E-Trade: Trading with the Online Broker

In the modern world, trading penny stocks is a lot easier than it used to be. Instead of having to go to a physical broker, you can use an online one like Etrade.

How to E-trade?

To begin trading your stocks with Etrade, the process is very simple. It takes all of ten minutes, and requires an initial deposit as mentioned, of $500. You can open your account online, which makes it extremely easy to do. You can elect to use your bank account to keep your trading account topped up with funds.

After opening your account, you are ready to start trading! Access the e-trade resources using the “Research” tab on their platform, and start trading your penny stocks.

Here are a few key features of the online brokerage that has made trading far easier or everyone:

  • Friendly Platform

The trading platform Etrade uses is extremely user friendly. It is easy to learn and use, and offers easy search and trading methods.

  • Competitive Pricing

The trading fee asked by Etrade is just $9.99 per stock trade or that plus 75 cents for an options contract. These are some of the better prices on the market.

  • Stock Quotes for Free

Etrade sends its stock quotes to all customers who have an account for free. While some broker charge to stream quotes, this site does it for nothing. This is very useful.

  • Forex/Future Trading

Unlike most other brokers, eTrade allows for traders to trade in Forex and futures.

Before rushing over to open an account, here are some of the advantages and disadvantages of using Etrade.

The Advantages

  • Best Trading Tools

Etrade offers some of the highest rated trading tools out there. They proved extensive educational resources, as well as being very user-friendly.

  • Great Mutual Fund Deals

For those investors who are looking to set up a mutual fund, Etrade offers some pretty great prices and options. Some of their funds have waived their transaction fees, and there are over 8000 funds available.

  • Great Customer Service

Etrade has a 24/7 live customer support service. You can call them up regarding any inquiries or complaints you have. The customer service is constantly highly rated.

  • Great Initial Minimums

Etrade has a very low minimum deposit to open a trading account. A standard account is just $500 and a margin account is $2000. These are some of the lowest prices on the market.

  • Foreign Markets

Etrade has access to the stock exchanges in over 7 countries, allowing for foreign exchange and trading among other companies out of the country.

The Disadvantages

  • Commission Structure

The way commission is charged on trades at Etrade is different, and relatively a little more difficult to deal with, than other brokers. However, their prices can be negotiated if there is an issue.

  • Pro Option is Hard to Get

Etrade Pro is a far more comprehensive trading platform, but you can only get it if you are a very active trader.

This is all. So go ahead and try it out yourself. You can follow them on twitter and facebook as well, for instant communication. Make sure you do enough research before making investments. Good luck!