E-Trade Review

E-Trade is an online broker with efficient marketing practices and full-court press advertising. The trading platform is easy to use and has a great design. It also has a library with educational tools and resources that will help you assemble a balanced portfolio that is risk-appropriate.

Features

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

This broker has features that make it perfect for beginner investors and frequent traders. Seeing that they have won the NerdWallet’s award for their investment selection. You need a minimum of $500 to open an account with them.

Their entry level offering, E-Trade Complete Investment account that offers a lot of value and service. It allows you to open a bank account that can easily be integrated with the investment account. This makes it easier for you to make funds transfers and quick trades.

Their E-Trade banking account comes with a debit card, a free unlimited checking, free ATM free refunds, and free online bill pay. Their brokerage offers over 80 exchange traded funds that are commission free.

They also have over 1300 no-transaction and no-load fee mutual funds, free access to investing tools, free tutorials, web seminars, videos as well as other educational resources. Their IRAs have account minimums and no annual fees.

With this account you will get complimentary retirement guidance, planning tools, as well as a suite of incredible investing. To open the standard trading account you need a minimum balance of $500.

The next level of service is the Power E-Trade Account. This account is available to traders and investors who make at least 10 trades a month, or at least 30 trades or options in one quarter. It has more advanced charts, advanced trading tools, screening tools, analytical tools, and access to their Pro trading platform.

Through E-Trades you can open or maintain an IRA without any minimums or fees. With the E-Trade trading platform you will enjoy a variety of tools that will allow to make informed investments decisions or trades.

Some of the tools you will enjoy are the streaming stock quotes, stock, fund, harts, and EFT screeners that will allow you to find the investments that will meet your trading requirements. You will also find an investor resource center that lets you conduct your research, communicate with other investors, and read articles.

They also feature a Mobile Pro app for iPhone, Blackberry, and iPad. Their commissions per trade is $6.95. The cost for each contract for the options trades and the standard trades are the same. Their web offers free real-time quotes, free streaming market data, analyst research stock screeners, live market commentary and more.

From the dashboard, you can create watch lists, track your accounts, make trades, and view streaming market data.

Pros

  • Commission free ETFs
  • Incredible tradable securities
  • No annual or inactivity fee
  • He mobile app has advanced features that is more like a desktop trading platform
  • Offers free and extensive data

Cons

  • The commission fees are higher
  • Its not the best for investors who need advice and guidance
  • Not the best for beginners who have limited trading experience

Conclusion

At the end of the day this is an ideal broker for all investors thanks to features like large selection of commission free ETFs, investing tools, retirement planning resources, innovative trading technology, and no-transaction-fee mutual funds.

 

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