The good news is, E*Trade seems to take its customers’ security seriously. ![]() At sign-up, you have to give the company your social security number, tax identifiers, and bank account information, as well as other sensitive information. However, the amount of personal data the company requires for an account might make you nervous. With E*Trade’s established financial history, zero commissions, and zero fees on stock and ETF trades, it’s no wonder people continue to choose it over other financial apps. Well-established financial company (since 1982) backed by Morgan Stanley SIPC-insured up to $500,000 for securities, up to $250,000 cash, plus additional coverage through Lloyd’s of London up to $1 billionĭiscloses financials and is overseen by US regulatorsĪccess to tax-friendly Individual Retirement Accounts (such as Roth IRA) No account minimums for self-directed trading Online customer service communication is limited High-grade 256-bit encryption methods for connections and transmitting data Zero fees and commissions on stock trading, ETFs, and some mutual fund tradesįees for some mutual funds ($19.95 per trade) and options contracts (.65 cents per contract) Good protection guarantee in case of fraud or unauthorized activityĪggressive personal data-sharing marketing strategiesįacial ID or fingerprint biometric logins for mobile devices ![]() How do they protect assets and data from would-be hackers and other cybercriminals? Do they offer you the necessary cybersecurity measures you need to protect yourself from authorized activity on your account? We’ll answer these questions and more in our E*Trade review below. Each of those users must entrust their investments, cash balances, and their most private and sensitive personal information with E*Trade and Morgan Stanley. It’s currently estimated that E*Trade has more than 5.2 million users with more than $360 billion in assets. ![]() The online trading platform was bought by banking behemoth Morgan Stanley in 2020. Like most online brokerages in 2019, E*Trade switched to no commissions or fees on trading stocks, ETFs, and options. You may remember their regular advertising spots during Super Bowls over the years. E*Trade was one of the earliest online brokers to pop up in the United States.
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