E*TRADE Review 2025
Pioneer of online trading, now backed by Morgan Stanley. Up to $10,000 in bonuses, solid platforms, and good options pricing for active traders.
💰 Current Promotion (Expires Jan 31, 2025)
Up to $10,000 bonus with qualifying deposits. Use code OFFER25. $1,000,000+ deposit required for maximum bonus.
The Bottom Line
E*TRADE was a pioneer in online trading and remains a solid choice, especially for options traders who qualify for the $0.50/contract rate. The Morgan Stanley backing adds stability.
However, high margin rates (11.20%) and PFOF usage put it behind Fidelity and Public for many investors.
What E*TRADE Does Best
Aggressive Bonuses
E*TRADE regularly offers some of the highest transfer bonuses in the industry. The current up to $10,000 offer is compelling for large account transfers.
Power E*TRADE Platform
The Power E*TRADE platform offers advanced charting, options analysis, and streaming data. It's particularly good for options traders with visual strategy builders.
Options Pricing for Active Traders
Base rate is $0.65/contract, but active traders (30+ trades/quarter) get $0.50/contract—competitive with traditional brokers.
Morgan Stanley Integration
Access to Morgan Stanley research and potential banking integration for those who want everything in one ecosystem.
Where E*TRADE Falls Short
High Margin Rates
At 11.20%, E*TRADE's margin rates are among the highest. Compare to Public (4.9%) or Robinhood Gold (5.75%).
PFOF
E*TRADE uses payment for order flow. Fidelity and Public don't.
Outpaced by Competitors
Robinhood offers free options. Webull offers higher IRA match. Fidelity offers better service. E*TRADE is good but not exceptional in any category except bonuses.
Who Should Use E*TRADE
- Large transfers chasing the bonus
- Active options traders who qualify for $0.50 pricing
- Morgan Stanley customers wanting integration
Who Should Look Elsewhere
- Margin users: Rates are too high
- Casual options traders: Robinhood is free
- Those who want no PFOF: Fidelity is better
The Verdict
E*TRADE is a solid, established broker that's best for capturing big transfer bonuses or if you're already in the Morgan Stanley ecosystem. For most investors, Fidelity or Schwab offer more value.