E*TRADE Review – Understanding The E*TRADE Pros & Cons

E*TRADE is one of the most popular online brokers, whose company’s $0 commissions and strong trading platforms appeal to active traders, while beginner investors on the other hand benefit from a large library of educational resources.

This online broker offers value to both beginner investors and frequent traders with a library of educational resources, professional-level trading platforms, as well as tools to help assemble a risk-appropriate, balanced portfolio. This firm’s $0 commission for all stock, ETF, and options trades is what active traders appreciate the most.

E*TRADE Review - Understanding The E*TRADE Pros & Cons

E*TRADE is Best For:

E*TRADE is the following

  • Firstly, research and data
  • Secondly, beginner investors
  • Thirdly, retirement planning assistance
  • Free commissions
  • Also, frequent traders

E*TRADE Pros & Cons

Pros

Low Minimum Deposit

With E*TRADE, there is no minimum deposit. This means the platform is open to investors of all sizes and levels of investment experience, including small and new investors.

Accommodates Different Investor Levels

This broker accommodates different investor levels, and users can operate efficiently on the platform as a full-blown do-it-yourself investor. This they can do using financial consultant assistance, or having their entire portfolio professionally managed via Managed Accounts solutions.

Commission Free Trades

E*TRADE currently does not charge commissions on online stock, options, and ETF trades.

Best User Interface

This broker platform is the perfect investment platform for the investor who is self-directed and wants to manage his or her own portfolio without consulting customer service.

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Comprehensive Trading Platform

On the platform, you will find first-rate trading capabilities, research, and investment tools. With these, online trading is as easy as it ought to be.

Cons

Even though E*TRADE offers lower transaction fees for active trading, not many investors can make 150 or more trades per quarter, to enable them be in a position to get the benefit of those lower fees.

E*TRADE Mobile App

E*TRADE comes tops when it comes to its mobile device support. With the mobile app, you can trade anywhere at any time and the app currently supports these devices:

  • Firstly, kindle Fire
  • Secondly, windows Phone
  • Thirdly, apple iPhone/iPad/Apple Watch
  • Also, amazon Fire Phone
  • Android Phone and Tablet.

Furthermore, E*TRADE has capitalized on the new functionality available in the second iteration of the Apple Watch software, to give you market information at a moment’s notice, and to also offers you the ability to integrate E*TRADE Apple Watch app data directly into your watch face.

The mobile application offers all of the functionality of the website. The mobile app comes in handy if you are an active trader who needs access to your account on the go

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Commission-Free Trading

E*TRADE in October 2019, joined a growing list of online brokers who have eliminated commissions on stock, ETF, and options trades. However, note that there’s still a 65-cent contract fee for options.

E*TRADE Account Types for Investment

E*TRADE offers investments in stocks, bonds, as well as other fixed-income assets, over 8,000 mutual funds, and exchange-traded funds (ETFs), target-date funds, options, and futures.

IRAs

Apart from regular, taxable brokerage accounts, you can also have a traditional or Roth IRA or a rollover IRA (from an employer-sponsored plan). Additionally, you get a small business IRA, like SEP IRA or SIMPLE IRA, which is an individual 401(K),a Roth Individual 401(K), or a Profit Sharing Plan.

Custodial Account

A Custodial account can be opened for a minor, and a Coverdell Education Savings Account (ESA).

Investment Accounts for Businesses

Also on offer from E*TRADEs, is investment accounts for businesses. E*TRADE accommodates sole proprietorship, partnership, or corporation and you can even open an account for an investment club. E*TRADE makes use of its own clearing agency, which is E*TRADE Clearing LLC, in settling investment transactions.

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