E*TRADE Review
4.7
E*TRADE is a well-established and respected online brokerage that offers a comprehensive suite of investment and trading services. With its robust platform, extensive research tools, competitive pricing, and dedication to customer satisfaction, E*trade stands as a top choice for investors seeking a reliable and feature-rich brokerage.
E*TRADE is a comprehensive online brokerage that provides a powerful trading platform, extensive research tools, diverse investment options, competitive pricing, retirement planning tools, strong customer support, and regulatory compliance. Whether you are a beginner or a seasoned investor, E*TRADE offers the tools and support necessary for successful investing and trading.
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No inactivity fee
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Low trading fees
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High investor protection
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Listed on NASDAQ
Overview
Year founded
Minimum deposit
Withdrawal fee amount
Available
Offerings
Platforms available
1982
0$
0$
Stock, ETF, Crypto, Fund, Bond, Options, Futures
*Desktop, Mobile, Web
* Desktop platform not available to new users
Account Opening
Account opening with E*TRADE is a hassle-free and completely digital process. The minimum deposit required by E*TRADE is $0, although it can be higher if you wish to engage in margin trading or utilize their asset selection services. It's important to note that E*TRADE is exclusively available for clients based in the United States. E*TRADE offers a variety of account types to cater to different needs. These include the Individual account (owned by a single individual), Joint account (owned by two or more individuals), Business account (owned by a legal entity), Retirement account (individual retirement accounts), Pension account (for self-employed individuals and small businesses), Education Savings Account (for saving from kindergarten to graduate school), Custodial accounts (special accounts for custodial purposes), and E*TRADE Personalized Investments (accounts for trading portfolios managed by E*TRADE). The minimum deposit requirements vary based on the account type. Basic accounts have no minimum deposit, Margin accounts require a minimum deposit of $2,000, and E*TRADE Personalized Investments accounts range from $500 to $2,500. Opening an E*TRADE account is straightforward and can be completed entirely online. The online application typically takes approximately 20 minutes to fill out. However, please note that the account verification process might take longer compared to other brokers. To open an E*TRADE account, follow four simple steps. Firstly, choose the desired account type. Secondly, provide personal information such as your Social Security Number, residency, and employment status. Thirdly, select your investment profile and margin trading preferences, and create your E*TRADE account ID. Lastly, set up your funding preferences to complete the account opening process.
Safety
E*TRADE Financial Corporation is listed on the NASDAQ, which provides an added level of security. The company regularly and transparently releases financial statements, demonstrating its commitment to transparency. Furthermore, E*TRADE is subject to the oversight of top-tier US regulators, offering you a high level of investor protection. E*TRADE is regulated by two prominent regulatory bodies: the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). However, it's important to note that E*TRADE does not offer negative balance protection, so it's essential to manage your account and trading activities accordingly. Established in 1982, E*TRADE is headquartered in USA.
Risk Disclaimer
Trading securities carries a significant level of risk. When it comes to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is substantial exposure to various risks. These risks include, but are not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility. They can have a significant impact on the price or liquidity of a currency or related instrument. It is important to note that the methods, techniques, or indicators provided in these products may not necessarily yield profits, and there is a possibility of incurring losses. For more information on the risks associated with forex trading, please refer to further resources.
Summary
E*TRADE stands out by providing commission-free trading for stocks and ETFs, solidifying its position as one of the largest stockbrokers in the United States. The company operates under the supervision of top-tier regulatory authorities, ensuring compliance and maintaining high standards.
Notably, E*TRADE Financial Corporation is listed on the NASDAQ, further reinforcing its credibility and stability.
However, it's worth mentioning that E*TRADE does not support credit/debit cards or electronic wallets for money transfers. Additionally, the company's product portfolio is focused exclusively on the US markets, catering solely to clients within the United States.