There are30 branch locationslocated throughout the U.S.
Some branches are still temporarily closed due to the pandemic, but most are open by appointment only.
E*TRADE has been a staple of online trading for many decades.
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It was founded in 1982 and had its first online trade the year after.
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Though not a different brokerage account, this trading platform gives you much more at your disposal.
You will, however, pay fees for trading mutual funds, options, bonds and futures.
There are no direct fractional shares, and there is no direct cryptocurrency trading.
As of now, E*TRADE promises exposure to popular cryptocurrencies via securities and futures but nothing direct.
Its easy tolose money from penny stocks.
Custodial Account
Parents or guardians can open E*TRADEs Custodial Account for minors.
Even better, this account is eligible for the $15,000 annual gift tax exclusion.
An adult retains control of the account until the child turns 18 or 21, depending on the state.
An adult retains control of the account until the child turns 18 or 21, depending on the state.
Coverdell ESA
The Custodial Account isnt the only option for parents.
you’re free to also open an Education Savings Account (ESA) for your child.
The earnings are tax deferred, and any withdrawals forqualifiededucational expenses are tax-free.
you’re able to contribute up to $2,000 a year.
With Coverdell ESA there are no annual fees and no account minimums.
You just might better benefit from a managed portfolio, most likely a Core Portfolio.
The Premium Savings Account has no monthly fees and is insured up to $1.25 million.
This is a good option to hold funds that youre planning to invest.
it’s possible for you to also open a line of credit by borrowing against your investments.
The variable APR on the loan varies depending on how much you borrow.
The platform also offers multiple investing tools, screeners, and learning resources.
The basic E*TRADE mobile app offers all the same functionality as the website.
Other brokerage accounts make it easier to fund your account right away.
To contact E*TRADE customer support, call 800-387-2331.
E*TRADE also operates 30 branches across the country.
Heres the full list of physicalE*TRADE branches.
Below, weve spelled out what we love about E*TRADE and what we dont.
Weve provided answers to the most common questions our readers are asking about E*TRADE.
E*TRADE is trustworthy as an online broker and a bank.
Morgan Stanley, which acquired E*TRADE in 2020, carries additional insurance to protect customers.
E*TRADEs bank accounts are insured by the FDIC (Federal Deposit Insurance Corporation).
E*TRADE offers commission-free trading for stocks and ETFs.
Options trades are commission free for the Custodial Account.
You cannot, however, directly trade cryptocurrency.
But E*TRADE is far more than mutual funds and futures.
Yes, financial advisors are available at E*TRADE via phone, free of charge.
You cannot directly invest in cryptocurrency through E*TRADE at this time.
The main brokerage account through E*TRADE requires hands-on investing.
This is a great option for beginning investors.
Timothy Moore covers bank and investment accounts for The Penny Hoarder from his home base in Cincinnati.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
