What Account Types and Fees Does E TRADE Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and experienced traders |
No commissions on trades, access to research tools |
No minimum balance requirement, suitable for casual trading |
| Professional Account |
Active traders and professionals |
Lower spreads, advanced trading tools |
Requires proof of trading activity or asset thresholds |
| Corporate Account |
Businesses and corporations |
Custom solutions for corporate finance |
Requires corporate documentation and compliance |
| Islamic Account |
Traders seeking Sharia-compliant options |
No swap rates, tailored trading conditions |
Verification of religious compliance required |
| Demo Account |
All trader levels for practice |
Simulated trading environment with virtual funds |
Ideal for learning without financial risk |
Account Opening Process
To open an account with E TRADE, follow these steps:
1. Choose the type of account you want and complete the online application.
2. Submit personal, employment, and financial information.
3. Provide identity verification documents, including a government-issued ID and proof of address.
4. Fund your account via bank transfer, check, or wire.
5. You will have the flexibility to upgrade to a professional account in the future if your trading needs change.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive for minor pairs |
| CFDs (Stock Indices) |
1.5 |
$0 |
Varies by index, generally lower fees |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Commissions vary with volatility |
| CFDs (Commodities) |
2.0 |
$0 |
Access to major commodities |
Other Fees
In addition to trading fees, E TRADE may charge the following:
– Deposit/Withdrawal fees: No fees for standard bank transfers; wire transfers may incur a $25 fee for outgoing transactions.
– Inactivity fees: $0 for accounts with activity; may apply for dormant accounts.
– Platform usage fees: $0 for standard platforms; premium features may have associated costs.
– Overnight interest (swap rates): Applicable for margin accounts based on market rates.
– Currency conversion fees: Up to 1% on non-U.S. dollar transactions.
