E*TRADE Account Types

E*TRADE offers a variety of account types to cater to different investment needs and goals. The main types of accounts include:

• Brokerage Account: This standard investment account allows you to buy and sell stocks, ETFs, mutual funds, options, bonds, and more. There are no account minimums or maintenance fees, and you can start trading with $0 commissions for online U.S. listed stocks, ETFs, mutual funds, and options trades (options trades incur a fee of $0.50 to $0.65 per contract).

• Retirement Accounts: E*TRADE provides several tax-advantaged retirement accounts, including:

• Traditional IRA: Contributions may be tax-deductible, and earnings grow tax-deferred until withdrawal.
• Roth IRA: Contributions are made with after-tax income, allowing for tax-free growth and withdrawals in retirement.
• Rollover IRA: Allows you to consolidate assets from a former employers retirement plan without incurring penalties.

• Managed Portfolios: For those who prefer a hands-off approach, E*TRADE offers automated investment management with Core Portfolios, which require a minimum investment of $500 and charge a low annual advisory fee of 0.30%.

• Banking Accounts: E*TRADE also provides savings and checking accounts with competitive interest rates and FDIC insurance.

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 click on the "Open an Account" button.

• Choose Account Type: Select "Brokerage Account" and complete the online application. You will need to provide personal information including your name, address, date of birth, and Social Security number.

• Funding Your Account: You can fund your account instantly online or by mailing in your initial deposit. E*TRADE requires a minimum deposit of $500 to keep the account active within 60 days.

• Review and Submit: After filling out all necessary information and selecting preferences for managing uninvested cash, review your application for accuracy. Create a username and password, then submit your application.

• Account Activation: Once your application is approved, you will receive your account number. You can then start trading as soon as you fund your account and the funds have cleared.

For more details, visit E*TRADE Account Opening Process.