People ask me all the time why I use ETrade as my primary brokerage. As they are probably thinking about the firm that they want to put their money at, these people want to hear a definitive statement of why ETrade is superior to others so that it will make their decision easy.
I’m currently still quite happy with this brokerage firm, but I do not have the magical statement that you are looking for. For all I know, there is some other company that is just better than ETrade for what they do. What I can tell you though is why I still use them as my primary brokerage firm.
ETrade is Company I Started With
I must admit that this is one of the main reasons why I stayed with ETrade. Other than the bankruptcy scare in November of last year, there really hasn’t been any reason for me to switch! For those that missed it, here’s how I started with ETrade.
ETrade Invests in Technology More than Others
What I like about the brokerage firm is that they clearly spend more resources on the technology front. As an online brokerage firm, I expect the user interface to be easy to use, the website response to be snappy and most of all, the service to not be down!
Compare this with TD Ameritrade and the constant complaint of website issues, ETrade gets my vote.
They Educate Me
I’m sure ETrade is not the only brokerage firm that does this, but they regularly send me emails about upcoming seminars and online training session where I can learn about different investing vehicles. For example, they have a training session this Thursday about the basics of options trading and how conservative investors can take advantage of options to reduce risks.
Continual Improvements
Unlike many other alternatives, ETrade often revamps their web interface to make it even more user friendly. It is refreshing to see an updated look also when you are looking at the same controls all the time!
ETrade also seems to bring out new features much more than their competitors. Overseas investing, trading on a blackberry are all innovations that make ETrade one of the only companies that continual to improve upon what’s already quite good.
Which Company Do You Use?
Everyone knows that I use ETrade so what about you? Anything you like about your brokerage firm that you’d like to share with us?
- E*Trade Financial - Official Site
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I’m with you. I knew one of the earliest employees with E*Trade and maybe out of loyalty I stick with them for that reason. Not sure, but I do know that I’ve thought about moving my stock to another account, but the fees are higher with that firm (stock trading is not their specialty) and I don’t think the research offerings are quite as good as with E*Trade. (Because E*Trade has research from a few different firms available for free vs. nickel and diming me for it.)
My folks have used other discount brokers and whatnot, but they never seem enamored of them. As much as some other low-commission places sound appealing, I’ve been underwhelmed by the reviews other PF Bloggers have put forth on them. After all, there is a cost associated with switching, even if it’s chronological vs monetary.
I live in a smalltown in rural Oregon. My brokerage is Edward Jones. It’s because I like the personal touch - they know me personally, they know my kids, and my grandkids, they know the reason I want to invest the way I do. There’s never any pressure. There’s never a hurry - they’ll explain things all day long if that’s what I need. They are receptive to my fears, and my confidences - they give me options, do research for me, and they help me invest in a way that leaves me comfortable with the transactions, and I can sleep at night. That’s why I deal locally.
I am using several brokerage houses including ( but not limited to) Fidelity, Schwab, Zecco, Sharebuilder. I am becoming more interested in Zecco with the zero dollar commisions, which provides for great savings over time.
I don’t really care about the interface, as long as their execution is good as now.