What Is Etrade and How Does It Work? Read Our Informative Review!

What is etrade and how does it work

Welcome To My ETRADE Review!

Today we are going to answer the question: What Is Etrade and How Does It Work. This review will answer your questions regarding Etrade and I will also share my opinion about trading at the end of this article. Enjoy!

ETRADE Review - Quick Summary

Name: ETRADE

Website: us.etrade.com

Founded in: 1982

Field: Stock brokerage firm

Summary: Etrade is a relatively reliable stock brokerage. I highly advise that you study diligently before you start trading on their or on any other platform. Trading involves lots of risks and +90% of people lose money while trading.

Is Etrade Recommended? Only for highly educated traders. If you want to learn a proven way to make money online, I advise having a look at my #1 recommendation.


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What Is ETRADE All About?

ETRADE is an online stock brokerage firm which offers investors the ability to buy and sell securities such as stock, future, options, mutual funds, bonds, forex and do online trading research without any interaction with a broker.

ETRADE online platform comes with easy-to-use tools which enable users to maximize their trading experience; you can watch, trade, monitor stocks and view overall performance analytics.

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I also found out that ETRADE provides mobile trading apps (Apple IOS, Apple Watch, Amazon Fire Phone, Kindle Fire, Windows phone, and Android phone and tablet) with impressive features than most brokers offer.

ETRADE’s fees are on the average side for the online options trading industry. You pay $9.99 for the standard trade fee plus $0.75 per options contract, but the $9.99 reduces to $7.99 when you make more than 150 trades per calendar quarter.

However charging at $7.99, ETRADE seems cheaper than many other options brokers like Charles Schwab, TD Ameritrade, and Fidelity but it is not the cheapest. The fee for an exercise is $19.99, which is one of the higher prices I saw for these fees, but the $25 broker-assisted fee is average.

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How does ETRADE work?

To open an account with ETRADE you need a minimum of $500 to open a brokerage account.

Just like most brokerage firm, you can fund your account by doing an electronic transfer from your bank or other financial institution, make a deposit into an ETRADE branch, or send a check via snail mail.

Within a few days of making your initial deposit, you will be ready to start trading.

Who is ETRADE For?

ETRADE is a useful online trading platform for investors of all kinds, who simply want to open a long-term, and stable investment accounts. Even though the transaction fees are not that very soft, but if you plan to make trades and hold unto them, ETRADE can be a perfect suit. Its user-friendly platform provides you with all necessary information and tools.

But the challenge is that it doesn’t teach you how to make money. It requires lots of skills and practice to make money by trading. 95% of traders are losing their money.

If you want to learn skills to make money online, I recommend taking a look at this platform called Wealthy Affiliate.

What is eTrade and how does it work

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What Are the Benefits of ETRADE?

1.Beginner Friendly– Offers users an easy-to-navigate website with a great built-in education investor center. You can decide to do trading yourself or simply reach out to a broker. All this makes ETRADE an easy-to-use online trading platform for even the most novice of investors.

2.Manage Your Account– If you desire to take hands-off your investment, ETRADE has you covered through ETRADE capital management solution. This offers you a financial expert to help manage your portfolio. Their objective is to create and maintain a balanced portfolio that is persistent with your goals, risk, and tolerance. However, to take advantage of this option, you must have a minimum of $25,000.

3.Platform & Tools – ETRADE provides all traders with real-time streaming quote tool, Interactive charts, and even tax advice. However, the more active traders are automatically upgraded to the ETRADE Pro platform, which comes with extended trading hours, and additional tools like the ability to stream CNBC, customizable watch lists, and ETRADE 360 – which integrates all your investments into one place.

4.The length of Services– ETRADE can be regarded as a one-stop shop for financial services because it offers an extended spectrum of investments. This ranges from stocks and bonds to mutual funds and providing banking services to maintain checking accounts and IRAs, and can even apply for a mortgage.

5.Security– Everybody wants to sleep knowing their financial information is secure. ETRADE have a security-conscious reputation with ETRADE’s Symantec Virtual Digital Security Token, where you can receive a keychain-sized device that generates a 6-digit new personal access code every 60 seconds. There is also a Symantec app available for iPhone, Android, Blackberry, and Windows smartphones for individuals who have smartphones.

ETRADE Pricing

What is eTrade and how does it work


                                    ETRADE Pricing

In the picture above you can see what kind of prices ETRADE has. Nordnet, prices are actually higher in ETRADE even though it’s located in U.S where prices are usually lower than in Finland.

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Pros & Cons

Pros:

  • ETRADE’s website is easy to use and its research, investment, and a trading tool are ideal for beginners placing basic trades and experienced traders working on complex orders.
  • Offers a reasonable minimum deposit of $500 requirement which opens the platform to investors of all sizes and levels of experience.
  • You can operate as an investor using financial consultant assistance, or have your portfolio professionally managed.

Cons:

  • More expensive trading fee than most online brokers.
  • High commissions for infrequent traders.
  • Active-trading oriented with perhaps only a few getting the benefits of lower fees.

Trading vs. Slower Strategies

When talking about investing money and trading, I am not a trader. I prefer investing money on long-term for good and valuable companies. A big part of long-term investors are making a profit but only a very small part of traders are earning money.

Trading can sound interesting because there are examples of people who became rich quickly but there are much more examples of traders who became poor quickly. Did one of the richest man in the world, Warren Buffett, became rich quickly? No. He is a man of long-term investing too.

Many investing possibilities can give you a possibility to make passive income while trading requires daily work. Of course, there are some people who prefer trading but I am not one of them. I would love to hear your thought in the comments below.

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Have you used eTrade or some other trading platform? Which one is your favorite?

Let me know in the comments below!

If you have any questions, just leave a comment below and I will be more than happy to help you out.

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By Roope Kiuttu

Hello! I am Roope "Robert" Kiuttu, the founder and owner of YourOnlineRevenue.com. I created this website back in 2015 to help you to make money online. You can ask me anything and I'll be happy to help you out. I help people daily to make more money online and I love seeing people succeeding. If you want to get my 1-on-1 support and help to make money online as well, get started HERE.

18 comments

  1. Hey, I hope this comment is legitimate because I dont know what its asking when it asks for a website under email haha but any way your site was helpful when it came to my decision on trading. I want to go for the mile run and do long term investing but I have know idea where to start or if etrade or if any of those sites do that. I already have a 401k and the company that I work for doesnt give me the option to choose who I invest in and I want that option. Can you point me into the right direction? Thank you

    1. Hi Tyler,

      I think Etrade is not the best for long term investing. It’s more like short-term investing. I am investing through Nordnet but it’s mainly for Scandinavian countries.

      If you are from the U.S., I am not sure what’s the best stock exchange broker there. But I’m 100% sure that there are many good ones. Google and YouTube are your friends when finding the best one to your needs.

      If you find a good one, I would appreciate if you would like to share it with us here 🙂

      By the way, have you checked out my recently published Ultimate Make Money Online Guide? https://temp-youronlinerevenue-com.siterubix.com/ultimate-make-money-online-guide/

  2. I have never had any serious interest in trading. I can recall the time Forex trading was trending quite well here and I tried to learn how to trade on Forex but it wasn’t clicking. Coupled with the fear of losing money because of how risky the trade is, I seem to be discouraged even before I started.

      1. Exactly. I have a friend who joined Forex trading recently, he had the same experience with losing money even though he earned a few times but his loss is way greater than whatever he earned in the trading. He eventually had to give it up because I haven’t seen him talking about it for a while now.

  3. Some people make a lot of money off trading, but I belief its a skill.I would stay away from trading unless you’re willing to go to trading school or be mentored by someone who traders they are subscription services that allow this.

    They are also not cheap. Also you can loose a lot of money. Ever watched the wolf of wall street? In trading the only people who make money are the trading sites themselves. Whether you win or loose they get a commission.

    1. I haven’t fully watched the Wolf of Wall Street because I don’t usually watch movies but I have seen some clips of that movie on YouTube. I’ve also heard some interviews of Jordan Belfort who is the “real-life” Wolf of Wall Street. They were making big money by making illegal stuff and basically scamming other people.

      You are right that the trading sites always win. They take a commission whether or not a player wins. In addition, +90% of the traders lose money because it really requires awesome skills, lots of patience and nerves to make money with it. I stick to investing because it’s easier to make money with it and often also more profitable.

  4. Looks like a good site and I love that it is much more beginner friendly than some of the other sites out there. I’ve always been interested in investing and stocks but never had the gut to go ahead with it. I’m not sure if this is the right site for me though, a minimum topup of $500 might be a bit too much especially when other sites have a much lower minimum of around $100.

      1. That’s nice of the site Nordnet to have a minimum deposit of less than $100 for traders, it’s going to make it easier for the people in Scandinavia to use it often. Please let me ask this question, between trading in stock market and Forex trading, which one is more profitable?

        1. Both of them can be profitable. I personally prefer investing in stocks because companies usually provide real value unlike investing in some currencies.

          I don’t personally do almost any trading. I mainly invest for the long term potential.

          1. I see. Going with stock investment seems more feasible especially when one is buying from a reputable company that its books checks out. At least since companies publish their profit and loss records annually, it gives one the information to know the direction the company is heading at before investing in their stock.

  5. I take interest in stock trading. If Etrade is Stock brokerage firm, I think I will check the company website. Even though you say it is for highly educated trader, I might put money in stock trading through Etrade. One of the reasons why I am interested in Etrade is their low priced trading options. It takes time to build income through stock trading, however, it is better than most of the make money online programs.

    1. Trading is one way to make money online though I recommend that you study diligently first and make your research. +90% of the traders lose money but most of the investors make money.

      That’s why I don’t do trading but I invest in the stock market. The fees are lower when not doing trading and it’s also easier to research the fundamentals of the company that the stock price in my opinion.

  6. I think yesterday I already visited a page on your site. Your Site content is phenomenal. What the what should I drew attention was the visual part. I think we need to do a lot more beautiful logo.

    I do not like the look is not in color. Also, the colors that you use in the text does not agree with the colors in your logo. I’m not sure you have to change the subject, or just to change your logo and maybe add background color.

    1. Hi Jelena,

      thank you very much for your feedback. I will take it into account when I am developing our websites.

      Visual aspects are important even though the content is king.

      Cheers,

      Roope

  7. Thanks for the detailed info about Etrade. I’m surprised they’ve been around since 1985! From what you describe it absolutely seems beginner friendly, especially with the $500 minimum buy-in. It does seem like you’d have to be really active in order to get the best fees. The most important point is that there are very few “winners” and mostly losers, and a long-term strategy is probably healthier and smarter.

    1. Hi Penelope,

      yeah, they have been already around for 32 years. Buying and holding is a good strategy to avoid big fees. If you buy a stock and hold it for 5 years, fees don’t have anymore so much impact.

      -Roope

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