ETrade has decided to exit the forex business to focus on core securities offerings. It is no longer accepting new forex account applications. ETrade is one of the most trusted names in the financial services industry. Established in , it currently has 4. ETrade gives you the ability to invest in many markets and access financial products not provided by many other forex brokers.
This includes a wide selection of options, futures, mutual funds, ETFs, stocks, bonds, retirement account and managed portfolios. Rather, it sends its customers to FXCM, acting as an introducing broker rather than your dealer.
Maximum leverage is set at ETrade has a high number of miscellaneous charges including fund transfer fees, account transfer fees, paper statement fees, etc ETrade is a good choice for US-based traders who are primarily focused on securities trading. However, non-US forex focused traders may have better options overseas. ETrade is a full service securities brokerage who offers securities from 77 international markets.
It allows you to directly purchase a wide range of stocks, bonds, ETFs and mutual funds. Other forex brokers only offer CFDs on a limited number of popular securities. Being able to directly purchase securities through ETrade means your investment universe will be significantly larger. ETrade allows you to execute sophisticated multi-leg option strategies in a single order.
They also provide detailed analytics greeks for you to understand and manage the risk of your option trades. Although ETrade is not a forex specialist, you can still trade over 50 forex pairs via FXCM, a number comparable to other forex brokers. They offer up to Although futures trade sizes are larger than retail forex CFDs , units vs 1, units , the transaction costs tend to be lower. Well capitalized customers who prefer not to trade forex via FXCM can open a futures account for currency trading instead.
ETrade periodically provides exclusive market commentary from its internal investment analysts. ETrade offers a number of stock, mutual fund and bond screening tools to help you filter down the securities to invest in based on your specific criteria.
They also provide sophisticated portfolio management tools for you to analyze the risk, diversification and projected income of your entire portfolio. Courses modules are labelled by level of difficulty to help you select the right one to take. They only to state they will be zero commission with all costs embedded in the spread. Prospective customers should keep in mind that spreads will need to be wide enough to compensate both ETrade as introducing broker and FXCM as your dealer.
For cost sensitive investors, ETrade also offers commission free trades on 80 of the most popular ETFs as well as no load no fee mutual funds. Given the high regulatory capital requirements and strict regulation in the US, trading terms offered by US brokers tend to be less competitive than global counterparts.
ETrade has pretty high account minimums compared with overseas brokers. Payment options include wire transfer, check, ACH transfer or brokerage transfer. As with other US brokers, regulation prohibits account funding with a credit card.
Etrade does not offer the forex industry standard software, Metatrader 4. ETrade is a browser based platform which does not require any download. You can receive streaming quotes, place trades and access all your ETrade accounts via this portal. ETrade has a number of tools to help you manage all your assets including a graphical view of accounts, portfolio profit and loss and retirement planning calculators. You also have access to real time streaming quotes level 2 , CNBC TV, powerful charting technology, strategy back testing tools and a dedicated support team.
It allows you to manage your account on the go, place trades and receive real time market information. You can stay in touch with the markets by accessing CNBC TV, educational videos, analyst reports and receive real time smart alerts via the app.
ETrade mobile also allows you to take care of bill payments and check deposits. With the iPhone version of the app, you can log in with just your thumb print for added convenience. If you are located in the US, ETrade has a number of branch offices where you can get in person advice from financial consultants. ETrade is a blue chip financial services company that has been in business since As a NASDAQ listed public company, ETrade is required to periodically produce audited financial report, making its financial situation transparent to the investing public.
Despite having a global presence, it primarily focused on its US customers. As a US bank entity and broker dealer, ETrade is subject to some of the strictest regulations with respect to capital requirements and handling of client monies.
ETrade was fined by SEC in for facilitating the re-sale of unregistered microcap stocks and in for f ailing to document and verify identity of its customers. While these are serious compliance issues, they do not directly endanger customer assets.
ETrade recognizes the importance of internet security and uses Norton Symantec to secure its online communications and transactions. In the unlikely event of a security breach, ETrade provides a zero liability guarantee to compensate customers for unauthorized trades, payments and fund transfers. They also provide detailed analytics greeks for you to understand and manage the risk of your option trades Although ETrade is not a forex specialist, you can still trade over 50 forex pairs via FXCM, a number comparable to other forex brokers.
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