E*TRADE 2025 Review: Everything You Need to Know
E*TRADE remains a prominent player in the online brokerage landscape, offering a blend of competitive pricing, comprehensive educational resources, and advanced trading platforms. The platform is well-suited for both beginner and experienced investors, but it does have some limitations, particularly in asset class offerings like cryptocurrency and international trading.
Note: Regulatory differences across regions may impact user experience and available services. This review aims for fairness and accuracy by consolidating various expert analyses and user feedback.
Ratings Overview
How We Rate Brokers: Our ratings process evaluates brokers based on a variety of factors, including fees, account types, trading platforms, and customer service.
Broker Overview
Founded in 1982, ETRADE is one of the pioneers in online trading. It now operates under the umbrella of Morgan Stanley, which acquired it in 2020. The platform includes the standard ETRADE web interface and the more advanced Power ETRADE platform, catering to varying levels of trading expertise. ETRADE offers a wide array of tradable assets, including stocks, options, ETFs, mutual funds, and futures, but does not support forex or cryptocurrency trading directly. It is regulated by top-tier authorities such as the SEC and FINRA.
Detailed Breakdown
Regulatory Regions
E*TRADE operates primarily in the United States and is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The broker is also a member of the Securities Investor Protection Corporation (SIPC), which provides up to $500,000 in coverage for customer securities.
Deposit/Withdrawal Currency/Cryptocurrency
E*TRADE allows deposits and withdrawals in USD. However, it does not support cryptocurrency transactions directly, which may be a drawback for investors interested in digital assets.
Minimum Deposit
E*TRADE does not impose a minimum deposit requirement for opening an account, making it accessible for new investors.
Currently, E*TRADE offers promotional bonuses for new accounts, including up to $1,000 when you open and fund an account. However, promotional offerings may vary and should be checked regularly.
Tradable Asset Classes
E*TRADE offers a diverse selection of tradable assets, including:
- Stocks
- Options
- ETFs
- Mutual Funds (over 6,000 no-load, no-transaction-fee options)
- Futures
Costs (Spreads, Fees, Commissions)
E*TRADE charges $0 commissions for stock and ETF trades. Options trading costs $0.65 per contract, which can reduce to $0.50 for those making 30 or more trades per quarter. There are no fees for mutual fund trading, but penny stock trades incur a fee of $6.95, which drops to $4.95 for frequent traders.
Leverage
E*TRADE offers margin trading, but the rates are on the higher side compared to some competitors. For instance, the margin rate for balances under $10,000 can reach up to 14.20%.
ETRADE provides multiple trading platforms, including the standard ETRADE web platform and the advanced Power E*TRADE platform. Both platforms are accessible via mobile apps available on iOS and Android.
Restricted Regions
Currently, E*TRADE does not offer services for international trading or forex trading, which could be a limitation for some investors looking for a broader range of investment opportunities.
Available Customer Service Languages
E*TRADE offers customer support primarily in English, with additional support available in Spanish, Cantonese, and Mandarin.
Ratings Recap
Detailed Analysis
Account Conditions
E*TRADEs account conditions are highly favorable, with no minimum deposit requirements and a range of account types including individual, joint, and retirement accounts. This flexibility makes it an attractive option for various investor profiles.
The platform boasts a robust suite of tools and resources, especially for options traders. The Power E*TRADE platform offers advanced charting capabilities and a wide range of technical studies. However, the educational content could be better organized, as it sometimes mixes beginner and advanced topics, which may overwhelm new investors.
Customer Service and Support
Customer service at ETRADE has received mixed reviews. While some users report satisfactory experiences, others have noted long wait times and less-than-ideal responsiveness. ETRADE offers 24/7 phone support and live chat during business hours, but some users have expressed a desire for improved service quality.
Trading Experience
The trading experience on E*TRADE is generally smooth, with user-friendly interfaces on both web and mobile platforms. The ability to execute trades quickly and the availability of various order types enhance the trading experience for both casual and active traders.
Trustworthiness
E*TRADE is considered a trustworthy broker, backed by its long-standing history and regulatory compliance. The acquisition by Morgan Stanley further solidifies its reputation in the financial industry.
User Experience
Overall, user experience on E*TRADE is positive, particularly on mobile platforms. The apps are well-designed, offering easy navigation and essential features for managing investments. However, some users find the web platform's navigation to be less intuitive.
In conclusion, E*TRADE presents a compelling option for both beginner and experienced investors. Its extensive educational resources, competitive pricing, and advanced trading tools cater to a wide range of investment strategies, although it does have limitations in asset classes such as cryptocurrency and international trading.
