Detailed E-Trade Brokerage Review:
E * TRADE provides services to individuals, giving them access to financial markets. Trading is possible with any of the numerous assets: currency pairs, CFDs, indices and bonds, cryptocurrency.
The company began its activities in 1982 in California. From the first years of activity, E * TRADE has provided clients with some investment proposals. Today, the company combines a financial partner and a brokerage company with the ability to generate income from trading in financial markets.
General information about E * TRADE
• Minimum deposit – $500;
• Availability of a regulator – yes, U.S. SEC;
• The address of the central office in New York, 1271 Avenue Americas, 14th floor;
• Trading platforms Power E * TRADE, E * TRADE Pro;
• The language of technical support in English.
Consider the types of trading accounts
When registering, the user can choose one of the several types of accounts. Through one account, you can connect a trading account, corporate account, affiliate account, and several others. A trader who is interested in forex trading cannot choose from different account options. He will be offered uniform trading conditions. In particular, the minimum deposit is set at $ 500, and the minimum transaction volume is 0.01 lot. Currency accounts can be the US dollar, and the Japanese yen, and the British pound sterling, and the euro.
Regardless of the selected account, clients are additionally provided with the services of a personal manager. Since the experience of E * TRADE exceeds 30 years, specialists have accumulated enough skills in the formation of high-quality service to serve private and corporate clients in the financial sector.
Trading platforms Power E * TRADE and E * TRADE Pro
The company’s main trading platform is Power E * TRADE. It is available in desktop format. The broker decided to move away from the traditional Metatrader, allowing trying innovative solutions on a new platform. More than 50 analysis tools are available in it, all kinds of forecasting tools on the main chart. For each asset, the user can set a risk indicator using independent data.
Power E * TRADE is also available for mobile devices.
An alternative to the above platform is E * TRADE Pro. The platform is also available through the site. But it is made in analogy with a simple investment service, where fewer functions are available.
Through the trading terminals mentioned above, it is forbidden to use scalping, connect third-party robots. For violation of these rules, the user account may be blocked. The company brings all transactions to the interbank market, so the deadline for executing orders may be delayed from 1 second.
Another broker platform is OptionsHouse. With its help, you can trade options.
Fees and collection from E * TRADE
Although the company considers itself to be a discounter, for the majority of transactions, fees are set. If a trader opens more than 30 orders per quarter, then the commission per lot for most asset groups is 95 cents. The commission is not charged for transactions with currency pairs. If less than 30 orders are opened in a quarter, then for each transaction more than $ 6 commission is charged (for options).
For the withdrawal and replenishment of the account, nothing will have to pay extra.
News and Analytics
Use news in forecasting and trading with E * TRADE. For example, through a trading terminal, you can subscribe to reputable news sources, such as Bloomberg or Briefing. The user can independently sort the sources, select news by theses and categories.
The target audience
The company provides a wide range of services. It is possible to choose E * TRADE both for options trading and for trading in stocks, currency pairs, futures. Considering the format of trading platforms and analytics services, the broker’s target audience is already experienced participants in financial markets who understand how analytics and all kinds of services work. Therefore, the broker E * TRADE does not provide direct trade training.
Users identify only one major drawback - high commissions with an insufficient volume of transactions. This is another signal in favor of the fact that the company needs strong and active clients. Otherwise, the contents of the bill may become too expensive. Of the advantages, it is possible to single out practically unlimited possibilities for analysis and forecasting, several trading platforms, and a good reputation of the company.
Technical support is provided to customers, but it is focused on English-speaking users. Therefore, it will be difficult for people in Asia and the CIS to perceive information - the company is focused on Europe and the United States (American citizens can open accounts).