of stocks per quarter to avoid any fees! So you can buy low, forget about them, and sell high later whenever your ready as their aren't any maintenance fees. Other sites also require a large deposit that has to be wired from your bank account.  Mike   2016/10/10 11:59