Broker Rundown: E*TRADE
Love Them Or Hate Them
Brokers. People either love them or hate them, but rarely do you find someone tepid on the topic. The Options Insider, ever curious about the state of retail brokerages, thought it would be interesting to do some comparison shopping. We hit the Internet and set to work comparing online brokerages. Over the next few days, we'll post our findings so that you can see if you're paying more than you should, or if there is a firm that might better serve your needs.
A few things to take into account:
- This list is not intended to act as a recommendation of any particular brokerage firm.
- All of this information was taken from the firms' respective websites, and does not reflect any special information given to The Options Insider as a result of any professional relationships. We wanted to see what the average trader would see on each of the sites.
- While we have made every attempt to ensure that we gathered the most recent rate information, this information is not guaranteed to be up-to-date, as rates are subject to change without our knowledge. If you believe the information here to be incorrect, please contact dmaillette@theoptionsinsider.
- The rates presented are only for plain, vanilla options trades. Very often, complex trades will have a different fee structure.
- There will likely be other fees added to your trades based on where your trade is executed. Each exchange has a different fee model. Please see exchange websites for further details.
If your broker is not on this list, we'll be happy to make additions. Just send an email to dmaillette@theoptionsinsider.com.
Ok, now that that's out of the way, let's get to it. Up next, E*TRADE.
| Commissions & Other Fees | E*TRADE |
| Online options base commission rate....................... | $9.99 + $0.75/contract (0-149 trades/quarter) |
| Online stock base commission rate.......................... | $9.99 (0-149 trades/quarter) |
| Online stock commission break............................... | $7.99 (150+ trades/quarter) |
| Options commission brakes (if applicable)................ | $7.99 + $0.75/contract (150+ trades/quarter) |
| Broker Assisted Trades........................................... | $45.00 |
| Exercise/Assignment.............................................. | $19.99 |
| Maintenance/Inactivity fee...................................... | See below, or click here. |
Please let us know if there is information you would like to see thatisn't listed here. We want this to be a useful resource for ourreaders, so please let us know what you want to see listed about onlinebrokers.
Maintenance/Inactivity Fee
Account will be reviewed on each quarter's Activity Record Date and a $40 Account Service Fee (ASF) will be assessed, if applicable, on the Fee Date, which is Wednesday during the last full week of each quarter.
You will not be charged an ASF if any of the following apply by the Activity Record Date (the Monday of the last full week of each quarter).
Your account type is:
- Retirement Account
- Global Trading Account
- Personal Trust Account
- Custodial Account
- Account has been opened less than 12 months
- Maintain a stock plan account and are an employee of a current E*TRADE FINANCIAL Corporate Services Client.
Execute one or more stock, option, or mutual fund trades per quarter
Make a minimum of two bill payments using Online Bill Pay
Minimum Balance
- Combined balance in linked E*TRADE Securities accounts is at least $2,000
- Combined balance in linked E*TRADE Securities and E*TRADE Bank accounts is at least $20,000
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