TD Ameritrade 300

Etrade Account Closing Fee


2018 Etrade account closure fee. Cost and how to close brokerage investing or IRA accounts online. Etrade termination, deletion, canceling fees.



Etrade Account Cancel Fee


Etrade does not charge account closure fees for both regular brokerage joint or individual accounts.


Etrade IRA Account Closing Cost


Non-taxable or IRA accounts also don't have termination fee at Etrade.


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How To Close Etrade Account


To cancel Etrade account, you first move your cash to your bank or another broker. If you have investments you can either sell them or transfer to another broker. Then you call Etrade customer service and ask them to cancel your account.

More details are in How to close Etrade account »


How To Transfer Etrade Account


If you decide to move your Etrade account to a different firm through ACAT, Etrade will charge you $75 fee for full account transfer. Partial account transfers are $25.

The process of moving Etrade account to other popular brokers is described in this article: Transfer Etrade account »


Etrade Top Competitors


Broker Review Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
TD Ameritrade $6.95 $49.95 $6.95 + $0.75 per contract $0 $0
Ally Invest $4.95 $9.95 $4.95 + $0.65 per contract $0 $0
ZacksTrade $3+ $27.95 $0.75 per contract $0 $0



OptionsHouse by Etrade Overview


Retail investors have different needs than professionals or day-traders. They are interested in easy to use platforms with great customer support and a straightforward company that doesn’t have hidden fees or charges. Let’s take a look at some of the most important qualities of online brokerage firms for retail investors and how OptionsHouse by Etrade grades in these categories.


Fee Structure and Account Minimums


It’s obvious that every investor, retail, institutional or otherwise, wants the lowest commission fees possible. However, it is more important to the individual investor that there are no hidden fees (resulting from account inactivity, low balance, etc.) or high minimums to open an account in the first place.

OptionsHouse by Etrade Offer

Stock trades at $4.95 are excellent and can’t be found at many other online brokerage no minimum to open a brokerage account, and no inactivity or other hidden fees, both of which bode well for the retail investor.

Grade

A: When it comes to fee structure and account minimums it does not get much better than this. Open an account for free with no hidden fees and trade for $4.95, it’s that simple.


Investment Selection


Having a variety of investment options is something that should be important to all retail investors, even if the investor does not have the desire to put money in more complex investments (forex, options, municipal bonds, etc.), always having the ability to enter in to those new markets at any time is important. Additionally, a selection of no-fee investments, like no-load mutual funds and ETFs will always be a bonus.

OptionsHouse by Etrade Offer

Stocks and options are the primary investment types the platform is designed to trade. There are a selection of mutual funds, ETFs, and bonds available as well, but the selection is not comprehensive and alternative investments such as currency and future trading aren’t supported.

Grade

C: Unfortunately, OptionsHouse by Etrade is not a one stop shop for financial investments. The platform is mainly designed for stock and options trading only, and while it does offer a fair amount of mutual funds and bonds, it does not match up well against other brokerage firms in the industry.


Platform Ease of Use


Using a new online platform for any task can be intimidating. When it comes to money, using a new platform can be downright scary. It is important that the individual investor is comfortable using all aspects of a new brokerage platform, whether that is simply placing a trade or tracking technical analysis via charting tools. Online brokerages can offer many complex and in-depth tools that may not necessarily suit the retail investor.

OptionsHouse by Etrade Offer

Since the merger with tradeMONSTER, OptionsHouse by Etrade now provides an intricate platform with a host of tools from in-depth research reports to trading and exit strategies. However, for the casual or less knowledge investor, these tools are over the top and too complex to pick up right away. Trading tools such as liveACTION Scanner and Spectral Analysis will go right over the head of the beginner investor, but as knowledge is gained these tools will be a great resource.

Grade

B: A wide array of tools makes for a great platform, but there is a learning curve for new investors. In the end, the tools make the time investment to learn worth it.


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Educational Resources


Most individual investors don’t have the luxury of an MBA background with extensive knowledge of the financial sector. It takes them time to learn about new investment strategies and decide what will work for them. That is why educational resources such as videos, how-to articles, and live webinars are so important.

OptionsHouse by Etrade Offer

OptionsHouse by Etrade has developed an educational platform known as TradeCYCLE, which ranks as Barrons #1 trading platform. The broker preaches doing homework and testing strategies before even putting one dollar in to the market. Report cards on company fundamentals and technical analysis tools are just some ways that the platform provides resources for investors. However, the best feature may be virtual trading, in which investors can use play money to invest in the market and test their strategy and get comfortable using the platform. There are also great tutorials and webinars with expert traders for everyone, even those without an OptionsHouse by Etrade account. I

Grade

A: Virtual trading is such a great feature that it puts the platform’s educational tools over the top., couple that with an emphasis on doing the appropriate research and analysis, great tutorial videos and webinars, and OptionsHouse by Etrade becomes a great educational source for the retail investor.


Etrade Account Closing Fee


Customer Support


No investor wants to be stuck in a position where they can’t access their account or withdrawal funds. Having a solid support team behind a broker makes them reputable and trustworthy when problems arise.

OptionsHouse by Etrade Offer

There are no in-person branches or offices, but the customer support team is available Monday – Friday, 7am – 7pm Central Time. They are quick to respond to account problems and answer any questions investors may have. It is also generally quick and easy to get a representative on the phone without having to wait.

Grade

B: Solid and helpful support team, but no in-person branches make it hard to give OptionsHouse by Etrade the best grade.


Overall


B+: When putting all of these factors together it becomes clear that OptionsHouse by Etrade is a solid, if not excellent, online brokerage for retail investors. While the firm does not offer the widest array of investments, their ability to offer the lowest fees and account minimums around makes it suitable for retail investors in search of a discount online broker.


Etrade Account Closing Fee Disclaimer


For the most recent information on company cost, including Etrade account termination fees (charge to leave Etrade brokerage service), visit their website.