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e*Trade

e*Trade
Overall Satisfaction Rating 3.82/5
  • 5 stars
    157
  • 4 stars
    241
  • 3 stars
    111
  • 2 stars
    42
  • 1 stars
    35
Based on 586 ratings submitted in the last year

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.

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.

PROS
  • Educational materials
  • Online platform and mobile app
  • Commission-free options
CONS
  • High broker fees
  • Limited local branches

Top e*Trade Reviews We Found

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Rated with 5 stars
Verified Reviewer

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. Plus they pay if I join its account.

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Rated with 5 stars
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Verified Reviewer

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… I would recommend E*TRADE to everyone, especially beginners in trading.

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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?
    How do I know I can trust these reviews about eTrade?
    • 3,148,596 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.

    For more information about reviews on ConsumerAffairs.com please visit our FAQ.

    Page 1 Reviews 0 - 10
    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
    profile pic of the author
    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
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      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: March 23, 2021

      I have had a very difficult experience dealing with my deceased mother's ETRADE account. I need to know how much money is in her account before I start the laborious process of getting my siblings in various states to get documents notarized, etc. Because she was just getting online statements, I don't know what the balance of her account is. I asked if they could send a paper statement and provided the documentation to show that I am the executor of her will and trust. The representative several times said that he would send a statement to the address on record, which he never did. No 1099, no statements. Strange.

      5 people found this review helpful
      Rated with 2 stars
      Verified Reviewer
      Original review: March 18, 2021

      It really baffles me that some brokers think they can always get away with taking your money. Traded with E*trade and they suddenly closed my account with a lot of money in it. Tried a couple of chargebacks, nothing worked until I found a good lawyer off globalreclaimai.co that handled my case and I got my investments back.

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      Rated with 1 star
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      Verified Reviewer
      Original review: March 7, 2021

      I was an e*Trade customer. If you ever have to talk to a live person you might as well pack a lunch. You can not talk to anyone unless you wait on hold for an hour plus. Their chat is an hour and a half wait minimum... They send you messages to call them, about your account - instead of sending the info via message they want you to call them and wait, wait, wait. It is 2021 and they don't even have the option to get a call back when it's your turn. If you get to someone and they can not help you, expect another hour or so wait...Over an hour right now on a Saturday night when the market is closed and they should have very little phone volume. The absolute most frustrating company I have ever dealt with... I really don't understand how they are even in business?????

      11 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: March 4, 2021

      I've been trying to get information for over a month and they refuse to give a straight answer on how to get your money back from them. I have opened up another account with a different trading company and can only hope I will get my money back. Do not trust this company!

      7 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Feb. 17, 2021

      I decided to make a small deposit here to have some fun trading stocks. Money was deposited, some stocks bought. About a week later I see my account in arrears for 10x what I deposited and that I had a cash call. I don't play options just simply buy and hold. I immediately called and waited an hour on hold and then another 30-40 minutes waiting on a supervisor. I was told they would look into and a note would be placed so that the stocks I owned wouldn't be liquidated. You guessed it, 2 days later my money's stocks and money were gone. I'm now on the phone for the 3rd time (on hold really) waiting to see what's next. I guess it is off to a lawyer. Mistakes happen. A true judgement on the company isn't on the mistake but how they handle it. These guys get 0 stars for that.

      6 people found this review helpful
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      e*Trade Company Information

      Company Name:
      eTrade
      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