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E-Trade Alternatives

May 2019
Our top picks for E-Trade alternatives
Interactive Brokers
TD Ameritrade

The best alternatives to E-Trade are

  1. Interactive Brokers - US discount broker
  2. TD Ameritrade - US-based stockbroker
  3. Tradestation - US stockbroker

Let's see in a bit more detail how the E-Trade alternatives compare to E-Trade and each other:

E-Trade alternatives comparison
E-Trade Interactive Brokers TD Ameritrade Tradestation
Overall score 4.5 4.8 4.5 4.4
Fees score 3 stars 4 stars 3 stars 4 stars
Account opening score 4 stars 3 stars 3 stars 4 stars
Deposit and withdrawal score 2 stars 2 stars 2 stars 2 stars
Web platform score 4 stars 4 stars 4 stars 4 stars
Markets and products score 3 stars 5 stars 3 stars 2 stars
Visit broker Visit broker Visit broker Visit broker

Why are these brokers considered good alternatives to E-Trade? There are many areas based on which E-Trade can be compared with others. When we say a given online broker is a good alternative to E-Trade we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

E-Trade alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • E-Trade is recommended for investors and traders looking for solid research and great mobile trading platform
  • Interactive Brokers is recommended for traders who prefer low fees and a professional trading environment
  • TD Ameritrade is recommended for investors and traders looking for solid research and well-equipped desktop trading platform
  • Tradestation is recommended for traders wanting great research tools and preferring the us markets

Important factors of finding E-Trade alternatives

So far Brokerchooser has reviewed 56 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether E-Trade or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. The amounts E-Trade charges you are considered average. When picking an alternative, you could prioritize brokers that are cheaper than E-Trade.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At E-Trade, the account opening is slower than average, so if you consider this important some E-Trade alternatives can be a good choice.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at E-Trade, some alternatives might allow you to do that.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given E-Trade alternative is a must.


Now let's dive into the details of how E-Trade and its alternatives perform in the most important areas!

E-Trade alternatives
E-Trade

4.5 5 stars

E-Trade logo

E-Trade was founded in 1982 and it is a US-based stockbroker. It is regulated by the Securities and Exchange Commission (SEC), and the Financial Industry Regulatory Authority (FINRA).

E-Trade is considered safe because it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials, and is regulated by top-tier regulators.

Recommended for investors and traders looking for solid research and great mobile trading platform

Pros
  • Solid research tools
  • Well-designed mobile trading platform
  • Good customer service
Cons
  • No credit/debit cards and electronic wallets for money transfer
  • Only US markets covered
  • Slow account verification

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Fees 3 stars

E-Trade has high trading and low non-trading fees. E-Trade charges no commission for some ETFs, bonds, and mutual funds.
Pros
  • No withdrawal fee
  • No inactivity fee
  • Some ETFs, bonds, and mutual funds are free
Cons
  • High trading fees
  • High financing rate
E-Trade alternatives trading fees
E-Trade Interactive Brokers TD Ameritrade Tradestation
Apple benchmark fee $14.1 $2.2 $14.1 $2.2
Vodafone benchmark fee - $17.9 - -
EURUSD benchmark fee - $23.0 $44.3 -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 4 stars

The account opening is fully digital and user-friendly for US clients. On the flip side, the account verification process was slow.
Pros
  • Fully digital account opening
  • User-friendly
Cons
  • Slow account opening
E-Trade alternatives minimum deposit and account open times
E-Trade Interactive Brokers TD Ameritrade Tradestation
Minimum deposit $500 $0 $0 $500
Time to open account >3 days 1-3 days 1-3 days 1-3 days

Learn more about E-Trade minimum deposit here.

More Visit broker

Deposit and withdrawal 2 stars

E-Trade deposit and withdrawal can be improved. You can use only bank transfer, there is only USD as a base currency, a high fee is charged for wire transfer withdrawals. As a plus, there is no deposit fee and transferring money is easy and user-friendly for US clients.
Pros
  • Free withdrawal
  • No deposit fee
  • User-friendly for US clients
Cons
  • Credit/Debit card not available
  • Only one account base currency
E-Trade and alternatives withdrawal options and fees
E-Trade Interactive Brokers TD Ameritrade Tradestation
Bank Transfer Yes Yes Yes Yes
Credit/Debit card No No No No
Electronic wallets No No No No
Withdrawal fee $0 $0 $0 $35

More Visit broker

Web trading platform 4 stars

E-Trade has a great web-based trading platform. It is user-friendly and well-designed. On the negative side, there is no two-step login.
Pros
  • User-friendly
  • Clear fee report
  • Good variety of order types
Cons
  • No two-step (safer) login
E-Trade - Web trading platform
E-Trade and alternatives trading platform scores
E-Trade Interactive Brokers TD Ameritrade Tradestation
Web platform score 4 stars 4 stars 4 stars 4 stars
Mobile platform score 5 stars 4 stars 4 stars 5 stars
Desktop platform score - 3 stars 5 stars 3 stars

Learn more about E-Trade's web trading platform in the detailed E-Trade review.

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Markets and products 3 stars

At E-Trade, you can trade with a lot of asset classes, from stocks to futures, but not with forex. However, the offered products cover only the US market.
E-Trade and alternatives markets and products
E-Trade Interactive Brokers TD Ameritrade Tradestation
Stock Yes Yes Yes Yes
ETF Yes Yes Yes Yes
Forex No Yes Yes No
Fund Yes Yes Yes Yes
Bond Yes Yes Yes No
Options Yes Yes Yes Yes
Futures Yes Yes Yes Yes
CFD No Yes No No
Crypto No Yes No No

More Visit broker

Verdict

E-Trade is one of the biggest US stockbrokers regulated by top-tier regulators.

E-Trade's research functions are high-quality and channel a lot of tools, including trading ideas, and strategy builders builders as well. We liked the easy handling and the persionalizable features of the mobile trading platform. The customer service is great, you will get relevant answers within a short time.

It has some drawbacks though. E-Trade doesn't provide credit/debit cards and electronic wallets for money transfers. The product portfolio covers only US markets. The account verification process is slow. 

As the research tools are great and no inactivity fee is charged, feel free to try it.

E-Trade
Summary E-Trade is a US stockbroker, regulated by top-tier regulators, the SEC and FINRA. The company is listed on NASDAQ and has banking background.
Fees score 3 stars
Recommended for Investors and traders looking for solid research and great mobile trading platform

More Visit broker

E-Trade alternatives
Interactive Brokers

4.8 5 stars

Best online broker

Interactive Brokers logo

Interactive Brokers was founded in 1978 and it is one of the biggest US-based discount brokers. It is regulated by several regulators globally, including top-tier authorities like FCA and SEC. Interactive Brokers Group is listed on the New York Stock Exchange.

Interactive Brokers is considered safe because it has a long track record, is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.

Recommended for traders who prefer low fees and a professional trading environment

Pros
  • Broad product portfolio
  • Low fees
  • Great and diverse research tools
Cons
  • Funding and withdrawal only through bank transfer
  • Complicated account opening process
  • Not user-friendly and complicated desktop trading platform

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Fees 4 stars

Interactive Brokers has low trading fees and high non-trading fees. The fees are transparent.
Pros
  • Low trading fees
  • Transparent fee structure
Cons
  • Inactivity fee
E-Trade vs. Interactive Brokers: Trading fees
Interactive Brokers E-Trade
Apple benchmark fee $2.2 $14.1
Vodafone benchmark fee $17.9 -
EURUSD benchmark fee $23.0 -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 3 stars

The account opening process is fully digital, but slow and complicated.
Pros
  • Fully digital account opening
  • No minimum deposit for most accounts
Cons
  • Slow account opening
  • Not user-friendly
  • Confusing messages throughout the process
E-Trade vs. Interactive Brokers: Minimum deposit, time to open an account
Interactive Brokers E-Trade
Minimum deposit $0 $500
Time to open account 1-3 days >3 days

If you are interested more in Interactive Brokers minimum deposit, this overview will help you.

More Visit broker

Deposit and withdrawal 2 stars

Interactive Brokers offers a lot of base currencies and one withdrawal per month is free. On the negative side, only bank transfer is available.
Pros
  • Several account base currencies
  • No charge for the first withdrawal each month
Cons
  • Credit/Debit card not available
  • Slow funding and withdrawal - over 3 days
E-Trade vs. Interactive Brokers: Withdrawal options
Interactive Brokers E-Trade
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

More Visit broker

Web trading platform 4 stars

The Interactive Brokers web platform is simple and easy to use, even for beginners. On the negative side, it is a bit complicated to customize.
Pros
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
Cons
  • Limited customizability (for charts, workspace)
Web trading platform of Interactive Brokers, a E-Trade alternative
E-Trade vs. Interactive Brokers: Trading platform scores
Interactive Brokers E-Trade
Web platform score 4 stars 4 stars
Mobile platform score 4 stars 5 stars
Desktop platform score 3 stars -

Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.

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Markets and products 5 stars

Interactive Brokers allows you access to a very wide range of markets and you can trade with all product types. IB's product range is the widest available.
E-Trade vs. Interactive Brokers: Markets and products
Interactive Brokers E-Trade
Stock Yes Yes
ETF Yes Yes
Forex Yes No
Fund Yes Yes
Bond Yes Yes
Options Yes Yes
Futures Yes Yes
CFD Yes No
Crypto Yes No

More Visit broker

Verdict

IB is one of the biggest discount US brokers regulated by top-tier regulators. If you like low-cost trading and easily navigate on a really complicated platform, Interactive Brokers is for you. We mainly recommend IB for traders.

It has low trading fees, a wide range of product portfolio, and diverse research tools. 

On the flip side, only bank transfer is available for deposit and withdrawal. The account opening and the desktop platform are not user-friendly and complicated.

Interactive Brokers is definitely recommended if you want low fees, a lot of products and you are experienced to cope with a complicated platform.

Interactive Brokers
Summary Interactive Brokers is a US discount broker. IB is listed on stock exchange and regulated by several authorities, like the top-tier FCA and SEC.
Fees score 4 stars
Recommended for Traders who prefer low fees and a professional trading environment

More Visit broker

E-Trade alternatives
TD Ameritrade

4.5 5 stars

TD Ameritrade logo

TD Ameritrade was founded in 1971 and it is one of the big US discount brokers. It is regulated by top tier regulators, like US SEC.

TD Ameritrade is considered safe because it has a long track record, is listed on stock exchange, has a banking background, discloses its financials, and is regulated by top-tier regulators.

Recommended for investors and traders looking for solid research and well-equipped desktop trading platform

Pros
  • Solid research and education
  • Superb desktop trading platform
  • Great customer support
Cons
  • High trading fees
  • No credit/debit cards and electronic wallets for money transfer
  • Only US markets covered

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Fees 3 stars

TD Ameritrade has high trading and low non-trading fees. It charges no commission for some ETFs, bonds, and mutual funds.
Pros
  • No withdrawal fee
  • No inactivity fee
Cons
  • High trading fees
  • High financing rate
E-Trade vs. TD Ameritrade: Trading fees
TD Ameritrade E-Trade
Apple benchmark fee $14.1 $14.1
Vodafone benchmark fee - -
EURUSD benchmark fee $44.3 -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 3 stars

Opening an account is easy, but not fully digital. For US-clients there is no minimum deposit.
Pros
  • User-friendly
  • Many account types
  • No minimum account balance for US clients
Cons
  • Not fully digital
E-Trade vs. TD Ameritrade: Minimum deposit, time to open an account
TD Ameritrade E-Trade
Minimum deposit $0 $500
Time to open account 1-3 days >3 days

If you are interested more in TD Ameritrade minimum deposit, this overview will help you.

More Visit broker

Deposit and withdrawal 2 stars

TD Ameritrade deposit and withdrawal can be improved. You can use only bank transfer, there is only USD as a base currency, and a high fee is charged for wire transfer withdrawals. As a plus, there is no deposit fee and transferring money is easy and user-friendly.
Pros
  • Free withdrawal
  • No deposit fee
  • User-friendly
Cons
  • Credit/Debit card not available
  • Only one account base currency
E-Trade vs. TD Ameritrade: Withdrawal options
TD Ameritrade E-Trade
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

More Visit broker

Web trading platform 4 stars

TD Ameritrade offers a good web-based trading platform with a clean design. On the flip side, there is no two-step login and the platform is not customizable.
Pros
  • User-friendly
  • Clear fee report
  • Good search function
Cons
  • No two-step (safer) login
  • Limited customizability (for workspace)
Web trading platform of TD Ameritrade, a E-Trade alternative
E-Trade vs. TD Ameritrade: Trading platform scores
TD Ameritrade E-Trade
Web platform score 4 stars 4 stars
Mobile platform score 4 stars 5 stars
Desktop platform score 5 stars -

Learn more about TD Ameritrade's web trading platform in the detailed TD Ameritrade review.

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Markets and products 3 stars

At TD Ameritrade, you can trade with a lot of asset classes, from stocks to futures and forex. However, the offered products cover only the US market.
E-Trade vs. TD Ameritrade: Markets and products
TD Ameritrade E-Trade
Stock Yes Yes
ETF Yes Yes
Forex Yes No
Fund Yes Yes
Bond Yes Yes
Options Yes Yes
Futures Yes Yes
CFD No No
Crypto No No

More Visit broker

Verdict

TD Ameritrade is one of the biggest discount US brokers regulated by top-tier regulators.

Research and education are outstanding and covers a lot of tools. The thinkorswim desktop trading platform is one of the best on the marketThe customer service is great, you will get relevant answers within a short time.

It has some drawbacks though. It charges high fees. It doesn't provide credit/debit cards and electronic wallets for money transfers. The product portfolio covers only US markets. 

As the research tools are great, the account opening is seamless, and no inactivity fee is charged, feel free to try it.

TD Ameritrade
Summary TD Ameritrade is a US stockbroker, regulated by top-tier regulators, the SEC and FINRA. The company is listed on NASDAQ and has banking background (TD Group).
Fees score 3 stars
Recommended for Investors and traders looking for solid research and well-equipped desktop trading platform

More Visit broker

E-Trade alternatives
Tradestation

4.4 4 stars

Tradestation logo

TradeStation is a US broker with a long history dating back to 1982. Its parent company, the Monex Group is listed on the Tokyo stock exchange.

TradeStation is considered safe as it is regulated by a top-tier regulator, the US FINRA. Clients are eligible for the SIPC investor protection scheme which offers up to $500,000 (cash up to $250,000) per account.

Recommended for traders wanting great research tools and preferring the us markets

Pros
  • Great mobile trading platform
  • Wide range of reserach tools
  • High-quality educational tools
Cons
  • Not user-friendly deposit and withdrawal
  • No forex
  • Bad customer service

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Fees 4 stars

TradeStation has low trading fees and there are multiple fee structures to choose from. Non-trading fees, like inactivity fees are high.
Pros
  • Low trading fees
  • More fee structures you can choose from
Cons
  • High non-trading fees
E-Trade vs. Tradestation: Trading fees
Tradestation E-Trade
Apple benchmark fee $2.2 $14.1
Vodafone benchmark fee - -
EURUSD benchmark fee - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 4 stars

TradeStation account opening is fully digital and user-friendly. On the other hand, it takes more days until your account is approved.
Pros
  • Fully digital account opening
  • User-friendly
Cons
  • Slow account opening
E-Trade vs. Tradestation: Minimum deposit, time to open an account
Tradestation E-Trade
Minimum deposit $500 $500
Time to open account 1-3 days >3 days

If you are interested more in Tradestation minimum deposit, this overview will help you.

More Visit broker

Deposit and withdrawal 2 stars

TradeStation deposit and withdrawal can be improved. As a plus, the deposit is free. However, you can use only bank transfer and there is a high, $35 withdrawal fee.
Pros
  • No deposit fee
Cons
  • Credit/Debit card not available
  • Not user-friendly
  • High withdrawal fee (for non-US clients $35 /tansaction)
E-Trade vs. Tradestation: Withdrawal options
Tradestation E-Trade
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $35 $0

More Visit broker

Web trading platform 4 stars

TradeStation has a good web trading platform. It is user-friendly with and looks nice. It also offers a great order management. On the flip side, it lacks the alerts and the clear fee reports.
Pros
  • User-friendly
  • Good customizability (for charts, workspace)
  • Good variety of order types
Cons
  • No clear fee report available
  • No price alerts
Web trading platform of Tradestation, a E-Trade alternative
E-Trade vs. Tradestation: Trading platform scores
Tradestation E-Trade
Web platform score 4 stars 4 stars
Mobile platform score 5 stars 5 stars
Desktop platform score 3 stars -

Learn more about Tradestation's web trading platform in the detailed Tradestation review.

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Markets and products 2 stars

TradeStation gives you access to a wide variety of US products. However, its non-US offer is not competitive. The forex, CFDs and cryptos are missing.
E-Trade vs. Tradestation: Markets and products
Tradestation E-Trade
Stock Yes Yes
ETF Yes Yes
Forex No No
Fund Yes Yes
Bond No Yes
Options Yes Yes
Futures Yes Yes
CFD No No
Crypto No No

More Visit broker

Verdict

TradeStation is a great US broker.

The mobile platform is very user-friendly with many functions. It also offers great research tools, including a wide range of analytical tools. Lastly, education is well-structured and high-quality. 

On the other hand, the deposit and withdrawal are not user-friendly and you can use only bank transfer. It lacks many asset classes, e.g. forex or CFDs. The customer service can be improved as the response time at email and chat support are very slow.

Feel free to try TradeStation if you prefer Recommended for buy and hold investors with any experience level.

Tradestation
Summary TradeStation is a US stockbroker regulated by FINRA, the top-tier US regulator.
Fees score 4 stars
Recommended for Traders wanting great research tools and preferring the US markets

More Visit broker

E-Trade alternatives
Bottom line

Based on our analysis, there are several good alternatives to E-Trade. They all offer similar products and target similar customers. Here's a recap of the results in a table.

E-Trade alternatives
Broker Info Recommended for
E-Trade US stockbroker Investors and traders looking for solid research and great mobile trading platform
Interactive Brokers US discount broker Traders who prefer low fees and a professional trading environment
TD Ameritrade US-based stockbroker Investors and traders looking for solid research and well-equipped desktop trading platform
Tradestation US stockbroker Traders wanting great research tools and preferring the US markets

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

AUTHOR

Dan Sallai
Dan Sallai
CMO
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
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