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About E*TRADE Reviews
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E*TRADE is an online broker of investment trading. The company offers investment accounts for individual investors and small businesses in the form of stocks, mutual funds, futures, options, bonds, CDs and prebuilt portfolios. In addition to individual online trading, the company offers portfolio management services for an additional cost.
Pros & Cons
- Educational materials
- Online platform and mobile app
- Commission-free options
- High broker fees
- Limited local branches
E*TRADE is an online trading platform and investment firm that offers individual trading and managed portfolios. It provides commission-free trading on certain investment products.
Outstanding program. Displays various trend forecast graphs - very useful tools for making decisions to buy or sell. It has no commission to buy and sell stocks which is nice. Plu...Read full review
I have used E*TRADE for several years and I really appreciate the efficiency of their website. It is very easy for me to buy, sell and make transfers. What sets them apart from ot...Read full review
What is E*TRADE?
E*TRADE users can take advantage of a full range of investment services, including stocks, futures, options, ETFs, mutual funds, bonds, CDs and prebuilt portfolios. Users can choose from a variety of account options. These include brokerage, retirement, core portfolios, managed portfolios and small business accounts, as well as online banking accounts.
Customers who want the guidance of a broker can take advantage of a range of services, including managed portfolio options. However, E*TRADE was designed to let the average Joe trade without the help of a broker, and the services that set it apart from other online investment firms do just that.
For example, E*TRADE has a widely-used app that was designed with beginner investors in mind, as well as a library of investing information geared toward users who are new to personal finance.
How does E*TRADE work?
New users should begin by opening an account through the website and downloading the E*TRADE app, a process that should take about ten minutes. You’ll choose between four types of accounts: brokerage, retirement, managed portfolios and small business retirement accounts.
E*TRADE suggests those new to investing consider brokerage accounts, specifically ETFs or mutual funds. Fund your account in one of four ways: by transferring online (three business days), wire transfer (same business day), transferring a brokerage account (10 business days) or mailing a check (five business days).
Once the account is funded, users form an investment plan using E*TRADE’s online tools. After deciding on a plan, search for trades that match your needs and enter those orders using an online trading ticket. Portfolios update in real time, and E*TRADE provides online tools to help investors monitor the market.
If you need help navigating E*TRADE, call, chat live on the website or email customer support 24/7.
Online, self-directed stock orders are commission-free through E*TRADE. Fixed-income portfolios charge a blended annual advisory fee that can range from .35% to .75% depending on how much is invested and whether or not the portfolio is managed.
Online option orders are $0.65 per contract, though users who trade 30 times or more per quarter pay only $0.50 per contract. Broker-assisted transactions charge $25 per trade plus $0.65 per contract.
E*TRADE’s margin rates are graduated, beginning at 8.95% for those who invest $10,000 or less and ending at 5.45% for those who spend $1 million or more.
What does E*TRADE do?
E*TRADE helps non-professional investors trade without the guidance of a broker. With investment opportunities including stocks, options, ETFs, mutual funds, bonds, CDs and prebuilt portfolios, E*TRADE offers a full spectrum of investment services. The company offers brokerage, retirement, core portfolio, managed portfolio and small business accounts, as well as traditional online banking accounts like checking and savings.
Is E*TRADE good for beginners?
Yes, this platform is great for beginners. E*TRADE guides new users through its app and online platform and educates them with infographics and charts. In addition, E*TRADE maintains a library of educational materials for new investors.
How much does it cost to use E*TRADE?
While stocks, options and ETFs cost $0 in commission, options contracts begin at $0.65 per contract and drop to $0.50 per contract after 30 trades per quarter. Futures contracts are $1.50 and bonds are $1 per bond with a minimum of 10 and a maximum of 250.
Does E*TRADE have a minimum balance?
While unmanaged brokerage accounts have no minimum balance, managed options do. Core portfolios, which are robo-managed funds, have a minimum of $500. Other managed portfolios have higher minimum balances: $25,000 for blend portfolios, $150,000 for dedicated portfolios and $250,000 for fixed-income portfolios.
Is E*TRADE good?
E*TRADE is a great choice for investors who hope to trade with no help from investment professionals. The company makes trading accessible for beginners with its educational materials and simple platform, and it provides access to customer service representatives who can help if you’re having technical issues. However, E*TRADE’s broker-assisted trades cost $25 per contract, so its managed portfolio option may be cost-prohibitive.
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Reviewed Sept. 29, 2023
They accepted deposits but No withdrawals, froze my wallet for no good reason, can you imagine?. All of my bitcoins trapped for months, their customer service never responded to a single email from me! No one to call or talk to, such lack of integrity, I can't imagine how many innocent people who E*Trade has swindled, I came across HIGHFORESTCAPITALLTD.COM and with their assistance, I got back my $79k investment.
Reviewed Sept. 25, 2023
I have been trying to transfer my money from e*Trade to the financial advisor handling my retirement account I have at BMO for at least 5 months. (Now that I'm retired, I've consolidated all my money to 1 account.) I've filled out the application they said was missing in June, 3 months ago. They are still "reviewing" my request. The SEC is now involved. They contacted them twice and still my transfer request is being denied. I would leave 0 stars if I could.
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Reviewed Sept. 15, 2023
Made my initial and only investment in 2018 and left my account in what I thought was "good hands". Went online this year (2023) to make an investment and learned my account had a "Restriction" on it that prevents me from accessing my $. Spoke to customer support 6/16/23, 6/29/23, 6/30/23, 7/05/23, 7/14/23, 7/25/23, 8/15/23, 9/08/23, 9/15/23. Jumped thru all their hoops, told I needed to "REPAPER" account, did so, told I needed to re-verify bank, did so, and now 3 MONTHS LATER - STILL CANNOT GAIN FULL ACCESS TO MY ACCOUNT. Called Morgan Stanley on 9/15/23 and they advised they cannot access E*TRADE. ***DO NOT USE E*TRADE!!**
Reviewed Sept. 7, 2023
I have been a customer over 10 years and I've noticed that over the last couple of years, the service department has been getting progressively worse. My most recent experience is a relatively simple request to consolidate a separate account of my wife's under my log-in. The main problem with E*Trade is that their customer service personnel cannot speak directly with the back office operations department. They can only email. I have spoken with no less than 14 people, including two supervisors and the research department, spent over 6 hours on the phone, and they still can't figure out why the back office keeps rejecting the request. Every time I call they promise to escalate and/or follow-up, but only 2 have and neither had good news. I frankly can't figure out how they manage to stay in business, and having Morgan Stanley purchase them certainly hasn't helped the situation. My advice, run away! Run as fast and far as you can!
Reviewed Aug. 2, 2023
I have been a long term customer of E*TRADE. However, of late, there have been so many issues. I have recommended numerous clients of mine to Etrade. However, I am forced to take mine and my client's business elsewhere. They are not the same. They are arrogant and high handed. Time to find an alternative.
Reviewed June 19, 2023
Since Morgan Stanley took over E*trade, I have had issue after issue. The glitches, where I keep being taken to the wrong section, when I try to access personal investing vs. retirement are bad enough but now I'm locked out of my account completely after about 6 years of no prior problems. I can't get into my account, so I was on the phone trying to set up security (which is really "information gathering") and the associate was very nice. I sent my official ID through cyberspace (not something I like to do) and she supposedly set up access to my account. I'm able to access it twice and now I'm locked out again. They have very "limited two form authorization" (no email, no landline call (which my bank allows), only password and personal cell phone). The syntax they sent me failed to work and it seems my security questions did not set up.
I'm being told I need to spend another hour on the phone sending my ID through cyberspace, etc...because they don't have their system roll out ready for prime time. They have no options for people who share a cell phone like I do with my husband. Cell phones (EMF waves) give me a headache. So, here I am leaving a review on how I have been locked out of my account again. Will I ever be able to continue access to my account without unexpected, random lockouts?
I feel it might be best if my husband and I take our savings and retirement and move it to some place where we can actually have 24 hr., unhindered access to our personal accounts...Pretty important! I feel upset at this point because one thing a bank should never do is keep a person from being able to access their account or account status. Locking us out of our money is not OK for any reason...especially when we are a long-time customer with a lot of history and never any problems.
Reviewed June 1, 2023
I have never dealt with a more difficult company. I was using a new browser that needed a 2nd verification code for me to be able to get into my account, even though I provided the correct username and password. They were trying to text a 2nd verification to my home phone. I called and asked if they could give me the code over the phone. Of course, they could not. They wouldn't email, even though I have an email address on file. I was on the phone for 52 minutes trying to get a code to get into my own account. I gave my address and my employee number but because I didn't know the exact day of my hire date 22 years ago (I gave the month and year correctly) I could not get a code. While I realize online security is a must, I feel this went a little over-the-top. I am certainly going to look into transferring this money into a different account and will hopefully never have to deal with this company again.
Reviewed April 12, 2023
My mother had $20 remaining in her account for many, many years. They never bothered to refund her money. How many millions of people do they screw in this way and how many millions or billions do the fat cats at the top of the food chain make from this unconscionable behavior. So far I am on my fourth call to try and retrieve this money. First they have to close up her account but they can’t do it that day. Then they can close it up the next call but it will take a couple days to open it up. I call to open it up but that will take a couple days to get the money out. I call a couple days later they say it is not open yet. On this latest call I am on the phone so far for 25 minutes and counting waiting to speak to a supervisor.
Do not deal with this horrific company. They are really slimy beyond belief. I don’t give a damn about the $20 but will not let them win. They are counting on people giving up. The majority will give up and they win. A minority will fight it and then give up. They win. A small percentage will fight it and not give up. It’s a good money maker but incredibly slimy.
Reviewed March 14, 2023
I used E*Trade for about 20 years, maybe more, but I finally had enough and left. My experience was positive for most of that time, but in the past six months things went downhill badly. I had access to their "elite team" for allegedly superior customer service, but even that became dreadfully poor. They failed to provide timely notice when a check I deposited bounced, there are incredibly long hold times and service reps who are not properly trained, and I found far too many bugs in the website, app and general corporate operations. The E*Trade point of contact assigned to work with me was kind but often ineffectual and failed at basic tasks like putting up an auto responder when he was out of the office, so once I didn't hear from him for over a week after I reached out.
Reviewed Jan. 31, 2023
Claimed I'd get "white glove" service for being with them for over 14 years and having a very substantial balance. Instead, Louis ** and 5 other operators confirmed that I can't take money out of my account on-line...only put money in because I have a credit line. Their tool to pay down the credit line was broken, and the "direct personal advisor" I had quit with no replacement, so literally there was no pay to pay down the credit line without eventually waiting on the phone for an hour. Look elsewhere.
E*TRADE Company Information
- Company Name:
- Year Founded:
- 1271 Avenue of the Americas, 14th Floor
- New York
- Postal Code:
- United States
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