ETRADE was one of the original online brokerages, founded in 1982 — long before most Americans had internet access. After its 2020 acquisition by Morgan Stanley, ETRADE now combines decades of self-directed trading tools with institutional research and wealth management backing. This review covers accounts, fees, the Power ETRADE platform, and who should use ETRADE in 2026.
Bottom line: ETRADE is best for options traders who want Power ETRADE’s advanced tools and for investors who value Morgan Stanley’s research depth. For pure buy-and-hold indexing, Fidelity and Vanguard are simpler and cheaper on fund costs.
E*TRADE at a Glance
Feature
Details
Stock/ETF commissions
$0
Options
$0 + $0.65/contract ($0.50 for 30+/quarter)
Mutual fund commissions
$0 (no-transaction-fee list), $19.99 (others)
Account minimum
$0 (brokerage), $500 (Core Portfolios robo)
Fractional shares
No (except through dividend reinvestment)
Crypto trading
No (futures on crypto available)
Mobile app
4.7/5 (iOS), 4.4/5 (Android)
Desktop platform
Power E*TRADE (web-based and app)
Physical locations
~30 branches (limited)
Customer service
Phone 24/7, live chat, in-person
Robo-advisor
Core Portfolios (0.30% fee, $500 min)
Parent company
Morgan Stanley (acquired 2020)
The Morgan Stanley Advantage
Since the acquisition, E*TRADE customers have gained:
Feature
Details
Morgan Stanley research
Institutional-grade stock and market analysis
Wealth management access
Referral path to Morgan Stanley advisors
Enhanced cash management
Morgan Stanley Private Bank checking
Stability
Backed by a $150B+ market cap institution
The brand remains E*TRADE, but the resources behind it are significantly larger.
Accounts Available
Account Type
Available
Notes
Individual brokerage
✅
—
Joint brokerage
✅
—
Traditional IRA
✅
—
Roth IRA
✅
—
SEP-IRA
✅
—
SIMPLE IRA
✅
—
Solo 401(k)
❌
Not available
529 plan
❌
Not available
HSA
❌
Not available
Custodial (UGMA/UTMA)
✅
—
Trust
✅
—
Checking account
✅
Via Morgan Stanley Private Bank
Investment Options
Trading Capabilities
Asset
Available
Commissions
US stocks
✅
$0
ETFs
✅
$0
Mutual funds
✅
$0 (NTF) to $19.99
Options
✅
$0.65/contract
Bonds / fixed income
✅
$1/bond ($10 min)
Futures
✅
$1.50/contract
Crypto
❌
—
International stocks
Limited
Via ADRs only
Mutual Fund Minimums
Fund Type
Minimum
No-transaction-fee funds
$500 - $2,500 (varies)
Transaction-fee funds
$500 - $2,500 + $19.99 per trade
E*TRADE proprietary ETFs
$0
This is a notable disadvantage compared to Fidelity ($0 minimums across the board).
Power E*TRADE Platform
Power ETRADE is ETRADE’s advanced trading platform, available as a web-based tool and a dedicated mobile app.
Feature
Rating
Options chain analysis
Excellent — full Greeks, IV, probability
Strategy builder
Excellent — multi-leg strategies with P/L graphs
Charting
Very good — 100+ studies, multi-timeframe
Screening tools
Good — stock and ETF screeners
Real-time data
Yes — streaming quotes and Level 2
Paper trading
Yes — practice with virtual money
Risk analysis
Very good — portfolio-level Greeks, what-if scenarios
Overall
4.5/5 for options; 3.5/5 for long-term investing
Power E*TRADE vs Competitors
Feature
Power E*TRADE
thinkorswim (Schwab)
Active Trader Pro (Fidelity)
Options tools
Excellent
Excellent
Good
Charting
Very good
Excellent
Good
Ease of use
Better
More complex
Moderate
Real-time data
Yes
Yes
Yes
Paper trading
Yes
Yes
No
Futures
Yes
Yes
No
Best for
Options traders
Power users
Casual active traders
Fees Breakdown
Fee
Amount
Stocks / ETFs
$0
Options
$0.65/contract ($0.50 if 30+ trades/quarter)
Mutual funds (NTF list)
$0
Mutual funds (others)
$19.99
Bonds
$1/bond ($10 min)
Futures
$1.50/contract
Account maintenance
$0
IRA closure
$0
Wire transfer (outgoing)
$25
Paper statements
$2/month
Account transfer (ACAT out)
$75
Core Portfolios (Robo-Advisor)
Feature
Details
Management fee
0.30% annually
Account minimum
$500
Investment approach
ETF-based portfolios
Tax-loss harvesting
Available in taxable accounts
Socially responsible options
Yes (SRI portfolios)
Automatic rebalancing
Yes
Human advisor access
No (separate Morgan Stanley service)
At 0.30%, Core Portfolios is more expensive than Vanguard Digital Advisor (0.20%) and Schwab Intelligent Portfolios (0.00%), but the $500 minimum is lower than Vanguard’s $3,000.
Pros and Cons
Pros
Advantage
Why It Matters
Power E*TRADE platform
One of the best options trading platforms available
$0 stock/ETF commissions
Industry standard, well executed
Morgan Stanley research
Institutional-grade analysis for retail investors
24/7 phone support
Available around the clock
Paper trading
Practice strategies without risk
Futures access
Available alongside stocks/options
Checking account
Consolidate banking and investing
Volume options discount
$0.50/contract at 30+ trades/quarter
Cons
Drawback
Impact
No fractional shares
Can’t buy partial shares of expensive stocks
No crypto
Must use another platform
No HSA or 529
Gaps in account types
$500+ mutual fund minimums
Higher than Fidelity’s $0
No Solo 401(k)
Self-employed investors need to go elsewhere
Higher robo fee (0.30%)
More expensive than Vanguard (0.20%) or Schwab ($0)
WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.
The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy
