Options traders, active investors, and people who want a professional-grade platform backed by Morgan Stanley research.
⚠ Not Ideal For
Beginners who want a simple experience or pure index fund investors.
WiseIQ Verdict: E*TRADE
E*TRADE (now part of Morgan Stanley) offers one of the best trading platforms available, particularly for options traders. Power E*TRADE is a genuinely powerful platform with excellent options analysis tools. The Morgan Stanley acquisition has brought better research and banking integration. A strong choice for active traders who want professional tools.
Compare All Brokerages Side-by-SideSee how E*TRADE stacks up against Fidelity, Schwab, Vanguard, and more.
E*TRADE charges $0 commissions on stock and ETF trades, which is now the industry standard. $0 is the commission rate for standard trades. Always check the full fee schedule for options, mutual funds, and margin rates before opening an account.
Investment Selection
E*TRADE offers access to stocks, ETFs, and options. The breadth of investment selection varies — see the key stats above for specifics. Before choosing a brokerage, confirm it offers the investment types you plan to use.
Platform and Mobile App
The E*TRADE platform has a rating of 4.6/5.0 for mobile app quality. The platform is excellent for active traders with advanced charting tools.
Customer Service
Customer service is rated 4.5/5.0. Support is available via phone and chat during business hours.
Frequently Asked Questions
Yes. Morgan Stanley acquired E*TRADE in 2020 for $13 billion. E*TRADE continues to operate as a separate brand but benefits from Morgan Stanley's research, banking products, and financial advisor network.
Power E*TRADE is E*TRADE's advanced trading platform designed for active traders and options traders. It includes advanced charting, options analysis tools, and risk/reward visualizations. It is free for all E*TRADE customers.
E*TRADE charges $0.65 per options contract for customers who trade fewer than 30 contracts per month, and $0.50 per contract for customers who trade 30+ contracts per month. There is no base commission.
Yes. E*TRADE offers traditional IRAs, Roth IRAs, SEP IRAs, SIMPLE IRAs, and 401(k) rollovers. They also have retirement planning tools and access to Morgan Stanley financial advisors.
📋 Methodology
WiseIQ evaluates brokerages across 6 categories: commissions and fees, investment selection, research and tools, mobile app, customer service, and ease of use. Ratings are based on hands-on testing, fee schedule analysis, and comparison with industry peers. Updated April 2026.