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Get up to $1,000 for a limited time¹

Open and fund a new brokerage account with a qualifying deposit by 01/31/26. Terms apply. Use promo code: OFFER25

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Trade stocks, ETFs, and mutual funds online without commissions and keep more of your money in the market. Other fees may apply.²

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Get up to $2,000,* plus APY³

Open and fund a Premium Savings Account with qualifying deposits by 02/28/2026. Terms apply. Use promo code: SAVE26.

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Open an E*TRADE account today and experience the freedom to trade on your terms and the confidence of Morgan Stanley behind you.

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Please read all the important disclosures below.

Investing:

Check the background of Morgan Stanley Smith Barney LLC on FINRA's BrokerCheck and see the Morgan Stanley Smith Barney LLC Relationship Summary.

Investment Products • Not FDIC Insured • No Bank Guarantee • May Lose Value

Banking:

Banking products and services are provided by Morgan Stanley Private Bank, National Association, Member FDIC.

Banking Products • FDIC Insured • Bank Guarantee

FDIC Insured - Backed by the full faith and credit of the U.S. Government

Important Note: Futures and options transactions are intended for sophisticated investors and are complex, carry a high degree of risk, and are not suitable for all investors. For more information, please read the Characteristics and Risks of Standardized Options and the Risk Disclosure Statement for Futures and Options prior to applying for an account. You can also view the E*TRADE Futures LLC Financial Information and Disclosure Documents.

Supporting documentation for any claims made regarding options will be supplied upon request.

Investing in securities involves risk, including the loss of principal.

Unless stated otherwise, the web content provided by E*TRADE is for educational purposes only. The information and tools provided neither are, nor should be construed as, an offer, or a solicitation of an offer, or a recommendation, to buy or sell securities or other instruments by E*TRADE. Unless stated otherwise, no information presented constitutes a recommendation by E*TRADE to buy, sell, or hold any security, financial product, or instrument discussed therein, or to open a particular account or to engage in any specific investment strategy. This information neither is, nor should be construed, as an offer, or a solicitation of an offer, or a recommendation, to buy, sell, or hold any security, financial product or instrument or to open a particular account or engage in any specific investment strategy.

The investments listed may not be appropriate for all investors. The appropriateness of a particular investment will depend upon an investor's individual circumstances and objectives. Before buying or selling any investment, you should carefully consider your individual financial situation, investment objectives, risk tolerance, and liquidity needs to determine for yourself whether the investment is appropriate for you.

*INTRODUCTION:

In the following disclosure, the words “we”, us”, and “Bank”, refer to Morgan Stanley Private Bank, National Association ("Morgan Stanley Private Bank"), Member FDIC.

ELIGIBILITY AND LIMITATIONS:

To be eligible for this cash bonus offer, you must apply a valid promotional code obtained through one of our authorized affiliate marketing partners at the time of account opening. This promotional code is intended for single use only and is non-transferable.

This offer is only valid for a new Premium Savings Account. This offer is not valid for Checking, Max-Rate Checking or line of credit, or other accounts that we or our affiliates offer. IRA and non-IRA Brokerage accounts are ineligible. This offer is only eligible to one new opened and funded Premium Savings Account (PSA) within thirty (30) days. Excludes non-U.S. residents, and residents of any jurisdiction where this offer is not valid. Customer may only be enrolled in one PSA offer at a time. Cannot be combined with any other PSA offers.

Each customer is limited to a lifetime maximum of two new PSA cash bonus offers. Offer may be removed at any time.

Other restrictions may apply.

OFFER RULES FOR ALL PARTICIPANTS:

1. Open Account: Open one new Premium Savings Account between 01/02/2026 and 02/28/2026. No minimum initial deposit is required to open an account; however, the account must be funded within thirty (30) days to remain open.

2. Deposit Funds: Deposit a minimum of $20,000 or more in net-new funds* over the first thirty (30) days following account opening (“Deposit Period”). At the end of the Deposit Period, all net new funds will be totaled to determine which Deposit Tier you have satisfied (see below). Net-new funds do not include any deposits transferred from accounts provided by us (e.g. Checking, Max-Rate Checking), or any of our affiliates.

Bonus Chart

Deposit Tier	Minimum Maintenance Balance	Cash Credit Tier
$20,000 - $49,999	$20,000	$300
$50,000 - $74,999	$50,000	$750
$75,000 - $99,999	$75,000	$1,000
$100,000 - $199,999	$100,000	$1,500
$200,000 or more	$200,000	$2,000

3. Maintain Balance: Maintain an average daily balance in your enrolled Premium Savings Account that meets the Minimum Maintenance Balance of the Deposit Tier you have satisfied in Step 2. The average daily balance calculation will begin from Day thirty (30) of account opening and will end forty-five (45) days following (“Maintenance Period”).

4. Receive Bonus: After the requirements are satisfied, we will deposit the bonus within thirty (30) days following the end of the Maintenance Period. The bonus will correspond to the Cash Credit Tier for which you qualify, based on the amount deposited during the Deposit Period and maintained during the Maintenance Period. If the Deposit Tier is higher than what is maintained over the Maintenance Period, or vice versa, you will qualify for the lower Cash Credit Tier. Please see below for an example.

Example: Please see below for an example of how you can earn a cash bonus.

You open your Premium Savings account between 01/02/2026 and 02/28/2026.
Within thirty (30) days of account opening (the Deposit Period), you deposit $50,000 - $74,999 in net new funds.
For the forty-five (45) days immediately following the Deposit Period (the Maintenance Period), you maintain an average daily balance of at least $50,000.
The successful completion of Steps 1, 2 and 3 qualify you for a cash credit of $750. However, let’s say your average daily balance during the Maintenance Period drops between $20,000 - $49,999. In this case, you would only receive $300, notwithstanding your $50,000 deposit during the Deposit Period.

The applicable cash credit tier will be determined following the close of the Maintenance Period and will be paid out within thirty (30) days after the Maintenance Period (or one hundred and five (105) days following account opening). Cash credits will be paid to the account where the deposit is made.

*Net new funds are funds that originate from outside of the Bank into the Premium Savings Account, minus any funds withdrawn from the Premium Savings Account and sent out of the Bank. This includes funds deposited from accounts that are external to us and all our affiliates (i.e. transfers from another bank account). Net-new funds do not include any deposits transferred from accounts provided by us (e.g. Checking, Max-Rate Checking), or any of our affiliates.

BONUS PAYMENT:

You must keep your account open and in good standing to receive the bonus. If your account is in default, restricted or closed for any reason prior to such time, including being closed by us, you may not be eligible for the bonus.

If we determine, in our sole discretion, that you have violated the Morgan Stanley Private Bank, National Association Deposit Account Agreement or have engaged in abuse, misuse, or gaming in connection with your account, we may determine that you are not eligible for the Cash Bonus. In such circumstance, we may rescind or decline to award you the Cash Bonus. We reserve the right to modify or revoke this Cash Bonus offer at any time without notice. 

If you are not eligible or are deemed to be disqualified from receiving the bonus, we will notify you within one hundred and five (105) days of account opening.

Morgan Stanley Private Bank, National Association, Member FDIC reserves the right, in accordance with applicable laws, to terminate this offer at any time and to rescind or decline award payment for any reason.

Cash bonuses are treated as interest income for US tax purposes and will be reported on IRS Form 1099-INT and may be subject to 24% backup withholding if your account is not properly documented with a valid Form W-9. Taxes related to cash bonuses are the customer’s responsibility.  MSPBNA and its affiliates do not provide tax advice, and you should always consult your own tax advisor regarding your personal circumstances before taking any action that may have tax consequences.

Offer valid for new E*TRADE clients opening one new eligible brokerage (non-retirement) account and funded within 60 days of account opening with $1000 or more. Promo code ‘OFFER25’.

New clients opening only one account

This offer applies to clients who (i) are opening one new E*TRADE from Morgan Stanley self-directed brokerage (non-retirement) account (“E*TRADE account”); (ii) do not have an existing E*TRADE account; and (iii) do not open any other new E*TRADE accounts for 60 days after enrollment in this offer. If you are an existing client or plan to open more than one E*TRADE account, then please refer to the “Existing Clients or New Clients Opening More than One New Account” terms below.

Cash credits will be granted based on deposits of new funds or securities from external accounts made within 60 calendar days of account opening.

Reward tiers under $200,000 ($1,000-$4,999; $5,000-$19,999; $20,000-$99,999; $100,000-$199,999) will be paid within seven business days following the expiration of the 60-day period. However, if you deposit $200,000 or more in the new E*TRADE account, then you will receive your cash credit within seven business days after the date of your deposit, followed by any additional reward owed based on your fulfillment tier at the expiration of the 60-day period. If you have deposited at least $200,000 in the new E*TRADE account and you make subsequent deposits in that new E*TRADE account to reach a higher tier, then you will receive a second cash credit following the close of the 60-day window. For example, if you deposit $250,000 into your new E*TRADE account, then you will receive a cash credit of $800 within seven business days after the date of your deposit. Then if you deposit an additional $300,000 into your new E*TRADE account, then you will receive an additional cash credit of $200 at the end of the 60-day window for a total reward of $1,000. If you deposit $5,000,000 in your new E*TRADE account, then you will receive two cash credits that will total $10,000 within seven business days after the date of your deposit. Cash credits will be paid to the new E*TRADE account where the deposit is made.

Existing clients or new clients opening more than one new account

Existing clients or new clients opening more than one account are subject to different offer terms. Please click here to view offer terms.

OFFER RULES FOR ALL PARTICIPANTS

This offer applies only to E*TRADE from Morgan Stanley self-directed (non-retirement) brokerage accounts.

New funds or securities must (i) be deposited or transferred to the new E*TRADE account within 60 days of enrollment in this offer; (ii) be from accounts outside of E*TRADE; and (iii) remain in the new E*TRADE account (minus any trading losses) for a minimum of twelve months after the 60-day funding period otherwise your cash credit(s) may be surrendered. For purposes of the value of a deposit, any securities transferred will be valued as of the closing price of that security on the business day the deposit is received as reflected in the transaction history. Removing any deposit or cash from the new E*TRADE account or eligible-linked account(s) during the promotion period (60 days) may result in a lower reward amount or loss of reward.

Any assets transferred to the new E*TRADE account from an existing Morgan Stanley AAA brokerage account(s) will be excluded from the reward amount calculations, at E*TRADE’s sole discretion.

If you are attempting to enroll in this offer with a Joint Account, then the primary account holder may have to fulfill at the tiers noted before the secondary account holder can enroll in this offer. If you experience any issues when attempting to enroll with a Joint Account, then please contact us at 800-387-2331 and we will be able to assist you with your enrollment.

OFFER LIMITATIONS

This offer is valid for one new E*TRADE self-directed brokerage (non-retirement) account and funded within 60 days with a qualifying deposit.

The following account types may be excluded from this offer: any business (incorporated or unincorporated) accounts, retirement accounts, advisory accounts, E*TRADE Futures accounts, Morgan Stanley AAA brokerage accounts, Morgan Stanley at Work Stock Plan account(s), Morgan Stanley Private Bank, National Association accounts (“Excluded Accounts”). This offer excludes non-U.S. residents, and residents of any jurisdiction where this offer is not valid. You must be the original recipient of this offer to enroll. Clients may only be enrolled in one offer at a time. This offer cannot be combined with any other offers. Each client is limited to a maximum of three new account offers.

E*TRADE reserves the right to terminate this offer at any time.

E*TRADE credits and offers may be subject to US withholding taxes and reporting at retail value. Taxes related to these credits and offer are the customer’s responsibility. Cash credits for Individual Retirement Accounts are treated as earnings for tax purposes. E*TRADE does not provide tax advice.

Morgan Stanley Smith Barney LLC does not provide tax advice, and you should always consult your own tax advisor regarding your personal circumstances before taking any action that may have tax consequences.

This offer neither is, nor should be construed as a recommendation or solicitation to buy, sell, or hold any security, financial product or instrument or to open a particular account or engage in any specific investment strategy.

Securities products offered by Morgan Stanley Smith Barney LLC, Member SIPC. E*TRADE is a business of Morgan Stanley.
E*TRADE from Morgan Stanley ("E*TRADE") charges $0 commissions for online US-listed stock, ETF, mutual fund, and options trades. Exclusions may apply and E*TRADE reserves the right to charge variable commission rates. The standard options contract fee is $0.65 per contract (or $0.50 per contract for clients who execute at least 30 stock, ETF, and options trades per quarter). The retail online $0 commission does not apply to Over-the-Counter (OTC) securities transactions, foreign stock transactions, large block transactions requiring special handling, futures, or fixed income investments. Service charges apply for trades placed through a broker ($25). Stock plan account transactions are subject to a separate commission schedule. All fees and expenses as described in a fund's prospectus still apply. Additional regulatory and exchange fees may apply. For more information about pricing, visit etrade.com/pricing.
As of , the Annual Percentage Yield (APY) of the Premium Savings Account offered by Morgan Stanley Private Bank, National Association is . Your interest rate and APY may change at any time and fees may reduce earnings. Please visit etrade.com/ratesheet for information regarding this account's current interest rate and corresponding APY.

Securities products and investment advisory services offered by Morgan Stanley Smith Barney LLC, Member SIPC and a Registered Investment Adviser. Commodity futures and options on futures products and services offered by E*TRADE Futures LLC, Member NFA. Stock plan administration solutions and services offered by E*TRADE Financial Corporate Services, Inc., and are a part of Morgan Stanley at Work. Banking products and services provided by Morgan Stanley Private Bank, National Association, Member FDIC. All entities are separate but affiliated subsidiaries of Morgan Stanley. E*TRADE from Morgan Stanley and Morgan Stanley at Work are registered trademarks of Morgan Stanley.

System response and account access times may vary due to a variety of factors, including trading volumes, market conditions, system performance, and other factors.

For information on the E*TRADE Customer Protection Guarantee visit the Security Center.

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