First interaction with E*trade reveals a simplistic website that provides only the most basic information. To get all the information one requires for an informed decision, one must delve deeper into the pages of the site.
E*trade doesn’t charge any sign-up fee, base commission, or inactivity fee. It doesn’t have an account minimum, either. E*trader has a transfer out fee of $75 (or $25 for a partial transfer).
E*trade might appear unappealing upon first glance, but it provides its clients with 2 advanced apps that are very user-friendly. These apps are free and available to all, even without trading activity. These apps are probably the best apps in the industry.
The E*trade website offers free streaming data, market quotes, analyst research, and much more. Their desktop app is just as easy to use and informative as the apps.
The web app comes with over 100 technical studies and dozens of drawing tools, and more. E*trade also provides its clients with educational materials. This is where E*trade shines: it is a one-stop-shop for all trading needs.
Back in 2019 E*trade had a relatively high trade commission ($6.95), but in October it changed it to $0 commissions for online stock, options, and ETF trades.
Experienced traders are likely to enjoy the very wide range of assets available to them with E*trade. Traders who are new to the industry can benefit from the educational resources included in the account. While E*trade provides tutorials online, they also have live in-person events at one of their 30 locations.
One way in which E*trade stands out among the rest is the excellent customer service they provide. They can be contacted via email, as well as on the phone and live chat 24/7. They go further and set up quality in-person service in their 30 branches.
For those who prefer robo-advisors, there is a highly advanced one available for an annual management fee of $0.30% with an account minimum of $500.
Finally, following a comprehensive analysis of this brand, we came to the conclusion that the only thing that needs improvement here is the website. A little more transparency and centralization of information would be very beneficial.