Opening an E*TRADE account takes about 10 to 15 minutes online, and there’s no minimum deposit required to get started. You’ll need some basic personal information, a funding source, and a decision about which account type fits your goals. Here’s a walkthrough of the entire process.
Choose Your Account Type
Before you start the application, decide what you’re investing for. E*TRADE offers several account types, but most new investors choose one of three.
- Individual brokerage account: A general-purpose investment account with no contribution limits and no withdrawal restrictions. You’ll pay taxes each year on any dividends, interest, and investment gains. This is the right choice if you want flexibility to invest and withdraw money on your own timeline.
- Traditional IRA: A retirement account funded with pre-tax dollars, meaning contributions may reduce your taxable income for the year. Your investments grow tax-deferred, but you’ll owe income tax on withdrawals in retirement. Pulling money out before age 59½ typically triggers taxes and a penalty.
- Roth IRA: A retirement account funded with after-tax dollars. You don’t get a tax break now, but qualified withdrawals in retirement are completely tax-free. Income limits determine whether you’re eligible to contribute.
You’re not locked into one account. Many investors open both a brokerage account and an IRA to get the tax advantages of retirement savings alongside the flexibility of a taxable account. E*TRADE also offers rollover IRAs, SEP IRAs, SIMPLE IRAs, and individual 401(k) plans if you need something more specialized.
What You Need to Apply
E*TRADE’s application asks for standard identity verification details: your full legal name, home address, date of birth, Social Security number, and employment information. The platform uses a third-party service to verify your identity electronically, so in most cases you won’t need to upload any documents. If the automated check can’t confirm your identity, E*TRADE may ask for a copy of your driver’s license or another government-issued ID.
Have your bank account routing and account numbers handy if you plan to fund the account right away. You’ll also answer a few questions about your investment experience and financial situation, which E*TRADE uses to determine your eligibility for certain features like options trading or margin.
Walk Through the Application
Go to etrade.com and click the button to open an account. Select the account type you chose earlier. The application flows through a series of screens.
First, you’ll enter your personal details and create login credentials. Next, you’ll answer questions about your employment status, annual income, net worth, and investment objectives. These aren’t trick questions. Be honest, and don’t worry that a “wrong” answer will get you rejected. The questions help E*TRADE tailor your account settings and meet regulatory requirements.
You’ll then review and agree to the account terms. Once you submit, E*TRADE typically approves applications within one to two business days, though many accounts are approved almost immediately. You’ll get an email confirmation with your account number and instructions for next steps.
Fund Your Account
After approval, you have several ways to add money. The method you choose affects how quickly you can start investing.
- Electronic bank transfer: Link your checking or savings account and initiate a transfer. Funds arrive within three business days if submitted before 4 p.m. ET, though some or all of the money may be available for trading immediately based on your account standing.
- Wire transfer: The fastest option. Funds are available the same business day if received before 6 p.m. ET. Your bank will likely charge a wire fee, typically $20 to $30.
- Check deposit: Mail a check or use E*TRADE’s mobile deposit feature. Funds deposited to a brokerage account are generally available for investing on the fourth business day after deposit.
- Account transfer: If you’re moving investments from another brokerage, E*TRADE can pull them over electronically. This takes 10 or more business days, and the option is only available for brokerage accounts (not IRAs funded this way through the transfer tool).
- Direct deposit: Route part or all of your paycheck into your E*TRADE account. Initial setup takes one to two pay cycles, but once active, funds are available immediately on payday.
There’s no required minimum deposit to open the account itself. However, you’ll obviously need money in the account before you can buy anything, and certain investments have their own minimums. Many mutual funds, for example, require $500 to $3,000 to get started, while stocks and ETFs can be purchased one share at a time.
Apply a Promotional Code
E*TRADE currently offers cash bonuses for new clients who fund their accounts within 60 days of opening. For brokerage accounts, use the promo code OFFER26 during signup. For retirement accounts, use RETIRE26. Both offers are valid for accounts opened by June 30, 2026, and funded with at least $1,000 from an external source.
The bonus scales with your deposit. Fund $1,000 to $4,999 and you’ll receive $50. Deposit $5,000 to $19,999 for a $150 credit. The tiers continue up: $300 for $20,000 to $99,999, $600 for $100,000 to $199,999, and $1,500 for $500,000 to $999,999. There’s one important catch: your deposited funds must stay in the account for at least 12 months after the 60-day funding window closes, or E*TRADE can claw back the bonus. Cash credits are deposited within seven business days after that 60-day funding period ends.
Start Investing
Once your account is funded, you can buy and sell stocks, ETFs, mutual funds, bonds, and options through E*TRADE’s website or mobile app. Stock and ETF trades are commission-free. Options trades carry a per-contract fee.
If you’re new to investing, E*TRADE also offers pre-built portfolios and a robo-advisor service called Core Portfolios that handles investment selection and rebalancing for you. For hands-on investors, the Power E*TRADE platform provides advanced charting and analysis tools at no extra cost.
Your account is protected by SIPC insurance, which covers up to $500,000 in securities and cash (with a $250,000 limit on cash alone) if the brokerage were to fail. This isn’t the same as FDIC insurance on a bank account, and it doesn’t protect against investment losses, but it does mean your assets are safe if something happens to the firm itself.