E*TRADE
E*TRADE from Morgan Stanley is a US digital brokerage and banking platform serving self-directed retail investors, active traders, and banking customers. It offers commission-free trading, robo-advisor, crypto, retirement, and FDIC-insured banking products under Morgan Stanley ownership.
- Company typePrivate
- Founded1982
- HeadquartersArlington, United States
- Headcount1,001–5,000
- GTM typeB2C
- OfferingServices
What E*TRADE does
E*TRADE from Morgan Stanley is a US-focused digital brokerage and banking platform operated as a wholly-owned subsidiary of Morgan Stanley (NYSE: MS), following Morgan Stanley's 2020 acquisition valued at approximately $13 billion. The platform serves self-directed retail investors, active and professional traders, retirement savers, banking customers, and stock plan participants through a multi-product architecture built around two trading front-ends (the E*TRADE Platform for general investors and Power E*TRADE Platform for active traders), a banking suite from Morgan Stanley Private Bank, N.A. (Premium Savings, Max-Rate Checking, CDs, Line of Credit), the Core Portfolios robo-advisor, retirement accounts, Morgan Stanley at Work stock plan administration, and a recently added cryptocurrency trading offering powered by Zero Hash. The technology stack integrates proprietary trading interfaces with third-party infrastructure (Zero Hash for crypto custody and execution, Yodlee for Total Wealth View account aggregation, Covr for insurance distribution), and the platform is supported by SIPC membership through Morgan Stanley Smith Barney LLC and FDIC insurance on banking products.
The business model is multi-stream and transaction- plus spread-driven. Core US-listed stocks, ETFs, and mutual funds trade commission-free, while monetization comes from options contract fees ($0.65 standard, $0.50 for 30+ trades/quarter), futures contract fees ($1.50 per side), bond transaction fees ($1 per bond), crypto commissions (0.50%), payment for order flow on equities and options, a 0.30% annual advisory fee on Core Portfolios AUM, and net interest margin on banking deposits. Promotional customer acquisition incentives include up to $1,500 for new brokerage accounts and $400 for new Premium Savings Accounts.
The platform operates exclusively within the United States, with explicit restrictions on non-US residents, and is distributed primarily through direct-to-consumer digital channels (self-serve online account opening, mobile apps, phone support, mail-in applications) supplemented by one-on-one guidance from Morgan Stanley Financial Advisors for higher-touch segments. Brand equity is a meaningful asset: Power E*TRADE Web has held the #1 Web Trading Platform ranking from StockBrokers.com for 14 consecutive years as of the 2026 Annual Awards, with 15 Best in Class distinctions, and the Premium Savings Account has been named Best Savings Account for Investors by Buy Side from the Wall Street Journal for three consecutive years.
E*TRADE firmographics
Firmographics- Name
- E*TRADE
- Legal name
- Morgan Stanley Smith Barney LLC
- Website
- https://us.etrade.com
- Company type
- Private
- Founded year
- 1982
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- E*TRADE from Morgan Stanley is a US digital brokerage and banking platform serving self-directed retail investors, active traders, and banking customers. It offers commission-free trading, robo-advisor, crypto, retirement, and FDIC-insured banking products under Morgan Stanley ownership.
- Ownership category
- akta.pro rank
E*TRADE industry classification
Industry- Product category
- Retail Online Brokerage
- NAICS
- Investment Banking and Securities Intermediation (52315), Securities and Commodity Contracts Intermediation and Brokerage (5231), Portfolio Management and Investment Advice (523940), Commodity Contracts Intermediation (52316)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)
- akta.pro primary industry
- Digital Brokerage & Self-Directed Investing Platforms (FSAGAEAC)
- akta.pro secondary industries
- Discount & Online Retail Brokerage (FSAEACAB), Equities Brokerage (FSAEACAH)
Keywords
Where E*TRADE is headquartered
LocationHeadquarters
- HQ city
- Arlington
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
E*TRADE business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Trading Commissions and Fees: Commissions charged per trade including options contracts, futures contracts, and bonds. Stocks, ETFs, and mutual funds are commission-free.
- Options Contract Fees: $0.65 per contract standard rate, reduced to $0.50 for clients with 30+ trades per quarter.
- Crypto Trading Commissions: 0.50% commission on the dollar value of each crypto trade.
- Advisory Fees - Core Portfolios: 0.30% annual advisory fee on Core Portfolios (robo-advisor) managed assets.
- Banking Products: Interest rate spreads on Premium Savings Accounts, Max-Rate Checking, and Certificates of Deposit through Morgan Stanley Private Bank.
- Payment for Order Flow: Receives payment for order flow from market centers for routing customer orders in NMS securities and options.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Commission-free trading for basic investment products |
| Unit Pricing | Pay-as-you-go | Options contract pricing with volume discount |
| Unit Pricing | Pay-as-you-go | Futures contract trading |
| Unit Pricing | Pay-as-you-go | Bond trading |
| Transaction based/ take rate | Pay-as-you-go | Cryptocurrency trading commission |
| Subscription | Monthly | Premium Savings Account promotional rate |
| Subscription | Monthly | Max-Rate Checking |
| Subscription | Annual | Core Portfolios robo-advisor |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
E*TRADE product offering
Product offeringCore offering
E*TRADE from Morgan Stanley provides a self-directed digital brokerage and banking platform enabling US retail investors to trade stocks, ETFs, options, mutual funds, futures, bonds, and cryptocurrencies commission-free or at low rates. The platform bundles brokerage accounts, high-yield banking products (Premium Savings, Max-Rate Checking, CDs), retirement accounts (Traditional/Roth/SIMPLE IRA), automated Core Portfolios robo-advisor, and Total Wealth View asset aggregation, all backed by Morgan Stanley institutional research and integrated with Morgan Stanley Private Bank.
Product overview
E*TRADE from Morgan Stanley is a comprehensive financial services platform offering a multi-product architecture centered around self-directed trading (E*TRADE Platform and Power E*TRADE Platform), banking services (Premium Savings Account, Max-Rate Checking, CDs, Lines of Credit), and advisory solutions (Core Portfolios robo-advisor and Morgan Stanley Financial Advisors). The platform provides brokerage accounts for stocks, options, mutual funds, ETFs, futures, and bonds, with crypto trading added in 2026. Additional services include retirement accounts, stock plan administration through Morgan Stanley at Work, and Total Wealth View for cross-institutional asset aggregation. All banking products are provided by Morgan Stanley Private Bank, National Association (FDIC member), while securities services are provided by Morgan Stanley Smith Barney LLC (SIPC member).
Differentiator
Problem solved
Functional benefit
Brands
- E*TRADE Platform: Online trading platform for aspiring and experienced investors, offering stocks, ETFs, mutual funds, and options trading with $0 commission trades.
- Power E*TRADE Platform
- Core Portfolios
- Premium Savings Account
- Max-Rate Checking
- Crypto Essentials
- Morgan Stanley at Work
Products and services
- Brokerage Account
- Power E*TRADE Platform
- E*TRADE Platform
- Premium Savings Account
- Max-Rate Checking
- Certificates of Deposit (CDs)
- Line of Credit
- Core Portfolios
- Crypto Trading
- Retirement Accounts
- Stock Plans (Morgan Stanley at Work)
- Morgan Stanley Financial Advisors
- Total Wealth View
Quantifiable outcome
- 15 Best in Class distinctions in StockBrokers.com 2026 Annual Awards across categories including Overall, Mobile Trading Apps, Options Trading, and Research
- +2 more outcomes
Companies that use E*TRADE
Customer profileSegments6 records
Ideal customer profiles6 records
E*TRADE technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability2 records
Feature7 records
E*TRADE partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- Zero Hash LLCcoreZero Hash LLC provides cryptocurrency trading and custody services for E*TRADE's crypto offering. Zero Hash LLC (NMLS #1699379) is a licensed Virtual Currency Business Activity operator by the New York State Department of Financial Services. All digital asset transactions and custody occur between the customer and Zero Hash outside of Morgan Stanley.
- Yodlee Inc.coreYodlee Inc. provides the asset aggregation technology powering Total Wealth View, E*TRADE's tool for consolidating external account information. Yodlee is the designated and exclusive account aggregator for E*TRADE and Morgan Stanley.
- Morgan Stanley Smith Barney LLCcoreParent company providing institutional research, market insights, and brand credibility. Morgan Stanley Smith Barney LLC (Member SIPC, Registered Investment Adviser) is the broker-dealer entity operating E*TRADE from Morgan Stanley.
- Morgan Stanley Private Bank, National AssociationcoreProvides banking products including Premium Savings Accounts, Max-Rate Checking, and Certificates of Deposit. Member FDIC. Banking products are FDIC-insured up to $500,000 for Premium Savings Accounts.
- Morgan Stanley at WorkcoreComprehensive stock plan administration solution offering equity compensation management, participant trading, and related services. Previously referred to as Shareworks, StockPlan Connect, or E*TRADE stock plan accounts.
- Covr Financial Technologies, Inc.minorProvides access to insurance products including term life and permanent life insurance through E*TRADE's platform. Covr is an unaffiliated entity providing direct-to-consumer insurance solutions.
Scale indicators5 records
Recent moves5 records
Expansion highlights5 records
E*TRADE competitors and assessment
Company assessmentDirect peers
- Charles Schwab: Largest US retail brokerage offering commission-free trading, multiple trading platforms, banking (Schwab Bank), and retirement accounts. Directly comparable in self-directed retail brokerage, banking integration, and advisor-assisted wealth management.
- Fidelity Investments: Full-service retail brokerage and asset manager with commission-free trading, Fidelity Go robo-advisor, retirement accounts, and cash management products. Competes head-to-head across E*TRADE's retail, retirement, and active-trader segments.
- Robinhood Markets: Digital-first commission-free broker popular with younger self-directed retail traders, offering stocks, options, and crypto. Closest peer on the self-directed retail brokerage model and primary disruptor of E*TRADE's core demographic.
- Interactive Brokers: Global multi-asset brokerage focused on active and professional traders with advanced platforms (Trader Workstation), competitive options/futures pricing, and broad international market access. Comparable to Power E*TRADE on active trader features.
Broad incumbents
- Merrill Lynch (Bank of America): Full-service wealth management franchise of Bank of America offering self-directed brokerage, advisor-led wealth management, and integrated banking. Comparable as a parent-backed incumbent combining brokerage, banking, and research distribution.
- The Vanguard Group: Largest US mutual fund and ETF provider with commission-free brokerage, robo-advisor, and retirement accounts. Comparable as a low-cost retail brokerage and ETF platform competing on price for passive investors.
- JPMorgan Chase (Self-Directed Investing): Bank of America's primary competitor offering self-directed brokerage (You Invest) integrated with Chase banking. Comparable as a parent-bank-backed platform combining brokerage, banking, and research.
Emerging players
- Webull: Mobile-first digital broker offering commission-free stocks, options, futures, and crypto trading. Closest emerging competitor targeting the same active and younger self-directed retail traders as E*TRADE.
- SoFi Technologies: Digital personal finance platform offering self-directed brokerage, robo-advisor, high-yield savings, and checking. Overlaps with E*TRADE on integrated brokerage + banking + automated investing for retail customers.
- Public.com: Mobile-first self-directed investing platform offering stocks, ETFs, options, and crypto with a community-driven UX. Competes for the same retail next-generation demographic with a differentiated social investing angle.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
E*TRADE social profiles
Digital presenceE*TRADE compliance and trust
Trust signalCompliance4 records
E*TRADE financial estimates
Financial estimateRevenue estimate
Valuation estimate
E*TRADE leadership team
Management profileNumber of profiles
E*TRADE subsidiaries and ownership
Company hierarchySubsidiaries4 records
E*TRADE funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
E*TRADE M&A and investment
M&A and investmentM&A10 records
Investments7 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about E*TRADE
What does E*TRADE do?
E*TRADE from Morgan Stanley provides a self-directed digital brokerage and banking platform enabling US retail investors to trade stocks, ETFs, options, mutual funds, futures, bonds, and cryptocurrencies commission-free or at low rates. The platform bundles brokerage accounts, high-yield banking products (Premium Savings, Max-Rate Checking, CDs), retirement accounts (Traditional/Roth/SIMPLE IRA), automated Core Portfolios robo-advisor, and Total Wealth View asset aggregation, all backed by Morgan Stanley institutional research and integrated with Morgan Stanley Private Bank.
Is E*TRADE a public or private company?
E*TRADE is a private company. It is classified as corporate owned and is currently operating.
When was E*TRADE founded?
E*TRADE was founded in 1982. It employs 1,001 to 5,000 people.
Where is E*TRADE based?
E*TRADE is headquartered in Arlington, United States, in the North America region.
How does E*TRADE make money?
Six revenue lines are on record. Trading Commissions and Fees are the primary driver. The others are options Contract Fees, crypto Trading Commissions, advisory Fees - Core Portfolios, banking Products and payment for Order Flow.
Who are E*TRADE's main competitors?
Direct peers on record are Charles Schwab, Fidelity Investments, Robinhood Markets and Interactive Brokers. Broad incumbents are Merrill Lynch (Bank of America), The Vanguard Group and JPMorgan Chase (Self-Directed Investing). Emerging players are Webull, SoFi Technologies and Public.com.
Does E*TRADE have an API?
Yes. E*TRADE offers an Application Program Interface (API) Developer License Agreement, indicating the existence of a developer API. Specific details on API type (REST, GraphQL, etc.), authentication methods, rate limits, and sandbox availability are not provided in the available source material. Developer documentation is at us.etrade.com/l/f/agreement-library/api-developer-licensing-agreement.
What industry is E*TRADE in?
E*TRADE's product category is Retail Online Brokerage. Its primary akta.pro industry code is FSAGAEAC, Digital Brokerage & Self-Directed Investing Platforms, with a secondary code of FSAEACAB, Discount & Online Retail Brokerage. Its NAICS code is 52315 and its SIC code is 6211.