E*TRADE is one of the best-known US online brokers. It has been owned by Morgan Stanley since 2020 and now operates as “E*TRADE from Morgan Stanley”. It is important to know that E*TRADE is mainly a stock, options and futures broker: it does not offer spot forex trading.
Risk warning: Investing involves risk, including the possible loss of principal. Options and futures are complex and can lead to large losses. This review is for information only and is not investment advice.
E*TRADE at a glance
| Founded | 1982; online trading since the early 1990s |
| Owner | Morgan Stanley (since October 2020) |
| Regulation | E*TRADE Securities LLC: SEC/FINRA broker-dealer, SIPC member; futures via E*TRADE Futures LLC (CFTC/NFA) |
| Products | US stocks, ETFs, options, futures, mutual funds, bonds, spot crypto |
| Spot forex | Not offered |
Regulation and safety
E*TRADE is a US-regulated broker:
- E*TRADE Securities LLC: registered with the SEC, a member of FINRA and SIPC.
- E*TRADE Futures LLC: registered for futures trading with the CFTC and a member of the NFA.
- It mainly serves US residents.
Licence details above are as stated by E*TRADE. Always check the firm and website on the regulator’s official register before you open an account, and confirm which entity your account will be held with. Regulation does not protect you against trading losses. See our guide: How to check if a broker is legitimate.
Products and platforms
- US stocks and ETFs, options, futures (including currency futures), mutual funds and bonds.
- Spot crypto (introduced in 2026 through a partner), held outside the brokerage account and not covered by SIPC.
- No spot forex or CFDs.
- Platforms: E*TRADE web, Power E*TRADE (web and desktop) and mobile apps.
Accounts and fees
- $0 commission on US stocks and ETFs.
- Options: $0.65 per contract, lower for active traders.
- Futures: $1.50 per contract.
- $0 minimum deposit.
Fees, spreads and minimum deposits vary by region and account type and can change at any time. Check E*TRADE’s current pricing pages for your country before trading.
Leverage
E*TRADE is not a forex or CFD broker. Margin accounts are subject to US margin rules, and futures carry their own leverage and risks. Higher leverage increases both potential gains and losses. Read Can you lose more than you invest in forex?.
Things to be aware of
- If you want to trade spot forex, E*TRADE is not the right choice; currency exposure is only available through futures or ETFs.
- In 2022 FINRA fined E*TRADE Securities $350,000 over surveillance of potentially manipulative trading.
- Crypto holdings are not protected by SIPC.
Pros and cons
Pros
- Backed by Morgan Stanley
- $0 commission on US stocks and ETFs
- Strong platforms for options and futures
Cons
- No spot forex or CFDs
- Mainly for US residents
- Crypto held outside SIPC protection
Who might consider E*TRADE?
E*TRADE may suit US investors who want stocks, ETFs, options and futures with a large, established broker. It is not suitable for people looking to trade spot forex.
Summary
E*TRADE is a major US broker for stocks, options and futures, but not a forex broker. If forex is your focus, look at regulated forex brokers in your region instead. See our guide to investing in forex.
Information in this review was checked against E*TRADE’s published information and public regulatory records in November 2026. Details change, so always confirm the current terms on the broker’s own website and the regulator’s register.
Risk warning: Investing involves risk, including the possible loss of principal. Options and futures are complex and can lead to large losses. This review is for information only and is not investment advice.