E*TRADE Account Types

E*TRADE offers a diverse range of account types to cater to various investment needs and goals. The most popular account types include:

• Brokerage Account: This account allows you to buy and sell stocks, ETFs, mutual funds, options, bonds, and more without commission fees for online U.S.-listed trades.
• Retirement Accounts:
• Traditional IRA: Eligible for tax-deductible contributions, with earnings growing tax-deferred until withdrawal in retirement.
• Roth IRA: Offers tax-free growth potential, with no income taxes on qualified distributions if certain requirements are met.
• Rollover IRA: Ideal for consolidating assets from a former employer's retirement plan.
• Managed Portfolios: Automated investment management with a diversified portfolio for a low annual advisory fee of 0.30% and a minimum investment of $500.
• Custodial Accounts: Brokerage accounts for minors managed by a parent or guardian until the minor reaches the age of termination.
• Coverdell ESA: Save on a tax-deferred basis for a childs education with tax-free withdrawals for qualified educational expenses.

For banking needs, E*TRADE also provides Premium Savings Accounts with an annual percentage yield that is significantly higher than the national average, and Certificates of Deposit (CDs) with fixed rates.

E*TRADE Broker Account Opening Process

Opening a brokerage account with E*TRADE is a straightforward process that can be completed in about 10 minutes. Heres how to do it:

• Visit the E*TRADE Website: Go to the E*TRADE homepage and select the option to open a brokerage account.
• Provide Personal Information: Fill out the application form with your name, address, date of birth, and Social Security number. You may also need to provide details about your employment and investment experience.
• Select Account Features: Choose how you want to manage your uninvested cash. Options include E*TRADE's financial extended insurance sweep deposit account or other cash management options. You can also opt for a debit card and checkbook if you maintain a minimum balance.
• Review and Submit: Confirm all your information is correct, create a username and password, and submit your application.
• Fund Your Account: After your account is set up, you will need to deposit a minimum of $500 within 60 days to keep the account active. You can fund your account through electronic transfer, check, wire transfer, or direct deposit.

By following these steps, you can successfully set up your E*TRADE brokerage account and start investing in various financial products.