E*TRADE Account Type

E*TRADE offers a variety of account types to cater to different investing needs, including:

1. Brokerage Account: A standard account for buying and selling stocks, ETFs, mutual funds, options, bonds, and more. There are no minimum funding requirements to open this account.
2. Retirement Accounts: Options include:

• Traditional IRA: Allows pre-tax contributions, with earnings growing tax-deferred until withdrawal.
• Roth IRA: Funded with after-tax contributions, allowing for tax-free growth and withdrawals in retirement.
• Rollover IRA: For transferring assets from a previous employer's retirement plan.
• SEP IRA: Designed for self-employed individuals and small business owners.
• Simple IRA: For small businesses with fewer than 100 employees.

3. Custodial Accounts: Managed by an adult for a minor, allowing investment for children.
4. Coverdell ESA: An education savings account for tax-free growth on funds used for qualified education expenses.

E*TRADE also provides managed portfolios, which are automated investment accounts with a minimum investment of $500 and a low annual advisory fee of 0.30%.

E*TRADE Broker Account Opening Process

Opening an account with E*TRADE is a straightforward process that can be completed online in about 10 minutes. Here are the steps involved:

1. Visit the E*TRADE Website: Go to the official E*TRADE site and click on “Open an Account.”
2. Select Account Type: Choose the type of account you wish to open (e.g., brokerage account, IRA).
3. Provide Personal Information: Fill out the application form with your personal details, including:

• Full name
• Date of birth
• Social Security number
• Residential address

4. Set Up Funding: You can fund your account through various methods, including electronic bank transfers, wire transfers, or checks. There are no minimum funding requirements for brokerage accounts.
5. Review and Submit: Review all provided information to ensure accuracy and submit your application. You will receive confirmation and further instructions regarding your account setup.

Once your account is approved, you can start trading as soon as your funds are available.