E*TRADE Review
E*TRADE has been a pioneer in online trading since 1982, making it one of the oldest and most established digital brokerages in the industry. Now part of Morgan Stanley following their 2020 acquisitio...
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Advanced Trading Platforms Lead · Broker Insight · Last reviewed Mar 2026
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Platform Overview
E*TRADE has been a pioneer in online trading since 1982, making it one of the oldest and most established digital brokerages in the industry. Now part of Morgan Stanley following their 2020 acquisition, E*TRADE combines the innovation of a fintech company with the financial strength and resources of a global banking giant. The platform serves over 5 million customers with more than $360 billion in retail client assets. E*TRADE is particularly renowned for its options trading capabilities, offering sophisticated tools, extensive education, and competitive pricing that appeals to both beginners and experienced options traders. The platform provides a well-balanced experience with intuitive mobile apps for casual investors and powerful desktop platforms for active traders. With commission-free stock and ETF trading, robust research tools, comprehensive retirement planning, and excellent options trading features, E*TRADE delivers a complete brokerage experience backed by Morgan Stanley's institutional expertise.
Key Features
Advanced Options Tools
Sophisticated options chains, probability calculator, strategy scanner, and roll features
Power E*TRADE Platform
Professional desktop platform with customizable layouts, advanced charting, and real-time streaming
Morgan Stanley Benefits
Access to Morgan Stanley research, banking services, and institutional-grade resources
Core Portfolios
Automated investing with professionally managed portfolios starting at just 0.30% advisory fee
Mobile Trading
Award-winning mobile apps with full trading capabilities, research, and account management
Retirement Planning
Comprehensive IRA options, 401(k) rollovers, and retirement planning tools with guidance
Fees & Costs
| Stock & ETF Commissions | $0 for stocks, ETFs, and online options trades |
| Options Fees | $0.65 per contract |
| Account Minimum | $0 |
| Margin Rates | 12.00% - 13.50% (varies by balance) |
Fee data manually verified against E*TRADE's official fee schedule. Broker pricing may change — always confirm on the broker's website before opening an account.
Pros & Cons
Pros
- Excellent options trading tools with probability calculator and strategy scanner
- Power E*TRADE platform offers professional-grade features at no extra cost
- Morgan Stanley backing provides financial strength and institutional resources
- User-friendly mobile apps perfect for trading on the go
- Strong retirement account options with comprehensive planning tools
Cons
- Margin rates higher than discount brokers like Interactive Brokers
- Limited cryptocurrency trading compared to newer platforms
- Some advanced features require learning curve
- Mutual fund selection smaller than Fidelity or Schwab
What's New
A history of every update to our E*TRADE review
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Who It's Best For
E*TRADE is ideal for options traders who want sophisticated tools and analysis capabilities, as well as investors who value a balanced platform that works equally well for casual mobile trading and serious desktop analysis. It is perfect for those who want the innovation of a digital broker backed by the stability of Morgan Stanley.
Options Traders
Need advanced options tools and analysis capabilities
Mobile-First Investors
Want powerful mobile trading capabilities with full platform features
IRA Investors
Building retirement wealth with comprehensive IRA and rollover options
E*TRADE vs Top Competitors
How E*TRADE Compares
Fidelity vs E*TRADE (2026)
Both charge $0.65/options contract. Fidelity wins on FZROX, 4.97% auto cash yield, 200+ branches. E*TRADE wins on Power E*TRADE options analytics and volume discount.
E*TRADE vs Fidelity (2026)
Power E*TRADE's options analytics vs Active Trader Pro, Morgan Stanley research vs Fidelity's 20+ providers, and Core Portfolios vs Fidelity Go — full verdict.
E*TRADE vs Charles Schwab (2026)
Power E*TRADE vs thinkorswim, Morgan Stanley backing vs Schwab Bank, options analytics depth, and which platform is better for retirement savers.
Charles Schwab vs Fidelity (2026)
thinkorswim vs Active Trader Pro, ZERO funds, IRA match, margin rates, and banking — with a clear 18-category verdict.
Robinhood vs Fidelity (2026)
$0 options contracts, FZROX expense ratio math, PFOF impact, IRA match comparison, and the cash yield gap — fully worked out.
Robinhood vs Webull (2026)
24-hour trading vs free Level 2 data, paper trading, 50+ indicators, IRA match, and options analytics — the full comparison.
Fidelity vs Vanguard (2026)
FZROX at 0.00% vs VTI at 0.03% — 30-year cost table, Roth IRA & SEP IRA comparison, platform quality, and who actually wins.
Charles Schwab vs Vanguard (2026)
SCHB vs VTI, robo-advisor cost ($0 vs 0.20%), Schwab Bank vs no banking, and the full Schwab/Fidelity/Vanguard triangle explained.
Webull vs Fidelity (2026)
Free Level 2 data and paper trading vs 20+ research providers and ZERO funds — a complete head-to-head on tools, cost, and retirement.
Webull vs Charles Schwab (2026)
Free Level 2 data vs thinkorswim, paper trading options, margin rates, banking features, and which platform grows with you.
9-Part Series
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DRIP, yield & income
Roth IRA
Tax-free retirement accounts
ETF Investing
Low fees & passive investing
Small Accounts
Start investing with $0
Day Trading
Execution & platform quality
Options Trading
Contract fees & Greeks display
Beginners
First IRA setup guide
Long-Term Investing
IRA & buy-and-hold strategy
Crypto Trading
US exchanges, fees & security
Each guide ranks 4–5 brokers head-to-head with a clear verdict.
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Final Verdict
Our Verdict on E*TRADE
E*TRADE excels as a well-rounded broker with particular strength in options trading, combining sophisticated tools with user-friendly interfaces. The Morgan Stanley backing adds credibility and resources, while the platform remains accessible to investors of all levels. If you trade options or want a reliable, full-featured broker with excellent mobile capabilities, E*TRADE is an outstanding choice.
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