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E*TRADE vs. Power E*TRADE: Which Brokerage Account Is Right for You?

Review Updated
Dana George
By: Dana George
Dana George
Dana George
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Dana George has a BA in Management and Organization Development from Spring Arbor University. For more than 25 years, she has written and reported on business and finance, and she's still passionate about her work. Dana and her husband recently moved to Champaign, Illinois, home of the Fighting Illini. And though she finds the color orange unflattering on most people, she thinks they'll enjoy Champaign tremendously.

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Ashley Maready
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Ashley Maready
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Ashley Maready is a former history museum professional who made the leap to digital content writing and editing in 2021. She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it's information about salt mining, canal mules, or personal finance.

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E*TRADE offers two mobile apps, each designed with a different user experience in mind. The E*TRADE app makes investing and trading simple by providing basic tools in an uncomplicated way. Power E*TRADE provides users with in-depth information. E*TRADE calls it a "premier platform, a streaming, trading environment with live charts, order and position management, analysis, and more."

In other words, the E*TRADE app may be better for new investors, while Power E*TRADE provides all the intel an experienced investor looks for. Here, we break down the difference between E*TRADE and Power E*TRADE to help you determine which is better for you.

E*TRADE
Open Account for E*TRADE

On E*TRADE's Secure Website.

Ratings Methodology
E*TRADE

E*TRADE

Open Account

Double arrow

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Fees:

Commission-free; other fees apply

Account Minimum:

$0

Special Offer Circle with letter I in it. Open a new eligible E*TRADE brokerage account, fund your account within 60 days of opening, and earn a cash bonus of up to $1,000, depending on the size of your deposit. Offer good for one use per customer, on a single account.

Open and fund and get up to $5,000

Open Account for E*TRADE

On E*TRADE's Secure Website.

E*TRADE vs. Power E*TRADE Investing: Commissions & fees

E*TRADE and Power E*TRADE differ only in terms of research and trading tools. In short, each was created with a different type of investor in mind. The commissions and investment fee schedules are precisely the same: Neither charges a commission for trading stocks, ETFs, or options (although investors do pay $0.50 per equity and index option contract and $1.50 per futures option contract). Mutual funds are also available for purchase without a commission. In addition, neither account charges a maintenance fee or an inactivity fee.

E*TRADE and Power E*TRADE
Stock & ETF commissions $0
Options commissions $0 + $0.65 per contract (0-29 trades/QTR)
$0 + $0.50 per contract(30+ trades/QTR)
Crypto commissions N/A
Mutual fund commissions $0
Account transfer fee $75 (full transfers only)
Account maintenance fee $0
Data source: E*TRADE.

E*TRADE vs. Power E*TRADE: Investments available

Although E*TRADE does not currently offer fractional shares, crypto, or currencies, it does present a fairly impressive array of other investment opportunities.

Investment types E*TRADE and Power E*TRADE
Stocks and ETFs Yes
Fractional shares No
Options Yes
Mutual funds Yes
CDs Yes
Bonds Yes
Futures Yes
Crypto No
Currencies No
Data source: E*TRADE.

Alternatives to Consider

We recommend comparing brokerage options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of our best trading platforms of 2024.

Account Fees Account Minimum
Logo for SoFi Active Investing
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
$0 for stocks, $0 for options contracts $0
Open Account for SoFi Active Investing
Logo for Robinhood
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
$0 for stocks, ETFs, and options; $5 monthly for Robinhood Gold $0
Open Account for Robinhood
Logo for E*TRADE
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Commission-free; other fees apply $0
Open Account for E*TRADE

E*TRADE vs. Power E*TRADE: Account types available

Investors will have little trouble finding the types of investment accounts they prefer. This includes Roth IRAs, custodial accounts, and taxable brokerage accounts. Users even have access to checking accounts, savings accounts, and an American Express card.

Account types E*TRADE and Power E*TRADE
Taxable brokerage Yes
Joint tenant Yes
Margin Yes
Robo-advisor Yes
Traditional IRA Yes
Roth IRA Yes
Other IRAs/Retirement Yes, including Rollover IRAs
Custodial Yes
Checking Yes
Savings Yes
Credit card Yes, the Morgan Stanley Blue Cash Preferred® American Express Card
Data source: E*TRADE.

E*TRADE vs. Power E*TRADE: Mobile app and trading platforms

When it comes to the E*TRADE and Power E*TRADE mobile apps and trading platforms, there's little to complain about. While the iOS versions of the app score higher with users than the Android version, they're both rich with the kind of information investors need to make fully educated trade decisions.

E*TRADE

Platform highlights

E*TRADE's award-winning mobile app makes it easy to trade, invest, and track the markets on the go. Investors can use it with iOS or Android devices, including the Apple Watch. Even though it's designed for new traders, it's chock full of useful information intended to get investors off on the right foot.

Mobile app

Opinions regarding E*TRADE mobile apps are warm. iOS users give the app 4.6 out of 5 stars, and Android users rate it 3.9 out of 5 stars.

Power E*TRADE

Platform highlights

The most impressive feature of the Power E*TRADE platform is its snapshot analysis. The broker provides a real-life picture of the risks and rewards associated with specific trades. This includes the maximum potential profit, maximum potential loss, and what it would take to break even. The snapshot's visual representation makes it easy to quickly gauge the level of risks vs. potential rewards.

Mobile app

Access to the account is available through the Power E*TRADE app. iOS users give the app a strong score of 4.5 out of 5 stars. Android users offer a slightly less complimentary score of 3.7.

Final take

There is no winner or loser here. Comparing E*TRADE to Power E*TRADE is like comparing a bunny slope with a black diamond ski slope. It all depends on the trader's experience.

Research tools set E*TRADE apart from Power E*TRADE. E*TRADE is certainly no slouch when it comes to research for new investors. Both the E*TRADE web platform and mobile app provide users with real-time quotes and market insights.

However, in-depth research is built into the Power E*TRADE app. Everything, from technical studies to risk metrics, is available at an investor's fingertips. While the Power E*TRADE platform may look intimidating at first glance, it's easy to become familiar with each of the tools and how they work. Fortunately, Power E*TRADE is also customizable, meaning traders can set it to show the information they rely on most.

Perhaps the best thing about having each of these platforms available is that it gives novice investors a chance to expand their knowledge and experience at their own pace.

E*TRADE
Open Account for E*TRADE

On E*TRADE's Secure Website.

Ratings Methodology
E*TRADE

E*TRADE

Open Account

Double arrow

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Fees:

Commission-free; other fees apply

Account Minimum:

$0

Special Offer Circle with letter I in it. Open a new eligible E*TRADE brokerage account, fund your account within 60 days of opening, and earn a cash bonus of up to $1,000, depending on the size of your deposit. Offer good for one use per customer, on a single account.

Open and fund and get up to $5,000

Open Account for E*TRADE

On E*TRADE's Secure Website.

FAQs

  • Thankfully, you don't have to guess. E*TRADE and Power E*TRADE are free to use if you're an E*TRADE customer. Go through each platform to see how comfortable you are with them, then opt for the one that feels like the best fit.

  • With E*TRADE accounts, you have more than one option. If you're not a fan of the mobile app, log into the web version.