Today we review E-Trade IRA for you. What is E-Trade IRA? Good Financial service, or should you look on other alternatives instead? These are just a few of the questions we will help you answer today!
Name of the Company: E*Trade IRA
Official Website URL: https://us.etrade.com/bank
Owner: E*Trade Financial Corporation
Overall rating: (4.3 / 5)
Recommended? : Yes
Important to mention (before we go into more details of this review)
We strongly recommend doing your research online before choosing a company to invest in. There are so many reviews online of clients being ripped off and scammed. So please investigate thoroughly and compare different alternatives before you make your decision.
One example: 99.9% of companies got “pushy” salespeople trying to stress you into acting fast.
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With that being said, let´s continue with the review on E*TRADE IRA!
You may or have not heard about E*TRADE IRA. Amongst the seasoned investors, however, this is not a new name. In this review, we shall be focusing on finding out what this company is all about by answering the following questions:
- What is E*Trade IRA?
- How does it work?
- What are the IRA investment plans that it offers, and how are they priced?
- Are the services and products that E*Trade IRA offers genuine?
- Are there any investment opportunities that one can pick up with this company to grow their wealth?
- What are the benefits and drawbacks of a client deciding to work with this company?
- Are there better alternatives out there?
What is E*Trade IRA?
E*Trade IRA is a renowned brokerage investment firm that has been helping investors achieve their financial goals for more than 20 years now. This company offers investors some of the lowest tradable securities discounts and equips them with the most relevant tools to facilitate their continued success in their trading activities.
E*Trade IRA’s existence in this industry for a long time has given it the edge over its competitors. It has bagged some awards for its excellent customer service provision, excellent trading tools, and some of the best research reports available to investors.
E*Trade is, therefore, a favorite amongst many investors. A significant number of these investors got to join this firm after checking out its many commercials on TV. E*Trade, unlike many brokerage firms of its kind, is highly advertised, making it popular amongst many investors.
How does it work?
E*Trade IRA exists for the sole purpose of empowering investors by helping them gain access to every essential resource and tool that would be required to help them grow the funds set apart for their IRA. A variety of investment options are presented to E*Trade’s clients’ thus, every client has to follow a custom process to begin accessing the resources and tools to accomplish their investment needs. For most clients, though, the procedure followed is as follows:
- Open an account with E*Trade IRA.
- Use their IRA Selector Tool that helps you determine whether you qualify for a Roth/ Traditional IRA.
- Begin making tax-deductible contributions to the account, depending on your income.
- Automate the IRA savings to be invested in core portfolios.
- With the free cash management features, you can access accumulated investment funds as early as age 59.5. Clients are only allowed to make such withdrawals if they have a balance of more than $5000 in their accounts.
The lowest account balance that a client can maintain is $500. These conditions set E*Trade apart from other brokerage firms of its kind, in which the clients are not required to maintain a specific account balance.
IRA trade-exchanges offered and how they are priced
E*Trade IRA provides several trade exchanges. Therefore, clients can select the options that best suit their expertise in investing in tradable securities and the amount of funds at their disposal.
There are more than 250 commission-free ETFs and over 4,400 no-transaction-fee mutual funds offered by E*Trade. This company also offers stocks and options trading to their clients, and they charge fixed commission fees as follows:
- Stocks trading –E*Trade charges a commission of $6.95 per trade. Discounts are available for volume traders. Those capable of making 30+ trades per quarter are usually charged $4.95 per trade.
- Options trading –E*Trade charges a commission of $6.95 +$0.75 per contract. Volume discounts are available.
- Bonds-E*Trade charges a commission of $1.00 for all online secondary market trades. You must have a $10 minimum and a $250 maximum balance in your bonds account.
- Futures-E*Trade charges $1.50 per contract, per side, and the variable commission.
Learn about the top 5 recommended Gold IRA providers on this page.
Is E-Trade IRA s Scam or Legit?
E*Trade IRA is a genuine IRA brokerage firm that provides its clients with genuine investment instruments that enable them to grow their wealth to ensure that they retire without worrying about their financial status. This is what this company has been doing for more than 20 years now. With the E-Trade Web, Power E-Trade, and E-Trade Pro, trading platforms availed by E*Trade, most investors have managed to have the retirement they had dreamt of, and this has worked to build E*Trade’s reputation as a reliable company.
Consumer Trust sites such as Credit Donkey (https://www.creditdonkey.com/etrade-review.html) have reviewed E*Trade and made it known that it is a reliable brokerage firm. This is the reason E*Trade has a 4.2/5 rating on this site.
E*Trade’s excellent performance is also brought out in RothIRA(https://www.rothira.com/blog/etrade-roth-ira-review). Roth IRAs makes it known that E*Trade has managed to bag several awards for their stardom in customer service provision, research, and excellent trading tools.
The same opinions are held by Nerd Wallet (https://www.nerdwallet.com/reviews/investing/etrade), in which E*Trade has a 4.5/5 rating. It is, therefore, safe to say that as much as E*Trade charges some of the highest fees in the market, it is one of the most reliable brokerage firms available in the market.
If you choose to work with E*Trade, you are guaranteed to earn an income from the investments made with the IRA funds that you set aside. As seen earlier on, these funds are usually matched with a diversified portfolio of tradable securities, and this is essentially how you get to earn an income. The tradable securities offered by E*Trade include Stocks, Futures, Bonds, Options, ETFs, and Mutual Funds.
Pros and Cons
It is always wise (and recommended) to compare the negative sides against the positive ones before making any decisions. As always in our reviews, we provide you with some obvious points on both sides of the spectrum:
– A variety of investment options are offered.
– Several trading platforms are provided.
– Excellent customer support is given.
– Discounts are given for large volume trades.
– Emphasis is placed on extensive research.
– Is trustworthy since it has been in service for a long.
-There’s a minimum account balance required.
-The commissions charged are quite high for low-volume traders.
-The many options may confuse the new traders.
Do You Own or represent E-Trade IRA?
If you are a representative or associate of E-Trade IRA and have found something not to be correct in this review, please, feel free to tell, and I will make sure to update the info on this post. The easiest way to do it is in the comment section below, or else you get the e-mail on the about page.
Final words and verdict:
Overall rating: (4.3 / 5)
Ok, I think that sums up the overall view of this company pretty well. It is a legit one for sure. However, if it is your best alternative, there is another story. It depends on what you are looking for.
Always review and compare different alternatives against each other before you make any investment decisions.
You made a wise decision to read this review, and you are a smart person, so I am sure that you will find the right company that suits your particular need the best and that you feel comfortable doing business with.
There are many similar services out there. I have listed many of them on this website. However, the absolute best one I can recommend is Augusta Precious Metals. It is the world’s #1 rated company to invest in Precious Metals IRAs and also has the most reviews and ratings from most 3rd party consumer protection agencies in the industry.
I hope you found this short review of E-Trade IRA helpful, and you now have a better understanding of what it is and if their financial service is for you. If you have used any of their services, share your experience in the comment section below, as it can help others! Also, if you got any questions about this review, I will be more than happy to answer them below!
I wish you success!
founder of: Goldretired.com