For general trading and investing accounts require a minimum opening deposit of $500. There is no minimum balance to open most
individual retirement acbcounts (IRAs) or educational
accounts. However, IRA CDs require a minimum opening balance of $1000.
Worst broker in US imo and also for many others seen here. I had 100,000+ balance in e*Trade securities at one point trusting them blindly. But my old school way of checking bank reconciliation helped me catch those thieves. I managed to see a difference of $999.00 difference in balance after making a transaction. The funny thing was the transaction amount was accurate but calculation was 999 bucks short. I mean 99% people would fail to catch this one. When I complained afterwards, they apologized and refund after 2 working days but what if I don't catch it? It's very hard for me to check everything as it takes a lot of time.
A fellow guru trader recommended e-trader - he just signed up as well. Long story short, they took my money and now I have limited access to my account. I spoke to 2 representatives yesterday and today and they keep asking me the same question, re-assuring me my account should be okay EOD, and it still has not. I will not be with this company for too long, I could be working right now with another broker but when you block me from my money, we have a problem. Stay away from e*Trade to save yourself heartache, financial loss and pain. Yes, time is money.
I had a very bad experience at ETRADE and I would not recommend it to anyone. I opened a Managed Rollover IRA account. It was doing very poorly so I tried to talk to the account manager to put it in a different fund. I couldn't get him on the phone and he didn't return my calls. After several attempts I finally was able to get it changed. It did even worse. I then decided to move the money to a different company. I called them and asked them to convert my account to cash for the transfer. After two weeks they hadn't done it. I called again. I called again. They still hadn't done it. It took a month of calls to get them to do this. Terrible performance, worse customer service.
I have been an eTrade customer for many years. I have a brokerage, checking, and savings account with them. I've had some problems with them in the past putting security holds on my account, but in the last few months, it's become ridiculous. In just the last 30 days alone they've put a hold on my account four different times! I tried to buy tires at Walmart and my card declined. I called eTrade and they said the purchase triggered a fraud alert and they froze my account. A few weeks later I tried to buy my wife a washing machine for Christmas at Lowes and again my card declined. I called eTrade and they said the purchase triggered their fraud alert and they froze my account again. Four times now in just the last 30 days. It's horrible to have your card decline when you know you have plenty of money in your account. I'm in the process of closing my accounts and moving them elsewhere.
Pros: Many free services, trading tools, website
Cons: Stock commissions are expensive
I have been Etrade client for many years and have few complaints. They offer so many tools for free. Many NTF mutual funds and just $20 for non-NTF fund.
"Among the first brokerages to go online, Etrade began as a higher-priced firm, aimed at investors who were willing to pay a
premium for its outstanding
investing tools and research resources. Since then, the company has lowered its prices to compete more closely with discount brokerages
, while still
offering an impressive selection of educational features...For very frequent traders, or for buy-and-hold investors, Etrade’s commissions or fees can
begin to add up. But for a semi-active investor who can take advantage of Etrade’s resources, the company is a great and dependable online brokerage."
"While ETRADE may not have the cheapest trades
, the broker provides an easy-to-use website, a high quality mobile experience, and excellent research that will
satisfy both casual and active investors."
"Etrade is a great option to consider if you’re looking for a place to manage your investments. They do have a solid amount of offerings and have
high quality tools to use. Etrade offers a good number of mutual funds and 80+
to choose from. The other thing I like about
Etrade is their maturity allows them to offer a number of different things you won’t be able to find at most other brokerages."