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E*TRADE review 2023

Commission-free stocks, advanced tools and access to mutual funds, bonds and ETFs make E*TRADE a strong trading platform.

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By

Helen Champion

Reviewed by

Jaclyn Hurst

Updated

Fact checked

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Our verdict

Consider E*TRADE for its commission-free trading on stocks, ETFs and options combined with a comprehensive suite of research & trading tools plus a robo-advisor for passive investing. Look elsewhere if you're looking to trade cryptocurrencies or forex or want access to fractional share trading.

Best for: All types of traders including hands-off investors.

Pros
  • Commission-free stock, ETF and option trading.
  • Choose from the E*TRADE trading platform or the advanced Power E*TRADE trading platform.
  • Robo-advisor available for automatic portfolio management.
Cons
  • No direct access to crypto or forex trading.
  • No fractional share trading.
  • Customers have reported a lack of quality customer service.
4

★★★★★

Finder rating

Learn more

Stock trade fee

$0

Minimum deposit

$0

How we rated E*TRADE’s features

Fees

★★★★

No commissions on stocks, options and ETFs. And fair prices for futures, bonds, mutual funds and portfolio management.
Available securities

★★★★★

An E*TRADE brokerage account lets you trade everything but crypto and forex.
Customer support

★★★★

There are multiple ways to get support, but we waited more than 20 minutes to speak to a rep.
Mobile app

★★★★

While it doesn’t score as well on Google Play, Apple users give the app high marks.
Research and tools

★★★★

A variety of interactive charts and analysis tools are available.
Reliability

★★★

Both a major outage and mobile app crashes have been reported.
Bonus star

★

We awarded a bonus star for access to paper trading.

To learn how our star ratings are calculated, read our methodology at the bottom of the page.

E*TRADE is best for all traders

E*TRADE appeals to most traders. Hands-off investors can put their portfolios on autopilot with E*TRADE’s roboadvisor, while plentiful resources exist for beginners, who can hone their skills through paper trading and educational webinars. Its suite of research and trading tools, coupled with $0 commission on stocks, ETFs and options, makes it a solid choice for day and short-term traders, proactive in managing their own portfolios.

What you can trade on E*TRADE

  • Stocks
  • ETFs
  • Options
  • Bonds
  • Mutual funds
  • Futures

Account types available with E*TRADE

  • Personal brokerage
  • Managed portfolios
  • Retirement (multiple IRA types)
  • Small business retirement
  • Bank
Dive deeper What is an IRA?

Where E*TRADE shines

E*TRADE offers customers the full investor package through sophisticated trading platforms, a wide range of securities and commission-free stock, ETF and options trading. Paper trading and a vast collection of educational resources make it ideal for newbies. And hands-off investors can make use of automatic portfolio management through a roboadvisor for a 0.3% annual fee. Individual brokerage accounts and retirement accounts are on offer as well as margin trading. And there’s advanced trading through Power E*TRADE.

Where E*TRADE falls short

While it offers many securities, E*TRADE does not offer forex or crypto. You can only gain indirect exposure to crypto through crypto trust ETFs. And the lack of fractional share trading can put off some beginner investors lacking a substantial starting capital. One of the biggest complaints among customers is the lack of quality customer service, so new customers seeking this could be left disappointed.

E*TRADE’s fees

Minimum deposit$0
Annual fee$0
Stock, ETF and option trade fees$0
Options contract fee$0.50 for up to 29 trades each quarter
$0.65 for 30+ trades each quarter
Future contract fee$1.50
Crypto future contract fee$2.50 per contract
Bonds$1 per bond ($10 minimum $250 maximum)
Wire transfer fee (domestic and international)$0 incoming
$25 outgoing
Returned check or wire transfer due to insufficient funds fees$25
Paper statement fee$2 for each paper statement mailed to a residential address
Outgoing account transfer fee$75 for full transfers
$25 for partial transfers (Customers making a partial transfer with a remaining account balance of $5,000+ will not be charged a transfer fee.

Is E*TRADE legit?

E*TRADE is a legitimate trading platform created in the early ’80s. It now forms part of Morgan Stanley, having been bought in 2020. It is regulated by the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC). Through its membership of the Securities Investor Protection Corporation (SIPC), customers are protected up to the value of $500,000 for their cash and securities.

E*TRADE’s platform is easy to use

Here are some of the tools you can use to trade with on E*TRADE:

  • Research reports and services
  • Intuitive trading tools
  • Screeners
  • Market news
  • Paper trading
  • Webinars

E*TRADE‘s web platform and app

There’s a full suite of tools to research potential investments, track the markets and then carry out trades. Beginner investors can even school themselves with paper trading and investing trends and techniques.

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Power E*TRADE

Active traders might be more enticed with Power E*TRADE, an advanced platform that offers dynamic charting tools and risk-reward analysis to help with complex strategies. Here, you can use in-depth market news, in addition to interactive charts, 100s of technical studies and preset scans to spot a trade.

E*TRADE’s app store reviews

Google Play app reviews4.0/5 stars, based on more than 40.8k downloads
Apple App Store app reviews4.6/5 stars, based on more than 139.4k ratings

E*TRADE’s customer support

You can reach E*TRADE in the following three ways:

  • Email support
  • Phone
  • In person

How to open an account with E*TRADE

  1. Select the Signup now button below, and then select Open an account.
  2. Choose the account type you want to open then select Continue.
  3. Enter your personal details, such as your contact info, date of birth and Social Security number.
  4. Provide your employment details and complete your investment profile.
  5. Answer E*TRADE‘s regulatory questions and how you plan to use your account.
  6. Review and agree to E*TRADE‘s agreements and disclosures.
  7. Create your user ID and select Submit.

You can fund your account by wire transfer, check, deposit or a transfer from a different trading platform. Once your deposited funds have cleared, you can begin trading. Alternatively, you can sign up for E*TRADE at one of its branches.

Eligibility and required information

  • Be at least 18 years old
  • Have a valid US residential address
  • Have a valid Social Security number
  • Social Security number
  • Employment information
  • Bank or brokerage account information

How safe is E*TRADE?

E*TRADE is considered safe and secure because it utilizes encryption and network defenses. It also adds an extra layer of security through two-factor authentication and will send customers security alerts if it suspects any fraudulent activity.

Compare E-Trade to other platforms

E*TRADE logo

E*TRADE

★★★★★

Finder rating 4 / 5

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Available asset types

Stocks, Bonds, Options, Mutual funds, ETFs, Futures

Stock trade fee

$0

Minimum deposit

$0

Complete signup bonus

SoFi Invest logo

SoFi Invest

★★★★★

Finder rating 4.6 / 5

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Available asset types

Stocks, Options, ETFs, Cryptocurrency

Stock trade fee

$0

Minimum deposit

$0

Complete signup bonus

Get up to $1,000 in stock when you fund a new account within 30 days.

eToro logo

eToro

★★★★★

Finder rating 4.2 / 5

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Available asset types

Stocks, Options, ETFs, Cryptocurrency

Stock trade fee

$0

Minimum deposit

$0

Complete signup bonus

Frequently asked questions about E*TRADE

How we rate trading platforms

★★★★★ 5/5 — Excellent

★★★★★ 4/5 — Good

★★★★★ 3/5 — Average

★★★★★ 2/5 — Subpar

★★★★★ 1/5 — Poor

We analyze top online trading platforms and rate them one to five stars based on factors that are most important to you. These factors include fees, securities available for trade, customer support, customer feedback, platform resources and overall reliability.

For a complete breakdown of how we score each category, read the full methodology of how we rate trading platforms.

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