E-Trade review 2019

Is E-Trade a good broker?

E-Trade is suitable for beginner and advanced traders. However, expect to pay steep trading commissions if you occasionally trade. Also, you need to deposit at least $500 to start trading.

Fee

Account minimum

Promotion

$6.95
$500
500 commission-free trades once you deposit $10,000.

Occasional traders may find the E-Trade commissions to be quite steep. If you make more than 30 trades per quarter, your next trades will cost $4.95. However, depositing $10,000 or more may get you 500 commission-free trades. This can be useful as you can save up $3,475 on commissions.

Beginner traders will benefit from a vast repository of educational and research resources. You also get live market commentary, stock screeners and more. Active traders will benefit from commission-free trading on more than 500 ETFs.

What kind of trading platforms does E-Trade offer?

You'll find three trading platforms: E-Trade Web, Power E-Trade and E-Trade Pro. All are available to all customers without any fees. Trade Pro is the desktop platform, which offers the Strategy Scanner and a powerful tool for finding trade options.

For those who trade multiple times a day, the Power E-Trade platform would be best suited.

To keep you up to date even on the go, E-Trade offers two mobile apps. You can manage your account, trade, get news and watch Bloomberg TV. You can use the app on your Apple Watch as well.

Standout features

  • Commission-free ETFs. You can trade more than 250 ETFs without paying any commission and more than 4,400 mutual funds without transaction fees.
  • Promotion. Get 500 commission-free trades when you deposit $10,000 or more. That's up to $3,475 saved on commissions.
  • Education and research. Beginner investors can use vast educational libraries, watch webinars and learn options trading, technical analysis and more.
  • Vast investment choices. Trading choices include stocks, bonds, mutual funds, ETF, options and futures.

Watch out

  • Fees. Trading stocks will set you back for $6.95 until you reach 30 trades per quarter. After that, the trading fee drops to $4.95. Options have the same pricing, plus $0.75 per contract.

What can I trade with E-Trade?

  • Stocks
  • Options
  • ETFs
  • Mutual funds
  • Bonds
  • Futures

How do I signup with Charles Schwab?

  1. Go to E-Trade website.
  2. Click Open an account.
  3. Fill out the application form.
  4. Fund your account.

Bottom line

E-Trade can be a great option if you deposit $10,000 or more. That way, you'll save money on commissions for the first 500 trades. You can also trade more than 250 commission-free ETFs and more than 4,400 mutual funds without transaction fees.