E*TRADE Review 2025

E*TRADE at a glance

E*TRADE may stick in your mind for its string of commercials featuring talking babies over the years. But despite its infantile advertisements, the company is fairly mature — in fact, the company itself was founded in the early 1980s as TradePlus, and was then rebranded as E*TRADE in the early 1990s. 

E*TRADE became a public company in 1996, and in 2020, was acquired by Morgan Stanley and folded into its larger umbrella as a subsidiary. It remains one of the largest and most popular electronic trading (hence the name “e-trade”) platforms on the market.

For investors, the platform offers a wide array of trading and education resources, and customers can also tap into the wider range of Morgan Stanley offerings. For instance, there are brokerage and retirement accounts, but also checking and savings accounts. 

In short, it’s a strong platform that may be a good choice for new or seasoned investors alike, and with Morgan Stanley’s robust resources, it’s likely stronger and carries more appeal than ever before.

What does E*TRADE do?

As one of the original discount online brokerages, E*TRADE has made — and continues to make — its bread and butter through low-cost or free trading. This makes it, again, a potential contender for investors of all stripes and those who may utilize different trading strategies. 

As noted, there are several account types that users can choose from, including brokerage and retirement accounts that are aimed at investors. Investors can also trade a number of different securities, including stocks, options, mutual funds, ETFs, futures, CDs, IPO stocks, or even utilize prebuilt portfolios. 

Further, investors can utilize not one, but two mobile trading apps, in addition to the main web platform, of which there are multiple iterations, too.

What are the pros and cons of E*TRADE?

Investors should, as always, weigh the pros and cons of using E*TRADE before opening an account. Here’s a rundown.

Pros

E*TRADE’s column is a fairly advanced platform. It includes multiple resources, information, and options for investors in a relatively intuitive app or web platform. 

There are screeners that can be used, real-time quotes, commentary, analyses, and other educational resources, plus, investors can trade just about anything in terms of options or derivatives. Most of it, too, without any fees or commissions (though there are exceptions).

Another advantage is the option to invest in automated or pre-built portfolios, which could be attractive to newer or inexperienced investors.

Here are the pros at a glance:

• Robust, feature-rich platform: Offers a wide range of tools, resources, and investment options in an intuitive app and web interface.
• Advanced trading capabilities: Includes screeners, real-time quotes, market commentary, analysis, and educational content.
• Broad investment access: Investors can trade various options and derivatives, mostly without fees or commissions.
• Automated portfolios available: Offers pre-built and robo-advisor portfolios, ideal for beginners or passive investors.

Cons

As for drawbacks, one thing that stands out is that investors cannot directly trade cryptocurrencies. 

Further, while there is the option to trade fractional shares, it can only be done through a robo-advisor portfolio or a dividend reinvestment plan (DRIP). 

Additionally, E*TRADE also offers paltry interest rates on uninvested cash — among the lowest in the industry.

Here are the cons at a glance:

• No direct crypto trading: Investors cannot buy or sell cryptocurrencies directly on the platform.
• Limited fractional share access: Fractional shares are only available through robo-advisors or DRIP (Dividend Reinvestment Plans).
• Low interest on uninvested cash: Offers some of the lowest rates in the industry for idle funds.

What is E*TRADE’s minimum account size?

For a standard brokerage account, E*TRADE does not have a minimum account size. 

You can get up and running with E*TRADE’s platform without much, or any, money. However, there are account minimums for some of its other account types.

For example, if you want a margin account, you’ll need to deposit a minimum of $2,000. Robo-advisor accounts or pre-built portfolio services, likewise, require a minimum of $500.

Who should choose E*TRADE?

Who is the ideal E*TRADE user? Given how wide-ranging and strong its platform is, it could really be anybody. For that reason, it’s best to say that E*TRADE is ideal for intermediate investors.

That’s because the platform is relatively easy to use — for investors of various levels — and has low costs. The choice of multiple mobile and web apps also gives investors some options as to how much firepower they need or want to use when trading. 

Additionally, the vast array of educational and informational materials for research is a significant help.

So, investors looking for a simple or straightforward experience can find it with E*TRADE, and investors who want more bells and whistles will likely also be satisfied by what the company can offer.

Is E*TRADE secure?

E*TRADE says that it uses encryption, firewalls, dedicated fraud protection teams, and multi-factor authentication options to keep users and the platform secure. With all of that in play, theoretically, users’ data and funds are secure. 

On top of that, users are insured by the Securities Investor Protection Corporation (SIPC) for up to $500,000, much in the same way that a bank account might be protected by FDIC insurance. 

The firm also has supplemental insurance for much more beyond SIPC limits as well.

While it's always possible that bad actors could, somehow, gain access to a user’s account, E*TRADE’s platform is, by and large, secure. 

E*TRADE: Customer service

Having been around for quite some time and being one of the original discount online brokerages, E*TRADE’s customer service is noted for being accessible and responsive. 

Investors can reach brokers, product specialists, and others 24 hours per day, seven days per week via the phone, and clients with more than $1 million will even have a dedicated advisor they can reach out to. 

The platform also offers live chat and email options, and a huge knowledge bank to help investors sort through any issues on their own. 

E*TRADE: Mobile app

As mentioned, E*TRADE actually has two mobile apps that customers can utilize: The E*TRADE Mobile and Power E*TRADE Mobile apps. 

They’re customizable in their own ways, meaning that traders — no matter what level of usability they’re looking for — can tailor them to their individual taste or strategy. Notably, they’re also simple and intuitive, so there isn’t a huge learning curve. 

The basic difference between the two is that the “Power” app is, as you may have guessed, designed for more advanced investors, as it has more charting and analysis tools, as well as screeners and more. 

Conversely, the straightforward mobile app has fewer bells and whistles, but does have a lot going for it in its own right, such as watchlists, research access, and more.

In all, the E*TRADE Mobile and Power E*TRADE Mobile apps might be among the best on the market, given their blend of usability and depth.

E*TRADE reviews: What customers are saying

Customers, in their reviews, have celebrated E*TRADE for its usability and strong customer service. 

For instance, in a review on Consumer Affairs, one user writes that “What sets them apart from other brokerage firms is their customer service. Every time I have had to speak to them, the representatives have been informative, helpful and quick. I would recommend E*Trade to everyone, especially beginners in trading.”

Another reviewer on Bankrate notes that they find both the mobile app and web platform useful. “I received an ETrade account from a previous employer for equity that I was granted. It was easy to establish, and since I already had an account there, I expanded it to include my own personal investments. I use both the app (mainly to check in) and the website (for more in-depth analysis),” they write.

Some reviewers, however, say that the company has lost its step over the years. “I have been an E*TRADE customer since shortly after its inception in 1995 (over 25 years). The 

service’ and ‘dedication’ to its customers has declined,” writes a reviewer on WalletHub.

The bottom line

To sum it all up, E*TRADE is a stalwart of online brokerages. It’s been around for a long time, and that’s allowed it to build up a mountain of resources for investors. Now that it’s also a part of Morgan Stanley, those resources are even more robust. As such, it can be a good brokerage for investors of all types and experience levels.

That said, it’s not perfect, and users will likely find something they don’t like. But it may be a good place to start your search for a brokerage, given its mix of resources, mobile and web apps, and straightforward platform.

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