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TradeStation and E*TRADE from Morgan Stanley are both hugely popular brokers with powerful investment platforms that give investors a lot of vroom behind the wheel. And while they have many things in common -- like commission-free stock and ETFs -- they also have major differences that could make one more well-suited than the other for certain investors. Below, we'll delve deeper into these similarities and differences to help you decide which is the best platform for you.
| Offer |
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|---|---|---|
| Rating |
Rating 
4.50/5
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 |
Rating
4.90/5
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 |
| Commissions |
Commissions |
Commissions |
| Account Minimum |
Account Minimum |
Account Minimum |
| Learn More |
Both E*TRADE and TradeStation are surprisingly cheap. That is, unless you want to trade mutual funds.
Neither broker charges commissions for stocks or ETFs. But whereas mutual fund trades are free on E*TRADE from Morgan Stanley, TradeStation charges a $14.95 commission. While that's pretty standard for mutual fund trading (many brokers, in fact, charge more), it's still a big fee compared to $0.
With options trading, TradeStation has a cheaper per-contract fee, but E*TRADE from Morgan Stanley isn't too far behind: $0.60 vs. $0.65. And if you make at least 30 trades a quarter, E*TRADE's per-contract fee becomes cheaper than TradeStation ($0.50), unless you have the TS SELECT plan, which would then make them both equal.
| TradeStation | E*TRADE | |
|---|---|---|
| Stock & ETF commissions | $0 | $0 |
| Options commissions | $0 + $0.60 per contract ($0.50 per contract with TS SELECT) | $0 + $0.65 per contract, or $0.50 with 30 or more trades per quarter |
| Crypto commissions | $0 | N/A |
| Mutual fund commissions | $14.95 | $0 |
| Account transfer fee | $125 | $75 (full transfer) |
| Account maintenance fee | $0 but charges $10 inactivity fee | $0 |
TradeStation has fewer investment choices than E*TRADE. For example, you can buy brokered CDs through E*TRADE and it offers 6,000 mutual funds. TradeStation doesn't sell brokered CDs, and its mutual fund selection is only a third of E*TRADE's.
As of writing this, neither E*TRADE nor TradeStation offer direct exposure to cryptocurrencies. While this could change in the future for E*TRADE, it appears as if TradeStation has exited the crypto market indefinitely. On Feb. 22, 2024, it discontinued its crypto services. If you're interested in direct exposure to crypto, you'll have to buy it through a crypto exchange or app.
| TradeStation | E*TRADE | |
|---|---|---|
| Stocks and ETFs | Yes | Yes |
| Fractional shares | No | No |
| Options | Yes | Yes |
| Mutual funds | More than 2,000 | More than 6,000 |
| CDs | No | Yes |
| Bonds | Yes | Yes |
| Futures | Yes | Yes |
| Crypto | No | No |
| Currencies | No | No |
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 2026.
| Broker | Best For | Commissions | Learn More |
|---|---|---|---|
4.90/5
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 |
Managing your finances under one roof | $0 for stocks, $0 for options contracts |
Learn More for SoFi Active Investing
On SoFi Active Investing's Secure Website. |
|
4.90/5
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 |
Long-Term Investors, Stocks and Options Traders | Commission-free stock, mutual fund, and ETF trades; other fees apply |
Learn More for E*TRADE from Morgan Stanley
On E*TRADE's Secure Website. |
5.00/5
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 |
Full-service investing at every experience level | $0 commission for online U.S. stock and ETFs*. No account fees****. |
Learn More for Fidelity
On Fidelity's Secure Website. |
When it comes to account types, E*TRADE again trumps TradeStation. That's mainly because of Morgan Stanley's takeover of E*TRADE, which has made the former's checking and savings accounts accessible to those with an E*TRADE account. It also offers robo-advising, which is missing from TradeStation.
| TradeStation | E*TRADE | |
|---|---|---|
| Taxable brokerage | Yes | Yes |
| Joint tenant | Yes | Yes |
| Margin | Yes | Yes |
| Robo-advisor | No | Yes |
| Traditional IRA | Yes | Yes |
| Roth IRA | Yes | Yes |
| Other IRA | SEP, SIMPLE | SEP |
| Custodial | UGMA/UTMA | Yes |
| Checking | No | Yes |
| Savings | No | Yes |
| Credit card | No | Yes |
Both TradeStation and E*TRADE have powerful trading platforms and apps with robust tools, research, and market commentary. In a head-on-head comparison, you're basically watching Godzilla wrestle with King Kong.
TradeStation has a feature-rich trading platform known for its complex charting capabilities. For example, you can overlay over 120 technical indicators to help you analyze market volatility or give you a sense of how the market might be trending. These tools might be overwhelming for beginners, but for advanced and experienced investors, it can give you multiple ways to analyze an investment.
E*TRADE isn't far behind. Its web-based platform has impressive charting capabilities and highly rated options trading features. It's also highly customizable, too, allowing you to modify charts in whatever way helps you spot potential opportunities. It also has numerous screeners for stocks, ETFs, mutual funds, and option trading.
All in all, these are two goliath platforms with a lot of firepower in their tools and charting capabilities. However, if you want to trade mutual funds, or you're interested in robo-advising, E*TRADE from Morgan Stanley may be better suited for you. Otherwise, you might want to watch videos of both platforms in action -- neither one offers a free trial -- or take a look at other top brokerages to see if another one better suits your needs.
On TradeStation's Secure Website.
A discount broker that's designed for active traders and cost-sensitive investors. You can often spend less than with other platforms.
$0 stock trades
$0
New accounts with qualifying assets earn $50 to $5,000 using code FOOLAFYJ
On TradeStation's Secure Website.
2026 Award Winner
E*TRADE offers low fees and tons of account types. If you need it, chances are, E*TRADE has it. You can access advanced features through its popular Power E*TRADE platform. Open an E*TRADE account to trade fee-free mutual funds and do all your investing in one place.
Commission-free; other fees apply
$0
Open and fund a brokerage account and get up to $1,500. Terms apply.
On E*TRADE's Secure Website.
You'll pay an annual fee of 0.30% of your initial investment, for a minimum investment of $500.
There is no account service fee for TS Select plan holders. Per-trade, per-share plans charge $149.95 per month unless the account meets certain minimum activity requirements, which include:
Motley Fool Stock Disclosures
The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.E*TRADE services are available just to U.S. residents.
Fidelity disclosure
Investing involves risk, including risk of loss
* - $0.00 commission applies to online U.S. equity trades and exchange-traded funds (ETFs) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (historically from $0.01 to $0.03 per $1,000 of principal). Other exclusions and conditions may apply. A limited number of ETFs are subject to a transaction-based service fee of $100. See full list at Fidelity.com/commissions. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Institutional® are subject to different commission schedules.
**Fidelity Crypto® is offered by Fidelity Digital Assets®. Investing involves risk, including risk of total loss. Crypto as an asset class is highly volatile, can become illiquid at any time, and is for investors with a high risk tolerance. Crypto may also be more susceptible to market manipulation than securities. Crypto is not insured by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation. Investors in crypto do not benefit from the same regulatory protections applicable to registered securities. Fidelity Crypto® accounts and custody and trading of crypto in such accounts are provided by Fidelity Digital Asset Services, LLC, which is chartered as a limited purpose trust company by the New York State Department of Financial Services to engage in virtual currency business (NMLS ID 1773897). Brokerage services in support of securities trading are provided by Fidelity Brokerage Services LLC (“FBS”), and related custody services are provided by National Financial Services LLC (“NFS”), each a registered broker-dealer and member NYSE and SIPC. Neither FBS nor NFS offer crypto as a direct investment nor provide trading or custody services for such assets. Fidelity Crypto and Fidelity Digital Assets are registered service marks of FMR LLC.
***Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request.
****Zero account minimums and zero account fees apply to retail brokerage accounts only. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs) and commissions, interest charges, or other expenses for transactions may still apply. See Fidelity.com/commissions for further details.
