E*TRADE

5 out of 5

Powered by: E*TRADE

At A Glance

E*TRADE is a long-standing market leader in online brokerage. With $0 commissions on ETF and stock trades and competitive pricing on other asset classes, robust research and educational resources, and an advanced trading platform, E*TRADE is a solid choice for most investors.

Pros & Cons

Pros

  • Easy-to-use trading and research tools
  • 24/7 customer support
  • Robust educational platform
  • Commission-free stock and ETF trades

Cons

  • Option trades not commission-free
  • No account syncing
  • No forex, fractional, or cryptocurrency trades

E*TRADE is best for:

  • Retirement planning
  • Commission-free trades
  • Beginner traders
  • Seasoned traders
  • Research and data

E*TRADE Key Details

Account minimum

$0

Stock trading cost

$0

Options trading cost

$0 per trade; $0.55-$0.65 per contract

Account fees
  • No annual or inactivity fee
  • $75 full transfer out fee
  • $25 partial transfer out fee
Commission-free ETFs

All ETFs trade commission-free

Commission-free mutual funds

4400 +

Securities tradable
  • Stocks
  • ETFs
  • Options
  • Bonds
  • Mutual funds
  • Futures
Account types
  • Brokerage
  • Traditional/Roth/Rollover IRA
  • Premium Savings
Fractional shares

Not available

Access
  • E*Trade web
  • Mobile app
Customer support
  • Phone
  • Email
  • 24/7 live chat
  • 30 branch locations
Promotion
None

E*TRADE Review

Our Experts Take
Sarah Pritzker - Spade Business Team
Sarah Pritzker
December 2, 2020

E*TRADE is an online broker with several physical branches for customers looking for a personal touch. This industry leader delivers advanced mobile trading and a range of trading platforms for any investor, and traders will appreciate $0 commission on many asset classes and competitive per contract pricing on others. With robust educational resources and research tools, users can learn more about trading, grow their portfolios, and diversify, regardless of their level or degree of activity.

Trading Platform

E*TRADE Web

This web-based trading platform offers a wide range of resources and tools to enhance the trading experience. The platform delivers up-to-date streaming market data, live market news with in-depth commentary and analysis, and real-time quotes to quickly make well-informed investment decisions.

Other features of the platform include stock, mutual fund, bond, and ETF screeners and a user-friendly account dashboard with curated watchlists and trade options based on your individual criteria. Execute trades quickly with the platform’s seamless order ticket, or move your money at no cost with free check writing and money transfers.

Power E*TRADE

E*TRADE’s more advanced web-based trading platform delivers a broader range of investment and trading resources for savvy traders. The main benefit of this platform is the ability to formulate trading strategies and sophisticated charting utilizing 100+ technical studies and 30+ drawing tools. Charting is enriched with technical pattern recognition so that users can get a complete picture of anticipated outcomes of trades.

Power E*TRADE Mobile App

The Power E*TRADE trading platforms is available in-app format for Android or iOS operating systems, allowing users to easily manage accounts, execute trades, and stay up to date with real-time quotes and news. The Power E*TRADE app includes many of its web-based companion platforms’ capabilities with interactive charts, technical studies, streaming market information and news, and quick trade functionality.

Research Tools

E*TRADE offers users an extensive range of research tools presented in an easy-to-understand format on the platform interface.

Snapshot and Spectral Analysis

These features help traders visualize the risks and rewards of specific trades. By viewing probabilities and digging deeper before taking the plunge, users can better understand risk matrices for enhanced options strategies.

Live-Action

This feature for options strategy scans possible trades with outsized volatility, giving traders access to more unusual trades and more substantial potential gains.

Advanced Charting

Powered by Chart IQ, E*TRADEs charting function delivers 119 optional technical indicators and 32 drawing tools. Used with flexible screeners across various asset classes, platform users have access to sophisticated technical analysis.

Market News and Analysis

E*TRADE users are always up to date with streaming news from Dow Jones, MarketWatch, BusinessWire, and Bloomberg TV. The platform offers real-time third-party analysis from a range of vetted sources, including TipRanks, Thomson Reuters, Morningstar, MarketEdge, Trefis, and more.

Education Resources

E*TRADE offers a wide range of educational resources for beginner investors to learn more about trading.

Investment Basics

The site hosts an array of webinars, articles, and FAQs to help new users improve their skills, execute more complex trades, and grow their portfolio. Users can also access Morningstar investing courses online through the platform.

Advanced Trading

In addition to a vast library of online resources, E*TRADE delivers in-depth information for asset-specific guidance. Insights and perspectives on the market, daily development reports, weekly and monthly recaps, and asset or milestone-oriented strategies – for example, for retirement or tax planning –  let users attain their financial goals.

Live events

One way that E*TRADE stands out from the competition is by delivering frequent live events. With in-depth webinars, online conferences, and content on-demand, investors have an opportunity to learn and network, fostering a nationwide community of E*TRADE users.

Paper Trading

This simulated trading platform lets users improve their investing skills and strategies without committing real money. Gain a deeper understanding of analysis tools, leverage market data, and test ideas before taking the plunge.

Advantages of E*TRADE

Two trading platforms for different investor needs: E*TRADE Web and Power E*TRADE are free to all customers, with no fees or required balance minimums. With user-friendly interfaces and a wide range of functions to help you decide how and where to invest, these platforms are ideal for any user level.

No commission trades: With no cost on ETF, stock, and mutual fund trades, users will save a bundle over time. Most online brokers now offer commission-free trades, and E*TRADE is leading the charge with a variety of assets tradable at no cost.

Mobile app: E*TRADE mobile offering stands out for its seamless interface, clean mobile charting, and ease of use. Available for both trading platforms and iOS and Android, these apps let users stay on top of their portfolios, glean critical insights, and execute trades on the go.

In-person customer service: On top of E*TRADE’s comprehensive customer support, investors benefit from 30 brick and mortar branches staffed by financial consultants.

Disadvantages of E*TRADE

No account syncing: Many online brokers offer the option of consolidating external accounts for complete financial analysis. This option is not available on E*TRADE.

Some assets not available: E*TRADE doesn’t offer international trading, forex, or cryptocurrency trading. However, these assets are unavailable at most US-based brokerages.

Is E*TRADE Right For You?

E*TRADE delivers two leading trading platforms and companion mobile apps free to all users. With well-rounded offerings, comprehensive educational and research resources, and a range of commission-free trade options, this full-service online broker is ideal for investors at any level. Active traders will appreciate the advanced tools, while newer investors can benefit from 24/7 customer support and an easy-to-use interface.

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