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ETRADE

By on November 1, 2012
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Tools & Research
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E*Trade Logo

 

ETRADE, the famous brokerage based in New York CITY, USA, traces its origins back to 1982. Its online trading operations were started from 2001. Today they offer investment opportunities in stocks, options, ETF’s, mutual funds, bonds and futures, as well as banking services.

In this E*TRADE review, I’ll cover what they have to offer investors, who they’re right for, and give you guys some links to the latest E*TRADE promotions. If you’ve used E*TRADE before, please add your own rating and review below.


E*TRADE – The Basics:

Investments: Stocks, options, ETF’s, mutual funds, bonds, futures and FOREX. International trading opportunities in some of the world’s top markets which include France, Germany, Hong Kong and Japan.
Commissions: Stocks and ETF’s costs $7.99 per trade if over 149 trades are made per quarter. Otherwise $9.99. Mutual funds cost $19.99. Option trading costs a regulatory fee of $0.014 per contract with a minimum of $0.04. Each futures contract costs $2.99.
Investor Education: Free investing and trading education via videos, live events such as webinars and seminars, interactive demos and live workshops.
Mobile apps: iPhone, iPhone, Android and Blackberry. A mobile website is also available.

In addition, E*TRADE boasts solid customer service, executives can be reached 24/7 via phone, email and retail locations. An active online trader community also goes a long way in helping an investor, especially for beginner and novice investors.

The minimum to open an account with E*TRADE is $500. Find out how you can trade free for 60 days when you open your account.


Pros & Cons Of E*TRADE:

Pros Cons
  • 24/7 customer service
  • No account maintenance fees
  • Very user friendly website
  • Great broker for novice brokers and for long term investing according to Barron’s
  • Great trading tools & banking options
  • Great research tools and other amenities.
  • High commission rates across all investments
  • High margin rates
  • Complaints regarding customer service
  • Advanced platform not available to all clients

How Others Rated E*TRADE In 2012:

Barron’s: 4/5 stars

          Highest rated category: Research Amenities

          Lowest rated category: Costs

Smart Money: 4th Overall

         Highest rated category: Tie (Trading Tools and Research)

         Lowest rated category: Commissions and Fees


Word On The Street Is…

E*TRADE is one of the best known and greatest brokerage firms in the U.S. Despite their high commissions, which have been lowered considerable compared to past rates, E*TRADE is still a preferred destination for online traders because of their banking services and great trading platform.

Barron’s has rated them as among the best brokerages for novice investors and for long term investing. Their platform is highly customizable which adds to its value. Their offerings in investor education are also a prime draw. 57 live events were held in 2011 alone with more promised in 2012.

Overall takeaway: E*TRADE is a suitable pick for beginner and novice investors.


E*TRADE Promotion Code:

 

Hit the link below to claim the latest E*TRADE promotion. Click below to claim promotion code TRADE FREE FOR 60 DAYS + GET UP TO $500!

 


Where To Open An E*TRADE Account:

Open A Personal/Joint/Custodial/Business Account With E*TRADE: Apply Here
Open An IRA Account With E*TRADE: Apply Here
Open A Forex Trading Account With E*TRADE: Apply Here

P.S. Don’t forget, if you’ve used E*TRADE before, please help us by adding your rating and review below!

 
References:

About Peter Voga

Self-confessed coffee addict. Family man. Rage Against The Machine fan. Lover (and sometimes hater) of the stock market. Founder of BrokerChats. For more, follow me @petervoga or check me out on Facebook or Google+.

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