ETrade is a US online broker that offers a wide range of investment products and services, including US-listed stocks, bonds, ETFs, mutual funds, options, and futures. It also offers checking and savings accounts through Morgan Stanley Private Bank, which are fully integrated with your ETrade Securities account.
This means that you can easily transfer money between your brokerage account and your checking or savings account, and you can use your checking or savings account to make trades on your brokerage account.
Benefits of ETrade
Some of the reasons of investing and trading with ETrade include:
- Integrated account. ETrade and Morgan Stanley Private Bank offer integrated accounts that allow you to view and manage your trading, investing, and banking activities in one place. You can instantly transfer money between your accounts, making it easy to fund your brokerage account and start trading.
- Low or no fees. You pay less or nothing for some services and products. For example, it offers $0 commissions for stocks, bonds, ETFs, futures, and mutual funds.
- Advanced trading tools. ETrade offers a variety of advanced trading tools, including Level II quotes, streaming data, and technical analysis tools.
- Mobile trading. Etrade’s mobile trading platform allows you to trade stocks, ETFs, and options from your smartphones and tablets.
- ETrade’s virtual trading. This is a great way to learn the ropes of the stock market without risking any real money. It offers a variety of features that make it easy to get started, including a simulated portfolio, real-time quotes, and access to educational resources.
How ETrade Works
To use ETrade, you first need to open an account. You can do this online or by calling ETrade customer service. Once your account is open, you can fund it with a bank transfer or a check.
To buy a security on ETrade, you can use its website or mobile app. You will need to enter the ticker symbol of the security you want to buy, the number of shares you want to buy, and the price you are willing to pay. ETrade will then execute the order and buy the security for you. To sell a security on ETrade, you can use the same process. You will need to enter the ticker symbol of the security you want to sell, the number of shares you want to sell, and the price you are willing to accept. ETrade will then execute the order and sell the security for you.
ETrade charges a variety of fees for its services. These fees can vary depending on the type of security you are trading, the amount of money you are trading, and your account type.
How to Open ETrade Brokerage Account
To open Etrade brokerage account, you need to be a US citizens aged 18 and above with a valid Social Security number. You also need a valid US ID such as a driver’s license and a valid US address. You can open ETrade account online, by phone (800-387-2331) or mail (PO Box 484, Jersey City, NJ 07303-0484). For account opening via mail, you need to download the application from the website, complete and sign it. Finally, send the application with a check made payable to ETrade Securities or ETrade Bank (depending on the type of account you are opening).
Can I Use Etrade as a Bank Account?
Yes, ETrade offers FDIC insured bank accounts via Morgan Stanley Private Bank. Available ETrade banking options and features are the following:
ETrade Premium Savings Account
- No minimum monthly account fee
- ETrade savings account rate is 0.20% APY
- FDIC insured up to $1,250,000
- Real-time money transfers between ETrade accounts
- No account minimums are required to maintain Premium Savings Account
ETrade Max-Rate Checking
- Convenient mobile and online banking with no ATM fees
- 0.05% APY5
- $100 minimum opening deposit
- FDIC insured up to $250,000
- Maintain an average monthly balance of $5,000 to waive the $15 monthly fee
- Free online Bill Pay service
- Unlimited free ATM fee refunds
- Free ETrade Max-Rate Checking debit card
ETRADE Checking Account
- No monthly account fees for ETrade checking non-interest-bearing account
- 0% APY
- $100 minimum opening deposit
- FDIC insured up to $250,000
- No minimum balance and no monthly account fee
- Free online Bill Pay service
- Unlimited debit and check transactions
- Free ETrade Checking debit card
- No account minimums are required to maintain ETrade Checking
Investing and Trading With Etrade
ETrade gives you a wide range of investment and trading options. You can choose any of the following investment accounts:
- ETrade Brokerage Account. This account allows you to sell stocks, ETFs, mutual funds, options, and bonds.
- ETrade Core Portfolios. With a minimum of $500, you will get a diversified portfolio that is managed for an annual advisory fee of 0.30%.
- ETrade IRA. Invested earnings grow until you withdraw them in retirement. You have the options of Etrade traditional IRA, ETrade Roth IRA and ETrade OneStop IRA rollover.
- ETrade Stocks. Stocks let you own a piece of a company. You can select stocks from numerous businesses and industries and have the flexibility to trade them throughout the trading day.
- ETrade Options. Options give you the right to buy or sell an investment in the future at a predetermined price. That can help protect your portfolio from market swings—or let you take on more risk, for potentially more reward.
- ETrade Futures. Like options, futures let you lock in a price now for an investment you’ll buy in the future. They cost much less than the actual investment, so you can control a large contract with a relatively small amount of capital.
- ETrade ETFs. ETFs are managed baskets of stocks and bonds—one-stop securities designed to match the performance of an entire market, industry, or strategy.
- ETrade Mutual Funds. Mutual funds are baskets of investments, chosen and managed by professionals. They’re created around specific strategies, so they give you one-stop access to fund managers’ expertise.
- ETrade Bonds & CDs. These investments pay regular interest and typically aim to return 100% of their face value at maturity. Choices include everything from U.S. Treasury, corporate, and municipal bonds to FDIC-insured certificates of deposit (CDs).
ETrade offers ways to gain indirect exposure to popular cryptocurrencies such as Bitcoin via securities and futures. These are:
- Cryptocurrency stocks: There are a number of publicly traded companies that are involved in the cryptocurrency industry, such as cryptocurrency miners, exchanges, and payment processors. By buying shares of these companies, you can gain indirect exposure to the cryptocurrency market.
- Cryptocurrency ETFs: There are a number of exchange-traded funds (ETFs) that track the price of cryptocurrency or a basket of cryptocurrencies. By buying shares of these ETFs, you can gain indirect exposure to the cryptocurrency market without having to buy and store individual cryptocurrencies.
- Cryptocurrency futures: Cryptocurrency futures are contracts that allow you to buy or sell a cryptocurrency at a predetermined price on a future date. By trading cryptocurrency futures, you can speculate on the future price of cryptocurrency.
It is important to note that indirect exposure to cryptocurrencies does not offer the same level of control or ownership of crypto as direct exposure. When you buy shares of a cryptocurrency stock, for example, you are not actually buying cryptocurrency. You are buying shares of a company that owns or uses cryptocurrency. This means that you are exposed to the risks of the company as well as the risks of the cryptocurrency market.
How to Deposit Money on ETrade
There are several options for account holders to deposit money on ETrade. They include wire transfer, direct deposit, electronic transfer (for ETrade instant deposit) and depositing a check by mail. ETrade mailing address for deposits is:
Attention: Deposit Operations
c/o ETrade Financial Corporation
PO Box 484
Jersey City, NJ 07303-0484.
Your ETrade accounts can only hold funds in US dollars. If you deposit funds from another currency, there will be currency conversion, which will include conversion fees. There’s no ETrade minimum deposit amount.
ETrade fees vary depending on the type of account, the type of investment, and the specific services you use. Here are some of the most common fees:
- Stocks: E*TRADE does not charge commissions for trading stocks.
- Options: E*TRADE charges $0.65 per option contract.
- Futures: E*TRADE charges $1.50 per future contract.
- Bonds: E*TRADE charges $1.00 per bond.
- Advisory fees: E*TRADE charges a flat annual advisory fee of 0.30%.
- Broker-assisted trades: E*TRADE charges $1 per bond plus $20 commission for broker-assisted trades.
- Over-the-counter (OTC) stock trades: E*TRADE charges $6.95 for OTC stock trades.
- Transfer fees: E*TRADE charges a fee for transferring funds into or out of your account.
- Closing fees: E*TRADE charges a fee for closing your account.
- Foreign stock fees: E*TRADE charges a fee for trading foreign stocks.
You can find more information about ETrade’s fees on the company’s website.
Is ETrade Safe?
ETrade is a safe online broker that takes security seriously. It is a member of the Securities Investor Protection Corporation (SIPC), which protects your investments up to $500,000. ETrade also uses industry-leading security measures to protect your personal and financial information, including SSL encryption, two-factor authentication, and fraud protection.
In addition to its investment products and services, ETrade also offers checking and savings accounts through Morgan Stanley Private Bank. These accounts are FDIC-insured, so your money is safe. They also offer competitive interest rates, so you can earn money on your money.
Is ETrade the Right Brokerage for You?
E*TRADE is a well-established brokerage firm with a long history of serving investors. It offers a wide range of features and services, including commission-free trading on stocks, ETFs, crypto, and options, access to research and tools, and the ability to trade on a variety of devices. It also offers competitive pricing and low commissions.
However, there are a few drawbacks to ETRADE. First, its customer service can be slow and unresponsive. Second, the platform can be buggy and crash occasionally. Third, ETRADE does not offer fractional shares, which can be a disadvantage for investors who want to buy small amounts of stock.
If you are looking for a different brokerage firm, here are a few options to consider
- Charles Schwab
- TD Ameritrade
- Interactive Brokers
More Information on ETrade Online Banking
- ETrade routing number: 256072691
- ETrade on Facebook
- ETrade on Twitter
- ETrade on YouTube
- ETrade on LinkedIn
ETrade is a US online broker that offers a wide range of investment products and services, including stocks, bonds, ETFs, mutual funds, options, and futures.
How does ETrade work?
To use ETrade, you first need to open an account and deposit money. You also need a valid US ID such as a driver’s license and a valid US address. You can open your account online via the website or mobile app.
What's ETrade minimum deposit?
The minimum deposit to open an ETrade account is $0. This only applies to stocks, options, mutual funds, and ETFs.
What is ETrade Core Portfolio? Is it worth it?
ETrade Core Portfolios are a type of robo-advisor service. Robo-advisors are automated investment services that use algorithms to build and manage investment portfolios. They are designed for investors who want to invest in a diversified portfolio of stocks, bonds, and ETFs but don't have the time or expertise to do it themselves. If you don't have the time or expertise to manage your own investments, then ETrade Core Portfolios can be a good option.
How do I buy stocks on ETrade?
To buy stock on ETrade, you need to open an account, fund it, find the stock you want to buy (you can search for stocks by symbol, name, or industry), enter the number of shares you want to buy, and place your order. You can place your order as a market order or a limit order. Once you have placed your order, you can review it and submit it.
Does ETrade have crypto?
ETrade does not offer direct trading of cryptocurrencies. However, it does offer indirect exposure to cryptocurrencies through securities and futures.