Etrade Minimum balance

ETRADE Minimum Deposit

2022 ETRADE minimum balance for a taxable account or a traditional/ROTH IRA. ETRADE minimum deposit (initial amount) to open an account and an account minimum requirements.

ETRADE Minimum Deposit

ETRADE minimum deposit to open a cash account $0
ETRADE minimum deposit to open a margin account $2,000 in cash and/or securities
ETRADE minimum initial deposit to open a ROTH IRA, Traditional IRA, Simple IRA, or SEP IRA $0
ETRADE minimum balance requirement for a cash account or an IRA none

ETRADE vs Competitors


Etrade rating

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Robinhood and ETRADE The Challenge

Two very different brokerage firms are E*Trade and Robinhood. While the former advertises heavily, the latter is less well known. This article will make a detailed comparison of the two brokers, evaluate their strengths and weaknesses, and determine which is better - Robinhood or E*Trade?


Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating


Broker Fees Stock/ETF
Mutual Fund
Annual IRA
Etrade $0 $19.95 $0.65 per contract $0 $0
Robinhood $0 na $0 per contract $0 na


Etrade: Get zero commission on stock and ETF trades.

Robinhood: Get a FREE stock when you open an account with this referral.

Customer Service

An E*Trade associate can be reached by phone 24 hours a day, 7 days a week. The broker's website has a helpful on-line chat function. The company has 30 brick-and-mortar locations in 17 states. There is also a phone number for clients who are temporarily outside the US.

Robinhood does not provide its customers an international phone number. Moreover, it doesn't even provide a toll-free US number. Customer service representatives are available only during market hours, which will eventually be a problem for some traders. It took 48 hours for an agent to respond to a test e-mail.

Looks like E*Trade is the better choice in this category.

Trading Tools

E*Trade's website is user friendly. Helpful menus make finding different areas of the site fairly straightforward. There are good charting tools available, and a graph can be shown full screen. Disappointingly, the broker does not have a trade bar on its site. Instead, trades are simply placed on basic web pages. Trades can also be placed on the company's advanced desktop software, which is available to active traders. A mobile app and platform for Apple Watch are both available at no cost. On-demand CNBC videos can be viewed on tablets and phones, while active traders can watch a live stream of the business channel.

Etrade versus Robin Hood

An advanced platform is not available at Robinhood. Instead, trades are placed on a very simple mobile app. The charting on this mobile platform is less advanced compared to E*Trade's app. Surprisingly, the Robinhood app does not have the capability to display a chart horizontally. There is no other charting program available from this broker, although Robinhood does have a platform for Apple Watch.

Robinhood vs Etrade

E*Trade succeeds in this category, too.

Research and Education

Investors at E*Trade will find a large selection of research and educational materials on the broker's website. Several videos and articles provide basic information on a wide variety of topics, including fixed-income products and 401(k) rollovers. Free stock reports are available from independent analysts such as Thomson Reuters and S&P Capital IQ. Effective screeners can be used to search through all security types E*Trade offers. There is also educational material on futures contracts, which E*Trade customers can buy and sell. Live web-seminars are held frequently throughout the week, and in-person events are also available at some of the company's local branches.

Surprisingly, there are no educational resources at Robinhood. The website is used mainly for account application, although there is a limited help section. The broker's mobile app has a small amount of information on individual stocks, but the E*Trade website has a lot more.

Robinhood fails again.

Commissions and Account Requirements

Robinhood (and Webull) can certainly claim that it has the lowest possible commissions. Stock and ETF trades cost $0. That's not a typo. Trading at Robinhood is free. The company says it is able to do this by charging for paper versions of statements and trade confirmations. The firm also passes on regulatory and exchange fees to traders. A $10 fee is also assessed for placing a trade over the phone with a living, breathing agent.

E*Trade is charging $0 for stock and ETF trades. Using a live representative to place a trade over the phone carries a $25 charge.

A brokerage account at either company has no special fees. There is no minimum deposit required to open a Robinhood account, although E*Trade requires $500.

Robinhood wins here.

Robin hood vs Etrade

Mutual and Exchange-traded Funds

All US-listed ETFs can be traded at either firm for free. In the realm of mutual funds, Robinhood has no offerings. This must disappoint some traders. Over 9,000 mutual funds are available for purchase at E*Trade, with more than 4,400 having neither load nor transaction fee.

This category is awarded to E*Trade.

Etrade or Robin Hood

Cash Management

E*Trade customers have two checking accounts to choose from— E*Trade Checking and Max-Rate Checking. Both accounts come with FDIC insurance, free bill pay, and a free debit card. The basic checking account does not earn interest and does not offer ATM refunds. The Max-Rate checking account offers both, but requires a balance of $5,000 in order to avoid a monthly fee. Conveniently, an E*Trade Bank account can be linked to a securities account.

Regretfully, Robinhood does not offer any cash management functions for its clients. Free trades apparently come at a cost in other areas.

E*Trade succeeds again.


Etrade: Get zero commission on stock and ETF trades.

Robinhood: Get a FREE stock when you open an account with this referral.

Robinhood vs E*Trade: Judgment

E*Trade won five categories, and Robinhood succeeded just once. E*Trade wins by a mile. While Robinhood customers receive free trades, they don't get much else. Anyone looking for $0 commission trades will find a better deal at Webull.

Updated on 6/18/2022.

About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for, Chad can usually be found managing his portfolio or building a new home computer.