Is E*TRADE owned by Morgan Stanley?

Yes. Morgan Stanley completed its $13 billion acquisition of E*TRADE in 2020. E*TRADE continues to operate as a separate brand with its own app and platforms, but customers now have access to Morgan Stanley research and some wealth management services. Your accounts remain SIPC-insured up to $500,000.

Does E*TRADE charge any fees?

E*TRADE charges $0 for stock, ETF, and online mutual fund trades. Options cost $0.65 per contract ($0.50 for 30+ trades per quarter). There's no account minimum for standard brokerage accounts. The only common fee most investors encounter is the $19.99 transaction fee on some mutual funds.

Is Power E*TRADE good for options trading?

Yes. Power E*TRADE is one of the best options platforms available. It includes options chain analysis, strategy builders (spreads, condors, straddles), risk/reward visualizations, and real-time Greeks. BarronÕs has consistently ranked E*TRADE among the top platforms for options traders.

Can I get a checking account with E*TRADE?

Yes. E*TRADE offers a checking account through Morgan Stanley Private Bank with no monthly fees, unlimited ATM fee rebates, and a Visa debit card. It's a solid option for consolidating banking and investing, though rates are lower than online-only banks.

Is E*TRADE good for beginners?

E*TRADE is reasonable for beginners. The standard platform is clean and easy to navigate, and there are educational resources and prebuilt portfolios. However, Fidelity offers more beginner-friendly tools, and ETRADE's mutual fund minimums ($500-$2,500) are higher than Fidelity's $0.

E*TRADE Review 2026: Fees, Features, Platform & Who It''s Best For

ETRADE was one of the original online brokerages, founded in 1982 — long before most Americans had internet access. After its 2020 acquisition by Morgan Stanley, ETRADE now combines decades of self-directed trading tools with institutional research and wealth management backing. This review covers accounts, fees, the Power ETRADE platform, and who should use ETRADE in 2026.

Bottom line: ETRADE is best for options traders who want Power ETRADE’s advanced tools and for investors who value Morgan Stanley’s research depth. For pure buy-and-hold indexing, Fidelity and Vanguard are simpler and cheaper on fund costs.

E*TRADE at a Glance

Feature	Details
Stock/ETF commissions	$0
Options	$0 + $0.65/contract ($0.50 for 30+/quarter)
Mutual fund commissions	$0 (no-transaction-fee list), $19.99 (others)
Account minimum	$0 (brokerage), $500 (Core Portfolios robo)
Fractional shares	No (except through dividend reinvestment)
Crypto trading	No (futures on crypto available)
Mobile app	4.7/5 (iOS), 4.4/5 (Android)
Desktop platform	Power E*TRADE (web-based and app)
Physical locations	~30 branches (limited)
Customer service	Phone 24/7, live chat, in-person
Robo-advisor	Core Portfolios (0.30% fee, $500 min)
Parent company	Morgan Stanley (acquired 2020)

The Morgan Stanley Advantage

Since the acquisition, E*TRADE customers have gained:

Feature	Details
Morgan Stanley research	Institutional-grade stock and market analysis
Wealth management access	Referral path to Morgan Stanley advisors
Enhanced cash management	Morgan Stanley Private Bank checking
Stability	Backed by a $150B+ market cap institution

The brand remains E*TRADE, but the resources behind it are significantly larger.

Accounts Available

Account Type	Available	Notes
Individual brokerage	✅	—
Joint brokerage	✅	—
Traditional IRA	✅	—
Roth IRA	✅	—
SEP-IRA	✅	—
SIMPLE IRA	✅	—
Solo 401(k)	❌	Not available
529 plan	❌	Not available
HSA	❌	Not available
Custodial (UGMA/UTMA)	✅	—
Trust	✅	—
Checking account	✅	Via Morgan Stanley Private Bank

Investment Options

Trading Capabilities

Asset	Available	Commissions
US stocks	✅	$0
ETFs	✅	$0
Mutual funds	✅	$0 (NTF) to $19.99
Options	✅	$0.65/contract
Bonds / fixed income	✅	$1/bond ($10 min)
Futures	✅	$1.50/contract
Crypto	❌	—
International stocks	Limited	Via ADRs only

Mutual Fund Minimums

Fund Type	Minimum
No-transaction-fee funds	$500 - $2,500 (varies)
Transaction-fee funds	$500 - $2,500 + $19.99 per trade
E*TRADE proprietary ETFs	$0

This is a notable disadvantage compared to Fidelity ($0 minimums across the board).

Power E*TRADE Platform

Power ETRADE is ETRADE’s advanced trading platform, available as a web-based tool and a dedicated mobile app.

Feature	Rating
Options chain analysis	Excellent — full Greeks, IV, probability
Strategy builder	Excellent — multi-leg strategies with P/L graphs
Charting	Very good — 100+ studies, multi-timeframe
Screening tools	Good — stock and ETF screeners
Real-time data	Yes — streaming quotes and Level 2
Paper trading	Yes — practice with virtual money
Risk analysis	Very good — portfolio-level Greeks, what-if scenarios
Overall	4.5/5 for options; 3.5/5 for long-term investing

Power E*TRADE vs Competitors

Feature	Power E*TRADE	thinkorswim (Schwab)	Active Trader Pro (Fidelity)
Options tools	Excellent	Excellent	Good
Charting	Very good	Excellent	Good
Ease of use	Better	More complex	Moderate
Real-time data	Yes	Yes	Yes
Paper trading	Yes	Yes	No
Futures	Yes	Yes	No
Best for	Options traders	Power users	Casual active traders

Fees Breakdown

Fee	Amount
Stocks / ETFs	$0
Options	$0.65/contract ($0.50 if 30+ trades/quarter)
Mutual funds (NTF list)	$0
Mutual funds (others)	$19.99
Bonds	$1/bond ($10 min)
Futures	$1.50/contract
Account maintenance	$0
IRA closure	$0
Wire transfer (outgoing)	$25 — full transfer limits guide
Paper statements	$2/month
Account transfer (ACAT out)	$75

Core Portfolios (Robo-Advisor)

Feature	Details
Management fee	0.30% annually
Account minimum	$500
Investment approach	ETF-based portfolios
Tax-loss harvesting	Available in taxable accounts
Socially responsible options	Yes (SRI portfolios)
Automatic rebalancing	Yes
Human advisor access	No (separate Morgan Stanley service)

At 0.30%, Core Portfolios is more expensive than Vanguard Digital Advisor (0.20%) and Schwab Intelligent Portfolios (0.00%), but the $500 minimum is lower than Vanguard’s $3,000.

Pros and Cons

Pros

Advantage	Why It Matters
*Power ETRADE platform**	One of the best options trading platforms available
$0 stock/ETF commissions	Industry standard, well executed
Morgan Stanley research	Institutional-grade analysis for retail investors
24/7 phone support	Available around the clock
Paper trading	Practice strategies without risk
Futures access	Available alongside stocks/options
Checking account	Consolidate banking and investing
Volume options discount	$0.50/contract at 30+ trades/quarter

Cons

Drawback	Impact
No fractional shares	Can’t buy partial shares of expensive stocks
No crypto	Must use another platform
No HSA or 529	Gaps in account types
$500+ mutual fund minimums	Higher than Fidelity’s $0
No Solo 401(k)	Self-employed investors need to go elsewhere
Higher robo fee (0.30%)	More expensive than Vanguard (0.20%) or Schwab ($0)
Limited international stocks	Only ADRs, no direct foreign exchange access
$75 ACAT transfer-out fee	Expensive to leave

Who Should Use E*TRADE

Situation	E*TRADE?	Why
Options trader	Yes	Power E*TRADE is outstanding
Futures trader	Yes	Available alongside other investments
Wants Morgan Stanley research	Yes	Institutional-grade market analysis
Wants combined banking + investing	Yes	Checking account available
Long-term buy-and-hold investor	Maybe	Fidelity/Vanguard have lower fund costs
Beginner investor	Maybe	Decent tools but higher fund minimums
Active stock trader	Yes	Good platform, $0 commissions
Needs HSA / 529 / Solo 401(k)	No	Not available
Crypto trader	No	Not available
Wants fractional shares	No	Not available

E*TRADE vs the Competition

Feature	E*TRADE	Fidelity	Schwab	Robinhood
Options platform	Excellent	Good	Excellent	Basic
Stock/ETF commissions	$0	$0	$0	$0
Options per contract	$0.65	$0.65	$0.65	$0
Mutual fund minimums	$500+	$0	$0	N/A
Fractional shares	❌	✅	✅	✅
Crypto	❌	✅	❌	✅
HSA	❌	✅	✅	❌
Research quality	Excellent (Morgan Stanley)	Excellent	Very good	Basic
Best for	Options traders	Most people	Branch access	Beginners

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.

The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy