ETRADE is one of the leading online brokerage platforms in the world. But is it available internationally or just limited to certain countries? Here, we look at what countries is E*TRADE available and the alternatives for global investors.
Summary
ETRADE is focused primarily on serving US-based customers. While accounts can technically be opened from other countries, the process is cumbersome. Since the 2008 financial crisis, E*TRADE has pulled back operations from markets like Canada, Australia, and the EU. However, quality alternatives exist, such as eToro, Interactive Brokers, XTB, and DEGIRO.
What is E*TRADE?
Founded in 1982 in Palo Alto, E*TRADE Financial is an online brokerage catering to retail investors and traders. They provide a digital platform to invest in stocks, options, ETFs, mutual funds, and fixed-income securities. ETRADE also facilitates IRA accounts, margin trading up to 50% leverage, and access to IPOs.
As an early pioneer in the online brokerage space, E*TRADE helped educate retail investors through research, charts, news and educational resources. The user-friendly website and mobile apps appeal especially to active equity and derivatives traders focused on US securities.
What Countries is E*TRADE Available?
While residents from most countries can technically open E*TRADE accounts by mailing application forms, the company mainly focuses on American investors. Let’s analyze availability region-by-region:
United States – E*TRADE’s brokerage services and trading platforms seamlessly support accounts across all 50 states. US citizens and permanent residents enjoy full access.
Canada – ETRADE retreated from Canada in 2008 after selling subsidiary ETRADE Canada to Scotiabank. Rebranded as Scotia iTrade.
Europe – Originally expanded here through E*TRADE Securities Limited UK. But pulled back from the EU in 2019 with only basic services maintained for select countries.
Australia – E*TRADE Australia became ANZ Share Investing in 2016 after its acquisition by Australia & New Zealand Banking Group (ANZ) in 2007.
Asia – Withdrew from Hong Kong and Japan after years of operations. Only ad-hoc support for clients in countries like Singapore, Malaysia and India.
So in summary, E*TRADE focuses overwhelmingly on American account holders despite cursory international presence. Opening accounts from abroad is frustrating by needing to print and manually fill lengthy forms before scanning multiple identity documents. This cumbersome process often results in long wait times for basic trading access.
Does E*TRADE Have Plans to Reexpand Abroad?
Despite a global footprint that once spanned North America, Europe and the Asia Pacific region, E*TRADE seems focused exclusively on the domestic US market after its 2020 acquisition by Morgan Stanley. No recent announcements indicate plans to reopen services in Canada, the EU, Hong Kong or former markets.
Instead, presentations to investors detail cost-cutting initiatives and technology integration to merge ETRADE with Morgan Stanley core offerings. With the 2008 financial crisis forcing ETRADE to extensively downsize its international presence, returning abroad has not been a priority for over 15 years now.
Alternatives Brokers for International Investors
Luckily for investors living globally, many accessible online brokerage alternatives to E*TRADE exist worldwide, including:
Interactive Brokers – Algorithmic trading pioneer catering to sophisticated investors with availability across over 135 markets globally and offices in the US, Switzerland, UK, Australia, Hong Kong and other major countries.
DEGIRO is a Dutch discount broker expanding rapidly across Europe with commission-free ETF and stock trading paired with limited account fees.
SwissQuote – Cutting-edge trading platforms and apps. Multilingual support across Europe. Commission-free trading recently introduced.
Saxo Bank – Well-regulated broker focused on European clients with access to stocks, ETFs, bonds, CFDs, forex, futures, and more.
eToro – Israel-fintech pioneer supporting commission-free trading in stocks and popular cryptoassets. Unique social and copy trading tools.
Looking for More Online Brokers?
If you are looking for information on the availability of other leading online brokers internationally, be sure to check out these useful guides:
- What Countries is Charles Schwab Available?
- What Countries is Robinhood Available?
- What Countries is DEGIRO Available?
We have in-depth articles breaking down the international availability, fees, platforms, and more for major brokerages like Charles Schwab, Robinhood, and DEGIRO. See which one may best fit your specific trading needs and location.
How to Select the Right Investment Platform
Consider this key criteria when choosing an online broker as an international investor:
Regulation & Deposit Protection – Select locally regulated brokers covered by schemes like FDIC insurance or SIPC protection. Verify participation by checking government financial websites.
Trading Fees – Compare commissions on asset classes you will trade. Watch for hidden fees in spreads or currency conversions that can eat profits.
Funding & Withdrawal Methods – Conveniently deposit and withdraw funds from your country/currency. Electronic payment support ideal.
Languages Supported – For customer service and platforms translated to your language. Prevent confusion from complex investment terms.
Available Asset Classes – Assess if broker provides access to desired securities likes stocks, ETFs, mutual funds, futures, options, currencies etc.
Also evaluate account minimums, platform capabilities, order types supported, tools, educational resources and ease of usage for your experience level.
Conclusion
In summary, while technically still operational globally in limited capacities, investors worldwide will likely find E*TRADE underwhelming compared to more internationally focused brokerages that translate sites into local languages, offer transparent fee schedules not hiding currency conversion charges, and streamline account opening paperwork. Check brokers like Saxo Bank, SwissQuote or Interactive Brokers as leading alternatives.
FAQs
Is E*TRADE good as a brokerage overall?
Yes, E*TRADE is an excellent choice for active traders and investors focused on US securities markets like stocks, ETFs and options. Platforms and apps are user-friendly with extensive educational resources provided. However, better global brokers exist.
Can Canadians or Europeans easily use E*TRADE?
No. Since exiting the Canadian and European markets over 15 years ago, E*TRADE has made accessing accounts increasingly difficult for residents. Better regional alternatives are now available.
Does E*TRADE work, or have plans to reopen in Australia?
E*TRADE no longer directly operates in Australia after the ANZ takeover. No announcements made recently regarding reentering the market, so investors should consider alternative brokers.
