What makes it great: E*TRADE offers 4,400+ no-load, no-transaction fee (NTF) mutual funds. That’s one of the largest lists of free funds that you’ll anywhere today. E*TRADE’s has a beginner-friendly platform as well as a robust trading platforms, called Power E*TRADE Pro. Both platforms are easy to use on mobile.
As a full-service brokerage, E*TRADE offers investments in stocks, ETFs, options, bonds, and futures. You can choose to open a regular, taxable brokerage account or an IRA, Individual 401(k), or Profit Sharing Plan. And E*TRADE also offers a robo advisor service, called E*TRADE Core Portfolios that’s available to clients with balances of at least $500
Potential drawbacks: It’s honestly hard to find things to complain about with E*TRADE. But if we’re being picky, the lack of support for fractional share trading disappoint some traders, especially those with smaller account balances. Also, you’ll need to look elsewhere if you’re wanting to trade crypto in addition to stock market assets.
Commission and fees: Stock, ETFs, and options trade commission-free at E*TRADE. There’s a per contract options fee that start at $0.65 but reduces to $0.50 if you make more than 30 trades per quarter. Futures cost $1.50 per contract and E*TRADE’s Core Portfolios come with an advisory fee of 0.30%.
- Comprehensive trading platform
- User-friendly interface
- Accommodates investors of different levels
- No fractional share trading
- Oriented towards active traders for options