If you want a brokerage that has advanced trading tools but is still easy to use, E*TRADE from Morgan Stanley is worth a look.
E*TRADE offers commission-free trading of stocks, ETFs, mutual funds, and options, a wide selection of account types, and helpful tools for new and experienced investors. It’s a great choice for almost anyone, no matter their level of experience.
Here’s a closer look at the pros and cons of investing with E*TRADE.
What to like about E*TRADE
Beginner-friendly platform
E*TRADE’s website and mobile app are simple and intuitive. Users can easily buy their first stocks, track performance, and explore investment options without feeling overwhelmed. The app supports quick funding, secure logins, and real-time trade execution.
You’ll also get access to 24/7 phone support and beginner-friendly tutorials, articles, and interactive tools to help you if you’re just starting out.
Advanced tools with Power E*TRADE
For more experienced investors, E*TRADE also offers the Power E*TRADE Pro platform with advanced charting, technical analysis, real-time market news, and more.
This makes E*TRADE a strong option for more active investors. I also like the idea of multi-monitor support, so you can track your investments across as many screens as you like.
IRAs, savings account, and more
In addition to regular brokerage accounts, E*TRADE offers access to individual retirement accounts (IRAs) and a high-yield savings account with a 4.00% APY. It’s a versatile platform that can help with all (or most) of your financial goals.
And with lesser-known options like Coverdell ESAs (to save for a child’s education) and IRAs for minors with earned income, you can ensure your kids are prepared for their futures, too.
Want to start your investing journey today? Check out our full E*TRADE review and open an account now.
What could be better
No fractional shares or crypto trading
Unlike some competitors, E*TRADE doesn’t allow investors to purchase fractional shares. You can reinvest dividends into fractional shares, and you can get them through ETFs and mutual funds, but you can’t buy them outright.
That makes it harder to invest in high-priced stocks, since you’ll have to commit enough money to buy at least one whole share.
E*TRADE also doesn’t offer direct crypto trading. Anyone looking to buy or sell crypto directly will need to use another platform.
Is E*TRADE right for you?
E*TRADE is a strong choice for all sorts of investors. Beginners get access to an intuitive interface with tons of investment options, while more active investors can appreciate its advanced tools and analytics.
Investors who want fractional shares or direct access to cryptocurrency will want to look elsewhere. For everyone else, though, E*TRADE is a great all-around option.
Ready to start trading now? Check out our list of the best stock brokers for beginners to find the best match for your investing needs.