Can you trade cryptocurrency on ETrade?
JesseE*TRADE, an online brokerage pioneer, has been held back by higher than average commissions for the last decade. This changed in Oct. 2019, when E*TRADE joined a majority of brokers in cutting equity and per-leg options commissions to $0. E*TRADE offers three computer-based platforms and two full-featured mobile apps that will appeal to a range of investing styles and interests. Its flagship web platform at etrade has been remodeled to be easier to navigate.
Options tools they acquired and integrated into the Power E*TRADE platform, after purchasing former rival OptionsHouse, have given them some top-notch options tools. E*TRADE Pro, a downloadable platform for frequent traders, offers streaming real-time data and excellent charting tools. Aside from this E*TRADE broker review, we've also reviewed the E*TRADE Core Portfolios robo-advisor service.
To exchange Bitcoin, visit: convert bitcoin to usd
ETrade Financial Corp. is getting ready to let customers trade cryptocurrencies on its platform, according to a person familiar with the matter.
The firm will start by adding bitcoin and Ethereum, and will consider adding other currencies in the future, said the person, who asked to remain anonymous because the matter is private. A spokesman for ETrade declined to comment.
ETrade would be one of the largest securities brokerages to allow crypto trading. It will enter into a competitive market with startups like Coinbase Inc., which have made names for themselves as go-to places for such transactions. Closely held Coinbase reached a valuation of $8 billion in 2018 and projected sales of $1.3 billion. Fintech startup Robinhood, most recently valued at $5.6 billion, has also added cryptocurrency trading as a way to woo millennial customers.
The arrival of ETrade could help to legitimize cryptocurrency trading for wary investors. On Thursday, New York’s attorney general accused the operator of one prominent crypto exchange of hiding the loss of about $850 million, sending bitcoin’s price tumbling. Bitcoin has failed to rise back to levels it hit at the end of 2017, when it surged to nearly $20,000, but it’s still worth about 35% more than it was at the start of 2019.
Who E*TRADE Is For
For about a decade, E*TRADE has targeted engaged, active investors, and high-net-worth investors with over $100,000 to invest. E*TRADE was a top 5 broker in many categories last year, particularly in options and trading, and the fee elimination has bolstered its position for more active investors. The Power E*TRADE platforms, both desktop and mobile, bring clients robust options analysis and strategy development tools. That said, E*TRADE has continued to rank highly among the best online brokerages for beginners thanks to its excellent resources and usability. Like other large online brokers, E*TRADE has something to offer for all levels of investors.
Pros
- Two excellent mobile apps aimed at different trading styles
- Paper trading replicates the entire Power E*Trade platform
- Get invested quickly by choosing a Prebuilt Portfolio
Cons
- Per-contract options commissions are tiered with higher fees for less frequent traders
- No direct international trading or data
- No consolidation of outside accounts for a complete financial analysis