ETrade (E*TRADE) Review 2021

ETrade (E*TRADE) Review 2021
Davis J.
Robertson A.
January 2021

6

Position
in rating

Trading terminals:

Power E*TRADE E*TRADE
Liberty
6

Position in rating

9.1/10
Overall rating

Trading terminals:

Power E*TRADE E*TRADE
Liberty

Summary of ETrade Trading Company

The Etrade broker is a subsidiary of Morgan Stanley, the financial conglomerate, which has been operating since 1982. Today, E*TRADE is the leading online platform for financial instruments trading on the world's major exchanges. It offers operations with stocks, options, futures, bonds, ETFs, as well as investments in mutual funds. The broker is a member of FINRA, SIPC, NFA, and the FDIC, and provides services according to its license with the SEC, the US Securities and Exchange Commission.

💰 Account currency: USD
🚀 Minimum deposit: From $1
⚖️ Leverage: Up to 1:1.5
💱 Spread: No
🔧 Instruments: Stocks, options, futures, bonds, investments in mutual investment and ETF funds
💹 Margin Call / Stop Out: Not indicated
Attention!

Rebates from the Traders Union is available only to traders who register on the Union's website and open an account with a broker using a referral link.

👍 Advantages of trading with ETrade:

  • Fully adaptable to e-commerce through its mobile applications.
  • No commissions when working with stock options on American exchanges.
  • Twenty-four/seven customer support via online chat.

👎 Disadvantages of ETrade:

  • The Forex market tools are not available for trading.
  • Training is provided in English only,
  • Leverage is limited and cannot exceed 50% of the trader's personal funds.
  • You cannot open a demo account to test the broker's conditions.
  • There is no support, the website is only in English.

Overall

E-Trade specializes in e-trading and is primarily focused on working with the American stock market.

Visit ETrade

Geographic Distribution of ETrade Traders

ETrade (E*TRADE) Latest Comments for 2021

8
1
8

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of ETrade published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

Companies need big bills. If you decide to trade here, then the depot should be decent. There is nothing to do with a smaller depot.

I have been working since July 2019. I have not noticed any major problems. Failures occur periodically, lost a little, but not critical. I like low commissions.

I registered on Etrade just a few days ago and so far, I can only share my first impressions of cooperation. Great respect to the support team for their help in resolving emerging issues. In particular, they helped me understand the Power E*TRADE terminal.
I liked the trading platform, the transaction execution is prompt, it is convenient to create charts where support and resistance lines are drawn in automatic mode. I hope that there will be no problems with the withdrawal.

Etrade hasn't disappointed me so far, although at first, I had to get used to this broker. It was difficult to switch over as I used to trade on MT4, and Etrade has proprietary trading platforms. Now I'm used to it and I understand that in terms of functionality and convenience they will give a handicap to the standard Metatrader software. I did not notice any problems in trading, there are a lot of goodies for analytics, which allow you to quickly navigate the stock market. However, the main thing is the ability to trade a huge number of US stocks, and often without commissions.

I’ve been working with Etrade for about six months, while everything is good. The trading terms in this company are really interesting, both for professionals and for novice traders. Think about zero commissions when working on the American stock market. Etrade is optimal for active trading, but I have not tried passive investing. Here, you can work with funds of different types and diversify risks. I will accumulate a little savings and will test this direction too.

In my humble opinion, Etrade has more strengths than weaknesses. I’ve been cooperating with this broker for the second year now and do not plan to look for an alternative option yet. Let me explain why. First, everything is okay with legal documents and the company has an impeccable reputation. Second, Etrade did not let me down either with the transaction execution or with the profit withdrawal. Bank transfers takes a long time, but the main thing is that you will get your money. Of course, there are also some shortcomings. Power E*Trade had several failures in its performance, so I experienced a few losses.

I think Etrade is worth paying attention to. Although this broker is for Americans, traders from other countries may find it interesting as well. Trading stocks with zero commission on US exchanges is a profitable offer.
Etrade's own terminals are high in quality, and I did not notice any slippage. There is a mobile version, but I didn't use it, so I can't rate it. Its analytics with stock market reports and technical analysis are cool. They help you not to lose.

2 3 >

Expert Review of ETrade

After analyzing all the main services of this broker, I concluded that E*TRADE is perfect for both active trading and medium-term investments in investment programs. However, the company is still focused on independent work within the stock market, because it was originally initiated as an online trading service. The mobile versions of both platforms offered by E*TRADE fully provide access to the entire range of services.

Training is highlighted in a separate website section. There are also information blocks, which may seem unusual to some users. News is divided into thematic subsections such as general overview, major shares dynamics, market statistics, and calendar. E*TRADE provides analysis of instruments within a particular field, but it is available only after registration. Also, a special press release section has been created to review the main trading events in the financial markets.

There are no commissions when trading stocks and options on American stock exchanges. That inspires clients to invest in this particular area of ​​trading. However, E*TRADE offers banking services and pension insurance, which additionally stimulates interest in the company. The registration process is intuitive and simple.

Antony Robertson

Traders Union
Financial Analyst

Analysis of the Main Features of this Online Stock Broker

9.1

Overall rating

8.8

/10

Execution of orders

9.4

/10

Investment instruments

9.2

/10

Withdrawal speed

9

/10

Customer Support work

8.7

/10

Variety of instruments

9.5

/10

Trading platform

Dynamics of the Popularity of ETrade
in 2020 among the Users of the Traders Union

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mär.
Apr.
Mai.
Jun.
Jul.
Aug.
Sep.
Okt.
Nov.
Dez.

Investment Programs, Available Markets, and Products of the Broker

The following instruments are available to investors: stocks, bonds, fixed income securities, options, futures, and ETF shares. There are two types of programs to choose from, such as the exchange and mutual funds.

To start working with shares, deposit $500 or more to the account. For exchange instruments, the minimum investment amount is $2,500. Brokerage commission is not charged in either case. Expenses are reduced to the fees of the funds themselves, which covers the account maintenance.

Mutual funds on E*TRADE

The cost of investment account maintenance depends on the type of fund chosen for capital allocation.

The portfolio is formed individually, following the investor's trading strategy.

Program features:

  • The portfolio is a basket of securities selected by the company's professional analysts. All instruments shall be traded only once during the day.

  • Prices change only once at the end of each business day.

  • There is an automatic reinvestment of dividends function.

  • The portfolio is managed by the fund's employees.

Clients of E*TRADE can be a trader or passive investor, or both simultaneously. The ability to work with different types of funds allows you to diversify your investments. Generally, the company offers four options for strategies such as aggressive, moderate, conservative, and so-called "profitable" (with a focus on getting dividends).

Important!

If you are a large investor and plan on investments over $10,000, contact us at [email protected] or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.

E*TRADE affiliate program:

The “Member gets member” program is the only option for partnership offers for private traders. Unfortunately, its conditions are not provided on the broker's website. All information about remuneration is available only after you open an account. The company offers a range of solutions to improve efficiency for corporate clients under their brand and expands the provision of financial services.

Rebate and Discount Programs of the Traders Union for ETrade

A brokerage account opened through the Traders Union makes it possible to get compensation based on a percentage of the spread on each transaction. Daily or monthly refunds (up to 100% of the trading commission) are carried out for all the transactions completed, regardless of their result. The E*TRADE rebate is available only to those traders who have registered with the Traders Union and opened an account with E*TRADE using our referral link.

Try it!  Try it!

Trading Conditions for ETrade Users

E-Trade terms are great for traders who prefer to work in the American stock and options market. There is no brokerage fee for trading this type of asset. But, you need to pay $25 for a partial withdrawal of capital from portfolios and $75 for a full transfer of funds. A commission is also levied on the client for the transfer of money between accounts. Trading is carried out through Etrade's proprietary terminals. Mobile versions are available. The broker delivers analytics with stock quotes and technical analysis.

$1

Minimum
deposit

1:1.5

Leverage

24/7

Support

Power E*TRADE E*TRADE
Liberty
💻 Trading platform: Power E*TRADE and E*TRADE (for trading), Liberty (for investment portfolio management)
📊 Accounts: E*TRADE (for Power E*TRADE and E*TRADE portfolio)
💰 Account currency: USD
💵 Replenishment/Withdrawal: Replenishments: depositary checks (mobile and postal), bank transfer to the banking details Withdrawals: transfer to a bank account in E*TRADE Bank or to another financial institution account
🚀 Minimum deposit: From $1
⚖️ Leverage: Up to 1:1.5
💼 PAMM-accounts: Yes
📈️ Min Order: Not indicated
💱 Spread: No
🔧 Instruments: Stocks, options, futures, bonds, investments in mutual investment and ETF funds
💹 Margin Call / Stop Out: Not indicated
🏛 Liquidity provider: Not indicated
📱 Mobile trading: Yes
➕ Affiliate program: Yes
📋 Orders execution: Not indicated
⭐ Trading features: No commission when trading stocks and options on the US stock exchanges
🎁 Contests and bonuses: Welcome bonus up to $2,500.

ETrade Commissions & Fees

Information

The broker's terms analysis for the direct and hidden commissions proved the following: the trading fee amount depends on the assets traded. There are also extra fees for certain types of contracts (index-type options). When working with securities of foreign exchange companies, a tax on financial transactions is collected. It is 0.12-0.3% of the total value of the transaction depending on the specific country. Moreover, the custody of depositary receipts for American shares involves a fee of $0.005 to $0.05 per unit. All information about fees is freely available on the E*TRADE website.

Account type Spread (minimum value) Withdrawal commission
E*TRADE from $1 There is a bank commission

There are no swaps for transferring positions, but there are fees for keeping depositary receipts of American shares. We also compared the size of spreads of various brokers who provide access to the foreign exchange market. E*TRADE doesn’t trade in the Forex market and is added to the above table for general information.

Broker Average commission Level
ETrade $1 Low
FxPro $13.2 High
ETrade
$1
FxPro
$13.2
Conclusion

E*TRADE allows you to trade stocks and options commission-free. For the rest of the instruments, the fee doesn’t exceed $1.5 per contract, which is a rather low indicator in comparison with other stock brokers.

Detailed Review of ETrade (E*TRADE)

The E*TRADE broker was created as a specialized e-platform for traders and investors. For now, the company focuses on providing favorable terms for trading on the American stock and options markets. E*TRADE also allows you to invest in two types of funds with the possibility to choose one strategy from among four. Professional investors can independently form portfolios from the set of instruments offered. The company's website is very convenient, and the news in a general block with educational information is E*TRADE’s idea.

A few figures about E*TRADE that could be interesting for traders choosing a broker:

  • 30 departments in the USA.

  • 4,100 employees on the company's staff.

  • Over 39 years of experience in the field of financial services provision.

E*TRADE is a regulated stockbroker

All E*TRADE services were designed to create terms for convenient and efficient e-commerce. The adaptation to the mobile version happened immediately after the appearance of phones with sufficient functionality. The broker offers favorable trading conditions for traders and investors at any experience level and with available capital. The commission-free condition varies from $0 to $1.5 depending on the instrument type. There are no minimum deposit requirements when opening an account.

Trading is carried out on two of the company's proprietary platforms: Power E*Trade and E*Trade. Their main differences are the number of trading instruments available in their collective categories. The Power E*TRADE terminal offers the function of automatically filling the charts with the necessary instruments. Therefore, it is more suitable for professional work. The E*TRADE functionality allows users to get up-to-date educational materials directly during work.

Useful E*TRADE services:

  • Liberty: A simplified portfolio management platform with analytics, intuitive asset price tracking tools, and custom reports.

  • Market news. An overview of the current trends and market drivers affecting high-trading securities, with comments by E*TRADE's analysts.

  • Screeners. Tools for the selection of assets according to user-specified parameters.Research. Fundamental and technical analysis for stocks, bonds, mutual funds, and ETFs.

Advantages:

1

No brokerage fees for US stocks and options (listed on major exchanges).

2

Flexible system for choosing investment programs.

3

Twenty-four/seven support.

4

A full library with useful materials.

5

Full adaptation of all services for mobile applications. 

6

Intuitive website.

Active traders can apply any trading strategy. The only significant disadvantage of the broker is the inability to trade on the Forex market.

How to Start Making Profits — Guide for Traders

The broker offers an E*TRADE account, which is available on both terminals of the company.

Account types:

Account Type
Description
E*TRADE offers a single account for trading in the stock market
It does not charge brokerage fees for US stocks and bonds. Account-holders have access to training materials and online support.

Unfortunately, there is no demo account.

E*TRADE is competitive because it offers clients advanced technologies in online trading.

Bonuses Paid by the Broker

The welcome bonus is up to $3,500

The offer is valid for novice E*TRADE clients who have opened a brokerage account and made a deposit of $5,000 or more within 60 days of registration.

E*TRADE Bonuses - Welcome Bonus
E*TRADE Bonuses - Welcome Bonus

Bonus from Traders Union

Would you like to get a bonus from the Traders Union? Then register on our website for free and open an account with your selected broker using the special link found in its profile at Traders Union. Make a deposit and start trading. The Traders Union bonus is available for E*TRADE clients only if an account is opened according to the instructions described above. Do you already have an open brokerage account? Then read here the instructions on how to re-register an active account with Traders Union.

Investment Education Online

Information

The broker offers a library on the site to introduce the basics of stock trading to novice traders. It provides reviews, analytics, news, expert opinions, and useful tips to improve your trading efficiency.

Information available in the Education Section
Information not available at the ETrade site
Market reviews and analytics
Forex Terminology
Economic calendar
Descriptions of trading strategies for the Forex and stock markets
News
Fundamentals of risk management
Expert advice and expert opinion
Trading psychology

The broker doesn’t have a demo account, but the knowledge gained academically can only be applied in practice using real assets.

Security (Protection for Investors)

Information

E*TRADE Financial Holdings, LLC, stock activities are regulated by the SEC, the US Securities and Exchange Commission.

The E*TRADE broker is a member of self-regulatory organizations FINRA (Financial Industry Regulatory Authority) and SIPC (Securities Investor Protection Corporation). The company also operates following the requirements of the NFA (National Futures Association) and the FDIC (Federal Deposit Insurance Corporation).

👍 Advantages

  • Carrying out activities under the laws of the United States
  • Possibility of filing a complaint with the regulator

👎 Disadvantages

  • The regulator does not consider claims of non-residents of the United States
  • Complicated account opening procedure and long verification process

Withdrawal Options and Fees

  • Funds withdrawal shall be carried out in the following ways: by transferring money to the E*TRADE bank account or an account of another financial institution.

  • Withdrawal and replenishment currencies are carried out only in USD. The company does not convert money into other national currencies.

  • You have to go through verification to deposit and/or withdraw funds.

Customer Support Service

Information

The support service is available to the company's clients every day, 24/7.

👍 Advantages

  • Round the clock online chats
  • Support is available both from the website and from your personal account

👎 Disadvantages

  • No call back form

Support is available both from the website

and from your personal account

The client can contact technical support:

  • via telephone.

  • via online chat;

  • by sending a request by email (registered users only);

  • by sending a letter by regular mail.

Access to online customer support specialists is possible both on the company's website and from your personal account.

Contacts

Registration address Harbourside 2 200 Hudson Street, Suite 501 Jersey City, NJ 0731, USA
Official site

To start working in financial markets with this broker:

1

Open an account. Next, go to the registration form, click the "Open an account" icon, and select "Broker account" from among the available list.

E*TRADE Review - Account opening
E*TRADE Review - Account opening
E*TRADE Review - Account opening
2

Fill out the registration form. Indicate your passport information, country of residence, and contacts. Then you can install one of the offered broker platforms on your PC or mobile device. After that, log in to your account and go through the verification.

3

In the personal account of E*TRADE, you can:

1. Build charts of different types (candlesticks, bars, etc.) of technical analysis with tips:
E*TRADE Review - Trading platform
E*TRADE Review - Trading platform
2. View analytics and news in real-time:
E*TRADE Review - Personal account
E*TRADE Review - Personal account
1. Build charts of different types (candlesticks, bars, etc.) of technical analysis with tips:
E*TRADE Review - Trading platform
E*TRADE Review - Trading platform
2. View analytics and news in real-time:
E*TRADE Review - Personal account
E*TRADE Review - Personal account

You also get access to:

  • Training materials.

  • Investment prospectuses and analytical tools.

  • Historical charts of the dynamics of securities.

  • Risk calculation functions.

  • A button for communicating with the broker's representatives.

The Oldest Reviews of this Online Broker for Stock Trading

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of ETrade published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

I wanted to cooperate with the Etrade. I tried to trade stock options here but I didn’t like it, although this broker is reliable. Everything is OK with regulation and legal documents. The support personnel are smart and they try to quickly solve all the issues on a 24/7 basis.

Etrade is mostly focused on working with the American stock market.
Traders who work with stocks, options, and ETFs on US exchanges don’t pay commissions. There are many advantages, but everything is focused on users from the USA. I have not figured out all the nuances yet. Perhaps I will return to the issue of cooperation with Etrade later.

I didn't like trading with Etrade. Perhaps, the trading terms are good enough. In particular, I liked the fact that American stocks can be traded without commission fees. Plus, the broker has a good terminal with wide functionality and an intuitive interface. However, there are many negative issues in cooperation. In particular, the technical support service isn’t that good. I had to wait for an answer for several hours.

I am really satisfied with Etrade, although I have heard many different opinions about this broker. As for me, I don't care about it, since when choosing a company, I paid more attention to the availability of legal grounds for activity, quality of service, and trading terms. The broker offers a huge set of instruments for the US market. The terminal operates without problems, the execution of transactions is prompt.

You decide for yourself whether to trade with Etrade or look for another broker. Before investing large sums, I carefully analyzed all the documents of this company and the main services. I'm cool with it. The Etrade broker is perfect for active trading in the US stock market. The mobile version of the terminal is up there with the desktop one. This was important to me because I travel often and have to trade while on the go. Well, as for payment discipline, I have no complaints about it. There is no variety of replenishment/withdrawal methods, but I am quite happy with a bank transfer.

I think that it is comfortable working with Etrade even as a novice trader to the stock market. The training base is good enough. I’ve got a lot of useful information about trading. The Etrade website itself is also informative, everything is divided into thematic reviews. I dealt with all the nuances quickly. I heard complaints from other traders about customer service, but I am probably lucky. The guys from support always were smart enough, gave sensible recommendations, and helped to resolve emerging issues.

I’ve recently been using the Etrade platform, trading is going in peaks and valleys since I have little experience in the stock market. The good news is that the broker doesn’t raise trading commissions, and they are generally zero for stocks and options on American exchanges. That stimulates me.
I heard from a friend from the USA that Etrade also offers pension insurance and various banking products. I want to try to cooperate with the company considering that it has already proved itself as a reliable partner.

Author of this Review

ETrade broker’s review prepared by

John Davis

Traders Union Author and Analyst

John Davis is a Financial and Economic Analyst working with the Traders Union since 2016. During this time, he has written more than 100 analytical articles on technical and fundamental analysis, reviews of financial companies and has developed more than 10 proprietary trading systems. John's motto is to help everyone go from a novice to a professional trader.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Do reviews by traders influence the ETrade rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about ETrade you need to go to the broker's profile.

How to leave a review about ETrade on the Traders Union website?

To leave a review about ETrade, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about ETrade on a non-Traders Union client?

Anyone can leave feedback about ETrade on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

Why is it more profitable to work with ETrade through Traders Union?

Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.