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lindagray

E*TRADE - Best for Active Traders

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E*TRADE - Best for Active Traders

Why we chose it
No commission fees

Following the lead of financial disruptors like Robinhood, E*TRADE has eliminated retail commissions for online U.S.-listed stock, ETF  (Exchange Trade Fund), and options trades, effective October 7, 2019. This is a huge boon to active traders and beginner investors within the U.S. Previously, its commission fees started at $6.95 (discounted to $4.95 if investors made more than 30 trades per quarter), which was on the higher end of the spectrum compared to Ally Invest, Charles Schwab, and Fidelity.

Education-heavy platform
New investors need two things from their online stock trading platform: an easy learning curve and lots of room to grow. E*TRADE has both. Its platform boasts a library of educational videos, articles, and webinars for each type of investor. Once you’ve mastered the fundamentals, read up on market news, reports, and commentary from E*TRADE analysts. You can also take advantage of one-on-one assistance: Branch appointments are free to book, and online chat tools and 24-hour hotline are there to guide you from anywhere in the world.

No minimum account balance
As of December 2019, E*TRADE does not require an investment minimum for brokerage accounts. Previously, its required account balance was $500 – which was lower than traditional brokerages but still more than a novice would like to throw in.

reviews.com

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