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Friday, July 30th
If you like the idea of having an online stock broker who was responsible for executing the very first individual investor electronic trade over 30 years ago, E*TRADE is that company.
At the time of our review, E*TRADE offered up to 500 commission-free trades and up to $2500 in cash credit to investor accounts. In order to qualify, you had to deposit or transfer at least $10,000, with the highest rewards offered for accounts of $1 million or more. Or, if you prefer to start small, you can make the minimum investment of $500 and get stock trades at $6.95 (fewer than 30/quarter) or $4.95 (30+ per quarter).
E*TRADE has all three types of stock trading available: self-directed, assistance from financial consultants, or professional portfolio management. Customers report receiving excellent customer service with all 3.
Clients also have positive things to say about E*TRADE 's trading platform. You should have an easy time using the OptionsHouse platform, either on your browser or tablet, to research and trade stocks/options/ETFs/futures. This platform is geared towards active traders, however, so you may find yourself more comfortable with their basic web platform if you're looking for information and tools focused on less-frequent stock trading.
Although E*TRADE has name-brand recognition from its long-standing history as an online stock broker, in some ways they've been passed by the competition within the basic investor/consumer marketplace. When compared with online brokers that charge low or no fees per stock trade, and/or who require no minimum investment, E*TRADE comes up a little short. But, for overall trustworthiness and solid tools for investors, especially active traders, they're still a strong contender.
Whether you consider yourself an avid investor or a beginner just starting to look into the stock market, it's easy to get overwhelmed by all of the stock trading options. Although some people still use traditional stock brokers, many people have found they can save a lot of money by trading stocks themselves.
Besides significant cost savings, another great advantage to executing your own transactions is that you can avoid the time and energy necessary to deal with "professional" stock brokers. Many of these individuals try to convince you to buy or sell stocks, because they earn a commission every time you make a transaction. With online stock brokers, you never have to talk to any salesmen.
And, of course, with fluctuations in the economy, and subsequent rises and falls in stock prices, some people panic and pull out significant investments - leaving the door wide open for others to take advantage of big opportunities to buy low and hopefully sell high later.
Of course, the best online stock brokers do have the option to work with a consultant if you choose. Especially if you're just starting to learn about investments, you may feel more comfortable knowing you can access an expert if the need arises. These services may be included, or you may have to pay for them a la carte.
So, when choosing the right online stock broker for your needs, how do you know which one is best? Before you jump in and start buying up your shares in Apple or Coca-Cola, here are some factors to keep in mind:
TopConsumerReviews.com has reviewed and ranked the best online stock brokers available today. We hope this information helps you choose the right broker for your stock buying and trading needs!
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Fri, 30 Jul 2021