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E*TRADE vs TradeStation 2020

Is E*TRADE better than TradeStation? After testing 15 of the best online brokers over five months, E*TRADE (91.53%) is better than TradeStation (82.4%). Founded in 1982 as one of the first online brokerages in the United States, E*TRADE understands what investors need to succeed in the market. E*TRADE highlights include $0 trades, two excellent mobile apps, and the Power E*TRADE platform, which is great for options trading.

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Overall Rating

Feature E*TRADE TradeStation
Overall 4.5 4
Commissions & Fees 4.5 4.5
Offering of Investments 4.5 4.5
Platforms & Tools 4.5 5
Mobile Trading 5 4.5
Research 4.5 2
Education 4 2.5
Ease of Use 4.5 4
Banking 4 0.5
E*TRADE Review TradeStation Review
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Trading Fees

Feature E*TRADE TradeStation
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.65 $0.50
Mutual Fund Trade Fee $19.99 $14.95
Broker Assisted Trades Fee $25.00 $50.00

Margin Rates

Feature E*TRADE TradeStation
Under $24,999.99 8.95% 9.50%
$25,000.00 to $49,999.99 8.45% 9.50%
$50,000.00 to $99,999.99 7.95% 8.75%
$100,000.00 to $249,999.99 7.45% 8.75%
$250,000.00 to $499,999.99 6.95% 8.75%
$500,000.00 to $999,999.99 6.45% 5.50%
Above $1,000,000.00 5.45% 5.50%

Account Fees

Feature E*TRADE TradeStation
IRA Annual Fee $0.00 $35.00
IRA Closure Fee $60.00 $50.00
Returned ACH Fee $0.00 $25.00
Returned Wire Fee $0.00 $25.00
Stock Certificate Processing Fee $0.00 $150.00
Stock Certificate Delivery Fee $75.00 $15.00
Paper Statement Fee $2.00 $1.00
Paper Confirmation Fee $0.00 $1.00
Domestic Wire Fee $25.00 $25.00
International Wire Fee $25.00 $35.00

Investment Options

Feature E*TRADE TradeStation
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
Yes Yes
Forex Trading
No No
Crypto Trading No Yes
Mutual Funds (No Load)
6584 887
Mutual Funds (Total)
9087 4357
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Advisor Services
Yes No
International Trading
No No

Order Types

Feature E*TRADE TradeStation
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes Yes
Order Type - MultiContingent
No Yes
Order Type - OCO
Yes Yes
Order Type - OTO
Yes Yes
Order Type - OTOCO
Yes Yes

Trading Platforms

Feature E*TRADE TradeStation
Desktop Platform (Windows)
No Yes
Desktop Platform (Mac)
No No
Web Platform
Yes Yes
Paper Trading
Yes Yes
Trade Journal
No No
Watch Lists - Total Fields
95 335
Heat Mapping
No No
AI Assistant Bot
No No

Charting Features

Feature E*TRADE TradeStation
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
119 290
Charting - Drawing Tools
31 23
Charting - Historical Trades
Yes Yes
Charting - Corporate Events
Yes No
Charting - Automated Analysis
Yes No
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
6 12
Charting - Custom Studies
No Yes

Day Trading

Feature E*TRADE TradeStation
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
No Yes
Streaming Time & Sales
Yes Yes
Streaming TV
Yes No
Direct Market Routing - Stocks
Yes Yes
Direct Market Routing - Options
Yes Yes
Ladder Trading
No Yes
Trade Hot Keys
Yes Yes
Level 2 Quotes - Stocks
Yes Yes
Level 2 Quotes - Options
Yes Yes
Trade Ideas - Backtesting
No Yes
Short Locator
No Yes
Order Liquidity Rebates
No Yes

Mobile Trading Apps

Feature E*TRADE TradeStation
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
Yes Yes
Trading - Mutual Funds
Yes No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes

Mobile App Features

Feature E*TRADE TradeStation
Watch List Syncing
Yes Yes
Stock Alerts
Yes Yes
Charting - After Hours
Yes Yes
Charting - Drawing
No Yes
Charting - Study Customizations
Yes Yes
Heatmapping
No No
Stream Live TV
Yes No
Barcode Lookup
Yes No

Research Overview

Feature E*TRADE TradeStation
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes Yes
Research - Fixed Income
Yes No
Screener - Stocks
Yes Yes
Screener - ETFs
Yes No
Screener - Mutual Funds
Yes No
Screener - Options
Yes Yes
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
Yes No

Stock Research

Feature E*TRADE TradeStation
Stock Research - Reports
5 0
Stock Research - Earnings
Yes No
Stock Research - Insiders
Yes No
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
Yes No
Stock Research - Social
Yes No
Stock Research - Balance Sheet
Yes No
Stock Research - Cash Flows
Yes No
Stock Research - News
Yes Yes
Stock Research - ESG
No No

ETF Research

Feature E*TRADE TradeStation
ETFs - Strategy Overview
Yes No
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes No
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
Yes No
ETFs - Reports
Yes No

Mutual Fund Research

Feature E*TRADE TradeStation
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
Yes No
Mutual Funds - Asset Allocation
Yes No
Mutual Funds - Sector Allocation
Yes No
Mutual Funds - Country Allocation
Yes No
Mutual Funds - StyleMap
Yes No
Mutual Funds - 3rd Party Ratings
Yes No

Options Trading

Feature E*TRADE TradeStation
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
30 32
Option Chains - Greeks
5 5
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes Yes
Option Probability Analysis Adv
Yes Yes
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes Yes
Option Positions - Rolling
Yes Yes
Option Positions - Grouping
Yes Yes

Beginners

Feature E*TRADE TradeStation
Education (Stocks)
Yes Yes
Education (ETFs)
Yes No
Education (Options)
Yes Yes
Education (Mutual Funds)
Yes No
Education (Fixed Income)
Yes No
Education (Retirement)
Yes No
Paper Trading
Yes Yes
Videos
Yes Yes
Webinars (Monthly Avg)
25 10
Webinars (Archived)
Yes No
Live Seminars
Yes Yes
Progress Tracking
No No
Interactive Learning - Quizzes
Yes No

Banking

Feature E*TRADE TradeStation
Retail Locations
30 0
Member FDIC
Yes No
Checking Accounts
Yes No
Savings Accounts
Yes No
Credit Cards
Yes No
Debit Cards
Yes No
Mortgage Loans
Yes No
No Fee Banking
No No

Overall

Feature E*TRADE TradeStation
Overall 4.5 4
Commissions & Fees 4.5 4.5
Offering of Investments 4.5 4.5
Platforms & Tools 4.5 5
Mobile Trading 5 4.5
Research 4.5 2
Education 4 2.5
Ease of Use 4.5 4
Banking 4 0.5
E*TRADE Review TradeStation Review
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Comparing brokers side by side is no easy task. For our 2020 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare E*TRADE vs TradeStation.

Is E*TRADE or TradeStation better for beginners?
E*TRADE is better for beginner investors than TradeStation. E*TRADE offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Fixed Income) and Education (Retirement).

What about E*TRADE vs TradeStation pricing?
E*TRADE and TradeStation have equal fees for trading stocks (equities), $0 per trade. With options, the base fee is $0 for both E*TRADE and TradeStation. Option contracts are pricier at E*TRADE, costing $0.65 versus $0.50 at TradeStation. For a complete commissions summary, see our best discount brokers guide.

Does E*TRADE or TradeStation offer a wider range of investment options?
TradeStation offers a more diverse selection of investment options than E*TRADE. TradeStation offers investors access to Stock Trading, OTCBB / Pink Sheets, Options Trading, Mutual Funds and Futures Trading. Looking at Mutual Funds, E*TRADE boasts an offering of 9087 mutual funds compared to TradeStation's 4357 available funds.

Which trading platform is better: E*TRADE or TradeStation?
To compare the trading platforms of both E*TRADE and TradeStation, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TradeStation offers a better experience. With research, E*TRADE offers superior market research. Finally, we found E*TRADE to provide better mobile trading apps.

Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at E*TRADE while customers at TradeStation can have none of these.

Overall, between E*TRADE and TradeStation, E*TRADE is the better online broker.

E*TRADE Review
TradeStation Review

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All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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