ETrade Broker Review 2024: Pros, Cons and Pricing (2024)

ETrade Review Introduction

While researching for this eTrade Review and seeing the many positive comments about E-Trade customer service, regardless of the “perceived” higher fees and commissions, I was reminded of that social media criticism (mostly aimed at Facebook) that if you are not paying for something, then you are not a customer… you are likely the product.

Is Etrade any good as a broker? Even though they are an old-school broker, E-Trade still has much to offer. Their trading platform is easy to use, has intuitive and simple investing tools, and offers great customer service.

With its Super Bowl ads, E*Trade became one of the most recognizable names when it comes to investing online, particularly the ones that used to feature the famously cute baby (with a tinge of creepiness) talking with a male baritone voice.

Remember him? If you need to jog your memory or you’re just in need of a little bit of comic relief, YouTubeis your friend.

Another reason why E*Trade is a household name in the online investment industry is because it was an early player. In 1982, a two-person startup launched an electronic system for stockbrokers called TradePlus.

According to one of those two men, Bill Porter, who was 54 at the time (see, it’s never too late to start something new and exciting), started the project with his partner, Bernard A. Newcomb, to enable an individual with a personal computer to trade stocks from home.

In the beginning, this company was started with $15,000. 1991, TradePlus became E*Trade, a name now synonymous with online trading. As of today, E*Trade Financial (E*Trade stock symbol is ETFC) is a $7 billion online trading giant for do-it-yourself investors. You are dealing with a trustworthy broker. E*Trade has stood the test of time, but is this the broker for you? Let’s take a look at this eTrade review. Check out a list of the top trading companies.

As a member of Bullish Bears, you want to take control of your economic freedom by learning how to trade with the right tools. An onlinestock trading service is only as good as the platforms they offer. At least as far as active traders are concerned.

If you consider E*Trade your broker, you’ll be happy to know they have intuitive trading portals. If you’re a beginner to stocktrading, the E*Trade platform can be as easy to learn asTD Ameritrade’s TOSand probably more accessible thanInteractive Brokers’ TWS.

Also, E*Trade Web, the browser-based platform at etrade.com, is ideal for less active traders. With streaming market data, real-time quotes, and market analysis, the web platform can track your accounts, create watch lists, and execute your trades. Moreover, passive investors in mutual funds and IRA accounts can check their investments as often as needed with this free solution.

For the active investor type that likes to stay on top of market movements, the OptionsHouse by E*Trade might be better suited. Don’t let the name fool you. The OptionsHouse trading platform is not only foroptions trading. Stocks,futures, index funds, and even Bitcoin are available to trade.

Nonetheless, the OptionsHouse trading platform has a better reputation among options traders. It’s likely one of the reasons why E*Trade bought the company a couple of years ago.

Yes, the Pro platform is free if you make 30 trades per quarter. For advanced trading, E*Trade offers the Pro Platform. The desktop software is jam-packed with tools. It includes a powerful strategy scanner. It even has backtesting capabilities. The Pro platform is genuinely designed for the pros and the high-volume traders. It offers a higher level of customization that professionals may require. However, it is not free unless you meet some minimum requirements.

The E*TRADE Pro trading platform is free to customers who execute at least 30 stock or options trades during a calendar quarter. Or maintain a brokerage account balance of at least $250,000. Yes, you read this right. Not $25,000, but $250,000!

1. $0 for stocks, options, and ETF’s
2. $ 0.65 options contracts or $0.50 with 30+ trades per quarter
3. $1.50 – futures contracts
4. $1 bonds (minimum $10, maximum $250)

ETrade offers a discounted fee to active traders who meet specific criteria. They charge no annual or inactivity fee. However, it’s important to note that ETrade has been criticized for high fees on specific services, particularly for mutual funds. The fees charged by E*TRADE may vary depending on the type of service or transaction. It’s always a good idea to check their website for the most up-to-date fee schedule, which ETrade provides on their official website here.

Without a doubt, E*TRADE has been making waves in the trading world. Just take a look at the reviews and ratings below!

• E*TRADE received the highest rating for Commissions & Fees, Investment Options, Platforms & Tools, Research, Mobile Trading, Education, and Ease of Use in the StockBrokers.com 2024 Annual Awards
• NerdWallet’s review of E*TRADE in 2024 rated it 4.4 out of 5 for offering $0 commissions and strong trading platforms.
• Forbes Advisor rated them 3.6 out of 5 for their trading and automated investing tools.
• StockBrokers.com’s review of E*TRADE praised its “addictive” tools and features, outstanding web-based POWER ETRADE platform for casual trading, and access to Morgan Stanley research.

Three things you may like about E*Trade:

1. Multiple financial services are provided
2. Lots of trading tools within all platforms
3. It is simpler to use than some of its competitors

Three things you may dislike about E*Trade:

1. $500 minimum deposit amount
2. Little costlier than many of its major competitors
3. No paper trades, no demo account, no virtual trading

E*TRADE offers fractional shares, allowing traders to build a portfolio with previously unaffordable stocks. This feature enables investors to invest in high-priced stocks by purchasing fractions of shares.

2. Core Portfolios

E*TRADE offers a service called E*TRADE Core Portfolios, which allows investors to manage their portfolios by an automated advisory service. This service provides professionally managed portfolios based on the investor’s preferences and goals.

At $6.95, E*Trade’s commissions are on the pricier side. However, you can reduce these to $4.95 if you are an active trader. Despite these costs, E*Trade customers like its intuitive platforms and excellent customer service. If you need help with your trading activities, chances are that E-Trade support will respond promptly. Because of that support, I think you’ll be in good hands with E*Trade if you’re starting on the path to economic freedom. Who and what is E*Trade for?

By offering advanced and easy-to-use features, E-Trade offers decent options to experienced and new traders. E*Trade is a leader in the industry for short-term trading or longer-term investments.