DARTs Pointed Lower at E*TRADE in January 2019

E*TRADE’s brokerage customer assets rose to $453 million last month, up 12 percent year-over-year.

E*TRADE Financial Corporation (NASDAQ: ETFC) today revealed that Daily Average Revenue Trades (DARTs) were pointed lower in January 2019, coming in at 282,499 a day, a decrease by nine percent month-over-month from 310,889 ‎in December 2018. Over a yearly timetable, the New York-based firm said DARTs of the month prior were also lower by 10 percent year-over-year, compared to 315,572 in January 2018.

In terms of E*TRADE’s new accounts growth, the group added 90,174 gross new brokerage accounts in January 2019, compared to 74,598 set back in December, and 91,667 in January 2018. The figure reflects the impact of its recent acquisition of brokerage accounts from Capital One, including post-acquisition activity.

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In total, this brings the company’s overall accounts to approximately seven million in January 2019, which is higher by one percent compared to 6.95 million in the previous month. This figure also prints a 28 percent increase year-over-year.

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Expanding the ETFs offering

Another area of strength for the month was E*TRADE’s brokerage customer assets which rose to $453 million last month, up 12 percent year-over-year from $410 million in 2018. Meanwhile, the month on month comparison also shows an increase of nine percent from $436 million in December.

Earlier last year, the discount brokerage giant expanded the number of ETFs that customers can access without commissions. E*TRADE has significantly increased its commission-free exchange-traded fund (ETF) lineup, all of which is non-proprietary, with the addition of 46 new funds from six providers.

E*TRADE isn’t the only discount brokerage to offer zero-commission ETFs as the company is tussling with rivals to expand low-cost investment products. Big rivals, including Charles Schwab and TD Ameritrade, also announced recently the expansion of its own similar offerings, increasing the total number of ETFs that don’t have a commission attached to them.

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