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E*TRADE

E*TRADE

 3.8/5 (628 ratings)
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About E*TRADE

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

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.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • Educational materials
  • Online platform and mobile app
  • Commission-free options

Cons

  • High broker fees
  • Limited local branches

Bottom Line

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.

Top E*TRADE Reviews

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Rated with 5 stars
Verified

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...

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Rated with 5 stars
Verified

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...

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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.

E*TRADE fees

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.

E*TRADE FAQ

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.

E*TRADE Reviews

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How do I know I can trust these reviews about E*TRADE?
  • 3,427,514 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

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Page 1 Reviews 0 - 5
Rated with 5 stars
Verified Reviewer
Original review: Dec. 4, 2020

I have been very pleased with their results last year. I invested in a company so I'm very satisfied with where I'm at today. If you ever need help financially or to invest in a company I think E-Trade is a good place. I haven't lost much money since I've been with E-Trade. I invested thousands of dollars in the trade market and this the first trademark that I have been with that I have been lost a sustainable amount so with this company I don't think that we can go wrong with it.

2 people found this review helpful
Rated with 5 stars
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Verified Reviewer
Original review: Nov. 30, 2020

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 other brokerage firms is their customer service. Every time I have had to speak to them, the representatives have been informative, helpful and quick. I would recommend E*Trade to everyone, especially beginners in trading.

4 people found this review helpful

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    Rated with 4 stars
    profile pic of the author
    Verified Reviewer
    Original review: Nov. 29, 2020

    Most of the website is easy to navigate and they make buying, selling, trading stocks pretty simple. I use it for both personal and stocks granted from my employer. The person stock is pretty straightforward, but sometimes I don't understand the stock, awards and forms from the stock given by my employer - I wish there were more resources and 'dumbed down' information for that piece. Overall, would recommend.

    3 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Nov. 27, 2020

    I do like e*Trade over the other two online brokers I have used. Ease of margin account setup is appealing. Linking to my external bank account is simple, user friendly, and was instant rather than the two day wait I experienced with another outfit. They have the usual amenities like free trades, and their online analysis tools work well for me. I would recommend eTrade for new users, and the tools allowed me to grow as an investor.

    2 people found this review helpful
    Rated with 4 stars
    Verified Reviewer
    Original review: Nov. 20, 2020

    Can be found this website on searching google "online trading in US" as related search. Not much easier but can be found related searches on google. The First look the of their website is good for me because it showed simple 4 steps to start invest so it is easy to start. But I need some more info before start so I browse whole page and I found the required info so, it is good. Signup process is not too much difficult, but it took time, it could be more easy. And at Last the overall features are good options. And Anyone can start trading online after funding. Some offers time to time might be more helpful to increase their users.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 24, 2021

    I have had to work with E-Trade for two death claims. One in 2018 and one in 2021. eTrade transfers out the bulk of the assets and then posts the dividend/interest payment to the decedent account. Multiple calls in 2018 and confirmation that the dividend/interest would be transferred over and it is still in the decedent account at eTrade and I'm now receiving escheat notices from eTrade. I had given up when it seemed the funds would never be disbursed to me after multiple assurances it would transferred and the account closed out.

    Fast forward to 2021. Again the bulk of the funds were transferred and then funds posted to the decedent account. I called last week and talked with a representative in the decedent area and they assured me the funds would be transferred to my eTrade account that was set up specifically for this process. (No explanation why the dividends did not automatically transfer over). Representative assured me the funds would be transferred and it would take 2 - 3 days. One week later I'm on hold because the funds were not transferred. This is a familiar feeling. Is this just eTrade's way of making more money or something? I don't get it.

    Since this seems to be such a difficult task maybe you should look at your process/systems and post the dividends/interest BEFORE transferring the funds. Would never use eTrade personally based on my experience and eTrade's inability to complete requests. I guess I should be grateful the bulk of the money was transferred at least. :-(

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    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 21, 2021

    It has been over a year trying to close an estate of my husband. The account is an joint account, but that does not matter to them. You do not have rights to account even though it is joint. Every paper I fill out has more to follow. Finally they okay it telling me my transfer will take place 5 to 7 days. It has been over 18 days. I sent a letter of demand, but no response. I have to get the lawyer involved. Widows should not have to go through this. I will be closing my account moving to different broker.

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 17, 2021

    E*Trade set up traps for unsuspecting traders. There is a common rule that if you buy one stock twice and sell shares of these two orders once within a single day, it is one day trade, because you close a position once, although open a position twice. I opened position of same security 3 times and sold by one order all shares during the day. E*trade deemed it 3 day trades and said, that, unlike other brokers, they count trades by BUYS not by SELLS. It was my first trading day with E*Trade. Maybe they can invent and use their own rules on day trade if SEC allows this, but at least they have to put a note about it somewhere. I spent and hour with their Elite (mind it!) and Certified (!) trade specialist Jason **, who said he would find this rule advertised on their site. He could not. They counted my one trade as three and won't change it! Grossly dissatisfied with E*Trade and their customer service.

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    Rated with 1 star
    Verified Reviewer
    Original review: July 29, 2021

    They take your money and then ask you to verify your account to be able to access it so you have no choice to submit to all their commands if you ever want to be able to access YOUR money again. Webull, Robinhood, Chime they all do this before so that they have not robbed you. I am a prisoner of paperwork. They had no problem holding my 10000 hostage. This should be illegal.

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 9, 2021

    E-trade provides extremely poor customer service. Must sit on hold for a very long time and they don't return phone calls. You click the "chat" button on their website and for many weeks you get an "out of service" page. Transferred my funds to a competing firm; they answer the phone promptly and you speak to someone that is fluent in America's mother-tongue. Adios etrade.

    2 people found this review helpful
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    E*TRADE Company Information

    Company Name:
    E*TRADE
    Year Founded:
    1982
    Address:
    1271 Avenue of the Americas, 14th Floor
    City:
    New York
    State/Province:
    NY
    Postal Code:
    10020-1302
    Country:
    United States
    Website:
    www.etrade.com