Updated November 8, 2009. Most people seem to attach ETRADE with the commercials of the talking baby, but, if the stats are correct, ETRADE is one of the most signed up stock brokerages around.
ETRADE is arguably the most popular discount stock brokerage out there, and, just like TD Ameritrade, the services and tools are there but tagged along with higher commissions and even more fees.
Awards and Accolades
- Ranked number 1 online stock broker by SmartMoney in 07, 08, 09
- 4 stars from Barron’s 2009 Online Survey
Commissions and Pricing
- $12.99 per stock trade*
- $12.99 plus 75 cents per options contract*
- $1000 minimum to open account
*Both stocks and option commissions can be lowered to $7 if you meet certain criteria.
Execute 1 trade per quarter or maintain a balance of plus $10,000, to avoid paying a quarterly maintenance fee of $40. There are also tons of other criteria that you can meet, to avoid the fees.
Details and Summary
With an Etrade account, members can select various types of retirement and savings accounts, trade options, stocks, and, futures, and even trade in multiple foreign markets.
Pros
- Excellent tools and resources for traders of all levels
- Mobile trading applications
- Get 100 free trades when you fund your account with $1000
- Get a free Blackberry phone when you open your account
Cons
- High fees and commissions
With Etrade, members also have access to an enormous amount of stock trading tools and resources. There are streaming and downloadable software and applications for built for the iPhone or BlackBerry, so you can trade anywhere and everywhere.
While the high fees would make it seem like ETRADE is only good for new and/or long-term traders, more active traders can drastically knock down fees and commissions by meeting specific criteria.
What to do next – Sign up for ETRADE here
Similar stock brokerages – TD Ameritrade… Find the broker that best meets your needs.