E*TRADE is one of the US-based multi-asset trading broker platforms. They provide a variety of trading options and a lot of account types for different kinds of users. Here, tradingcritique.com gives the best and detailed Product Guide of E*Trade broker.
- Minimum Deposit: $0
- Trading Commissions: 0
- Regulated by:SEC, FINRA, SIPC
- Market Asset: Stocks ,Options, Mutual Funds, ETFs, Futures, Bonds & CDs.
- Customer support: 24/7
- Deposit Fees: 0
E*TRADE (https://us.etrade.com/home) is one of the first online brokerages in the United States (US). It was founded in 1982 with its headquarters in the United States. E*TRADE Retail branches are 30 across the United States with 4,100+ employees. It has two excellent mobile apps with good features and three computer-based platforms for traders. An Etrade trading platform called are Power E*Trade has exclusive options.
E*TRADE is suitable for Beginners, Investors and Frequent traders. They offer trading Investment Choices such as Stocks, Options, Mutual Funds, ETFs, Futures, and Bonds. They provide 24/7 customer service by financial consultants via Email, Live chat, Phone calls, and FAQ page.
Regulation and Trustability
E*TRADE Securities LLC. (ETS) is registered with the Securities and Exchange Commission (SEC) as Broker-Dealer. E*Trade is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).
SIPC protects the Etrade customer accounts up to $500,000, including $250,000 for claims for cash as Etrade is a member of the Securities Investor Protection Corporation (SIPC). They also provide Fraud protection, which means they cover the losses incurred by their unauthorized use of brokerage, banking, or lending services.
E*TRADE provides encryption and network security for their account types, and personal details are protected when using the website. They also offer Privacy protection and two-factor authentication when logging in.
E*TRADE sends instant notifications for transactions, stock, news, and portfolio alerts in your account via email. If they suspect that your account is a target for fraud, they will send you a higher priority security alert.
E*Trade Recent Awards
E*TRADE received various awards in its years of functioning, and it is recognized by famous awarding platforms, websites, institutions, magazines, etc.
Table 1 : Awards received for the Excellency of E*Trade awarded by various domains
| Awards | Awarded by |
|---|---|
| Best for Mobile Trading | Barron’s Annual Online Broker Survey 2021 |
| #1 Trader App | StockBrokers.com 2021 |
| #1 Options Trading | StockBrokers.com 2021 |
| #1 Web Trading Platform | StockBrokers.com 2021 |
| Best Brokerage for Beginners | Benzinga’s 2020 |
| Best Robo-Advisor for Mobile Experience | Investopedia |
Investments, Products, and Instruments
E*TRADE offers tradable products and instruments for beginners and expert-level clients, a range of instruments from simple to complex. They provide investment products like Stocks, Options, Mutual Funds, ETFs, Futures, and Bonds.
We will discuss them one by one in the following section.
When you start trading with Stocks, it allows you to own a part of the companies from which you bought the stocks. When stock performance changes, successful stocks will help your money grow, and sometimes they will outperform inflation. It allows you to decide which company to invest in, when to buy, and when to sell.
- Free stock analysis and screener
- Trading commission 0
- Potential growth
- Flexible trading options
- Get market data
- Trading control
- Easy-to-read charts
- The top five dividend-yielding stocks are,
- Verizon Communications Inc Com
- Chevron Corp New Com
- Dow Inc Com
- International Business Machs Com
- Walgreens Boots Alliance Inc Com
Options
Etrade provides award-winning trading tools for trading options on stocks, indexes, and futures.
Features in Options Trading
- $1.50 for futures options
- 50¢ equity and index options
- Lowest options contract fees
- User-friendly trading platform and Apps
- Best customer support
- Intuitive tools
- Risk/Reward Probabilities
- Customizable option chain
- Energy move analyzer
- Preset scans
- Spectral analysis
- Strategy seeks
- Risk slide
Futures
E*TRADE provides future trading with different instruments. You can access future trading from world markets. They offer the best trading platforms and attractive trading tools for future trading. You can’t directly trade with futures. They provide request options for future trading, via their customer support (877-553-8887).
Features of Futures Trading
- Trading hours 24/6
- Access for Micro and E-mini contracts
- Support from licensed prospective experts
- No pattern day trading rules
- Ease of going short
- Capital efficiencies
- $1.50 price per contract
Bonds and CDs
E*TRADE offers direct access to over 50,000 bonds and fixed income products from all types of providers. There is no commission fee for US Treasury and new issue bond trades.
Various types of Bonds and CDs
- US Treasury Bonds
- Agency Bonds
- Municipal Bonds
- Corporate Bonds
- High-yield bonds
- Brokered CDs
ETrade Trading Platform
E*TRADEplatform is one of the best trading platforms in the market. It also has an award-winning trading platform called Power ETRADE. The Power E*TRADE platform is Designed to run on both mobile and web. It has more powerful tools and alerts. For beginners, it is easy to handle and access.
E*TRADE on Mobile
ETRADE mobile has two platforms as Power E*Trade and E*Trade. The Power E*Trade is nothing, but it is the advanced version of E*Trade. It has some additional features added, otherwise, both have the same functionality.
ETrade mobile app is available and supported in Apple App Store (iOS) and Google Play (Android) devices, including the Apple Watch and leading tablet devices. You can invest in stocks, ETFs, mutual funds, and options. It allows you to manage cash with Transfer Money, check deposits, and Bill Pay. It offers advanced mobile features like View Bloomberg TV, third-party research, and breaking news.
The Power E*TRADE is Designed for more advanced trading. Its handling is very easy and customizable. You can start rapid trade with stocks, ETFs, Simple and Complex options, and futures on a single trade ticket. It provides access to market movement with streaming quotes, news, earnings, dividends, in-depth views, gains, and more. Mobile apps were available on Apple App Store (iOS) and Google Play Store (Android).
ETRADE on Web
E*TRADE Web trading is easy to access with lots of features, but they do not offer a desktop platform. It is a fixed one and you can’t customize it. They provide two-step authentication for secure login. They have a search option that is too good here. You can be able to set up alerts and notifications from the Set & Manage Alerts page.
E*TRADE Account Types
E*TRADE offers a lot of various account types with sub-account. Their account plans are suitable for different kinds of investors and traders. These types of accounts are planned based on traders, investors, and trading instruments.
Account Types
Brokerage
Brokerage account provides 3 different types of accounts for Children’s Education and Future.
Brokerage account types:
- Brokerage account – Investing and trading account
- Coverdell ESA – Save for a child’s education
- Custodial Account – Brokerage account for a minor
Image 6: Brokerage account types in E*TRADE
Retirement
The Retirement Account is based on a future investment plan. It has a long-term investment process. There are 6 types of accounts available here.
Retirement Account Types:
- Rollover IRA – Take control of an old 401(k)
- Roth IRA1 – Tax-free growth potential retirement investing
- Traditional IRA – Tax-deductible retirement contributions
- Beneficiary IRA – For inherited retirement accounts
- E*TRADE CompleteTM IRA – For retirement investors over age 59½
- IRA for Minors – For children with earned income
Managed Portfolios
This account was fully based on portfolios, E*TRADE offers 4 account types.
Managed Portfolios Account Types:
- Blend Portfolios – Professionally managed portfolios with a $25,000 minimum
- Dedicated Portfolios – Custom-built, professionally managed portfolios with a $150,000 minimum
- Fixed Income Portfolios – A custom portfolio of investment-grade bonds with a $250,000 minimum
- Core Portfolios – Automated investment management
Image 8: Managed Portfolios types in E*TRADE
Small Business Retirement
These types of accounts are suitable for workers or employees.
Types of Small Business Retirement Account:
- Individual and Roth Individual 401(k) – Retirement plan for the self-employed
- SIMPLE IRA – For businesses with fewer than 100 employees
- SEP IRA – For the self-employed and small businesses
- Profit-Sharing Plan – Reward employees with company profits
- Investment-Only Account – For businesses with existing retirement plans
Image 9: Small Business Retirement types in E*TRADE
BANK
Types of Bank Accounts:
- Premium Savings Account – FDIC insured up to $1,250,000
- Max-Rate Checking – Competitive yields and free features
- E*TRADE Checking – Basic checking with no monthly fees
- E*TRADE Line of Credit – Borrow against your investments
Image 10: Bank account types in E*TRADE
Fees, Commissions, and Bonus
E*TRADE offers four ways to transfer funds with different methods. They are,
Fund Transfer methods,
- Wire transfer
- Transfer an account
- Deposit a check
- Transfer Money
Wire Transfer is a fast and secure method for funding. It has transferred money between accounts and different financial institutions. While using this type of transaction, the transaction time is the same business day.
Transfer Money is a free online service for money transfers between two accounts. When using the Transfer Money method for a deposit, time duration takes up to a maximum of 3 business days.
Deposit Types in Transfer Money method
- External account to E*TRADE Bank
- External account to E*TRADE Brokerage
- E*TRADE Bank to E*TRADE Brokerage
- E*TRADE Brokerage to E*TRADE Bank
- E*TRADE Bank to E*TRADE Bank
- E*TRADE Brokerage to E*TRADE
- E*TRADE Bank/Brokerage to E*TRADE IRA
- E*TRADE Bank/Brokerage to External Account
They do not charge a withdrawal fee, except wire transfer. There is no card or e-wallet transaction in E*TRADE.
Customer Support
E*TRADE offers 24/7 customer support via Phone call, Email, Live chat, and FAQ page. Currently, they provide a limited live chat option only. The response time is good, and they reply to Emails in a maximum of 1 day. Also, the FAQ page has answers that are relevant to questions.
Table 2: Phone numbers to contact ETrade State wise in USA
| State | E*Trade Contact Number |
|---|---|
| International Phone Number | 800-387-2331 |
| UNITED STATES | |
| Scottsdale, AZ | 1-866-789-0723 |
| Brentwood – Los Angeles, CA | 1-866-789-0719 |
| Costa Mesa, CA | 1-866-789-0713 |
| Cupertino, CA | 1-866-789-0786 |
| La Jolla, CA | 1-866-789-0728 |
| Palo Alto, CA | 1-866-789-0725 |
| Roseville, CA | 1-866-789-0735 |
| San Francisco, CA | 1-866-789-0724 |
| Torrance, CA | 1-866-789-0731 |
| Denver, CO | 1-866-789-0720 |
| Washington, DC | 1-866-789-0726 |
| Orlando, FL | 1-866-789-0722 |
| Fort Lauderdale, FL | 1-866-789-0732 |
| Tampa, FL | 1-866-789-0783 |
| Atlanta, GA | 1-866-789-0714 |
| Chicago, IL | 1-866-789-0712 |
| Boston, MA | 1-866-789-0721 |
| Farmington Hills, MI | 1-866-789-0729 |
| Edina, MN | 1-866-789-0739 |
| Morristown, NJ | 1-866-789-0762 |
| arden City, NY | 1-866-789-0733 |
| 42nd Street – New York, NY | 1-866-789-0716 |
| Rockefeller Plaza – New York, NY | 1-866-789-0785 |
| Scarsdale, NY | 1-866-789-0737 |
| Charlotte, NC | 1-866-789-0738 |
| Portland, OR | 1-866-789-0781 |
| King of Prussia, PA | 1-866-789-0734 |
| Dallas, TX | 1-866-789-0715 |
| Houston, TX | 1-866-789-0740 |
| Seattle, WA | 1-866-789-0730 |
Research and Education
E*TRADE conducts events on a 1-hour basis via Webinar. The Newsroom educates markets related insights, videos, and press release news. They provide high-quality educational materials, and it covers a wide range of topics.
The videos and educational articles provided by E*TRADE are suitable for beginners and provide useful content. In the knowledge section, they explain markets assets, retirement planning, and future trading plans.
Individually they explain all the products and instruments. Also, they provide how to use and handle their platform with a full path.
