E*Trade Review - Grow Your Wealth Your Way
What is E*TRADE?
How does E*TRADE work?
- A brokerage account. This investing and trading account allows you to buy and sell stocks, ETFs, mutual funds, options, bonds, and more.
- IRAs. You can open and manage tax-deductible retirement contributions in both traditional and Roth IRAs. E*TRADE also provides rollover IRAs to consolidate assets from a former employer’s retirement plan.
How much does E*TRADE cost?
Stocks & ETF trades
Exchange-traded funds (ETFs)
Bonds & CDs
Premium savings account
Who is E*TRADE best for?
Who shouldn’t use E*TRADE?
People who want access to foreign exchange markets
Pros & cons
- Overall, E*TRADE is user-friendly. The mobile app is great if you’re someone who likes to manage your finances on-the-go. You can also use the regular website if you’re checking in at work or home. The user experience on both the website and mobile app both offer tools that are easy to access and understand.
- E*TRADE’s robo advisor platform is a great opportunity for beginners to start investing their money without investing a lot of time. If you’re hesitant to get involved with investing, this can be a great way to gain experience and learn as you go.
- For some, E*TRADE may be more expensive than some of its competitors. There are minimum deposits on some accounts, which can be prohibitive if you’re nervous to start investing in the first place. If you don’t plan to trade often, the costs to trade options and mutual funds may also seem costly. The starting cost to set up an account with E*TRADE’s robo advisor platform may also be more expensive than if you were to use a competitor’s platform.
- Unlike some online brokerages, E*TRADE does not offer a credit or debit card option with its accounts. If you’re looking to open an account that allows you to access your money with this method, you may be better off looking elsewhere.
E*TRADE vs. competitors
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The bottom line
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