E*TRADE Short Review
As with any investment option, there are definitely some pros and cons here. In my opinion however, the pros definitely outweigh the cons for the right investor. So, what are they?
E*TRADE Pros – They have a great toolbox of goodies that make investing easy. I’ve been around the block a time or two and I have to say, E*TRADE has some of the best options-specific tools available on the market today! These tools definitely come in handy when complex orders are at hand and, rightfully so, that’s just what they were designed for. When it comes to investment technologies, it’s tools like these that bring investments to new heights.
E*TRADE Cons – They’re definitely not perfect as you’ll find goes with most investment tools. The truth is, I don’t think that E*TRADE was really designed for a small time investor. Although it can be used effectively by an investor that makes few trades per quarter, the fees would be quite a bit higher than the average investment platform. If you make less than 150 trades per quarter, each trade is going to cost $9.99 which, is a bit high for the industry. But, if you make at least 150 trades per quarter, you will see a steep discount reducing the cost to $7.99 per trade, the low end of average for the industry.
The Bottom Line – E*TRADE is a great financial tool if used by the right person. The bottom line is that there is no one size fits all option when it comes to finances whether you are investing, dealing with debt, working with credit scores, etc… every financial position is unique. If you make quite a few trades a quarter, this may definitely be a great option for you. If not, you can still benefit from E*TRADE but, it’s up to you to make the decision if the advanced tools are worth the added cost.