E*Trade Reports Monthly Metrics

E*Trade Financial Corp. (NASDAQ: ETFC) reported today that their Daily Average Revenue Trades (DARTs) fell 14% year over year for the quarter, but increased month over month by 17%.

E*Trade said it added 17,627 U.S. brokerage accounts in April, bringing its customer base to 2.6 million. Prior-year growth was 31,524. Total customer assets were up 36% from a year ago at $162.4 billion. Assets rose 2.3% from the prior quarter.

The company reported client inflows of $700 million, down from $900 million a year ago and $1 billion in March.

E*Trade, among others online brokers, followed Charles Schwab Corp. (NYSE: SCHW) at the beginning of this year in lowering their trading commissions schedules to reflect flat rate fees and drum up further account growth.

Shares of E*trade were higher on the session by 0.67%, currently trading $1.50.

I am long ETFC.