E-Trade Review

E-trade is a full-service online broker that was founded in 1982 and since then has grown into one of the most successful online brokers, one that you will be happy to trade with. The cost per trade stands at 6.95 dollars, meaning it is quite pricy, but with their exceptional service, perhaps it is worth it. They have two apps for mobile devices, which one can use to access their services with ease. The platform is very good when it comes to options trading and mobile trading and it ranks number one in these two categories.
Elen Palmer
October 21, 2019

E-trade: Fees, Account, Comissioms

The customer support of the platform is very responsive, and even if you are using your phone to contact them, it won't take you as long as other platforms, which end up using too much of your credit. They offer comprehensive things to do in this platform from ETFs, stock to retirement, among other things. There is no doubt that you get what you pay for, because for paying 6.95 dollars (plus 0.75 dollars for contract fee) you will get to enjoy some of the best customer service out there and a platform with lots of options for you to trade. E-trade reviews from users are pretty good, and we can agree with them that this is a cool platform for stock trading and ETFs. You can get some discounts from time to time, so maybe you can try E-trade day trading and see how it goes. It is risky, but, if you're lucky, maybe you can make the right predictions. We recommend that you should not try it, but if you have to, then make sure you stake small. Before we dive deeper into our review, let's look at some pros and cons of the platform:
Pros and Cons of E-Trade
Pros of E-Trade:

  • Mobile apps that include a ladder for futures, something that you will not see in any other app.
  • They integrate third-party research to help them offer the best service to their customers.
  • A powerful tool for everybody, whether an experienced trader or a beginner.
Cons of E-Trade:

  • High standard fees for trade.
  • The margin interests are also very high.
  • You may have to use several tools to find all the tools that you may require.

E-Trade: Commissions and Fees

E-trade is well-established and used by millions across the world but their costs can be a little bit more intimidating. The base rate of 6.95 per stock trade and the fee is among the highest in the market considering that you will still need to pay 0.75 more dollars for contract fee. Another additional fee is when you are trading during the pre and post-market hours you will be required to add an extra 0.005 dollars on the basic commission rate.

The positive side of these high fees is that you will get to trade pennies priced at 10 cents or lower without the need to pay any fees. Active traders can get their standard fee reduced from 6.95 to 4.95 dollars if they manage to get 30 or more trades per quarter. In this case, the standard trading fee will be reduced to 4.95, and the fee for the contract will be reduced from 0.75 to 0.5 dollars.

The minimum deposit that is required on your account is 500 dollars. The mutual funds trade fee stands at 1.99 dollars, and the brokers assisted trades fee stands at 25 dollars. As of October 2019, commission-free ETFs are available.

Platforms & Tools :

The web-based platform delivers speed and ease of use. The website is easy to navigate and it might just be the best web-based platform for trading. The charting on the website is powered by a third-party service provider and the charts provided are well-analyzed and provides you with the relevant information you may be needing. The downside is that you won't be able to save these charts, and they do not support a study set as well.

Power E*trade is an excellent platform for options trading and it is very friendly, even for the beginners. For example, when using the snapshot analysis tool, the reward/risk will be analyzed and the results will include smiley faces that translates to risks and rewards.

E-Trade Pro :

E-trade pro is a version that is downloadable on a desktop, and it helps an active trader to track trades with ease. Recently, the pro version is getting more attention than the regular power E-trade. You will not be required to pay extra money or something like that to use the pro version. You just need to write to the support team, and, to be allowed to use the pro version, you will be required to meet certain requirements: placing 30 or more stock or options trade per quarter; having a portfolio balance of at least 250,000 dollars.

Trading technology :

The platform works with several market centers for end-to-end control over the orders to provide clients with high speed and excellent quality of execution. Their technology is among the best, and they keep on adding new things to provide customers with the best experience possible. The only problem is that their prices are a bit higher than most.

Final Thoughts:

E-Trade offers a wide range of options that include around 300 commission-free exchange-traded funds and over 4500 no-fee mutual funds. Also, there are 12 ETFs that you can be sure to trade around the clock on weekdays. The capabilities of options trading for both power E-trade and E-trade pro are very flexible. Fixed-income traders can look for loans from specific firms or they can build ladders.
IQ Option is a better platform Forex for beginners and Forex PRO is better than this platform for professionals, as it provides you with a better experience at a cheaper fee. Try it now.

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