Power E*TRADE is a trading platform used by active retail traders to analyze markets, build complex options strategies, and execute trades across multiple asset classes.
Product Overview
We pulled together the available data to build this Power E*TRADE review, focusing entirely on what the software actually delivers to the end user. The platform serves as the advanced trading interface for E*TRADE brokerage customers and is now part of the broader Morgan Stanley ecosystem. It is built specifically for users who need more than basic buy-and-hold functionality.
The platform comes in two primary formats. The first is a web and mobile application designed for active traders who want to monitor positions, analyze derivatives, and trade on the go. The second is Power E*TRADE Pro, a downloadable desktop application tailored for high-velocity traders who require customizable multi-monitor layouts and direct market access.
The core value proposition is providing professional-grade charting, real-time streaming quotes, real-time scanning tools, and advanced derivatives analysis tools without requiring a separate monthly software subscription fee. Traders can access U.S. equities, exchange-traded funds, options, and futures from a single unified account interface, making it a full-featured workstation for domestic market participants.
What Does Power E*TRADE Actually Do Well?
Integrated Options Analysis and Execution: Power E*TRADE is heavily optimized for options traders. The platform includes visual strategy tools that allow users to view a stock's expected price move, average implied move, and average historical move directly on the screen [1]. Traders can select a specific strategy and enter an earnings move order directly from the analysis tool. Compared to TD Ameritrade's thinkorswim, which offers a broader general-purpose interface with deep custom scripting via thinkScript, Power E*TRADE provides a more tightly integrated web and mobile workflow specifically centered around options chains and risk-reward visualizers.
Advanced Charting and Pro Desktop Tools: For technical traders, the platform provides extensive charting capabilities with pre-built technical indicators and drawing tools. Users who qualify for the Power E*TRADE Pro desktop application gain access to Level II quotes, depth-of-market views, and real-time scanning tools to identify trading opportunities based on price and volume criteria [2]. The Pro version also supports configurable hotkeys for rapid order entry. Compared to Fidelity Active Trader Pro, which is consistently highlighted for integrated third-party research from providers such as Morningstar and deep fundamental analysis tools, Power E*TRADE leans heavier into options analytics and derivatives trading features.
Unified Access to Multiple Asset Classes: The platform allows traders to execute orders across U.S. listed stocks, options, exchange-traded funds, and futures contracts [3]. This broad product access means active traders do not need to split their capital across different specialized brokers to trade different instruments. Compared to Interactive Brokers Trader Workstation, the market access is narrower. Interactive Brokers provides direct access to dozens of international markets and foreign exchange trading, whereas Power E*TRADE focuses on U.S. equity, options, and futures markets.
No Platform Subscription Fees: The advanced tools provided in both the web interface and the Pro desktop application do not require a monthly software fee. Access is tied entirely to trading activity and account balances, allowing retail traders to utilize professional-grade scanning and charting software without increasing their fixed monthly overhead costs [4].
What Are Traders Saying About Power E*TRADE?
Aggregate sentiment data shows a sharp divide based on the platform being reviewed. Trustpilot rates E*TRADE overall at roughly 1.2 stars across over 700 reviews, while the mobile applications maintain mid to high 4-star averages on the App Store and Play Store.
What users praise
On the App Store, reviewers consistently highlight the mobile application as easy to use, noting that it provides excellent options trading tools and charting capabilities on the go. Users appreciate the convenience of monitoring positions and placing trades directly from their phones without needing to boot up a desktop computer. On G2, reviewers frequently mention the zero-commission structure for stock and ETF trades, along with the competitive pricing for options. Reviewers on these platforms also praise the ability to trade multiple asset classes, including stocks, options, and futures, all within a single interface. A minority of users across these platforms report that the application is reliable for their daily trading needs and that customer service is helpful when reached.
What users complain about
Reddit threads and Trustpilot reviews frequently mention severe technical problems, describing the platform as glitchy and prone to freezing during volatile market sessions. Users report delayed quotes and login failures that prevent them from executing trades when timing matters most, leading to serious trust concerns about being trapped in positions during market drops. Trustpilot reviewers also consistently describe customer service as slow, unhelpful, and difficult to reach, citing long hold times and unanswered messages. Additionally, users on Trustpilot report unexpected account closures, prolonged holds on funds, and difficulties processing withdrawals. Finally, Play Store and App Store reviewers complain that recent app redesigns have made the user interface confusing and less intuitive, particularly for newer investors trying to find specific order types.
Pros and Cons
Pros
- Zero-Commission Stock and ETF Trades: No commissions on online trades for U.S. listed stocks and exchange-traded funds [3]
- Discounted Options Pricing: Active traders executing 30 or more trades per quarter receive a reduced options contract rate of $0.50 [3]
- Highly Rated Mobile App: Mobile application is highly rated for providing advanced options trading tools and charting on the go [5]
- Pro Desktop Features: Pro desktop application includes customizable multi-monitor layouts, Level II quotes, and configurable hotkeys for rapid order entry [2]
- Multi-Asset Access: Users can access stocks, options, mutual funds, and futures from a single brokerage account [6]
Cons
- Technical Instability: Mobile users frequently report technical glitches, login failures, and application crashes following recent software updates [7]
- Confusing Interface Redesign: Reviewers cite that recent design changes have made the interface less intuitive and harder to navigate for specific order types [5]
- Limited Customization and Global Access: Third-party analysis notes that the platform lacks the deep custom scripting capabilities and global market access found in competing platforms [8]
How Much Does Power E*TRADE Cost?
Pricing
The research points to Power E*TRADE offering streaming quotes and real-time data for active trading, though access to specific real-time exchange data depends on user entitlements and account status. The platform itself does not charge a monthly subscription fee. Access to the web, mobile, and Pro desktop versions is included for eligible brokerage customers.
| Trade Type | Cost | Details |
|---|---|---|
| U.S. Stocks & ETFs | $0 commission | Online trades for U.S. listed stocks and exchange-traded funds |
| Options (Standard) | $0.65 per contract | Base rate for options trades |
| Options (Active Trader) | $0.50 per contract | For customers making 30+ stock, ETF, or options trades per quarter |
| Futures | $1.50 per contract per side | Plus exchange and regulatory fees |
| Broker-Assisted Trades | $25 per trade | Trades placed through a live broker |
| Account Minimum | $0 | Standard brokerage accounts have no minimum; margin and futures accounts have additional requirements |
Pricing data sourced from [3] and [6].
Our Read
Bottom line: We found, across the sources we reviewed, that Power E*TRADE is best suited for active U.S. retail traders who prioritize options and futures trading from a unified web or mobile interface. The visual strategy tools and active-trader commission discounts make it a strong contender for high-volume options traders.
Best for: Active U.S. retail traders focused on options strategies and futures, who want professional-grade charting and derivatives tools without a monthly software subscription fee.
Skip if: You require direct access to international markets (consider Interactive Brokers instead), rely heavily on custom technical scripting (thinkorswim may be a better fit), or are concerned about platform stability and customer support responsiveness during volatile market conditions.
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Key Takeaways
- Power E*TRADE comes in two formats: a web and mobile app for active traders and Power E*TRADE Pro, a downloadable desktop application built for high-velocity traders who need multi-monitor layouts and direct market access.
- The platform covers U.S. equities, ETFs, options, and futures from a single account interface, with no separate monthly software subscription fee required.
- Options traders get visual strategy tools and integrated derivatives analysis, making it one of the more complete options-focused platforms available without a paid add-on.
- Traders who need international market access or custom technical scripting should look elsewhere: Interactive Brokers and thinkorswim are the recommended alternatives for those use cases.
- Platform stability and customer support responsiveness during volatile market conditions are cited as genuine concerns, not minor caveats.
DISCLAIMER: Traders Agency does not offer financial advice. The information provided is for educational purposes only and should not be considered financial advice. Traders Agency is not responsible for any financial losses or consequences resulting from the use of the information provided. Trading carries inherent risks and may not be suitable for all individuals. You are advised to conduct your own research and seek personalized advice before making any investment decisions, recognizing the potential risks and rewards involved.
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