E*TRADE Rating: 
Overview of E*TRADE
Since joining Morgan Stanley, E*TRADE has gone through some notable changes—some positive and some less appealing. Here’s a look at where this well-known brokerage stands today:
E*TRADE Pros
Great software: Multiple trading platforms with advanced tools for serious traders and investors.
Good pricing: Several asset classes can be traded with
$0 online commissions.
Wide variety of tax structures: Trading and investing are available in many account types, including tax-advantaged retirement plans.
E*TRADE Cons
Customer support: Service is still broad, but some investors may miss the old branch network and simpler support setup.
Narrow range of investments: Some asset classes are still missing.
Advice has shifted: E*TRADE’s main focus is self-directed investing and digital advice, although eligible clients can still connect with Morgan Stanley Financial Advisors.
E*TRADE Investment Lineups
E*TRADE currently offers robo and self-directed accounts, and eligible customers can also access Morgan Stanley Financial Advisors. The robo program builds and manages diversified ETF portfolios with a
$500 minimum and a
0.30% annual advisory fee.
Self-managed accounts have a much broader menu of ETFs, plus options, stocks, fixed-income products, futures, mutual funds, and closed-end funds. Some assets are still absent, especially direct cryptocurrency trading and foreign stocks. It is possible to trade over-the-counter (OTC) stocks, although they do not fall under the standard
$0 online commission schedule.
E*TRADE offers many tax structures for investment accounts. In addition to the usual individual and joint brokerage accounts, there are several retirement plans, plus Coverdell and custodial accounts.
E*TRADE Commissions and Account Minimum
Opening an E*TRADE investment account in either automated or self-directed form costs nothing. A Core Portfolios robo account does require a
$500 minimum deposit and charges a
0.30% annual management fee. Self-directed accounts have no minimums and no annual maintenance fees.
Those terms are already strong, but the standard online commission schedule is even better. Online trades in U.S.-listed stocks and ETFs cost
$0. OTC securities are excluded from that standard pricing, and broker-assisted trades add
$25 plus any applicable commission.
Options and futures still have per-contract charges. Futures cost
$1.50 per contract, per side, while options cost
$0.65 per contract or
$0.50 for customers who place at least 30 stock, ETF, or options trades per quarter.
E*TRADE has removed its own transaction fee on mutual fund trades. As a result, mutual funds can be bought and sold without an E*TRADE commission, although fund-level expenses and other fund-specific charges can still apply.
Customer Service
E*TRADE still offers online help through live chat and digital support tools, so customers are not limited to automated help alone. The site also has a strong FAQ section and a document-upload tool that helps avoid mailing paperwork in many situations.
Phone service is still available, and E*TRADE continues to provide broad support access around the clock. During our testing of this channel, we have received the quickest service during weekday mornings before 8:00 am, Eastern Standard Time.
The website has many self-help features, and these can be used to handle a wide range of needs. For example, there is a document upload tool that reduces the need to mail in forms. Other tasks that can be completed in the customer-service area include wire requests, beneficiary updates, account linking, market-data subscriptions, and IRA distributions.
A final change at E*TRADE that is rather disappointing is the closure of all of its branch locations.
Computer Software
Managing an account, researching possible investments, and placing trades are all very easy on E*TRADE’s strong website. It includes screeners that simplify the search for stocks and funds. Charts have many tools, and the order ticket includes advanced order types, such as trailing and stop-limit-on-quote orders.
Trading, though not research, steps up another level with Power E*TRADE Web. This browser-based platform has a more advanced feel and runs inside its own tab in the browser. It delivers a large set of trading tools. Charts, for example, offer many plot styles, and the order ticket includes integrated option spreads with clear profit/loss diagrams showing breakeven levels and maximum gain and loss.
The trading experience moves even higher with
Power E*TRADE Pro. This is E*TRADE’s flagship desktop platform. It lives up to the name with a long list of advanced features. During our test drive of the software, we especially liked the fast-entry trade tools. The standard ticket also supports sophisticated order types that can be used for conditional setups, including one-cancels-all orders.
Pro has one important improvement over the old setup: there is no longer a separate
$1,000 account-balance requirement just to access the platform.
Mobile App
Then there is the mobile app lineup. Actually, there are two of them. One is the main E*TRADE app, and the other is the Power E*TRADE app. As its name implies, the Power app is built for more active trading. It is also the app that can be used for futures trading.
Power delivers Buzz Scores on popular stocks. A Buzz Score is a social-sentiment measure that tracks unusual changes in online discussion and related activity. News, Level II quotes, time & sales data, a futures ladder, and mobile check deposit are some of the other tools available inside the app.
The main app supports mutual fund trading, which Power still does not. The regular app also includes watchlists, market news, research tools, and account management features for brokerage, retirement, and bank accounts. Charting is available in horizontal mode with several useful tools.
Margin
Besides cash trading, E*TRADE offers margin trading, at least for self-directed accounts. It’s very easy to upgrade a cash account on the website, which also includes a margin calculator (Pro has one as well).
Margin rates are competitive but not outstanding. They range from 12.45%
for debit balances below $10k to 10.45% for balances above $250k.
Connect with a Local Financial Professional
Managing your wealth requires time, interest, and specialized skill. If you are looking for
localized financial planning tailored to your unique retirement goals, you can
match with up to three pre-screened advisors via WiserAdvisor.
Cash Management
Borrowing money to buy securities is only part of E*TRADE’s cash toolkit. Through Morgan Stanley Private Bank, there are several bank products that can be linked to a robo or self-directed account. These start with a standard checking account and extend to savings and the Max-Rate checking account. FDIC coverage is available on these accounts, and Max-Rate Checking comes with ATM and foreign transaction fee refunds worldwide, although it has a
$15 monthly fee that can be waived with a
$5,000 average monthly balance. Both checking accounts come with bill pay and a debit card.
A line of credit is another banking service offered through Morgan Stanley Private Bank. With it, clients can borrow cash against eligible securities held in a brokerage account.
A Morgan Stanley Private Bank deposit account can be linked to an E*TRADE investment account for easier cash movement. Transfers are simple to complete.
Additional Services
Individual Retirement Accounts: At E*TRADE, investors will find a large assortment of IRA
types, including small business accounts and an IRA for minors. There are no annual IRA maintenance fees, although certain service and transfer fees can still apply.
Robinhood
with no annual IRA fee and a 1% contribution match, is the better option.
Extended Hours: In addition to the regular session, E*TRADE customers can trade during pre-market and after-hours sessions. The main extended-hours window runs from
7 am to 8 pm ET, and E*TRADE also offers overnight trading in a short list of ETFs. Those selected ETFs can trade from
Sunday 8 pm to Friday 8 pm ET. Futures contracts trade
24/6.
IPO Access: Available on the website (look under the ‘Trading’ tab).
Stock-Lending Income Program: E*TRADE clients with eligible IRA, cash, or margin accounts and at least
$200,000 in liquid net worth or assets under management can potentially earn income by lending out fully paid securities
(look under the ‘What We Offer’ tab).
Fractional-share Trading: Available for ETFs through Automatic Investing, with a minimum of
$25.
Dividend Reinvestment Plan: Available (look under the ‘Accounts’ tab to enroll an entire account).
Recurring Mutual Fund Purchases: Possible on many eligible mutual funds, although not every fund on the platform qualifies.
Recommendations
Long-Term Investors and Retirement Savers: With self-employed 401k plans, lifecycle mutual
funds, and a long list of IRAs, E*TRADE looks like a decent choice. It also offers access to Morgan Stanley Financial Advisors for eligible clients, although investors who want a larger traditional branch network may still prefer
Charles Schwab.
Beginners: E*TRADE’s automated-investing service would be a good start.
Mutual Funds: E*TRADE is a very good brokerage firm for mutual funds. It has an effective
screener and pre-screened funds called All-Star funds. Firstrade, however, offers 11,000+
mutual funds free of charge.
Active Stock and ETF Trading: Definitely Power E*TRADE Web and Power E*TRADE Pro.
Small Accounts: Although $500 isn’t too much, other investment firms have smaller requirements
for their robo accounts. Webull, for example, only requires $100. Self-directed traders will be in good hands at E*TRADE with no minimums and no on-going fees.
E*TRADE Review Summary
Although there are still some weak spots and a few changes that longtime customers may not love, E*TRADE continues to do a very good job overall, especially for active stock and options traders.
E*TRADE Commissions
| Investments | Price |
|---|
| Stocks and ETFs | $0 |
| Stocks and ETFs broker assisted | add $25 |
| Options | $0.65 per contract (0-30 trades/quarter) or $0.50 (30+ trades/quarter) |
| Mutual funds | $0 |
| Futures contracts | $1.50 per contract, per side + fees |
| Fixed Income | markup or markdown and any transaction fee will be included in the price quoted |
| Bonds | $1 per bond (minimum $10, maximum $250) for online secondary market trades. Includes Agency bonds, Corporate bonds, Municipal bonds, Brokered CDs, Pass-thrus, CMOs, Asset Backed Securities. |
E*TRADE Account Fees
| Fee | Amount |
|---|
| IRA Setup Fee | $0 |
| Annual IRA Fee | $0 |
| IRA Closing Fee | $75 |
| Full Account Transfer Out | $75 |
| Partial Account Transfer Out | $25 |
| Outgoing Wire Fees (Domestic) | $25 |
| Outgoing Wire Fees (International) | $25 |
Updated on 4/14/2026.