Whether you're a beginner or experienced investor, E*TRADE makes it easy to trade stocks, bonds, index funds and more.
E*TRADE, a subsidiary of Morgan Stanley, is an electronic trading platform for investors. The brokerage's popular tools allow users to track their investments' performance and other market news.
Newbies just starting out can access E*TRADE's educational webinars to learn about important investing topics like diversifying your portfolio, while seasoned traders can use the advanced Power E*TRADE investing app and get access to tools like a market dashboard and technical charts.
Below, Select reviews E*TRADE's offerings to give you the details on the investment options, features and fees so you can decide if it's right for your needs.
Our best selections in your inbox. Shopping recommendations that help upgrade your life, delivered weekly. Sign-up here.
E*TRADE review
E*TRADE
Minimum deposit and balance
Varies depending on the investment vehicle selected. No minimum to open an E*TRADE brokerage account; minimum $500 deposit to invest in robo-advisor platform Core Portfolios.
Fees
Vary depending on the investment vehicle selected. Zero commission fees for stock, ETF and options trades; zero transaction fees for over 4,400 mutual funds; robo-advisor Core Portfolios charges a 0.30% annual advisory fee.
Investment options
Stocks, bonds, mutual funds, CDs, ETFs, options and futures
Investment vehicles
Robo-advisor: E*TRADE Core Portfolios IRA: E*TRADE Traditional, Roth, Rollover, Beneficiary, SEP and SIMPLE IRAs, IRA for Minors and E*TRADE Complete™ IRA Brokerage and trading: E*TRADE Trading Other: E*TRADE Coverdell ESA (Education Savings Account), Custodial Account for minors and small business retirement plans
Educational resources
In-depth articles and videos, access to Morgan Stanley research and institutional-grade market insights.
Terms apply.
Pros
- No commission fees for stock, ETF and options trades
- No transaction fees for over 4,400 mutual funds
- Core Portfolios offers automated investing with a choice of standard, socially responsible (ESG), smart beta and tax-sensitive portfolio strategies
- Tax-loss harvesting available through Core Portfolios at no additional cost
- Active traders receive volume discounts on options
- Free analyst research and investing tools
Cons
- Core Portfolios requires $500 minimum to enroll and charges 0.30% annual advisory fee
- No access to certified financial planners through Core Portfolios
- No forex trading
Investment options
E*TRADE account holders have the ability to buy and sell stocks, bonds, mutual funds, CDs, ETFs, options and futures, though there is no forex or crypto trading. You also cannot purchase fractional shares of stocks unlike some other brokerages that offer the feature, including Robinhood* and Fidelity.
While E*TRADE offers normal, taxable brokerage accounts, it also offers a number of other account types.
For beginners, there is an automated investing option through E*TRADE's Core Portfolios. The Core Portfolios platform is essentially a robo-advisor where you provide your investing goals and risk tolerance and E*TRADE experts (along with automated technology) build and manage a diversified portfolio for you.
Retirement savers can tap into one of E*TRADE's many different IRAs offered, from traditional, to Roth, Rollover and Beneficiary IRAs, to name a few. Investors over age 59½ can get immediate access to their IRA savings through the E*TRADE Complete™ IRA. And for parents who want to start saving for their child's college education, there is an E*TRADE Coverdell ESA (Education Savings Account) that allows for tax-free withdrawals for qualified educational expenses, such as tuition and books.
Features
E*TRADE stands out mostly for its educational resources that help you invest your money, no matter which route you choose.
There is a library of in-depth articles and videos, as well as free analyst research and investing tools. While some reviews indicate that the E*TRADE website is cumbersome, E*TRADE has a strong mobile platform.
The E*TRADE app is available to download for free in both the App Store (for iOS), where it has 4.6/5 stars, and on Google Play (for Android), where it has 4.3/5 stars at the time this article was written. The free Power E*TRADE advanced trading app, which is what we recommend for seasoned traders, has 4.5/5 stars in the App Store and 3.8/5 stars on Google Play.
Fees
Zero-commission trades (i.e. you won't pay a fee to buy or sell a security) can be made with stocks, ETFs and options, and there are no transaction fees for over 4,400 mutual funds. E*TRADE's ETFs have low expense ratios (similar to ones from Vanguard).
Minimum deposit and balance requirements vary depending on the E*TRADE account you select. While there is no minimum to open an E*TRADE brokerage account, there is a minimum $500 deposit to invest in E*TRADE's robo-advisor platform Core Portfolios. Core Portfolios also charges a 0.30% annual advisory fee.
Bottom line
E*TRADE has something for everyone, from brokerage accounts for you and your child, to automated investing platforms that do the work for you. Experienced investors can also take advantage of the Power E*TRADE platform, packed with charts and market tools.
If you're interested in the robo-advisor element of E*TRADE, you may want to first check out alternatives such as SoFi Invest®*, whose automated investing platform has zero account management fees and no minimum requirements. It offers a broad range of low-cost ETFs and will automatically rebalance your portfolio on a quarterly basis. Read our full SoFi Invest® review.
Catch up on Select's in-depth coverage of personal finance, tech and tools, wellness and more, and follow us on Facebook, Instagram and Twitter to stay up to date.
Read more
*INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
*(Review Robinhood disclosures here.)
