Day Trading on eTrade

Day Trading on eTrade Platform

7 min read

You came to the right place for those interested in day trading on ETRADE. I will show you why ETRADE is one of the best brokers and platforms for day traders. With hundreds of online brokers and trading platforms, 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 share top honors. One, in particular, is ETRADE.

When starting, 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?

Day Trading on eTrade

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 on 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 to get comfortable with a broker like E*TRADE. That way, you’re not stressed about that aspect of trading.

With its Super Bowl ads, E*TRADE quickly became one of the most recognizable names in the investing industry. 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. We did an entire E-trade review. That lets you see what else they offer besides day trading on ETRADE.

Pros and Cons

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

E*TRADE is a leader in the industry for short-term trading or longer-term investments. 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. It would be best if you had active trader status to use its desktop software.
  3. ECN fee
  4. 0.35% annual fee for roboadvisor management. 
  5. IRA fees

Customer Service

Undoubtedly, 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 it relies 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.

Day Trading Course Options Trading Course Futures Trading Course
DESCRIPTION Learn how to read penny stock charts, premarket preparation, target buy and sell zones, scan for stocks to trade, and get ready for live day trading action
Learn how to buy and sell options, assignment options, implement vertical spreads, and the most popular strategies, and prepare for live options trading How to read futures charts, margin requirements, learn the COT report, indicators, and the most popular trading strategies, and prepare for live futures trading

How Many Trades Can You Make Per Day on eTrade?

You’re looking at day trading on ETRADE, so you want to know how many trades you can make, right? – There’s limitations if you don’t have $25,000 in your brokerage or cash accounts. You’re what’s known as a pattern day trader. As a result, you’re limited to 4-day trades in a rolling five 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. The PDT rule isn’t bad unless you’re an extremely good and emotionless trader. 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 be a great way to reach that goal. And goals help you make smarter trades.

Is eTrade Pro Good for Day Trading?

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 many educational videos, articles, and webinars. In my opinion, one of the best sites for day traders is E*TRADE. 

They are 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. 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.

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? 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.


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 available 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 looking for options, day trading on ETRADE has you covered.

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.  

Final Thoughts: Day Trading on eTrade

Day trading on ETRADE is a SKILL, like many things that make us successful. 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 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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