E*Trade Review – Rated Number 1 Online Broker
By far the most active online stock brokerage when it comes television commercials, E*Trade has taken up the slot has the most popular online stock brokerage. At one time opening up 10,000 accounts a day.
What makes E*Trade vastly different than most other online stock brokerages is that they are almost a full running bank. Besides managing your market trading, you can also control various retirement and banking needs all from E*Trade, which may appeal to those looking for an all-in-on type of brokerage (Also consider TD Ameritrade).
Too many awards? For three straight years, SmartMoney has named E*Trade the number 1 online stock broker. They also received 5 stars in customer service, tools, research, and banking services; however, all these accolades do not come cheap, especially when we are talking about the commissions.
While E*Trade is a great brokerage for new and long-term traders, the commissions are vastly high compared to its peers.
Trade from your computer or phone. While many traders might complain about the high commissions, many of these same traders also rave about E*Trade’s tools and platforms. Although they have the typical PC-based and streaming platforms, E*Trade boasts one of the best mobile trading applications around.
Stock Brokerage Details
Commissions: Stocks $12.99 per trade; Options $12.99 plus $0.75 per contract. Various requirements can knock your commissions all the way down to $6.99.
Account Minimums: $1000
Fees: Execute 1 trade per quarter or maintain a balance of plus $10,000, to avoid quarterly maintenance fee of $40. There are also tons of other criteria that you can meet, to avoid the fees.
Overall, E*Trade is best for new and long-term traders looking to take a more prudent approach to investing and managing their money. Depending on your specific numbers, commissions may be a turn off to more active and advanced traders.
How would you rate this article?
(No Ratings Yet)
Loading ...
-
Highest Rated Reviews
-
Most Viewed Posts
