ETRADE from Morgan Stanley
Pros
- $0 online US-listed stock, ETF, mutual fund and options trades
- No brokerage account minimums or maintenance fees
- Options contract fee falls to $0.50 with 30+ quarterly trades
- Power ETRADE App trades stocks, ETFs, options and futures
- Core Portfolios add rebalancing and tax-loss harvesting
- CME Group and CFE futures quote fees are absorbed
Cons
- OTC trades cost $6.95, or $4.95 after 30+ quarterly trades
- Broker-assisted trades add $25
- Outgoing full account transfers cost $75
- Outgoing wires cost $25
- Crypto access is indirect through ETPs, trusts and futures
- Futures accounts are not protected by SIPC
- Core Portfolios require $500 and charge 0.30% annually
- Paper statements cost $2.00 each unless exempt