E*TRADE is likely one of the broker names that you know the best. The platform has been one of the most popular brokers in America for a while, and it has a lot of benefits. This broker was founded in 1982 by William Porter and Bernard Newcomb. Since its inception, the brokerage has grown to have nearly five million in accounts. It has a margin receivables balance of over $9.5 billion.
Clearly, E*TRADE is doing something right. The broker’s tools are easy to use, and it has a large selection of investments. The customer support quality is another area in which this firm really shines, as its extensive collection of research and educational tools. The mobile app has improved greatly, making it one of the most advanced apps out there.
This firm has made a lot of big moves in 2020. Morgan Stanley, a financial services and multinational investment bank, has put in the legal paperwork to buy E*TRADE. Pending approval, the purchase could be completed by the end of the year for $13 billion. How that will affect user accounts is unknown for now, but it is likely to be a positive change.