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E*TRADE Financial Corporation is a financial services company headquartered in New York City.
It is an online discount stock brokerage firm for self-directed investors. Investors can buy and sell such securities as stocks, bonds, options, mutual funds, and exchange-traded funds via electronic trading platforms, or by phone.
E*TRADE Financial also provides banking services to retail investors, such as sweep deposits and savings products.
Founded in 1982, E*TRADE Financial has approximately 4,100 employees and 30 retail branches across the United States.
E*TRADE Financial has long been one of the most popular online brokers. It was acquired by Morgan Stanley in February, 2020.
The company's $0 commissions and strong trading platforms appeal to active traders, while beginner investors benefit from a large library of educational resources.
It is regulated by top-tier financial authorities like the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
*Available on iOS and Android.
Both are free and available to all customers, with no trade activity or balance minimums.
E*TRADE web offers free streaming market data, free real-time quotes, live market commentary, analyst research stock screeners and more. From the dashboard, you can track your accounts, create watch lists, view market data and make trades, including complex options strategies.
And for truly active traders, there's Power E*TRADE, the result of the company's acquisition of OptionsHouse several years ago.
The web platform offers real-time data, more than 100 technical studies, over 30 drawing tools, streamlined trade tickets, customisable options chain views and trading ladders.
They range from simple to complex and include:
Here is a break down of the detailed pricing structure:
1. Stock and option trades:
|Stock and options trades
(US Exchange-listed stocks)
|Options contract fee||$0.65||$0.50|
|Dime Buyback Program||$0 contract fee||$0 contract fee|
2. Exchange-traded funds (ETFs):
|U.S. Treasury auction||$0|
|U.S. Treasury secondary trades online||$0|
|Online secondary trades||$1 per bond (minimum $10, maximum $250)|
|Broker-assisted trades||Online secondary pricing plus $20 commission|
|Through fixed income specialists||Net yield basis|
|New issues (except Treasury auction)||Offering price includes a selling concession|
|Futures contract commission||$1.50 per contract, per side + fees (excluding bitcoin futures)*|
*Commissions for bitcoin futures products are $2.50 per contract, per side +fees.
5. Mutual funds:
|No-load, no-transaction-fee funds||$0|
|Transaction fee funds||$19.99|
|Load funds||See prospectus for amount of load|
|Early redemption fee for no-load, no transaction fee for Mutual Funds||$49.99|
6. Margin rates:
|Debit Balance||Margin Rate|
|$1,000,000 or more||5.45% (1% below base rate)|
|$500,000 to $999,999.99||6.45% (Equal to base rate)|
|$250,000 to $499,999.99||6.95% (0.50% above base rate)|
|$100,000 to $249,999.99||7.45% (1.00% above base rate)|
|$50,000 to $99,999.99||7.95% (1.50% above base rate)|
|$25,000 to $49,999.99||8.45% (2.00% above base rate)|
|$10,000 to $24,999.99||8.70% (2.25% above base rate)|
|Less than $10,000||8.95% (2.50% above base rate)|
7. E*TRADE Personalised Investments:
|Account market value||Flat annual advisory fee|
|Account market value (minimum of $25,000)||Blended annual advisory fee|
|Next $1,000,000 and more||0.65%|
|Account market value (minimum of $150,000)||Blended annual advisory fee|
|Next $5,000,000 and more||0.95%|
Fixed Income Portfolios
|Account market value (minimum of $250,000)||Blended annual advisory fee|
|Actively Managed Portfolios||Laddered Portfolios|
|Next $1,000,000 and more||0.65%||0.35%|
8. Retirement accounts:
|Early withdrawals taken before age 59½ (premature distributions)||$25|
|Excess contribution removal||$25|
NOTE: All fees will be waived if combined E*TRADE Securities account balances total over $100,000 or you have placed 30 or more trades in the last quarter.
Additional charges like IOF, activity fees and special request fees may apply based on your individual circumstances.