Don't be fooled by this introductory offer. Unless you're a day-trader, or are looking to re-balance 100 stocks you might have a hard time capitalizing on the 100 free trades. They're only commission-free for the first 30 days after you open the account and you have to pay upfront for the trades and E*Trade will refund you the cost within 8 weeks.
The no annual IRA fee and no account minimums is also offered by TradeKing.
Below you can see how E*Trade and the other major online brokers compare to TradeKing price-wise:
Stock Trades, TradeKing commissions are less than half E*Trade's:
Options Trading: TradeKing is almost 60% less
Broker Assisted Trades: You'll pay a premium to call in a trade with E*Trade:
E*Trade closed down it's savings account division on March 7, 2010, preferring to focus on generating revenue from it's broker division instead.
So what are the pros to E*Trade?
Well, some users report they like the ease-of-use, and they do have E*Trade Mobile Pro for the Blackberry and the iPhone.
Also, some of their commercials are funny, this one is the best I've seen:
Anyway, if you're looking to open a brokerage account, you need to do you own research and make sure you choose a broker that fits your needs. If you don't trade much, maybe commission costs aren't the most important factor.
So far I've heard nothing but good about TradeKing.