E*TRADE provides a well-rounded offering to its users, backed by a robust trading platform and easy to use website. In this E*Trade review, we will show you all the stats you are interested in and more. A good choice is always an informed choice.
E*TRADE is an electronic trading platform that is solely created for the trading of a financial instrument such as stocks, exchange-traded funds, mutual funds, fixed income investments, future contracts, and options. The platform also carries out certain other financial assisting services that make it unique and attractive to active and novice traders alike.
These services include loan administration benefits for students, stock ownership plans for employees, advisory services, online banking, cash management, and general margin lending.
Users of E*TRADE enjoy quite a lot of packages that are backed up by a rich trading platform and user-friendly website. E-Trade is also noted to offer $0 commissions and access to educational resources that are very comprehensive even for beginners. The platform also boasts of large mutual funds you can select from and portfolio-building tools.
Popularity
Without an iota of doubt, E*TRADE is one of the most popularly used online brokers. One of the major reasons for this is because of the $0 commission the company charges, this makes it very attractive to active traders. The $0 commission is also backed up with user-friendly trading platforms.
Another significant reason for its popularity is that the platform friendly to novice traders who just started trading especially with its rich library for educational resources.
This are some of the reasons why E*TRADE has a strong market notoriety and can arguably be said to have the best trading platform with an exceptional user experience. You can go through the stats below to ascertain these claims.
User Rating
It is no longer news that E*TRADE massive users and customers, and as expected have a lot of ratings as a result of this. These ratings are mostly mixed, ranging from good to bad. This is because the more customers a company has, the harder it becomes to keep them all satisfied.
Despite this obvious fact, E*TRADE is doing far above average when it comes to customer ratings. So sometimes, you might just have to ignore comment and reviews from people who have experienced downtimes and focus on comments about the trading platform itself.
E*TRADE has a total of 35 reviews on Trustpilot and 107 on SiteJabber with just about 20% of positive reviews which you shouldn’t take to heart as ratings are mostly from people experiencing downtimes. The most common compliment in ratings is that the trading platform is a fantastic one and is fast and reliable.
One of the major complaints seen in rating is in the delayed response of the customer support which sometimes can really be terrible. Despite this, the overall general rating still is around 4.15/5 when considering 130,000 reviews for app ratings.
Background Information
E*TRADE has a long history of consistency of successes in becoming who they are today. The history started in 1982 when William A. Porter and Bernard A. Newcomb co founded TradePlus with $15000 in Palo Alto, California.
Porter and Newcomb later founded E-Trade Securities, Inc in 1991 with startup capital obtained from Tradeplus with several hundred thousand dollars of start-up capital from TradePlus. As of June 30, 1996, E-Trade already could boost of 73,000 accounts while processing about 8,000 trades per day and $15 million in quarterly revenue.
Presently, Mike Pizzi who has been working for over 12years in the company as the CFO and the CRO became the CEO of E-Trade. The estimated annual revenue of E*TRADE is at $3.145Billion with over 4,000 employees.
| Company public/private | Public | https://en.wikipedia.org/wiki/E-Trade |
| Revenue Data | $3.145B annual revenue for 2019 | https://www.macrotrends.net/stocks/charts/ETFC/e*trade-financial/revenue |
| CEO and bio | Mike Pizzi – Over 12 years working in the company where he was also the CFO and Chief Risk Officer | https://www.linkedin.com/in/michael-pizzi-9a8065b3/ |
| Number of employees | 4,000 in 2018 | https://en.wikipedia.org/wiki/E-Trade |
| Notable investors (private companies) | E*TRADE was acquired by Morgan Stanley for $13B on Feb 20, 2020. | https://www.crunchbase.com/organization/e-trade |
Security
E*TRADE has not taken the security of their trading platform lightly. The company has ensured that all their trading platforms has necessary and topnotch security systems that will keep you rest assured that your money and other vital information are safe.
E*TRADE offers additional security asides the standard unique login information and password, by leveraging on the HTTPS certificate encryption to secure the connection between your log in device and the E*TRADE trading platform. The company uses a 128-bit SSL encryption to ensure you are safe all the time.
You can check the information below for a more detailed fact on E*TRADE security protocol.
| Query | Answer | Reference URL |
| HTTPS Certificate | Yes | https://us.etrade.com |
| 2FA ? | Yes | https://us.etrade.com/security-center |
| Device monitoring? | Yes | https://us.etrade.com/security-center |
| New device extra security? | Yes | https://us.etrade.com/security-center |
Fees & Offering
E*TRADE fees and offering are one of the most attractive fees you can get from any trading platform. E*TRADE literally allows traders and investors to access their investment platforms and resources at no cost at all. The charges on each transaction made by traders are also really low. More so, E*TRADE allows a minimum deposit of $0 which means that novice and beginner traders will also feel welcome on E*TRADE platforms.
Trading App
One of the most amazing things you would observe is that there is a reply to reviews of users as they drop their reviews concerning the trading app. This shows that E*TRADE is trying to have a good report on user experience to know how to better optimize their services.
It is also important to know that E*TRADE has two mobile apps which are freely available to users who can download based on suitability. The type of device a trader has will determine which format to download.
These two apps are available for Android and the iOS. E*TRADE has two free mobile apps, available for iOS and Android. There is a unique benefit attached to downloading these apps. You would have access and be in charge of your account on the go; this means you can place orders and get live news and quotes. E*TRADE mobile app also allows advanced features like options trade, ETF screeners and Stock screeners.
Final conclusions: E*Trade is the right option for many
Many people would readily recommend E*TRADE to people as the right option when it comes to trading and options. Their $0 commission has made the platform one of the most sought-after trading platforms for traders. Besides, the ease of trading on the platform, coupled with the availability of numerous educational resources have made E*TRADE a popular and smart choice among both beginners and active traders. However, E*TRADE needs to look into offering cryptocurrencies and fractional shares so that they can diversify their offerings and catch the cryptocurrency market.