E*TRADE Review
Powerful trading platform backed by Morgan Stanley. Independent E*TRADE review: 4.5/5 for brokerage. Best for Active traders and options traders.
By Michael Hewitt, Founder & Editor-in-Chief. Rates last checked September 29, 2026.
Our verdict
Active and options traders are E*TRADE's audience: $0 stock and ETF trades, $0.65 options contracts that drop to $0.50 with 30+ trades a quarter, and Power E*TRADE on desktop and mobile. Morgan Stanley research backs it. What holds it back is fractional shares, available only through automated investing.
Skip it if you want to buy fractional shares yourself rather than through automated investing.
About E*TRADE
Powerful trading platform backed by Morgan Stanley. E*TRADE is offered by Morgan Stanley. Our editorial rating is 4.5 out of 5.
Best for: Active traders and options traders.
Editorial grade: A (composite score 89/100).
Highlights
- $0 stocks & ETFs · $0.65 options ($0.50 with 30+ trades/quarter)
- Power E*TRADE desktop + mobile for active and options traders
- Cash bonus of $50 to $10,000 for new brokerage accounts funded with $1,000 to $5M+ (open by 10/31/26)
What we like
- Two strong platforms: standard E*TRADE + Power E*TRADE
- Backed by Morgan Stanley research and analyst reports
- Taxable, IRA, Roth IRA, 401(k), Solo 401(k), and custodial accounts
- 6,000+ no-transaction-fee mutual funds
Where it falls short
- Fractional shares only available via automated investing
- Top $10,000 bonus requires a $5M+ deposit; $1,000 earns $50
Fees, minimums, and rates
Monthly fee: $0 stocks / $0.65 options. Minimum to open: $0. New-customer bonus: Up to $10,000 (open by 10/31/26). Rates and fees last checked on September 29, 2026.
How we reviewed it
This is a desk review: we have not opened an account with Morgan Stanley. It is built from Morgan Stanley's published rates, fee schedule and terms and from the public complaint record, and compared with the other products in the Brokerage shortlist. Our brokerage and robo-advisor reviews weight costs and fees (25%), platform and tools (20%), asset selection (15%), account types (10%), education and research (10%), customer support (10%), and trust and safety (10%). The rubric is the same for every brand.
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Read our full editorial methodology for how we review products.