While researching for this E-Trade Review and seeing the many positive comments about E-Trade customer service; regardless of the “perceived” higher fees and commissions, I was reminded of that social media criticism (mostly aimed at Facebook) that if you are not paying for something, then you are not a customer… you are likely the product.
In an age when commission free brokers are making a lot of noise, there are a lot of people who would prefer to pay for excellent service. And likely choose a well-established broker like E*Trade – instead of depending on a cheaper solution.
That great 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.”
With its Super Bowl ads, E*Trade became one of the most recognizable names when it comes to investing online, particularly the ones that used to feature the famously cute baby (with a tinge of creepiness) talking with a male baritone voice.
Remember him? If you need to jog your memory or you’re just in need of a little bit of comic relief, YouTube is your friend.
Another reason why E*Trade is a household name in the online investment industry is that it was an early player. Back in 1982, a two-man startup launched an electronic system for stockbrokers called TradePlus (learn how to invest in stocks).
According to one of those two men, Bill Porter, who was 54 at the time (see, it’s never too late to start something new and exciting), started the project with his partner, Bernard A. Newcomb, to enable an individual with a personal computer to trade stocks from home.
In the beginning, this company was started with $15,000. In 1991, TradePlus became E*Trade, a name now synonymous with online trading. As of today, E*Trade Financial (E*Trade stock symbol is ETFC) is a $7 billion online trading giant for do-it-yourself investors.
Clearly, you are dealing with a trustworthy broker. E*Trade has stood the test of time, but is this the broker for you? Let’s take a look at this E*Trade review. Check out a list of the top trading companies.
As a member of Bullish Bears, you want to take control of your economic freedom by learning how to trade with the right tools. An online stock trading service is only as good as the platforms they offer. At least as far as active traders are concerned.
If you are considering E*Trade as your broker, you’ll be happy to know that they do have intuitive trading portals. If you’re a beginner to stock trading, the E*Trade platform can be as easy to learn as TD Ameritrade’s TOS and probably more accessible than Interactive Brokers’ TWS.
Also, E*Trade Web, the browser-based platform at etrade.com is ideal for the less active traders. With streaming market data, real-time quotes, and market analysis the web platform can track your accounts, create watch lists and execute your trades. Moreover, you passive investors who are into mutual funds and IRA accounts can check your investments as often as needed with this free solution.
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 of the reasons why E*Trade bought the company a couple of years ago.
The E*TRADE Pro trading platform is available at no additional charge to customers who execute at least 30 stock or options trades during a calendar quarter. Or maintain a brokerage account balance of at least $250,000. Yes, you read this right. Not $25,000 but $250,000!
3 thing you may like about E*Trade:
3 thing you may dislike about E*Trade:
Looking for how to learn stock trading? Take our free stock market trading courses to help you start your trading journey.
At $6.95, E*Trade’s commissions are on the pricier side. However, if you are an active trader, you can reduce these to $4.95. Despite these costs, E*Trade customers like its intuitive platforms and the excellent customer service. If you need help with your trading activities, 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 with E*Trade. Who and what is E*Trade for?
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.
Regardless of the broker you choose, the Bullish Bears community has your back with education, coaching, and support. Because no matter how powerful or beautiful your platform is, it takes dedication and time to learn how to be a good trader.
And here’s the secret -there is no secret. It does not happen overnight, but the information you will gain by being a member will be crucial to your trading career.