E*Trade Online Full Brokerage Review

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E*TRADE is an online brokerage site that specialize in stock, option, bond, future and mutual fund. E*trade also provides many additional banking financial services such as High Yield Saving accounts, checking account & mortgage. Etrade also offers a wide selection of trading tools for their customers, as well as low trading commissions. 

E*TRADE also allows its investors or traders to trade stocks on their smart phones such as iPhone and BlackBerry with the use of E*Trade Mobile Pro. They are one of the largest financial brokers in the world with > 4.5 million accounts in about 40 countries with customer assets in excess of $100 billion.

The following is the standard pricing for etrade:
Products: Stocks, options, futures, bonds & mutual fund Market/Limit Orders: $9.99 for stock and/or etf Options: $9.99/trade+$0.75/contract
eTrade Platform
Futures: $9.99/trade+$2.99/contract Mutual Funds: $0.00 (No Load, NTF) & $19.99 (Transaction-fee Fund)
Broker Assisted: Add $45 (ex: Market order = $54.99)
Minimum to Open: $500 Inactivity Fee: $0.00 with exception
Some Other Fees: Paper Statement: $2.00 per statement; ACAT Out: $60.00.
Maximum Margin Rate: Based on proprietary base rate

Opening an account

Opening account is straight forward; you just need to fill the online application through etrade website. You can open individual, joint, and Individual Retirement accounts (IRA). The following accounts are being offered by etrade such as Employee Stock Plans, Business, Corporate/LCC, Trust & Estate, incestment club, rollover IRA, traditional IRA, Roth IRA, beneficiary IRA, etc. They may require you to submit some identification as well. The application only takes about 10-15 minute. Once you are done, you’ll need to wait for their approval. Then, you can setup how you want to fund your account.

What are the advantages using etrade?
  1. Offer several premium services such as excellent trader platform Power Etrade Pro 5.0
  2. Best mobile trading application Etrade Mobile Pro for blackberry & Apple iphone
  3. Etrade website is very user friendly.
  4. There are additional banking services such as Online High Yield Saving account (complete savings), and Checking account (Max-Rate Checking & e*trade checking).
  5. Offer international market for trading such as Canada, France, Germany, Hong Kong, Japan, and the United Kingdom.
  6. Also offer after hour trading either it is pre market and post market hour.
  7. Offer complex and conditional buy or sell order
  8. Have an excellent Dividend Reinvestment Plan (DRIP) program
Disadvantages
  1. Compare to other brokerage the $9.99 trades is more expensive than discounted competitors such as Fidelity, Charles Schwab, LightspeedJust2tradeVanguard.
  2. Some of the premium feature such as Power Etrade Pro is not available to all clients.
  3. Account maintenance fees of $25 per quarter for some investor
 Details also can be read on Hubpages: My E*Trade Brokerage Review

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