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Was just wondering who here uses them? I was thinking of opening a 2nd account apart from my Choicetrade account... I like that you can trade stocks in 6 world markets with E*Trade (Japan, Hong Kong, Germany, UK, France and Canada) in the local currencies... More bang for our EURO in other words lol because the USD sure isn't cutting it lately...
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Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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posted
I have an account with them. Only things I remember specifically good or bad is that I don't think they charge extra for over 1,000 shares (like Schwab and Fidelity and maybe B of A do), or stocks under a buck (like Scottrade), and that I actually got filled fairly regularly at my bid and ask on HVLN when it was a grey sheet. Flipped it like 6 times buying at .25 and selling at .35 if I recall correctly.
Have never used them to trade foreign stuff.
Can't say there'd be any harm in you opening an account there.
Let me know if there's anythign you want me to try out for you with my account before you decide.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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I would, but I just pulled almost everything out to consolidate my accounts a bit. I got $86 in that account now, and $26 of it would go to commission. Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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IMO, They have really good research and portfolio analysis tools and a pretty user friendly interface and I've never had a problem getting a hold of someone at Etrade if I had a problem or question about my account.
I will say they messed up one time and charged me 20$ for a check that had been written by someone else whose account number was 1 digit different than mine (typo) but they fixed it right away and gave me a few free trades for my troubles.
Commissions are a little steep if you don't trade very often, but I believe if you make at least 4 trades a quarter its 9.99/trade with no hidden fees.
Also, if you make no trades in a given quarter, they charge you a "maintanence" fee of like 20 bucks. In addition, if you have a penny stock that changes ticker symbols they charge you a 20 dollar "service fee".
Trade executions seem pretty fast but I have only ever used Etrade so I have nothing to compare it to. Also, certian stocks get "flagged" for various reasons, and you have to call Etrade to execute a trade (sometimes they won't even let you over the phone) which is a big pain, but I think most of the major online brokers do this.
Probably my biggest negative about Etrade IMO is their news service. PR's for companies are usually late to show and sometimes don't even show up at all. I could understand if were we talking about PK or OTCBB stocks, but sometimes it takes a day or two for news regarding NYSE and AMEX stocks to be posted.
However, I get all my PR's from another service (equityfeed) so for me it isn't a big deal. All in all I would say I'm pretty satisfied with Etrade. I've never bought a stock on a foreign exchange tho, so I can't help you there, sorry.
NR.
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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