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E*TRADE IRAs Review


ConsumersAdvocate.org Rating: 4.4 / 5 (Excellent)
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E*TRADE, an online financial corporation, was originally founded as a discount brokerage in 1982 in Palo Alto, California. E*TRADE offers trading services, brokerage accounts, retirement planning, and traditional banking accounts. With a presence on the internet since its earliest days, E*TRADE is now a full-featured financial services company, offering brokerage accounts to retail customers and advanced trading software for serious day traders.
 
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How is E*TRADE rated?

Breakdown

0.0/5
IRA Types
0.0/5
Investment Options
4.5/5
Account Features
4.5/5
Fees and Discounts
4.5/5
Reputation & Customer Support

Overall Rating: 4.4 / 5 (Excellent)

E*TRADE has been in the online discount brokerage business ever since the industry was born. While they have updated their offerings and have bank accounts to go along with their brokerage services, they face steep competition not only from other brokerage houses, but from traditional banks that now offer IRAs and brokerage accounts. E*TRADE excels in providing research tools and an easy-to-use trading interface for the beginner investor, as well as a separate sophisticated trading platform for the experienced day-trader. Although E*TRADE is more than experienced in serving their customers over the phone and online, if a customer lives near one of their 30 financial centers, they have a very convenient place to have their questions answered by an investment professional.

E*TRADE Account Features

Account Features - 4.5 / 5

E*TRADE offers the most popular IRAs that investors look for and also provides resources so that consumers can have assistance in choosing the type that is best for their financial goals and income. Managed accounts where customers work with an advisor to help achieve financial goals are available to accounts with balance minimums and annual service fees. Research tools to analyze individual stocks, bonds, mutual funds, and ETFs are sophisticated, but easy to use. With a mobile app available on both iOS and Android, investors can trade, get market updates, receive stock news, transfer funds between accounts, and deposit checks if they have the checking account component.
Types of IRAs
Rollover IRA
Roth IRA
Traditional IRA
Account Minimum
$0
Minimum Balance Requirement
$0
Mobile App
Yes

Investment Options

Mutual Funds
Index Funds
Stocks
Bonds
Money Market Accounts
CDs
ETFs
Options

Advisors

Core Portfolios: a professionally managed portfolio of leading exchange-traded funds (ETFs) customized to your investment goals available with $5000 minimum and a 0.30% annual advisory fee.

E*TRADE Fees and Penalties

Fees and Discounts - 4.5 / 5

E*TRADE's schedule of fees is in line with what we have seen in much of the industry. For IRAs, there is no opening deposit minimum and no annual maintenance fee. IRAs are subject to particular restrictions for withdrawal by law, so the penalties at E*TRADE are nearly identical to IRAs at other brokerages. E*TRADE has a variety of ETFs that have no commission or trading costs, as well as no-load, no-fee mutual funds.
Management Fee
$0
Trading Fees
$0
Miscellaneous Fees

E*TRADE Financial Strength and Reputation

Reputation & Customer Support - 4.5 / 5

As one of the original online brokerages, E*TRADE has extensive experience in handling customers remotely via phone, online chat, or via secured messaging; in addition, E*TRADE has 30 physical branches in 17 states, providing customers near one of their financial centers with person-to-person assistance. The brokerage is in stable financial condition with investors' assets protected in the SIPC, while customers who have funds in E*TRADE's bank are protected by FDIC.
Year Founded
1982
Standard & Poor's Financial Rating
BBB
FDIC Member
Yes
SIPC Membership
Yes
BBB Rating
A-
Consumer Financial Protection Board (CFPB) Complaints
214
Date Collected
2020-03-03
Live Help 24/7
Yes
Customer Support Hours
24/7

Contact Methods

Phone
Email
Chat
Social Media
Text

Company Profile

Full Name
E*TRADE IRAs
Company Website
https://us.etrade.com
Headquarters
11 Times Square, Fl 32, New York, NY, 10036

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Top Rated
Our Partner

$0 commissions and no management fee

  • Provides 1% cash back with M1 Plus
  • Allows users to buy fractional shares
  • Insured by the SIPC and the FDIC
  • Offers over 80 expertly curated investment portfolios for beginners
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