Tag Archive | "Etrade Review"

Etrade Review

Etrade Review | What Traders Like About Etrade

EtradeEtrade is one of the premiere online discount brokers. Having pioneered online trading during the 1990s, Etrade has built a substantial user base and a commanding position in the world of online trading brokerage services. For those looking to start online trading or switch online brokers, a review of Etrade’s services is worthwhile to assess whether Etrade is the best online discount broker to trade with.

Traders give Etrade’s online trading platform (website) and their mobile trading application high marks for their usability and versatility.  While some traders have had problems with Etrade’s customer service, traders generally give Etrade’s customer service satisfactory ratings and like the fact that it is available twenty-four hours per day, which can be important if trading issues arise or if a trader is new to online trading and has a lot of questions.  Traders like the wide variety of research tools that Etrade provides.  Many traders use the banking services that Etrade provides along with their brokerage services, which is something that distinguishes Etrade from many other online brokers.

Traders also like that Etrade does not add surcharges to large orders or penny stock orders, and that Individual Retirement Accounts (IRAs) do not incur account maintenance fees.

Etrade Review | What Traders Do Not Like About Etrade

Thrifty traders find Etrade’s commission schedule to be a bit pricey when compared to cheaper rivals. While Etrade’s commission schedule is competitive, there are online brokers with cheaper commission schedules, which can add up to substantial costs, if a trader is an active trader and incurs hundreds or thousands of commissions per month.  Traders also do not like the high margin rates that Etrade charges or the surcharge that Etrade places on after hours trades.

Day traders may find Etrade’s offerings for their type of fast past trading to be inadequate, and may find specialty brokers that cater to day traders to be more suited to their needs.  Overall, for causal to active traders and investors, Etrade offers a trading platform, trader tools, and customer support that are quite adequate.  The availability of banking services with Etrade is a bonus that many traders and investors find quite useful, as they can manage their more conservative investments, such as certificates of deposit (CDs) and savings accounts, along with their brokerage accounts and easily transfer money to and from the different types of accounts.

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