About eTrade Global Stock Trading

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ETrade offers a special global trading service that provides significant trading convenience for six major countries in five different currencies. The accounts provide the ability to trade in foreign currencies--a convenience that many global trading services don't have, as they often charge you significant additional amounts of money to convert trades to other currencies every time you want to buy or sell a security.

Significance

  • The eTrade Global Trading Platform is a premiere investment service that offers a convenient way to invest in the most dynamic foreign economies of North America, Europe and Asia. Most investors have trouble investing in foreign exchanges due to regulatory restrictions. This platform cuts through that red tape, but charges some noticeably substantial fees for the privilege. The platform is a available for no extra charge to existing eTrade customers. The platform also offers savings accounts in foreign currencies from which you can trade.

Function

  • The eTrade Global Trading program allows you to trade in Canada, France, Germany, Hong Kong, Japan and the UK using Canadian Dollars, the Euro, the Hong Kong Dollar, Japanese Yen and British Pound. Every stock listed using the service comes with independent analysis information, real-time quotes, global watch lists and the customer service that you will have come to expect from eTrade.

Features

  • The eTrade Global Trading Platform charges approximately $20 per currency exchange and another $20 per international trade--those costs are in addition to regular fees. This can make the service prohibitively expensive for smaller traders, but the overhead will be not as noticeable for individuals with larger accounts. The service also offers real-time quotes during the operating hours of the different international exchanges.

Considerations

  • The eTrade Global Stock Trading platform provides convenient currency trades, but it is not a software service designed for foreign exchange trading. It can be used effectively to provide currency hedges, but the fee structure make it prohibitively expensive to profit from currency trading exclusively. ETrade intends for its customers to utilize the exchange portion of the global trading platform primarily to purchase foreign stocks and bonds.

Effects

  • The eTrade Global Platform provides all of the convenience, high level of information and excellent interface design of the rest of the service. Not all of the trading platforms out there are reputable. The information available about global stocks on the eTrade platform helps to reduce the amount of time that you would otherwise need to spend hunting for English-language information about the stocks that you're trading.

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  • Photo Credit rochelle, et. al., Flickr
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