E*Trade is a trustable online broker, operating from the US. It has a long operating history and has good financial audits as well. In this E*Trade review we’re going to focus on its workings and operations. Along with its pros and cons.

Table of Contents

What is E*Trade?

Interactive Broker is an online brokerage providing a wide range of investment opportunities. It is one of the biggest discount brokers. The broker provides access to 30 branches across the US. It allows you to invest in stocks, options, mutual funds, ETFs, futures, bonds, and currencies.

The firm offers low cost investment, market research, multiple trading platforms, and competitive customer services. It was founded in 1982 and issued its first IPO in 1996. It has trade relations with top financial firms as well.

Account Opening :

Account opening is fully digital but quite complex. They take long time to verify account. The minimum deposition for account opening is low.

What is minimum deposit at E*Trade?

The minimum deposit at E*Trade is $0. However, minimum deposit also depends on account types.

Basic account : $0
Margin Account : $2,000
E*TRADE Personalized Investments : $500-$150,000

E*Trade account types

Account type	Short Description
Individual account	The account is owned by a single individual
Joint account	Two or more account owners
Business account	The account is owned by a legal entity
Retirement account (Traditional IRA, Roth IRA, etc.)	Individual retirement accounts
Pension account	Accounts for self-employed individuals and small businesses
Education Savings Account	Education Savings Account
Custodial accounts	Special accounts for custodial purposes

Fees:

E*Trade charges low fees for stocks, bonds, futures, options and more. It has low non trading fees. While those mutual funds which are not free are costly.

Assets	Fee Terms
US stock	Free stock and ETF trading
Mutual fund	$19.99 per trade; ca. 4,500 free mutual funds
Inactivity fee	No Inactivity fee

E*Trade deposit and withdrawal:

E*Trade offer 1 base currency as USD. It only allows deposit through bank transfer. No other means of deposition is supported by them. It allows deposit only through bank transfer, no debit/credit card deposition or withdrawal is supported.

Withdrawal is also same as deposit. No withdrawal fee is charged for ACH, while it costs $25 for wire transfer. US residents can withdraw via ACH or Check as well.

Trading Platform:

E*Trade offers two types of trading platform: Mobile application and web trading. It doesn’t provide desktop trading platform. Both the available platform is easy to use and have good user interface. Its mobile application is one of the best in the market.

E*Trade provides two kind of platform :

E*Trade
Power E*Trade

Both of the platforms have almost similar functionality. E*Trade has a desktop trading platform known as E*Trade PRO. They don’t usually recommend this platform to new users. It is quite complex to navigate and require master skills.

Products Offered:

Stock	5
ETF	2300
Fund	520
Bond	88,000
Option	5
Future	3

Customer Service:

You can contact E*Trade via:

Phone
Email
Live Chat

E*Trade support is available 24/7.

Pros	Cons
Low trading fees (free stock and ETF trading)	Only US markets, no forex
Great research tools	High fees for non-free mutual funds
Some mutual funds and bonds are free	Slow account verification
Good production quality	Credit/Debit card not available

The Verdict:

E*Trade is one of the biggest US stock broker. Providing quality education and research tools. It charges no inactivity fee and have $0 deposition fee. Its platform is easy to use and are beginner friendly.

It has some drawbacks too, that it charges high fee for wire transfer. Along with that the desktop platform is not easy to use. It does not provide credit/debit card assistance.

As it charges no commission on majority of assets, and do not have any inactivity fee. Feel free to try E*Trade.

E*Trade Review

8.6

Account Opening

9.0/10

Fees

8.0/10

Products Offered