Pricing and Rates
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Detailed pricing
Stock and options trades
| Pricing | 0–29 Trades/QTR | 30+ Trades/QTR |
|---|---|---|
| Stock and options trades (US Exchange-listed stocks) |
$0 | $0 |
| Options contract fee | $0.65 | $0.50 |
| Exercise / assignments | $0 | $0 |
| Dime Buyback Program Close short options priced at 10¢ or less, no contract fee Learn more |
$0 contract fee | |
For options orders, an options regulatory fee will apply. Additional regulatory and exchange fees may apply.
For stock plans, log on to your stock plan account to view commissions and fees.
Broker assisted trades
Customers will be charged an additional $25 for broker-assisted trades, (excluding Extended Hours overnight session trades placed via broker between 4 a.m. and 7 a.m. ET), plus applicable commission and fees. Directed trades executed through E*TRADE Pro to an ECN during regular market hours and Extended Hours sessions are subject to directed order fee of $0.005 per share. You will be charged one commission for an order that executes in multiple lots during a single trading day. Orders that execute over more than one trading day, or orders that are changed, may be subject to an additional commission.
Standard commissions for stock and options trades are $0 (plus an additional $0.65 per options contract). For options orders, an options regulatory fee will apply.
Over-the-counter stock trades
A $6.95 commission (or a $4.95 commission for customers who execute at least 30 stock, ETF, and options trades per quarter) applies to online trades of OTC stocks , including OTC, OTCBB, grey market, and OTC-traded foreign securities.
Exchange-traded funds (ETFs)
| Pricing | 0–29 Trades/QTR | 30+ Trades/QTR |
|---|---|---|
| ETFs |
$0 | $0 |
The fund's prospectus contains its investment objectives, risks, charges, expenses, and other important information and should be read and considered carefully before investing. For a current prospectus, visit www.etrade.com/mutualfunds or visit the Exchange-Traded Funds Center at www.etrade.com/etf.
Bonds
| U.S. Treasury auction | $0 |
| U.S. Treasury secondary trades online | $0 |
| Online secondary trades | $1 per bond (minimum $10, maximum $250) |
| Broker-assisted trades | Online secondary pricing plus $20 commission |
| New issues (except Treasury auction) | Offering price includes a selling concession |
E*TRADE from Morgan Stanley may act as principal or agent on any bond transaction. When acting as principal, we will add a markup to any purchase, and subtract a markdown from every sale. The markup or markdown will be included in the price quoted to you and you will not be charged any commission or transaction fee for a principal trade. Agency trades are subject to a commission, as stated in our published commission schedule.
Includes agency bonds, corporate bonds, municipal bonds, brokered CDs, pass-throughs, CMOs, asset-backed securities.
Secondary market trades executed through a Fixed Income Specialist may be subject to a commission.
Futures
| Futures contract commission |
$1.50 per contract, per side + fees (excluding cryptocurrency futures)* |
* Commissions for cryptocurrency futures products are $2.50 per contract, per side + fees.
In addition to the $1.50 per contract per side commission, futures customers will be assessed certain fees including applicable futures exchange and National Futures Association (NFA) fees, as well as floor brokerage charges for execution of non-electronically traded futures and futures options contracts. These fees are not established by E*TRADE Futures LLC, and will vary by exchange.
Mutual funds
| No-load, no-transaction-fee funds | $0 |
| Load funds | See prospectus for amount of load |
The fund’s prospectus contains its investment objectives, risks, charges, expenses and other important information and should be read and considered carefully before investing. For a current prospectus, visit www.etrade.com/mutualfunds.
Margin rates
Base rate effective as of 07/27/2023–11.70%
Stocks, options, and ETFs
| Debit Balance | Margin Rate |
|---|---|
| Less than $10,000 | 14.20% (2.50% above base rate) |
| $10,000 to $24,999.99 | 13.95% (2.25% above base rate) |
| $25,000 to $49,999.99 | 13.70% (2.00% above base rate) |
| $50,000 to $99,999.99 | 13.20% (1.50% above base rate) |
| $100,000 to $249,999.99 | 12.70% (1.00% above base rate) |
| $250,000 to $499,999.99* | 12.20% (0.50% above base rate) |
*For balance tiers $500K and above, please call 800-998-8079 to learn about our latest rate offers.
Margin trading involves risks and is not appropriate for all investors. Rates are subject to change without notice. Rates are set at the discretion of Morgan Stanley Smith Barney LLC ("Morgan Stanley") with reference to commercially recognized interest rates, such as the broker call loan rate.
Trading on margin involves risk, including the possible loss of more money than you have deposited. In addition, Morgan Stanley can force the sale of any securities in your account without contacting you if your equity falls below required levels, and you are not entitled to an extension of time in the event of a margin call. For more information, please read the risks of trading on margin at www.etrade.com/margin.
The base rate is set at Morgan Stanley's discretion with reference to commercially recognized interest rates, such as the broker call loan rate. Base rates are subject to change without prior notice, including without limitation on an intraday basis.
Transactions in futures carry a high degree of risk. The amount of initial margin is small relative to the value of the futures contract. A relatively small market movement will have a proportionately larger impact on the funds you have deposited or will have to deposit: this may work against you as well as for you. You may sustain a total loss of initial margin funds and any additional funds deposited with the Firm to maintain your position. If the market moves against your positions or margin levels are increased, you may be called upon by the Firm to pay substantial additional funds on short notice to maintain your position. If you fail to comply with a request for additional funds immediately, regardless of the requested due date, your position may be liquidated at a loss by the Firm and you will be liable for any resulting deficit.
Managed Portfolios
Core Portfolios
Professionally managed advisory solution that builds, monitors, and manages a customized portfolio to help reach your financial goals. Learn more
| Account market value | Flat annual advisory fee |
|---|---|
| $500+ | 0.30% |
The advisory fee is paid monthly in advance based on the managed portfolio’s market value on the last business day of the previous billing month. No further action is required on your part.
As the market value of the managed portfolio reaches a higher breakpoint, as shown in the tables above, the assets within the breakpoint category are charged a lower fee (a blend of the different tiered fee rates listed).
Other fees
Index Option Fee (IOF)
| Underlying Symbol | Description | Fee Per Contract |
|---|---|---|
| SPX | S&P 500 Index | $0.56 |
| RUT | Russell 2000 Index | $0.09 |
| VIX | CBOE Market Volatility Index | $0.29 |
| OEX | S&P 100 Index (American-style exercise) | $0.34 |
| XEO | S&P 100 Index (European-style exercise) | $0.40 |
| DJX | Dow Jones Industrial Average Index 1/100 | $0.12 |
Please note IOF fees are subject to change.
The fees charged by E*TRADE related to a transaction for the account of Customer are designed to offset third-party fees generally charged to E*TRADE in respect of such transactions, including without limitation any regulatory or transaction fee or tax, market center fee, clearing house fee or depository fee, assessed by any regulatory authority, self-regulatory organization, market center, clearing house, clearing agency or depository, including without limitation the SEC, FINRA, any national securities exchange or other market center, DTC and NSCC. E*TRADE shall have the right to determine such fees in its reasonable discretion, and such fees may differ from or exceed the actual third-party fees properly paid by E*TRADE in connection with any transaction. These differences may be caused by various factors, including, among other things, the rounding methodology used by E*TRADE, the use of allocation accounts and transactions or settlement movements for which a fee may not be assessed, timing differences in changes, third-party rate caps and floors, calculation errors and various other anomalous reasons.
| FINRA trading activity fee (TAF) |
$0.000166* |
| Section 31 fee | $0.000008* |
* FINRA levies a Trading Activity Fee (TAF) for sales of covered securities that we pass through to you. The FINRA TAF for sales of equity securities is currently $0.000166 per share with a per-transaction cap of $8.30. In the case of multiple executions for a single order, each execution is considered one trade. For example, if you sell 1,000 equity securities the fee would be the number of shares 1,000 multiplied by $0.000166 which equals $0.166. The FINRA TAF for option sales is currently $0.00279 per contract. For example, if you sell 100 options contracts, the fee would be the number of contracts 100 multiplied by $ 0.00279, which equals $0.279. The FINRA TAF for the sale of a covered TRACE-eligible security (other than an asset-backed security) and/or municipal security is $0.00105 multiplied by the number of bonds, with a maximum charge of $1.05 per trade. For example, if you sell 100 bonds, then the fee would be $0.105. Please note FINRA TAF Fees are subject to change.
** In addition to your regular commission, a separate transaction fee (equal to the principal amount x $0.000008) will apply to the sale of all equities, options, and exchange-traded fund (ETF) securities. The fee, calculated as stated above, only applies to the sale of equities, options, and ETF securities and will be displayed on your trade confirmation. The transaction fee is a fee collected by the United States Securities and Exchange Commission to recover the costs to the Government for the supervision and regulation of the securities markets and securities professionals. All fees will be rounded to the next penny.
Account activity fees
| Check returned for insufficient funds | $25 |
| Electronic transfer returned for insufficient funds | $25 |
| Reg T Call Extension | $0 |
| Reorganizations | $38 for mandatory actions (e.g., mergers, reverse stock splits) $38 for voluntary actions (e.g., tender offers) $50 for actions reflected on physical certificates |
| Restricted securities custody | $150 |
| Worthless securities processing | $0 |
| American Depositary Receipts (ADRs) custody fee | $.005—$.05 per share |
| Financial transaction tax (FTT) Ordinary and ADR | French companies
|
| Forced margin liquidation | $25.00 |
| Foreign transactions | Morgan Stanley Private Bank imposes a charge equal to 1% of the transaction amount (including credits and reversals) for non-U. S. currency and foreign transactions. |
A one-time fee applied when the custodian of a limited partnership is changed from another brokerage firm to E*TRADE.
Transfer agents and banks that sponsor ADRs are permitted to charge ADR holders an annual custody fee. The fee is administered through the Depository Trust Company (DTC) which typically will be subtracted from the gross dividend amount payable and / or collected from E*TRADE by the DTC and deducted from your account if the ADR does not pay a dividend. The fee will be posted to your monthly account statement and transaction history pages as "ADR Custody Fee."
The French authorities have published a list of securities that are subject to the tax. The list is comprised of companies headquartered in France and whose market capitalization exceeds EUR 1 billion as of January 1, 2012. E*TRADE is obligated to collect and remit the FTT to the French authorities. Please note companies are subject to change at anytime.
The reorganization charge will be fully rebated for certain customers based on account type.
A forced margin liquidation fee occurs when E*TRADE liquidates a position(s) on behalf of a customer in order to meet minimum margin account balance requirements.
Forced margin liquidations may be subject to additional fees, including a broker assisted trade fee and/or brokerage commission.
Paper statement fee
| Paper statement fee | You will be charged a $2.00 handling fee for each E*TRADE paper statement mailed to your address of record, unless an exemption applies. |
| The $2.00 handling fee for paper account statements will be charged to your account each quarter to cover any paper statements mailed to you in the previous three months unless any of the following exceptions apply: | |
| Exemptions: | Account types |
| Customers currently enrolled with electronic statements | |
| Retirement and custodial accounts | |
| Global trading accounts | |
| Other relationships with E*TRADE | |
| Stock plan accounts for current employees of current E*TRADE Financial Corporate Services clients | |
| Minimum balance | |
| Customers with a combined value of $10,000 in cash and securities in linked E*TRADE accounts | |
| Customers with a combined balance of $20,000 or more in linked E*TRADE and Morgan Stanley Private Bank accounts |
Special request fees
| Overnight mail | $25 |
| Account transfers (outgoing) | $75 for full transfers |
| Check copies | $15 per copy |
| Check requests | $0 |
| Checkbook reorders | $0 |
| Stop payment requests | $25 |
| Stock certificate requests (domestic) | $60 per certificate |
| Foreign stock certificate requests | $250 per certificate |
| Wire transfers | $0 incoming $25 outgoing |
| Foreign currency disbursement fee | Up to 300 basis point (3.00%). Please click here |
| Duplicate account statements or tax forms | $5 per statement or form (access these documents online) for free |
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