E*Trade Review

ETrade is one of the most well-known online stock brokers providing a balance of competitive pricing, rich research tools for online trading, and versatile account options. In our opinion ETrade doesn’t come up number one in any single area, but does very well across-the-board for somebody who has average investing needs and will do most of their trading online.

ETrade Fees and Commissions

ETrade Minimums to Open Account

You must fund a new E*Trade account with a $500 deposit within 60 days of account opening. $2,000 is required for margin privileges. There is a $1,000 minimum balance to receive free ATM card and check writing.

How To Open an ETrade Account

Opening a new Etrade account takes about 10-15 minutes. After completing the online forms, you can choose to fund your account via a number of methods: bank wire, automatic deposit, check, or transfer from another investing account. Direct deposits via ACH are typically available in your account to trade in three business days. An Etrade representative may also call you to follow up with any questions.

ETrade Review

Etrade—a large, well-known, and publically-traded company—is well-suited to either very active traders who meet the required 150 traders per quarter for lower commissions or investors who want to a buy a few stocks or ETFs and hold them for a long time.

Etrade stands out for offering banking products like checking and savings accounts, CDs, and more. With free check writing and debit cards, Etrade is a great choice for investors who want to be able to transfer money between investing and everyday accounts quickly—or those who want a one-stop financial shop. That said, Etrades banking interest rates aren’t always as good as you can find elsewhere in online savings accounts.

Etrade’s research and trading tools are better-than-average and include 18 proprietary trading tools.

Finally, Etrade wins points for not having inactivity or account fees, and their IRAs are also free.

###