For clients looking to simply track their favorite stocks and holdings, the ETRADE MarketCaster is the broker's real-time streaming quotes tool, which pops up as a new window when launched. ETRADE Pro has all the bells and whistles an active trader could want, with snap grid functionality for quick and easy customizing.
While ETRADE Pro is impressive, the platform has slowly fallen behind its competitors in recent years.
One other note about Pro Elite status: Alongside free access to ETRADE Pro, Pro Elite also gains access to the Elite customer service team for service and trading.
As the first broker to really push mobile, ETRADE continues its dominance, finishing first overall again in our rankings.
The only area in which ETRADE really falls behind is charting, where only two indicators are supported. Minor gripes aside, with 43 variables being assessed for mobile trading, ETRADE earned 92% of total possible points.
Alongside trading, ETRADE also offers basic banking services, including checking accounts with no ATM fees and debit cards.
Whether you’re an active trader, a new investor, or just someone looking to manage a retirement portfolio, ETRADE is a dependable, full-service broker that impresses all investor types and gives its competitors a run for their money. In Q2 2010 ETRADE did away with its ill received account service fee of $40 per quarter which, while rare, could be assessed if certain conditions were met. International Trading - ETRADE also offers international trading in Canada, France, Germany, Hong Kong, Japan, and the United Kingdom.
The customers ETRADE targets are known as Type E*: investors who are confident, independent, yet willing to ask for help when they need it. ETRADE may not be the least expensive on the block, but the company continues to innovate with new tools and experiences for clients. In the broker space, though, most often what you pay for is what you get, and ETRADE's well-rounded offering offsets its higher rates.
We’d love to see ETRADE add a trade ticket into its site-wide footer quote bar, along with real-time streaming quotes so clients don’t have to rely so heavily on MarketCaster, the broker’s somewhat outdated real-time streaming quotes applet. Access to the four providers is strong and something not found with discount brokers; however, compared to its closest competitors, ETRADE falls short as Charles Schwab, Fidelity, and TD Ameritrade all provide access to at least six.
Access to ETRADE Pro requires Pro Elite status, which means making at least 30 stock or options trades per quarter or having a portfolio balance of $250,000. Pro supports some 20-plus tools, including streaming live CNBC TV, a real-time strategy scanner, several options tools, advanced charting, real-time sales, and level II quotes, among others. Compared with industry leaders, ETRADE Pro lacks depth in several key areas: options capabilities, alerting functionality, and technical studies support. ETRADE was the only brokerage to allow clients to compare their portfolio performance against the overall market averages (a nice touch) and had a slew of other features few other brokers offer: CNBC TV, level II quotes, barcode scanning, and third-party ratings, among others. Most recently, the move away from the iconic baby commercials has ETRADE focusing on its core clients, Type E*. Despite these struggles during the worst financial crisis in US history since the great depression, ETRADE’s trading experience has stood strong. Note that ETRADE's advanced trader platform, Power ETRADE Pro, is free if atleast 30 trades are made each quarter or if there is $250,000 in total assets.
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