Experience of using Etrade? (Zero commission charged on ETFs)

[ExpatJ]

I have finally figured a way of accessing US stocks, ETFs, Bonds via opening an etrade account in Singapore (i have a bank account there but am resident in Thailand). They charge zero commission on ETFs (only a 9US$ charge when buying/selling an ETF- seems excellent given that all the funds i see available here in thailand have @ 5% upfront fees plus annual fees).

Does anyone have experience of using etrade? Good/bad?

Edited October 9, 2013 by ExpatJ

[yoshiwara]

If you do an online search you will find there are many dissatisfied customers of etrade.

Remember, if something appears extra cheap then the company may claw back income in other ways.

[ExpatJ]

If you do an online search you will find there are many dissatisfied customers of etrade.

Remember, if something appears extra cheap then the company may claw back income in other ways.

I asked because when i did an online search they get very good reviews (too good?) and ranked in top 1-3/5 of online brokerages; thats why i am looking for more personal feedback here. In terms of being cheap they are actually more expensive than most US online brokerages they are just very cheap compared with the crazy fees you have to pay for investing in Funds here in Thailand/Asia.

Edited October 9, 2013 by ExpatJ

[yoshiwara]

If you do an online search you will find there are many dissatisfied customers of etrade.

Remember, if something appears extra cheap then the company may claw back income in other ways.

I asked because when i did an online search they get very good reviews (too good?) and ranked in top 1-3/5 of online brokerages; thats why i am looking for more personal feedback here. In terms of being cheap they are actually more expensive than most US online brokerages they are just very cheap compared with the crazy fees you have to pay for investing in Funds here in Thailand/Asia.

http://www.consumeraffairs.com/finance/etrade.html

[ExpatJ]

If you do an online search you will find there are many dissatisfied customers of etrade.

Remember, if something appears extra cheap then the company may claw back income in other ways.

I asked because when i did an online search they get very good reviews (too good?) and ranked in top 1-3/5 of online brokerages; thats why i am looking for more personal feedback here. In terms of being cheap they are actually more expensive than most US online brokerages they are just very cheap compared with the crazy fees you have to pay for investing in Funds here in Thailand/Asia.

http://www.consumeraffairs.com/finance/etrade.html

After a quick search it seems that website you linked too is itself a scam- they literally only have negative reviews on companies and then charge said companies for removing them??? Bizarre.

[yoshiwara]

If you do an online search you will find there are many dissatisfied customers of etrade.

Remember, if something appears extra cheap then the company may claw back income in other ways.

I asked because when i did an online search they get very good reviews (too good?) and ranked in top 1-3/5 of online brokerages; thats why i am looking for more personal feedback here. In terms of being cheap they are actually more expensive than most US online brokerages they are just very cheap compared with the crazy fees you have to pay for investing in Funds here in Thailand/Asia.

http://www.consumeraffairs.com/finance/etrade.html (maybe more of the same you were referring to?)

After a quick search it seems that website you linked too is itself a scam- they literally only have negative reviews on companies and then charge said companies for removing them??? Bizarre.

http://www.theinvestorsjournal.com/e-trade-review

Edited October 9, 2013 by yoshiwara

[ExpatJ]

Thanks yoshi- that was useful. I note that most of the complaints are about fees (10s 100s of dollars) but given the high fees in Asia (ie a typical 5% fee for a fund here )it costs much more than the fees they are talking about for etrade ( bear in mind the reviewers are American and don't face the high fees we do here in Asia ).

[CPH]

They are the best.

[yoshiwara]

Thanks yoshi- that was useful. I note that most of the complaints are about fees (10s 100s of dollars) but given the high fees in Asia (ie a typical 5% fee for a fund here )it costs much more than the fees they are talking about for etrade ( bear in mind the reviewers are American and don't face the high fees we do here in Asia ).

My own opinion is that the cheaper companies cannot provide the same level of service with the lower charges, so the complaints re communications seem to chime in.

My personal preference is to conduct trades through my bank.

[ExpatJ]

Thanks yoshi- that was useful. I note that most of the complaints are about fees (10s 100s of dollars) but given the high fees in Asia (ie a typical 5% fee for a fund here )it costs much more than the fees they are talking about for etrade ( bear in mind the reviewers are American and don't face the high fees we do here in Asia ).

My own opinion is that the cheaper companies cannot provide the same level of service with the lower charges, so the complaints re communications seem to chime in.

My personal preference is to conduct trades through my bank.

Yes I trade Thai and asian stocks through my local banks and fees are not bad- it's just the funds where the fees become terrible -100k in a fund purchased in Thailand and you give them 4-5000$ Immediately if the initial fee is a not untypical 4-5 % plus typical 1.5% + annual management fees at @ 1500$ a year. Hence the 25 buck fee complaints on that website via a vis etrade are nothing.

[richsilver]

I've been an E-Trade customer for years now and have been quite satisfied. There are occasional glitches transferring funds to Thailand, but nothing serious.