Day Trading on eTrade

Day Trading on eTrade

7 min read

For those interested in day trading on ETRADE, you came to the right place. I’m going to show you why ETRADE is one of the best brokers and platforms for day traders. With hundreds of online brokers and trading platforms out there, one can be quickly overwhelmed trying to pick the right one. So, how does one choose? There is no single best one, but most certainly a few that share the top honors. One, in particular, is ETRADE.

When you’re starting out, picking a broker is the most important start of your trading journey. What are you looking for? The cheapest stock brokers or maybe the best options broker?

If you’re looking to day trade, should you consider E*TRADE? Day trading on ETRADE is a good start for a beginner trader. You don’t want to be working about order execution when day trading.

As a result, the best broker for a new trader is one that’s quick. The quicker your order fills, the better your entry; if you know what you’re doing. Make sure to place practice trades so you get comfortable with a broker like E*TRADE. That way you’re not stressed about that aspect of trading.

E*TRADE quickly became one of the most recognizable names in the investing industry with its Super Bowl ads. Remember the cute baby with the creepy male baritone voice? Yep, that’s E*TRADE in action. Founded in 1982 by two men with $15,000, E*TRADE has stood the test of time.

As of today, E*TRADE is a $7 billion online trading behemoth for do-it-yourself investors. In fact, we did an entire E-trade review. That way you can see what else they offer besides day trading on ETRADE.

One of the Best Brokers and Platforms for Day Traders

For 38 years, E*TRADE has been one of the top players in the online trading arena. By offering both advanced and easy-to-use features, E-Trade offers decent options to both experienced and new traders.

For short-term trading or longer-term investments, E*TRADE is a leader in the industry. It defines itself as an online discount brokerage ‘hybrid’ because it relies on customer service reps and accessible advisers for those who want the “human touch.” 

Top 5 Pros

  1. One of the five largest brokerage firms in the U.S
  2. Zero inactivity fees!
  3. Powerful trading platforms and tools
  4. Variety. They have over 10,000 mutual funds, every ETF, over 30,000 bonds, and more than 4,200 no-load, zero fee mutual funds to choose from
  5. Customer service. A real human is available to talk to 24/7. You won’t find that at Robinhood.

Top 5 Cons

  1. $500 minimum deposit amount
  2. You need to have active trader status to use its desktop software.
  3. ECN fee
  4. 0.35% annual fee for roboadvisor management. 
  5. IRA fees

Is Day Trading on ETRADE Right for You?

Undoubtedly, new traders need two things from their online stock trading platform: cutting-edge tools and research. Not only does E*TRADE have both, but their platform also boasts a ton of educational videos, articles, and webinars. In my opinion, one of the best sites for day traders is E*TRADE. 

E*TRADE is an excellent fit for frequent traders. If you are considering day trading on E*Trade, you’ll be happy to know the platform is easy to learn. I’d say it’s easier than both ThinkorSwim and Interactive Brokers‘ Trader Work Station.

With streaming market data, real-time quotes, and market analysis, their web platform can track your accounts, create watch lists and execute your trades.  As well, their charts automatically draw support and resistance lines and identify technical patterns (see image below). That’s what makes day trading on ETRADE pretty great.

How Many Trades Can You Make per Day Etrade?

You’re looking at day trading on ETRADE so you want to know how many trades you can make right? Well if you don’t have $25,000 in your brokerage account or a cash account, you’re limited. In fact, you’re what’s known as a pattern day trader. As a result, you’re limited to 4 day trades in a rolling 5 business days.

A lot of new traders can be frustrated by that. So they either look for brokers with no pdt rule or go with a cash account. Unless you’re an extremely good and emotionless trader, the PDT rule isn’t a bad thing. In fact, you can set a goal to grow your account to $25,000.

And when you have something to work for, day trading on ETRADE can a great way to reach that goal. And goals help you make smarter trades.


For the active investor type that likes to stay on top of market movements, the OptionsHouse by E*TRADE might be better suited. Don’t let the name fool you. The OptionsHouse trading platform is not only for options trading. Stocks, futures, index funds, and even Bitcoin are at your disposal to trade.

Nonetheless, the OptionsHouse trading platform has a better reputation among options traders. It’s likely one reason why E*TRADE bought the company a couple of years ago. So if you’re into options, day trading on ETRADE has you covered.

Is Etrade Pro Good for Day Trading?

For advanced trading, E*TRADE offers the Pro Platform. The desktop software is jam-packed with tools. It includes a powerful strategy scanner. It even has backtesting capabilities (find out how to day trade stocks in our free courses). 

The desktop software is jam-packed with tools. Where to begin? Well, for starters, E*TRADE has a powerful strategy scanner with backtesting capabilities.However, like most things in life, it’s not free. But you only need to place 30 stock or options trades quarterly, and the fee is waived.

Fantastic Customer Service

Without a doubt, their amazing customer service may explain why E*TRADE has been one of the top players in the online investing industry for a long time. It defines itself as an online discount brokerage ‘hybrid’ because of its reliance on customer service reps and accessible advisers for those who want the “human touch.”

If you need help with your trading activities, the chances are that E-Trade support will respond promptly. Because of that support, if you’re starting on the path to economic freedom, I think you’ll be in good hands day trading on ETrade. I would put them on par with TD or Fidelity for customer service.

The Cost To Trade on E*Trade

Following along in the footsteps of industry fee disruptors like Robinhood, E*TRADE has also eliminated their commissions. As of October 7th, 2019, you will pay zero commissions for online U.S.-listed stocks, ETFs and options trades. Previously, their fees started at $6.95, which most certainly was on the higher end of the spectrum.  

Closing Thoughts

Day trading on ETRADE, like so many things that make us successful, is a SKILL. I have friends, for example, who are phenomenal surgeons. One day they didn’t just wake up that way. They didn’t roll out of bed one morning and start operating on people. Instead, they studied and interned. They spent years in residency honing their craft and building their skills until they became master practitioners.

Like surgery, day trading is a skill– and one that most people never had the chance to develop. Again, how could we? Successful trading habits aren’t taught in public schools, and most people don’t grow up with much exposure to the topic. 

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