Introduction
Etrade is a popular online brokerage firm that offers a wide range of investment products and services. If you are planning to open an account with Etrade, you may be wondering what the minimum deposit is. In this article, we will discuss the minimum deposit requirements for Etrade accounts.
Types of Etrade Accounts
Etrade offers several types of accounts, including brokerage accounts, retirement accounts, and managed accounts. The minimum deposit requirements vary depending on the type of account you choose.
Brokerage Accounts
For brokerage accounts, Etrade requires a minimum deposit of $500. This applies to both standard brokerage accounts and margin accounts. Margin accounts allow you to borrow money to invest, but they also come with higher risks.
Retirement Accounts
If you are opening a retirement account, such as an IRA or Roth IRA, the minimum deposit is also $500. However, if you are transferring an existing retirement account to Etrade, there is no minimum deposit requirement.
Managed Accounts
Etrade also offers managed accounts, which are professionally managed portfolios tailored to your specific investment goals and risk tolerance. The minimum deposit for managed accounts is $25,000.
Additional Fees and Charges
In addition to the minimum deposit requirement, Etrade also charges fees and commissions for trades and other services. These fees vary depending on the type of account and the products and services you use.
Stock and ETF Trades
For stock and ETF trades, Etrade charges a commission of $6.95 per trade. However, if you make more than 30 trades per quarter, the commission drops to $4.95 per trade.
Options Trades
If you trade options, Etrade charges a base commission of $6.95 per trade plus $0.75 per contract. The commission drops to $4.95 per trade plus $0.50 per contract if you make more than 30 trades per quarter.
Mutual Fund Trades
Etrade offers a wide range of mutual funds, and the commission for mutual fund trades varies depending on the fund. Some funds are commission-free, while others have a transaction fee of $19.99 per trade.
Conclusion
In summary, the minimum deposit for Etrade accounts varies depending on the type of account you choose. For brokerage and retirement accounts, the minimum deposit is $500, while managed accounts require a minimum deposit of $25,000. In addition to the minimum deposit, Etrade also charges fees and commissions for trades and other services. It is important to carefully consider these fees and charges before opening an account with Etrade.
