Etrade new offer

[Fab]

Hi,
I am wondering if someone has taken the following offer from Etrade:

https://www.etradeaustralia.com.au/products/promos/belandingpage/index.htm

they offer $550 worth of trade (if made with 60 days from opening an account) and account kept opened for 6 months.
Looks quiet interesting to me but I am wondering if there is a catch.
I am currently with Commsec and would not mind make few free trade with Etrade.

 

[Julia]

Hi,
I am wondering if someone has taken the following offer from Etrade:

https://www.etradeaustralia.com.au/products/promos/belandingpage/index.htm

they offer $550 worth of trade (if made with 60 days from opening an account) and account kept opened for 6 months.
Looks quiet interesting to me but I am wondering if there is a catch.
I am currently with Commsec and would not mind make few free trade with Etrade.

Hello Fab

I notice the actual offer on the website says "UP TO $550...". It may be that you need to transact many large trades to achieve that much brokerage free. Ask them.

I use E-trade and am very happy with them.

Julia

 

[Fab]

Julia,

Thanks for your feedback. I would be interested to know why you are so happy about them ( I also heard that from other etrade customers before). I guess to me they are like Commsec just a bit more expensive with $32.90 per transaction up to $30 000 when Commsec is $19.95 per transaction up to $10 000 then $29.95.
The $550 free trade represents about 16 transactions below $30 000 to be made within 2 months of opening the account (Account needs to be open before end of June. Note that they also charge $19.95 per quarter if you make less than 2 transactions during this period).
I am not aware of any fees when closing the account.

Cheers

 

[Julia]

Fab

Then that's a good offer. E-trade do reduce brokerage after 10 trades in a month.
Why do I like them? Have to say I haven't used any other online broker so can't make a comparison, but the only time I've found the site to be down was one Sunday when they were doing some maintenance for a few hours.
When I was deciding on an online broker, I found their website and literature more informative than Comsec, and their telephone staff very helpful.

Immediate acknowledgment of orders plus emailed contract notes as soon as trade has gone through never fails. I also find the amount of research available on the website, including Huntleys and several others, gives very reasonable value for the slightly higher brokerage paid.

Julia

 

[Fab]

Thanks for your feedback. What is Huntley's ?

 

[freelancer]

Thanks Julia for that information. I was actually planning on signing up with E*trade myself later on in the year. But I guess I should take adventage of this offer. If anyone can see any catches in it though please be sure to let us know.

Thanks

 

[Plan B]

If anyone can see any catches in it though please be sure to let us know.

I think it might be a case of "once your in the front door" they would like to think you would stay with them.

Im just wondering , how many people here have more than just the one trading account ???

MR B.....

 

[Julia]

Thanks for your feedback. What is Huntley's ?

www.aspecthuntley.com.au

Sharemarket newsletter/recommendations. I think it's upwards of $500 p.a. but their newsletters do contain much expanded info than what is available free on E-trade. E-trade website also has Eureka Report (Alan Kohler and Michael Pascoe), Fat Prophets, Wise_Owl, Intelligent Investor, Ecinya, AAP, and Aegis.

Suggest you approach E-trade for free trial of their website, ditto Comsec and any others you are considering, and decide from there.

Julia

 

[nizar]

Julia

Do etrade break up buy/sell orders into individual parcels and do they show market depth of more than 10 levels?

Thanks

 

[Julia]

Julia

Do etrade break up buy/sell orders into individual parcels and do they show market depth of more than 10 levels?

Thanks

Hello Nizar

No to both unfortunately.

Julia

 

[Fab]

Julia,

How are transactions pay for on Etrade ? I talked to their help desk and they mentioned that after opening an etrade account they would send me a bsb and account number where to transfer payment for transactions that I will make with them. The catch their is payment will have to be in their account before the transactions have been executed so if my transaction happens in a week time money will have been sitting in their account (instead of mine) for all this time. Is that really how this work ?
As a comparaison Commsec allow you 3 working days for payment (Much better

 

[visual]

Fab,
the money sits in the account but it earns a very good interest rate
certainly much better than a bank account.

 

[YChromozome]

I signed up with Etrade a couple of months ago to try out - Still haven't done a trade yet.

I've added my holdings to a portfolio within Etrade but I can't work out how to show all company announcements of companies in that portfolio. Other internet brokers I have I can click on a button and it will show only company announcements applicable to my holdings.

Can this be done? (I'm sure I've just overlooked a button somewhere)

 

[Fab]

Visual,

Do you happen to know how much interest it earns and can the account be viewed?

 

[YChromozome]

Account Balance, Effective Date, Interest Rate :

E*TRADE ANZ Cash Account $100,000 Plus 15 Mar 2005 5.25%
E*TRADE ANZ Cash Account $20,000 - $99,999 15 Mar 2005 4.00%
E*TRADE ANZ Cash Account $5,000 - $19,999 15 Mar 2005 3.00%
E*TRADE ANZ Cash Account $1 - $4,999 14 Jan 2005 2.00%

You should be able to view the account from Account Services -> Account Balances.

(If your not an ANZ Customer, you may want to look at opening a ANZ V2 Plus which offers 4.5% for balances over $5,000 (You need a minimum of $5,000). Then with Internet Banking both your ANZ V2 Plus and E*TRADE Cash Account is visible)

 

[Julia]

Julia,

How are transactions pay for on Etrade ? I talked to their help desk and they mentioned that after opening an etrade account they would send me a bsb and account number where to transfer payment for transactions that I will make with them. The catch their is payment will have to be in their account before the transactions have been executed so if my transaction happens in a week time money will have been sitting in their account (instead of mine) for all this time. Is that really how this work ?
As a comparaison Commsec allow you 3 working days for payment (Much better

Fab

Answered by other members. Works well for me.

Julia

 

[Julia]

I signed up with Etrade a couple of months ago to try out - Still haven't done a trade yet.

I've added my holdings to a portfolio within Etrade but I can't work out how to show all company announcements of companies in that portfolio. Other internet brokers I have I can click on a button and it will show only company announcements applicable to my holdings.

Can this be done? (I'm sure I've just overlooked a button somewhere)

Hello YChromozome

Interesting question. I can't answer this. I use ASIC for company alerts.
By registering what companies you require announcement alerts for, they send an email when an announcement is made.

Julia

 

[Fab]

YChromozome ,

I am with CBA . Would you happen to know if I can use a CBA account the same way as you describe it for ANZ?

 

[surelle]

I'm very happy with Etrade, sadly they don't offer the specials to existing accounts...

 

[YChromozome]

I am with CBA . Would you happen to know if I can use a CBA account the same way as you describe it for ANZ?

As the help desk mentioned to you on the phone, the ETRADE account will come with an standard BSB and account number, so you would have no problems getting money into the account. I'm not sure about getting money out . . I assume when you sign up, you nominate a bank account (CBA) to transfer the money back out. (Mine was linked to my existing ANZ V2). In your case I'm not sure how you get the money back.

The trouble with banks now is the time it takes to transfer money between the different institutions. That is why I sort of suggested holding some money in a V2 plus which yields more interest than the etrade cash account, and as both are held at the same institution, you can transfer money instantly. Otherwise if the help desk is correct and you need money in your ETRADE cash account before you can do a trade, then you will find that if you transfer money from your CBA account to the ETRADE account, the money is likely to vanish for 3 days as it transfers between banks and before you can start a trade.