Trustpilot
Checked 2026-08-01
Recurring positives: User-friendly platform · Wide range of investment options · Morgan Stanley research access
Recurring concerns: Customer service issues reported · Platform complexity for beginners
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Community summary
E*TRADE from Morgan Stanley is a pioneering online brokerage founded in 1982, acquired by Morgan Stanley in 2020. The platform offers $0 commission trades on stocks, ETFs, options, and mutual funds, alongside low-cost crypto trading, futures, bonds, and retirement accounts. E*TRADE combines intuitive digital platforms with Morgan Stanley research and wealth management expertise.
Traderforum research review
In-depth E*TRADE review (2026-08-01)
Written by Traderforum research from official E*TRADE documentation and source-checked pages. This editorial analysis is independent of member reviews and does not affect stars, review counts or community rank.
Overview
E*TRADE from Morgan Stanley is an established US-based online brokerage and investment platform originally founded in Palo Alto, California in 1982 by William Porter and Bernard Newcomb. The company was acquired by Morgan Stanley in October 2020 for approximately $13 billion in a major all-stock transaction. Operating as a wholly-owned subsidiary of Morgan Stanley, E*TRADE now functions as the parent company's primary channel for self-directed retail investing and professional active trading operations. The platform maintains approximately 5.2 million client accounts with over $360 billion in total managed retail client assets under administration. E*TRADE is regulated by FINRA (CRD #29106) and the US SEC (Registration #8-44112), operating as a full SIPC member with segregated client accounts and investor protections. The platform serves retail investors and active traders across individual, joint, retirement, and custodial account types. E*TRADE's distinctive market position combines proprietary multi-platform trading infrastructure with integrated Morgan Stanley institutional research and insights.
Platforms & tools
E*TRADE delivers multiple integrated trading platforms purposefully designed for different investor profiles and experience levels. Power E*TRADE Web maintains the #1 web trading platform ranking for 14 consecutive years (Stockbrokers.com), featuring real-time dynamic charting with advanced technical studies, custom stock scans, earnings move analytics, and depth-of-market views for fundamental analysis. Power E*TRADE Pro is a downloadable desktop application offering nearly unlimited customization, advanced charting with 100+ technical indicators, complex derivatives tools, and institutional-grade market intelligence specifically for active traders. The E*TRADE Mobile App (iOS/Android) provides seamless single-ticket trading for stocks, ETFs, options spreads, and futures with real-time streaming quotes. All platforms integrate Morgan Stanley research including equity analyst recommendations, market outlook reports, economic commentary, and the award-winning Thoughts on the Market podcast. Educational offerings include investing fundamentals, six-webinar options boot camp, advanced trading guides, and interactive learning resources.
Costs & fees
E*TRADE's pricing structure is designed to prioritise active traders and low-volume investors equally. Zero commissions apply to US-listed stock, ETF, and no-load mutual fund trades. Options contract fees are $0.65 per contract standard, reduced to $0.50 per contract with 30+ trades per quarter. Over-the-counter stocks incur $6.95 commission for standard accounts, dropping to $4.95 for active traders executing 30+ quarterly trades. Futures cost $1.50 per contract per side plus exchange fees. Bonds and CDs cost $1.00 per bond with $10 minimum and $250 maximum per trade. Cryptocurrency trading on zerohash incurs 0.50% of notional trade value. Margin interest rates range from 12.45% (accounts under $10,000) to 10.45% ($250,000–$499,999), with base rate 9.95% as December 2025. Outgoing wire transfers cost $25; paper statements cost $2.00 quarterly unless exemptions apply. No account maintenance or inactivity fees.
Safety & regulation
E*TRADE maintains full regulatory compliance as a FINRA member (CRD #29106) and SEC-registered broker-dealer (SEC #8-44112). Client brokerage securities are held in segregated accounts protected by SIPC insurance covering up to $500,000 per customer per firm (including maximum $250,000 in cash). Morgan Stanley Smith Barney provides additional excess SIPC supplemental insurance beyond baseline protection. Bank deposits held through Morgan Stanley Private Bank receive FDIC insurance: standard accounts insured to $250,000; Premium Savings Accounts insured to $500,000 when specific conditions are met. Brokerage account cash is automatically swept into FDIC-insured depository institutions (up to $500,000 individual accounts/$1,000,000 joint accounts). E*TRADE does not offer negative balance protection to retail customers. FINRA BrokerCheck records document 232 regulatory disclosures including supervisory events and arbitration cases spanning the firm's history, indicating past compliance actions and customer disputes.
Accounts & funding
Opening an E*TRADE account requires identity verification via instant verification service, document upload, or traditional verification methods. No minimum deposit is required to open an account; however, accounts must receive funding within 90 days or close automatically. Margin account customers must maintain a $2,000 minimum balance; futures account customers require $25,000 minimum equity. Five distinct funding methods are available: wire transfers (same business day, $25 outgoing fee), ACH Transfer Money service (3 business days, free), mobile cheque deposit (up to $250,000 daily), direct deposit (immediate to linked accounts), and securities/account transfer from other brokers (5 business days). Base currency is USD exclusively. Withdrawals via wire transfer cost $25; internal transfers between E*TRADE and Morgan Stanley accounts are immediate and free. Account opening is fully digital with immediate access upon completion.
Service & reputation
E*TRADE's customer support operates through phone (800-387-2331) available 9 a.m.–6 p.m. ET Monday–Friday for brokerage accounts; extended to 9 a.m.–7 p.m. ET for certain departments. No official 24/7 phone support exists. Live chat is advertised but frequently unavailable. Spanish language support is available upon request. Community sentiment on aggregate platforms reveals significant frustration regarding support accessibility, delayed response times, and limited weekend/evening availability. Trustpilot ratings average 1.2/5 (as of March 2026), with predominant complaints centring on platform glitches, service responsiveness delays, and account management difficulties. Educational resources including webinars, tutorials, and knowledge centres are readily accessible. Post-Morgan Stanley migration (completed September 2023) experienced extended service disruptions that damaged customer satisfaction metrics.
Strengths
- Zero commission trading on stocks, ETFs, and mutual funds.
- Power E*TRADE Web ranked #1 platform for 14 consecutive years (Stockbrokers.com).
- Integrated Morgan Stanley institutional research and market insights included.
- Two distinct platforms accommodate both passive investors and active traders.
- SIPC protection up to $500,000; FDIC insurance on bank deposits up to $500,000.
- No account minimums or maintenance fees; no inactivity fees.
- Margin rates competitive from 9.95% base with tier benefits.
- Crypto trading integration at 0.50% commission via zerohash partnership.
Weaknesses
- Trustpilot rating 1.2/5 with endemic complaints about platform glitches and stability.
- No 24/7 customer support; phone available only 9 a.m.–6 p.m. ET weekdays.
- Live chat support advertised but frequently unavailable in practice.
- Outgoing wire transfers cost $25; quarterly paper statements cost $2.00 each.
- OTC stock trading $6.95 standard; $4.95 with 30+ quarterly trades.
- No negative balance protection offered to retail customers.
Research verdict
E*TRADE presents a mixed value proposition for self-directed investors. It excels as a cost-effective platform with professional-grade trading tools and unparalleled access to Morgan Stanley institutional research at retail pricing. The Power E*TRADE Web platform is demonstrably superior for technical traders, whilst integrated investment research provides competitive advantage. However, severe weaknesses exist: Trustpilot scores of 1.2/5 reflect endemic platform reliability and customer service issues. Limited weekday-only support (no 24/7 phone), frequent live chat unavailability, and post-migration service degradation remain unresolved. The broker suits cost-conscious, self-reliant traders comfortable navigating technical platforms independently and accepting minimal support access. Unsuitable for investors requiring responsive human support, guidance, or 24/7 problem resolution. Past stability issues warrant caution.
Best forActive traders using options and complex strategiesSelf-directed cost-conscious index investorsTraders needing advanced charting and technical analysisInvestors valuing Morgan Stanley research access
Research sources (15)
- https://us.etrade.com/
- https://us.etrade.com/what-we-offer/pricing-and-rates
- https://us.etrade.com/platforms
- https://us.etrade.com/platforms/power-etrade
- https://us.etrade.com/what-we-offer/our-accounts/crypto
- https://us.etrade.com/contact-us
- https://us.etrade.com/what-we-offer/our-accounts/fund-my-account
- https://us.etrade.com/l/f/asset-protection
- https://us.etrade.com/knowledge/knowledge-center
- https://brokercheck.finra.org/firm/summary/29106
- https://www.trustpilot.com/review/www.etrade.com
- https://www.forexpeacearmy.com/forex-reviews/57/etrade-stock-broker
- https://www.stockbrokers.com/review/etrade
- https://en.wikipedia.org/wiki/E-Trade
- https://www.morganstanley.com/press-releases/morgan-stanley-to-acquire-e-trade
Broker specification
Markets, costs, accounts and operations
Source-attributed product facts checked 2026-08-01. Terms can vary by legal entity, account type and client jurisdiction; verify the linked official documents before opening an account.
Stocks & ETFsFutures & OptionsCrypto accessMulti-Asset
Minimum deposit
No minimum
Spread from
Not source-confirmed
Commission from
$0
Maximum leverage
Margin rates vary by account balance
Markets & instruments
- Asset classes
- Stocks · ETFs · Options · Futures · Bonds · Crypto
- Execution model
- Market maker
- Client types
- retail · professional
Platforms & accounts
- Platforms
- Power E*TRADE Pro · Power E*TRADE Web · Power E*TRADE App · E*TRADE Web · E*TRADE Mobile App
- Account types
- Brokerage Account · Traditional IRA · Roth IRA · Rollover IRA · Inherited (Beneficiary) IRA · E*TRADE Complete IRA · IRA for Minors · Coverdell ESA · Custodial Account · Individual 401(k) · SIMPLE IRA · SEP IRA · Investment-Only Account · Crypto Account · Premium Savings Account · Max-Rate Checking · Certificate of Deposit (CD) · Line of Credit
- Base currencies
- USD
Funding
- Deposit methods
- Electronic Transfer · Wire Transfer · Check Deposit (Mobile or Mail) · Direct Deposit · Transfer of External Assets
- Withdrawal methods
- Electronic Transfer · Wire Transfer · Check Withdrawal
Support
- Channels
- Phone · Email · Fax · Mail · Web Chat (implied from website)
- Languages
- English
- Hours
- 12 a.m.–11:59 p.m. ET Monday–Friday for stock plan accounts; other support available 24/5
Account capabilities
Demo account
Islamic account
Copy trading
Negative balance protection
Key features
- $0 commission on stocks, ETFs, mutual funds, and options
- $0 account minimums and maintenance fees
- Paper Trading for risk-free strategy testing
- Power E*TRADE advanced trading platforms
- Award-winning mobile app
- #1 Web Trading Platform (14 years by Stockbrokers.com)
- Crypto trading via ZeroHash partnership
- Morgan Stanley Financial Advisors available
- Integrated banking with Morgan Stanley Private Bank
- Advanced charting and technical analysis tools
Fees and trading costs
Zero commission on stocks, ETFs, mutual funds, and options trades. Options contracts cost $0.50-$0.65 per contract. Futures cost $1.50 per contract. Bonds $1 per bond (minimum $10, maximum $250). Crypto trading at 0.50% of trade value. No account maintenance or minimum deposit fees.
Investor protection
Member FDIC for bank products up to $500,000; Morgan Stanley Smith Barney LLC provides brokerage services
Public evidence
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Share specific facts about deposits, execution, withdrawals, fees and support.
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Formal record
Complaints (0)
No formal complaints on record.