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ETrade review 2010: good brokerage with high commissions
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- Equities and options commissions: $12.99
- $9.99 if $50K+ in assets or 30-149 trades per quarter
- $7.99 if 150+ trades per quarter
- Mutual Funds: 7,000+ available - 1,000+ no load no transaction fee (under 800 with a $19.99 transaction fee)
- Futures contracts: $2.99
- US Treasury auction: $0
- Investment products: stocks, bonds, mutual funds, futures, options, ETFs
ETrade new account registration is fast and well-organized. Minimum amount to open account is $1,000.
After creating account, you could immediately log in into the website and start exploring its features.
Unfortunately, unlike Zecco
(Zecco Review),
ETrade does not offer paper trading, so you will have to wait until your money transfer is complete to try ETrade
in action.
ETrade.com Trading Tools Review
If you are an active trader, you will get lower commissions and more advanced trading tools.
Once you have an ETrade Complete Investment Account it will automatically be upgraded to a
Power ETrade Account if you make at least 10 trades a month, or a minimum of 30 stock or options trades
a quarter. You will then have the features of the Power ETrade Account
available for as long as you maintain your trading frequency. Power E*TRADE Pro is a
fully customizable desktop trading software which includes free access to powerful
trading tools, advanced charts, technical studies, scanners and analytics tools.
- Very good trading tools
- No IRA account fees, no minimums with electronic statements and confirms
- Minimum to open: $1,000 for cash account, $2,000 for margin account
- Banking products: checking, savings, money market accounts, CDs and credit cards
- High trading costs
- Extra $0.015 per share will apply to that portion of the order that exceeds 2,000 shares
- $40 Account Service Fee might be charged each quarter in some rare instances
ETrade Review Summary
ETrade is a well-known online brokerage with very solid services.
The firm offers decent banking services to its customers, though the interest rates are not as good
as with best online banks.
ETrade is much more expensive than many other
stock broker firms we reviewed.
Because of high trading costs and Account Service Fee, ETrade is not a good choice for small and
medium investors.
If you don't have at least $50,000 account balance or make at least 150 trades per quarter, than it's going
to be very expensive for you to invest with ETrade.
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