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E*TRADE Review 2024

Written by
Adam N.
Fact checked by
Updated
5d ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Web trading platform
Product selection
Regulated and trusted. Tested via live trading.
4,122 people chose this broker
Available in United States

Why choose E*TRADE

E*TRADE is a US stockbroker regulated by top-tier authorities SEC and FINRA.

It offers low trading fees, including free stock and ETF trading. In addition, it has one of the best mobile trading platforms on the market, and offers plenty of high-quality research tools such as trading ideas and strategy builders. It is a good choice for beginner investors.

E*TRADE's product portfolio only covers US markets and forex trading is not available. The broker doesn't accept bank cards or electronic wallets for money transfers.

BrokerChooser gave E*TRADE a 4.5/5 rating based on analyzing 600+ criteria and testing via opening a live account.

  • Low trading fees (free stock and ETF trading)
  • User-friendly mobile trading platform
  • Great research tools
  • Pays interest on uninvested cash
Overall score
4.5/5
Minimum deposit
$0
Stock fee
Low
Options fee
Low
Inactivity fee
no
Account opening
1-3 days

Not sure if this is the right broker for you? See the best ones.

See how the best brokers in the United States compare to E*TRADE

US stock fee
Estimated commission of a $2,000 trade, assuming a $50 stock price

Fees

Score: 3.8/5
E*TRADE offers free stock and ETFs trades; some bonds and mutual funds are also free to trade. Non-trading fees are low. On the negative side, fees for mutual funds that aren't free are high.
  • Free stock and ETF trading
  • Some mutual funds and bonds are free
  • Low non-trading fees

We compared E*TRADE's fees with two similar brokers we selected, Charles Schwab and Fidelity. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of E*TRADE alternatives.

Commission-free stock and ETFs

It’s extremely great as E*TRADE has commission-free US stock trading.

Broker
US stock
E*TRADE
$0.0
Charles Schwab
$0.0
Fidelity
$0.0
E*TRADE stock and ETF commission

High margin rates

E*TRADE USD margin rate fees are higher than the industry average. USD margin rate fees are calculated as follows: Base rate + tiered markup. Markup under $10,000: +2.50%

Broker
USD margin rate
E*TRADE
14.2%
Charles Schwab
13.6%
Fidelity
13.6%
E*TRADE annual margin rates

E*TRADE's margin rate is volume-tiered. It applies a base rate plus a premium/discount depending on the financed amount. The base rate is set at E*TRADE's discretion and may be readjusted from time to time; at the time of our review, the base rate was 11.45%.

Low options commission

E*TRADE US stock index options fees are about half of the industry average. US stock index options fees are calculated as follows: $0.65 fee per contract; $0.50 with 30+ trades per quarter

Broker
US stock index options
E*TRADE
$6.5
Charles Schwab
$6.5
Fidelity
$6.5
E*TRADE stock index options commission

E*TRADE charges a volume-based fee. The fee is $0.65 per contract for the first 30 trades per quarter and $0.50 per contract above that limit.

No inactivity fee, no withdrawal fee

It charges no inactivity fee and no account fee.

Broker
Inactivity fee
Withdrawal fee
E*TRADE
$0
Charles Schwab
$0
Fidelity
$0
E*TRADE inactivity, withdrawal and other fees

There is no withdrawal fee if you use ACH transfer. Withdrawals to other banks using wire transfer cost $25.

Other commissions and fees

High mutual fund commission: trading mutual funds involves the following charges - $19.99 per trade; ca. 4,500 free mutual funds.

Average futures fees: US index futures fees are as follows - $1.50 fee per contract.

Low bond commission: US treasury bonds come with the following charges - $0 for Treasury bonds, other bonds secondary transaction fee: $1/bond, min $10, max $250..

Broker
Mutual fund
US micro e-mini stock index futures
E*TRADE
$20.0
$15.0
Charles Schwab
$25.0
$22.5
Fidelity
$37.5
-
Misc. fees compared with other brokers

Safety

E*TRADE is overseen by top-tier US regulators and you are protected by a high investor protection amount, but there is no negative balance protection.
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Banking background
Read more

Deposit and withdrawal

Score: 1.6/5
E*TRADE charges no deposit fees and transferring money is easy. On the negative side, you can only use bank transfer and there is a high fee for wire transfer withdrawals.
  • No deposit fee
  • User-friendly
Read more

Account opening

Score: 4.4/5
Account opening at E*TRADE (only available for US clients) is fully digital and user-friendly, but the account verification process is slow.
  • Fully digital
  • No minimum deposit
  • User-friendly
Read more

Mobile app

Score: 4.5/5
E*TRADE's mobile trading platform is one of the best on the market. It's very easy to use and offers a lot of features.
  • User-friendly
  • Good search function
  • Good variety of order types
Read more

Web trading platform

Score: 4.5/5
E*TRADE has a great, user-friendly web trading platform, offering a clear fee report. On the negative side, it cannot be customized.
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
Read more

Product selection

Score: 2.9/5
You can trade plenty of asset classes at E*TRADE from stocks to futures, but only on the US market; in addition, forex trading is not available.
Read more
“I recommend E*TRADE for investors and traders looking for solid research and a great mobile trading platform.”

FAQ

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Author of this review

Adam Nasli

Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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