E*TRADE Review

Written by Jessica Inskip
Edited by Jeff Anberg
Reviewed by Blain Reinkensmeyer

July 01, 2025

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Jessica Inskip

Jessica Inskip is Director of Investor Research at StockBrokers.com, bringing 15 years of experience in brokerage and trading strategy. Jessica focuses on investor education and brokerage industry research.

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E*TRADE from Morgan Stanley is a versatile broker that appeals to investors of all levels, from beginners buying their first stock to experienced traders in need of advanced tools and research. My hands-on experience with E*TRADE’s platforms and trading tools left me confident that it offers something valuable for every type of investor.

E*TRADE offers access to professional-grade research, innovative tools, and a seamless trading experience. Whether exploring thematic ETFs, analyzing stocks with Trefis visualizations, or managing your portfolio with Morningstar’s tools, E*TRADE provides clarity and control to self-directed investors.

verified#1 Web Trading Platform

• Minimum Deposit: $0.00
• Stock Trades: $0.00
• Options (Per Contract): $0.65

Ratings Awards Historical Rankings

5.0

OVERALL SCORE info

Range of Investments
Mobile Trading Apps
Platforms & Tools
Research
Education
Ease of Use
Customer Service

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Table of Contents

Pros & cons

My top takeaways for E*TRADE in 2025:

• Comprehensive research and screeners: E*TRADE excels in research with features like Trefis revenue visualizations, intuitive screeners, and thematic investing tools. Investors can uncover opportunities across stocks, funds, and fixed income with a seamless blend of data and contextual education.
• Exceptional education and resources: E*TRADE provides a wealth of well-crafted educational content across asset classes, supported by live and on-demand webinars. While the structure of some resources could improve, the inclusion of unique insights, such as market mechanics for ETFs and fixed income, demonstrates a thoughtful approach to empowering investors.
• User-friendly platforms: From the intuitive E*TRADE Mobile app to the feature-rich Power E*TRADE platform, E*TRADE caters to both casual investors and advanced traders. Tools like customizable charts, live-action scanners, and integrated portfolio tracking ensure flexibility and depth, making it a versatile choice for a wide range of users.

Range of investments

When considering the investment options I need from my brokerage firm, I focus on aligning my needs with the diversification of my portfolio. E*TRADE offers a solid foundation for diversification, catering to both beginners starting their investment journey and seasoned investors refining their strategies.

Investment products: E*TRADE stands out by providing access to a broad spectrum of investment products and account types, tailored to support a diversified portfolio strategy. Its offerings include stocks, ETFs, mutual funds, options, fixed-income products (bonds and CDs), and futures. This comprehensive lineup ensures investors can balance risk and reward while achieving diversification across multiple asset classes.

Fixed-income: E*TRADE’s fixed-income tools are particularly noteworthy, with features like a yield curve visualization that simplifies identifying and acting on opportunities. With today’s changing markets, interest rates are back in the spotlight — something we haven’t truly seen since the global financial crisis of 2008.

Account types: Equally impressive is the variety of account types E*TRADE provides, including traditional IRAs, Roth IRAs, SEP IRAs, custodial accounts for minors, and even business and trust account types. This flexibility allows investors to diversify not just within their portfolios but also across their financial goals—whether saving for retirement or building wealth for future generations.

Gaps: That said, E*TRADE isn’t without gaps. E*TRADE does not offer fractional share trading on individual stocks (although ETFs are offered). Additionally, the absence of cryptocurrency trading may be a drawback for investors looking to diversify into digital assets — a high-risk but increasingly popular asset class.

Feature	E*TRADE
Stock Trading info	Yes
Margin Trading info	Yes
Fractional Shares info	No
OTC Stocks info	Yes
Options Trading info	Yes
Complex Options Max Legs info	4
Bonds (US Treasury) info	Yes
Futures Trading info	Yes
Forex Trading info	No
Mutual Funds (Total) info	7242
Crypto Trading info	No
Crypto Trading - Total Coins info	0
Traditional IRAs info	Yes
Roth IRAs info	Yes
Advisor Services info	Yes

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E*TRADE fees

Evaluating commissions and fees is crucial when selecting a broker, as excessive costs can chip away at your portfolio. E*TRADE strikes a good balance with a transparent pricing structure and thoughtful features like no-fee Treasuries and its Dime Buyback program.

Stock and ETF commissions are in line with the industry standard. Zero-dollar commissions on stocks and ETFs are the industry norm now, and E*TRADE follows suit. In my view, brokers no longer win clients on stock and ETF commissions — they win them with tools and features. E*TRADE offers some great research capabilities and trading tools, which this review will cover extensively.

Options pricing offers competitive pricing with the dime buyback program. Options contracts are priced at $0.65 each, dropping to $0.50 for traders completing 30 or more trades per quarter. This is on par with industry norms. However, what truly sets E*TRADE apart is the Dime Buyback program, which waives commissions for closing short options priced at $0.10 or less. As someone who sells premium and trades options actively, I can’t overstate how valuable this feature is. Keeping short options open means keeping risk on the table, and the Dime Buyback program encourages traders to close out positions at minimal cost, reducing exposure while locking in gains.

Fixed Income pricing is fee efficient, especially regarding Treasurys. E*TRADE offers fee-free access to Treasury securities, both through new issue auctions and the secondary market. This feature couldn’t be more timely, given the higher yields driven by recent Federal Reserve rate hikes. For other fixed-income products, like corporate and municipal bonds, the cost is $1 per bond with a $10 minimum and a $250 maximum per trade — a reasonable structure for bond investors.

Mutual Funds are priced with a wide offering of no-fees. No-fee mutual fund trading is a standout feature for E*TRADE, and the lack of early redemption fees makes it particularly attractive for fund investors. Mutual fund fees have the most variance broker to broker as fund companies have individual agreements with each brokerage firm.

OTC Stocks and Penny Stocks come with a price. E*TRADE charges $6.95 per trade for over-the-counter (OTC) stocks priced under $1.00, dropping to $4.95 with 30 or more trades per quarter. While some brokers like Fidelity and Firstrade offer commission-free penny stock trading, E*TRADE’s fees align with its overall risk-centered structure. OTC stocks, often referred to as penny stocks, are inherently risky due to less stringent listing requirements. As fractional trading becomes more widespread (albeit limited to certain ETFs on E*TRADE), penny stocks are becoming less relevant for many investors.

There are additional fees to consider. E*TRADE includes free real-time streaming quotes for accounts with a minimum balance of $10,000, but it does charge miscellaneous fees for corporate actions like mergers, stock splits, or tender offers. These fees reflect the added administrative costs associated with these actions but can be a minor annoyance for active traders.

Feature	E*TRADE
Minimum Deposit info	$0.00
Stock Trades info	$0.00
Penny Stock Fees (OTC) info	$6.95 info
ETF Trade Fee info	$0.00
Options (Per Contract) info	$0.65
Options Exercise Fee info	$0.00
Options Assignment Fee info	$0.00
Futures (Per Contract) info	$1.50
Mutual Fund Trade Fee info	$0.00
Broker Assisted Trade Fee info	$25

Mobile trading apps

E*TRADE takes a unique and thoughtful approach to mobile investing by offering two distinct apps: its flagship app for everyday investors and the Power E*TRADE Mobile app for advanced and active traders. I personally appreciate this separation because data can easily overwhelm new investors, and visually condensing market information to suit everyone’s needs is no small task. Every investor is different, and this dual approach allows E*TRADE to cater to a broader audience without sacrificing usability.

When I evaluate a mobile app, I like to approach it from the perspective of various types of investors and ask a few key questions:

Can I get a quick pulse on the market? E*TRADE’s flagship app organizes market data into categories like Overview, Events, News, and Screeners. I loved being able to see major upcoming earnings and economic events at a glance. For example, I could quickly identify key earnings dates and other market-moving events. However, when PPI data was released that morning, I couldn’t find the actual numbers, which was disappointing, but thankfully the integrated news solved my curiosity. While the app provides a solid foundation for market awareness, it could go a step further by integrating real-time data for critical economic events.

What’s the research and watchlist experience like? The flagship app’s watchlist is highly customizable, with multiple views to suit different preferences. I liked how I could narrow down the news feed to focus specifically on the stocks in my watchlist, and the grid-like layout made it easy to absorb key information quickly. When researching individual stocks, I found everything I needed at my fingertips: earnings dates, detailed research, and the ability to set alerts directly from the app.

Does the app offer advanced tools for active traders? For those who need more sophisticated tools, the Power E*TRADE Mobile app delivers. The Live Action Scanner distinguishes itself by providing predefined screeners to quickly spot unusual activity, volatility, or technical patterns. The charting tools are also impressive, with over 100 technical indicators and flexible navigation options like panning and scrubbing. The inclusion of contingent orders directly on the mobile app is another feature that advanced traders will appreciate, making it easier to execute complex strategies on the go.

Power E*TRADE’s mobile app delivers advanced charting tools designed for active traders on the go. This customized view shows a candlestick chart with 13, 26, and 40-week moving averages applied. The platform makes it easy to personalize technical charts and monitor market momentum from your phone.

Feature	E*TRADE
iPhone App info	Yes
Android App info	Yes
Apple Watch App info	Yes
Stock Alerts info	Yes
Charting - After-Hours info	Yes
Charting - Technical Studies info	107
Charting - Study Customizations info	Yes
Watch List (Streaming) info	Yes
Watch Lists - Create & Manage info	Yes
Watch Lists - Column Customization info	Yes

Trading platforms

When evaluating a larger brokerage firm like E*TRADE, I expect more than just research and idea generation. Platforms and tools should go beyond the basics to include portfolio management, benchmarking against the market or a chosen index, and resources that extend beyond stocks and ETFs. As a self-directed investor, I also look for robust tax tools, proactive reminders like adding a beneficiary, and timely market insights to keep me informed and engaged. Let’s face it, if you’re managing your investments independently, you need tools that make the self-directed route easier and more effective.

Jessica's take:

"E*TRADE’s landing page sets the tone perfectly. It offers a clear view of positions, market updates, and investing ideas — all in one place. I loved the placement of their podcast, which immediately grabbed my attention with the headline, 'Why money markets are not cash on the sidelines.' It was so compelling that I subscribed on the spot."

Jessica Inskip

Portfolio management tools are a highlight of E*TRADE’s platform. The ability to compare my portfolio’s performance to a benchmark of my choice provided a clear perspective on how I’m doing relative to the market. A deeper dive into asset allocation is powered by Morningstar, offering comparisons to recommended weights and tailored guidance based on your personal risk tolerance.

Power E*TRADE’s snapshot analysis makes options trading more approachable by visually mapping out key outcomes like max gain, max loss, and breakeven. In this example of purchasing a long call, the platform uses intuitive smiley face icons to highlight these critical points, adding a touch of fun to a typically complex strategy. It’s a great way to help traders quickly grasp potential risk and reward.

E*TRADE also provides a range of tools and calculators that go beyond portfolio tracking. The retirement score calculator stood out for me, incorporating social security benefits and external accounts to provide a comprehensive picture of retirement readiness. While the score was helpful, I would have preferred a breakdown of total savings and cash flow for a more actionable view (if I can be a bit picky). Still, you will not find these types of tools at all on brokers like Robinhood or Webull, yet they make financial planning practical and informative.

E*TRADE even has easy-to-use account maintenance and tax-related tools. The dedicated tax center provides contextual FAQs that simplify understanding taxable events — a must-have for self-directed investors. The platform also allows you to toggle wash sale adjustments, an essential feature, particularly in retirement accounts where tax cost basis is less critical. On top of that, E*TRADE flagged that I didn’t have a beneficiary right on the landing page and made it incredibly easy to update. These proactive and seamless touches set E*TRADE apart from many of its competitors.

Feature	E*TRADE
Active Trading Platform info	Power E*TRADE
Desktop Trading Platform info	No
Desktop Platform (Mac) info	No
Web Trading Platform info	Yes
Paper Trading info	Yes
Trade Journal info	No
Watch Lists - Total Fields info	43
Charting - Indicators / Studies info	121
Charting - Drawing Tools info	37
Charting - Study Customizations info	8
Charting - Save Profiles info	Yes
Trade Ideas - Technical Analysis info	Yes
Streaming Time & Sales info	Yes
Trade Ideas - Backtesting info	No

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Research

When I look for a holistic research platform, I want a tool that can take me through the entire journey of investing: from finding ideas to validating them, layering in the macro view, and finally, hearing an expert opinion. E*TRADE excels at guiding investors through this process with its well-rounded research tools, placing particular emphasis on intuitive data visualization.

Finding Ideas

E*TRADE’s stock screener is one of the most practical and comprehensive tools I’ve used. I tested the traditional version and was able to screen for stocks in the S&P 500 with below-industry forward P/E ratios and positive earnings and revenue expectations — exactly the right data for picking a stock. For those who do not have a process, there are predefined screens based on a plethora of technical or fundamental inputs. There was even a separate tab for thematic investing (limited to ETFs), making it a great tool for idea generation. This screener is truly useful and will be a go-to resource for me.

Power E*TRADE’s market breadth tool offers a clear snapshot of advancers and decliners across the Nasdaq and NYSE, helping traders gauge overall market strength. With visual breakdowns of new highs and lows, plus exchange volume metrics, it’s a powerful data visualization tool for understanding market momentum at a glance.

Moving on to funds, the fund screener offered solutions for every type of fund I searched for, whether by category, theme, or a more traditional approach. I particularly appreciated the ability to construct a portfolio based on risk tolerance using ETFs — some of which are eligible for auto-investment, a fantastic feature for hands-off, passive investors.

For fixed income, E*TRADE also provides an impressive and innovative screener. I loved the yield curve visualization, which allowed me to choose investments directly from the curve — an intuitive feature in an area that can often feel overwhelming.

Validating Ideas

E*TRADE makes validating investment ideas straightforward by combining data visualization with smart text. For stocks, all the detailed data is there, but you don’t need to know how to interpret it — visuals and contextual explanations do the heavy lifting for you. Whether you prefer the data-heavy or visual-driven way to validate your ideas, E*TRADE offers both.

For funds, I could quickly grasp the intent of a fund and access all the expected data points. But here’s the gem: a histogram chart that displays the AUM (assets under management), illustrating market sentiment. Are investors pouring into or selling out of a specific ETF? You can see it right on E*TRADE’s platform. This feature adds another layer of insight that’s as practical as it is impressive.

Layering on the Macro (Researching the Market)

E*TRADE’s macro research tools made it easy to connect individual investments to broader market trends. The U.S. markets page was incredibly holistic, offering insights into major indices, yields, sector performance, and even earnings and economic calendars. I loved being able to see advances/declines and new highs/lows, which helped me interpret market moves. For instance, during testing, when the market began to sell off, I used these tools to confirm that the pullback was profit-taking rather than a deeper issue (like possibly overhyped AI companies).

Additionally, if I wanted to dive even deeper into the market, the sector comparison feature, enriched with fundamental data, gave me another layer of understanding about market dynamics.

Finally, I cannot discuss E*TRADE’s research offering without shedding light on the expert opinions powered by Morgan Stanley’s institutional-grade research. E*TRADE’s partnership with Morgan Stanley brings a polished and opinion-driven perspective to its research. The market dashboard is beautifully curated, presenting expert takes on key topics without room for distraction — you can explore this for hours. I did.

Feature	E*TRADE
Research - Stocks info	Yes
Stock Research - ESG info	No
Stock Research - PDF Reports info	8
Screener - Stocks info	Yes
Research - ETFs info	Yes
Screener - ETFs info	Yes
Research - Mutual Funds info	Yes
Screener - Mutual Funds info	Yes
Research - Pink Sheets / OTCBB info	Yes
Research - Bonds info	Yes

Education

E*TRADE’s education offerings have the potential to be exceptional but miss the mark in some areas. With undeniably high-quality content, a more cohesive organization and the addition of visual aids — particularly for options education — would make it even easier for investors to engage with and apply their knowledge effectively. When it comes to education, E*TRADE delivers what you’d expect from a large brokerage firm: a lot of it. But quantity alone isn’t enough. What truly matters is the quality of the content, the variety of topics, and the ability to bridge education with practical application. E*TRADE meets these expectations with polished videos, comprehensive articles, webinars, and resources covering everything from stocks to fixed income.

E*TRADE’s investor education includes practical articles that explain foundational concepts like risk tolerance and asset allocation. This example focuses on an aggressive growth portfolio, showing that true diversification goes beyond just owning stocks. E*TRADE helps investors understand how to balance risk and reward across multiple asset classes.

E*TRADE’s educational content is insightful and well-written, but the way it’s displayed can feel chaotic. For instance, articles on "what to know before picking a stock" sit alongside guides on "how to day trade," which might overwhelm new investors. That said, the material itself is excellent. Live and on-demand webinars cover a wide range of topics, offering flexibility for investors to learn at their own pace.

The quality and depth of E*TRADE’s content are especially impressive when it comes to funds and fixed income. I loved the deep dive into leveraged and inverse ETFs, along with an exploration of how market mechanics impact ETFs more than mutual funds, a nuance often missing in other educational resources. The fixed-income library is equally strong, breaking down bonds, CDs, and the factors influencing their market performance. Detailed explanations of terminology and trading strategies make the material accessible and practical, helping investors understand why fixed income deserves a spot in their portfolio.

Options education stands out for its logical progression and polished videos. It was refreshing to see a well-structured path for learning about a complex topic, starting with a webinar registration and leading into relevant articles. However, the content is text-heavy, and I would love to see more visuals and graphics to illustrate concepts like puts and calls. For example, describing puts as a form of protection is misleading as they’re only protective when paired with an underlying asset.

Feature	E*TRADE
Education (Stocks) info	Yes
Education (ETFs) info	Yes
Education (Options) info	Yes
Education (Mutual Funds) info	Yes
Education (Bonds) info	Yes
Education (Retirement) info	Yes
Paper Trading info	Yes
Videos info	Yes
Webinars info	Yes
Webinars (Archived) info	Yes
Progress Tracking info	No
Interactive Learning - Quizzes info	No

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Customer service

To score Customer Service, StockBrokers.com partners with customer experience research firm Confero to conduct phone tests from locations throughout the United States. For this year's testing, 130 customer service tests were conducted over six weeks, with wait times logged for each call.

Customer service representatives were asked for assistance or details in several areas of broker services for prospective customers, including account opening, trading tools, apps, rollovers, active trading, and more. Here are the results for E*TRADE.

• Average Connection Time: 2 minutes
• Average Net Promoter Score: 8.4 / 10
• Average Professionalism Score: 7.3 / 10
• Overall Score: 7.76 / 10
• Ranking: 7th of 13 brokers

Banking services

E*TRADE, through Morgan Stanley Private Bank, offers FDIC-insured checking and savings accounts with no ATM fees, plus debit cards. Integrated with brokerage accounts, these services simplify cash management for investors. While practical, the offerings lack the depth of competitors like Bank of America’s Merrill Edge, which provides more in-depth banking options.

Feature	E*TRADE
Bank (Member FDIC) info	Yes
Checking Accounts info	Yes
Savings Accounts info	Yes
Credit Cards info	Yes
Debit Cards info	Yes
Mortgage Loans info	Yes

Final thoughts

E*TRADE strikes a solid balance between functionality and accessibility, making it a strong contender for self-directed investors across experience levels. Backed by Morgan Stanley, E*TRADE offers superb tools, diverse investment options, and comprehensive research.

Overall, I found E*TRADE to be a versatile platform that supports a variety of investing and trading needs while providing the tools and education that investors need to make confident decisions.

E*TRADE Star Ratings

Feature	E*TRADE
Overall
Range of Investments
Mobile Trading Apps
Platforms & Tools
Research
Customer Service
Education
Ease of Use

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About the Editorial Team

Jessica Inskip is Director of Investor Research at StockBrokers.com, bringing 15 years of experience in brokerage and trading strategy. A former FINRA-licensed rep, she held Series 7, 63, 66, and 4 licenses. Jessica focuses on investor education and brokerage industry research, appears regularly on CNBC, Fox Business, and Bloomberg, and hosts the Market MakeHer podcast.

Jeff Anberg is a Senior Editor at StockBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.