E-Trade review quick take: An online brokerage account for frequent traders to buy and sell stocks with $0 commission fees.
What is E-Trade?
Etrade is an online brokerage service that offers a comprehensive platform for trading stocks, options, mutual funds, ETFs, futures, and bonds. It provides a variety of tools and resources designed to help beginners and experienced investors manage their portfolios and execute trades. The platform has no account minimums and zero commissions for trades.
The self-directed trading accounts available are:
- Individual
- Joint (for two owners)
- Custodial (for the benefit of a minor)
Securities products and investment advisory services are offered by Morgan Stanley Smith Barney LLC, a Registered Investment Adviser and Member SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash).
How E-Trade Works
Etrade’s online brokerage allows users to open accounts, deposit funds, and start trading a wide range of securities. The platform provides trading tools, market research, and analysis to assist in making investment decisions. It also features mobile and desktop applications. This is how it works:
- No account minimum to get started
- Choose how much and what to invest in
- Place your trade through the website or mobile app
Key Features
- $0 Commissions: No commission fees for online US-listed stock, ETF, mutual fund, and options trades.
- Trading Platforms: Access to Etrade Web and Power Etrade platforms for different trading needs.
- Investment Choices: A wide range of investment options, including stocks, mutual funds, ETFs, options, futures, and bonds.
- Research and Analysis: Comprehensive market research, analysis, and insights from Morgan Stanley at no cost.
- Educational Resources: Articles, videos, and tutorials to help users understand investing.
- Customer Support: Phone, email, and chat support 24/7.
- Physical Locations: 64 local and 2 national branches.
Pros and Cons
Pros
- Zero commission trades
- Multiple platforms cater to different levels of trading expertise
- Access to high-quality research and analysis
- Customer support options
Cons
- Website can be hard to navigate
- Higher fees for trades executed with the help of a broker
- Futures and options trading can have additional fees
- No fractional shares
Fees
- Trading fee: $0
Note that other fees may apply.
Who is it best for?
E*Trade is best for active and frequent traders who want access to a robust platform, research, and data.
E-Trade Review
E-Trade is a legitimate service offered by Morgan Stanley. It stands out as a top online brokerage platform due to its zero-commission trades, advanced trading tools, and extensive market research. Its affiliation with Morgan Stanley adds a layer of credibility and access to high-quality insights.
While there are fees for certain services, the overall value provided by Etrade makes it a strong choice for a wide range of investors.
In researching E-Trade reviews, we found that the online brokerage has a 4.6 out of 5-star rating in the App Store with over 168,000 reviews. However, it receives a poor rating of 1.2 out of 5 stars from about 400 reviews on Trustpilot, with most sharing issues with customer support.
E*Trade Review Conclusion: ETrade offers competitive pricing, useful trading tools, and a user-friendly platform. With no account minimum and commission-free trades, it’s ideal for active investors.
How to Start Using E-Trade
Minimum Requirements
- Must be at least 18 years old
- Verifiable personal information
- Social security number
Step-by-Step to Open an ETrade Brokerage Account
The time needed: 3 minutes.
- Getting started
- Download the app or visit the website.
- Select Self Directed Investing
- Submit your personal information, such as name, email, and password.
- Fund your account
- Add money to your new brokerage account.
- Choose your investments
- Start investing and build your portfolio.
E*Trade Alternatives
E-Trade alternatives for active investors, such as Webull, Robinhood, SoFi Active Investing, and Ally Self-directed Investing.
Find more investing apps in the marketplace.
by Tim
My experience with ETRADE has been good but I’m reading a lot of negative reviews. The only bad thing I can think of is that customer service support has taken a turn for the worse. I dont have to talk to them often so it doesn’t make me want to change brokerages.