ETrade ReviewReviewCompareAdviceFAQ's

ETrade Review

Advertiser Disclosure
4th
  • Monthly Fee$0.00
  • Cost per Trade$0.00
  • Cash BonusNone
  • Free TradesNone
  • Pros
  • Great website and app
  • High BBB rating
  • Great educational tools
  • Easy to use resources
  • Good customer service
  • Cons
  • High prices
  • Minimum amount of trades to access best platforms

ETrade Online Stock Trading

Fueled by its aggressive marketing campaigns, particularly on television, E-Trade has established itself as one of the top 5 online brokers in the United States, but there's more to E-Trade than appealing advertisements. With millions of customers to its name, E-Trade's status is largely due to its user-friendly site and mobile app which allow for a good experience with this service's industry-leading web interfaces.

E-Trade was among the first brokerages to establish an online presence and has been at the cutting edge of the industry ever since. The company's intuitive, accessible website and mobile app make it an ideal choice for new investors and frequent traders alike. E-Trade offers significant trading tools and an advanced trading platform for frequent traders.

While entering the vast world of financial investment can appear daunting, E-Trade's user friendly interface eases users into some of the intimidating factors. Setting up an account takes about 10 minutes and you can explore the site at your leisure. E-Trade offers an assortment of trading opportunities such as stocks, bonds, mutual funds, ETFs, options and futures. E-Trade's customer service is top-notch as well. While there are only local branches in 17 states, E-Trade offers 24/7 support over the telephone as well as live chats and e-mail. In addition, there are a number of tutorials, webinars and classes, such as ETF Best Practices and Stocks 101, for anyone seeking to learn more about investing and trading.

However, you won't be able to start trading until there are funds in your account. Most accounts can be opened with a relatively low deposit as well. A $500 deposit is required for a cash non-IRA account, $0 for an IRA cash account and $2,000 to begin trading using a margin account.

It must be noted that margin accounts require that you deposit a minimum of $500 in cash or securities within 60 days of opening your account. If you fail to do so, it's possible that your account will be closed. Most accounts do not require a minimum deposit, though.

Helpful Tools

E-Trade's greatest strength may be its assortment of tools and research options. The company offers tools and charts which allow you to track your performance. And there are tools which allow you to screen stocks before deciding if they fit your needs prior to purchasing them. E-Trade also helps investors develop personalized strategies by analyzing your experience, goals, and risk tolerance. These tools are invaluable to a novice or experienced traders.

Additionally, E-Trade provides analytics tools. The portfolio analyzer tool automatically scans for portfolio diversification options by sector, style, stock type and world region. Moreover, the risk analyzer evaluates your risk and rewards and charts your performance compared to market indexes. The risk analyzer runs a variety of hypothetical scenarios and evaluates the worst-case scenarios for each.

Trading Platforms

E-Trade Pro is the company's primary trading platform and is an ideal choice for experienced, savvy traders who do their own research and make their own trades. E-Trade Pro provides investors with real-time quotes and instant execution of trades. In addition, E-Trade Pro also offers flexibility in setting up charts, graphs, newsfeeds, research inputs, account monitoring, watch lists, and stock and option screens. E-Trade Pro also includes a live link to CNBC as well as archived CNBC videos on demand.

The company's second platform is E-Trade 360. E-Trade 360 is a dashboard for retail investors who want to view summaries of their accounts, portfolios, create watch lists and make trades from the same page. The best part about E-Trade 360 is that it is easy to use and customizable. Everything you need is easy to find but if you want to organize things differently, it's done by just dragging and dropping to a new area. And if you don't like something at all, you can delete it. Like E-Trade Pro, you are also stream CNBC live from every page.

These platforms come with hefty price tags, though. To receive free service, investors must make a minimum of 30 trades per quarter or $99.95 for a monthly subscription fee.

Mobile Applications

E-Trade's mobile app is another perk. Available on Android phones, iPhones and the iPad, the app enables you to monitor your stocks, trade options, watch lists and track your positions, and those are just some of the basic options.

The app also includes a check depositing feature which allows you to take a picture of a check and have it deposited directly into your investment accounts. The app also includes a barcode scanner. This nifty feature allows you to scan barcodes on products and receive details on the company associated with the product.

The E-Trade app's primary flaw is that it doesn't offer any virtual trading. Even consumers with active accounts are unable to test strategies prior to making real moves using the app. Of course, there are such tools available when using the website, but this would be an added bonus.

E-Trade also offers a Google Chrome plug-in which scans web pages for stock symbols. When it comes across one, the extension displays their current price and other relevant data in real-time. In addition, users can search for symbols themselves and place trades without navigating away from the page.

While E-Trade's service is top quality, its fees and prices are a bit high as was noted earlier. The prices may lead many, especially those who are not frequent traders, to look elsewhere when deciding on a broker. But if you are, or hope to be, a high-volume trader, E-Trade offers the tools you need to make the most informed decisions. Frequent traders will likely see appeal in E-Trade's tiered pricing options as well.

Verdict - Good

The quality of E-Trade's web interfaces are hard to beat and easy to use, and their tools provide an investor with the information he or she needs to trade intelligently. The price of their service is a little less competitive than some of their rivals but if you value a smooth experience, it may be worth it.

Last Updated:

ETrade Consumer Reviews

Average Customer Rating

3 out of 10 rating 3 2 User Reviews

User Rating Distribution

Ratings: 10 - 9 0
Ratings: 8 - 7 0
Ratings: 6 - 5 0
Ratings: 4 - 3 2
Ratings: 2 - 1 0
3 out of 10 rating 3 None Charge a quartly fee

For some reason Etrade have decided to start charging a fee every few months...I had not been made aware it was just removed from my account!

Show More
4 out of 10 rating 4 None Lock account for no reason

I am looking to move my money elsewhere since they locked my account and would not let me back in. I called the support team and gave them all of my personal details attached to my account but they still would not unlock it. They lost me money and I will certainly not be doing business with them again.

Show More

16 Great Money Saving Tips!

Cut expenses by $500+ a month. Download our FREE eBook today.

Download Now

Join our newsletter to receive the latest money saving advice, reviews, and offers!

YesI want to learn how to be a smart consumer!NoI'm not concerned about wasting money

100% privacy. We will never spam you.

Where should we mail you our
money saving advice, reviews & offers?

100% privacy. We will never spam you.

Adding your email to our mailing list.

Please wait just a moment

Your email has been added!

Thank you for signing up.

Close

Advertiser Disclosure

In order for MoneySavingPro to remain a consumer free service, many of the companies covered in our industry reviews compensate MoneySavingPro for new sign ups.

However, the results of our comparison tools, the rankings of the providers and the information presented is not affected by compensation. Indeed, many of these companies approach us for an advertising partnership after we have already written a published their reviews.

While we try to research and review as many providers as possible in the 100+ industries we cover, we have not reviewed every company available.

Our rating system is independent of compensation and reflects our true understanding of the industry and the company based on a variety of factors. The companies that receive the highest rating will always be the providers that we believe offer the best value to the consumer.

Advertiser Disclosure

In order for MoneySavingPro to remain a consumer free service, many of the companies covered in our industry reviews compensate MoneySavingPro for new sign ups.

However, the results of our comparison tools, the rankings of the providers and the information presented is not affected by compensation. Indeed, many of these companies approach us for an advertising partnership after we have already written a published their reviews.

While we try to research and review as many providers as possible in the 100+ industries we cover, we have not reviewed every company available.

Our rating system is independent of compensation and reflects our true understanding of the industry and the company based on a variety of factors. The companies that receive the highest rating will always be the providers that we believe offer the best value to the consumer.