ETrade Review 2012

The following post is another piece in our Online Stock Broker Reviews series designed to help you find the broker that meets all of your investing needs

ETrade logo

After 20 years of being one of the leading online stock brokers, ETrade is one of the most recognizable investment brokers in the country. Whether it’s their name recognition or their cute commercials with the talking babies, ETrade has a great reputation from both critics and customers.

Quick Review

Commissions: $9.99 per trade ($7.99 for frequent traders)
Minimum Deposit: $500
Customer Service: Phone & email support 24 hours a day – no live chat support
Mobile Trading: IPhone, Android, Blackberry & IPad
Real Time Quotes: Free and Unlimited
Educational Tools: Tutorials, Webinars and Videos
Local Branches: Yes
IRA’s & 401K’s: Yes

Open an ETrade account

Account Setup

Signing up for an online investing account at ETrade is simple and easy. All you need to do is open an account by clicking here and fill out the form for the type of account you want.

Once your account is opened you just need to fund your account either via wire, ACH or by check. If you have an account elsewhere that you would like to transfer in you can also do that instead.

ETrade requires a minimum balance of $500 in cash or securities for your account, which is a fairly low amount but some brand new investors may prefer a no minimum balance account elsewhere.

Fees & Commissions

ETrade charges the following fees and commissions for online trades:

Stocks & ETFs: $9.99 per trade ($7.99 per trade if you place 150+ trades per qtr)

Simple Options: $0.75 per contract plus $9.99

Mutual Funds: No load, no transaction fee funds: $0, Transaction-fee funds: $19.99

Bonds & Treasuries: US Treasury Auction: $0, Online Secondary Trades: $1 per bond (min $10, max $250)

Futures: $2.99 per contract, per side + fees

Types of Accounts

Trading & Investing
– General Investing
– Employee Stock Plans
– Business
– Corporate/LLC
– Trust & Estate
– Investment Club
– Managed Investment Account
– Unified Managed Account

Active Trading
– Power E*TRADE
– Futures Trading

Global Trading
– Global Trading

– Rollover IRA
– Traditional IRA
– Roth IRA
– IRA for Minors
– Complete IRA
– Beneficiary IRA

Small Business Retirement Plans
– Individual 401(k)
– Money Purchase
– Profit Sharing
– Investment-Only Non Custodial

– Custodial
– Coverdell

– Complete Savings
– Money Market
– Max-Rate Checking
– E*TRADE Checking

Investments Available

At ETrade you can invest in the following:

  • Stocks
  • ETF’s
  • Options
  • Mutual Funds
  • Bonds
  • Treasuries
  • CD’s

Customer Service

ETrade features 24/7 customer support, which I am a big fan of. Although the markets are only open for limited hours throughout the week there are a lot of scenarios where you will need assistance and it’s nice to know ETrade is there.

Unlike many other discount online brokers, ETrade also has physical branch locations so if you live near one you can stop in for assistance. If you don’t live near a local branch, ETRade’s customer service can be reached either by phone, via online chat (which I have personally used and can recommend) or via email.

Open an ETrade account

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