You can view ETRADE’s detailed report on its FINRA profile if you want to read about any of the disclosures.įor assets you hold within any type of E*Trade brokerage account, you are covered under Securities On ETRADE’s FINRA profile, they have a total of 226 disclosures including 93 regulatory events and 133 arbitration events. If you want to look up either of their registrations, E*Trade’s CRD number with FINRA is 29106 and its SEC number is 8-44112. E*Trade also provides an industry-required Statement of Financial Condition on its website that reveals its assets, liabilities, and equity.Į*Trade is actively registered with both FINRA and the SEC. Financial Crimes Enforcement Network (FinCEN). Some of the regulatory organizations that oversee E*Trades operations include the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), and the U.S. With E*Trade being in the financial industry and handling people’s money, there is significant regulatory oversight and many rules that they have to constantly comply with. If you are worried about E*Trade being a legitimate broker, you can rest assured that they have plenty of regulators making sure that they are operating in an ethical and legitimate way. Therefore, that number of complaints breaks down to a very small percentage of unhappy customers that took the time to file complaints against E*Trade and give them a bad review on their BBB profile. To help put these numbers into context, E*Trade has millions of customers. Don’t be alarmed by this, it just means they probably don’t want to pay the fee to the BBB to become accredited.Į*Trade has 53 customer reviews with a 1.09/5 star rating and 426 complaints closed in the last 3 years with the BBB. E*Trade has a profile with the BBB but is not accredited with the BBB. The Better Business Bureau serves as a classic starting point for trying to figure out if a company is legitimate or not. In E*Trade’s last fiscal year of 2019, prior to being acquired by Morgan Stanley, they reported processing over 291,000 daily average customer trades, having over 7.2 million total accounts, and producing close to $3 billion in total revenue. E*Trade now lives under the Morgan Stanley ownership umbrella, however, still operates as the E*Trade name, website, tools, etc. In late 2020, Morgan Stanley acquired E*Trade in an all-stock transaction that was valued at around $13 billion at the time. In the investment world, E*Trade has a stellar reputation for its powerful, user-friendly trading tools and platforms. Most regular people are probably familiar with the name E*Trade from seeing their famous baby commercials during super bowl ads.
The origin of E*Trade began around 40 years ago when they claim to have been the first company to ever execute an online trade sent to an exchange for a retail investor. We answer those questions as well as provide a review of E*Trades commissions and pricing, trading platforms, research tools, and more. Even with E*Trade being a household name, some people might still have questions in their minds such as if E*Trade is a scam or legitimate and if they are a safe broker to use or not.
Is E*Trade a legit, safe, and trustworthy firm? Or is E*Trade a scam or aĮ*Trade is one of the most well-established online brokers in the industry.
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