E*TRADE
us.etrade.com
Morgan Stanley's online broker: $0 stock and ETF trades, $0.65 options contracts ($0.50 for active traders), futures, and the Power E*TRADE platform.
What it is
E*TRADE, owned by Morgan Stanley, is a full-service online broker for US investors. It offers stocks, ETFs, options, futures, mutual funds, bonds and CDs, and crypto, alongside retirement accounts and banking through Morgan Stanley Private Bank. There is no account minimum and no monthly account fee, and fractional shares can be bought from $5.
Online US-listed stock, ETF and options trades carry no commission. Options cost $0.65 per contract, falling to $0.50 for customers who make 30 or more trades a quarter, and short options closed at 10 cents or less carry no contract fee. Futures cost $1.50 per contract per side plus exchange fees, and crypto trades carry a 0.50% commission charged by zerohash. OTC stocks, broker-assisted trades and margin are priced separately, and margin rates start at 12.45% on debit balances under $10,000.
Active traders mostly use Power E*TRADE, available in a browser, as a desktop app for Windows and Mac (Power E*TRADE Pro) and on mobile. It adds pattern recognition, an earnings move analyzer, options risk/reward analysis, preset and custom scans, 145+ chart studies and paper trading. The older E*TRADE Pro desktop platform is being retired in favour of these.
Key features
- Power E*TRADE
- Web platform for active traders with 145+ chart studies, automatic support and resistance lines, pattern recognition and trading from the chart.
- Power E*TRADE Pro
- Downloadable desktop platform for Windows and Mac, launched from the account's Launch Pad, for stocks, ETFs, options and futures.
- Options tools
- Earnings move analyzer comparing implied and historical moves, Snapshot risk/reward probabilities, and four-legged and custom spreads on mobile.
- Paper trading
- Practise strategies without real money in Power E*TRADE and its mobile app.
- Futures and crypto
- Futures at $1.50 per contract per side plus fees; crypto trading through zerohash at 0.50% of trade value.
- Extended and overnight hours
- 24-hour trading, five days a week, on a set of widely traded ETFs.
- Banking and retirement
- IRAs and Morgan Stanley Private Bank savings, checking and CDs alongside the brokerage account.
Pricing
| Plan | Price | What you get |
|---|---|---|
| Stocks and ETFs | $0 | Online trades of US exchange-listed stocks and ETFs |
| Options | $0.65/contract | $0.50/contract with 30+ trades a quarter; no fee to close short options priced at 10¢ or less |
| Futures | $1.50/contract per side | Plus exchange and NFA fees |
| Crypto | 0.50% of trade value | Charged by zerohash |
| OTC stocks | $6.95/trade | $4.95 with 30+ trades a quarter |
No account minimum or monthly fee. Broker-assisted trades add $25. Options regulatory fees apply. Margin rates run from 12.45% (under $10,000) down to 10.45% ($250,000 to $499,999.99), based on a 9.95% base rate.
Free option: No account minimum or monthly fee; all platforms, including Power E*TRADE, paper trading and research, come with the account at no extra cost.
Checked September 25, 2026 on us.etrade.com. Prices change; confirm on the provider's site before you subscribe.
Strengths
- Stocks, options, futures, bonds, mutual funds and crypto in one account
- Power E*TRADE on web, Windows and Mac desktop, and mobile
- Options contract fee drops to $0.50 for 30+ trades a quarter
- Earnings move analyzer and risk/reward probabilities built into the platform
- Banking and retirement accounts through Morgan Stanley in the same place
Limitations
- The $0.65 options contract fee is higher than at brokers that charge nothing per contract
- Margin rates start at 12.45% for balances under $10,000
- OTC stock trades cost $6.95 each ($4.95 for active traders)
- The older E*TRADE Pro desktop platform is being retired, so its users must move to another platform
- Crypto trades carry a 0.50% commission
Good fit for
- Options and futures traders who want one broker with a capable platform
- Investors who want banking and retirement accounts beside a trading account
- Active traders placing 30+ trades a quarter
Look elsewhere if
- Options traders focused on the lowest per-contract cost
- Traders outside the US
Compare
Alternatives to E*TRADE
E*TRADE questions
How much does E*TRADE charge for options?
$0.65 per contract with no commission, or $0.50 per contract if you make 30 or more trades a quarter. Regulatory fees apply.
Does E*TRADE have a minimum deposit?
No. There is no account minimum and no monthly account fee.
What is Power E*TRADE?
E*TRADE's platform for active traders, available in a browser, as the Power E*TRADE Pro desktop app for Windows and Mac, and as a mobile app, with charting, scans, options analysis and paper trading.
Can you trade futures on E*TRADE?
Yes, at $1.50 per contract per side plus exchange and NFA fees.
Does E*TRADE offer fractional shares?
Yes. Eligible stocks can be bought in fractions down to three decimals, with a $5 minimum order.
Written from E*TRADE's own website and documentation. All Trading Tools lists and compares tools; it does not recommend trades or give financial advice. Sources: us.etrade.com, us.etrade.com/what-we-offer/pricing-and-rates, us.etrade.com/platforms/power-etrade, us.etrade.com/platforms/power-etrade/pro, us.etrade.com/platforms/etrade-pro-transition-guide, us.etrade.com/what-we-offer/investment-choices/fractional-shares.