Power E*TRADE
E*TRADE's advanced options and active trading platform with live options chains, strategy optimizer, risk analysis, and paper trading — all included free.
Quick Facts
- Starting Price
- Free
- Free Tier
- Yes
- Founded
- 2018
- Company
- Morgan Stanley
Power E*TRADE Overview
Power ETRADE is the advanced trading platform from ETRADE (Morgan Stanley), specifically designed for active traders and options traders. Available as both a web-based and mobile application, Power E*TRADE provides institutional-quality tools without requiring any additional subscription or platform fees.
The platform's options capabilities are its strongest suit: live streaming options chains with real-time Greeks, a Strategy Optimizer that suggests optimal strategies based on your market outlook, options Analyzer for complex P&L modeling, and the ability to trade multi-leg strategies with up to 4 legs in a single order. The Snapshot Analysis tool provides at-a-glance risk/reward summaries for any position.
Power ETRADE also includes advanced charting with 100+ technical studies, customizable chart drawing tools, real-time streaming quotes, and integrated news from Reuters and other providers. The paper trading feature (Paper Trading by Power ETRADE) allows new traders to practice strategies with virtual money. The platform is included free with any E*TRADE account — no separate subscription needed, making it one of the best value propositions for options traders.
Editorial Assessment
What We Checked
- • Pricing reviewed across 1 listed plan: Included with E*TRADE Account: Free.
- • Feature fit checked against 9 supported capability flags, including Paper Trading, Price Alerts, Mobile App, Broker Integration.
- • Best-use recommendation checked against the stated audience: options traders, E*TRADE customers, active traders.
- • Tradeoffs reviewed from the published cons list so the page does not rank tools only by headline rating.
Before You Pay
- • Use the free tier or trial to confirm the workflow before upgrading.
- • Check whether your broker is supported before assuming imports will work.
- • Do not choose this if API access is central to your workflow.
- • Test mobile usability if you review trades or alerts away from desk.
Our rating favors tools that solve a specific trading workflow reliably. Power E*TRADE is strongest for options traders, E*TRADE customers, and active traders. It is weaker if you need AI Analysis, Backtesting, API Access, Social Features.
Power E*TRADE Pricing
Included with E*TRADE Account
- ✓ Full Power E*TRADE access
- ✓ $0.65/contract options ($0.50 for active)
- ✓ Paper trading included
- ✓ No platform fees
- ✓ Morgan Stanley research
Features
Pros & Cons
Pros
- + Completely free with E*TRADE account — no platform fees
- + Strategy Optimizer suggests optimal options strategies
- + Paper trading for risk-free practice
- + Web-based — no software download required
- + Real-time Greeks and P&L analysis
Cons
- - Limited to E*TRADE brokerage — no multi-broker support
- - No automated trading capabilities
- - Charting is good but not best-in-class
- - No backtesting for options strategies
- - Mobile version has fewer features than web
Rating Breakdown
Overall Rating
Key Takeaways
- ✓ Completely free with E*TRADE account — no platform fees
- ✓ Strategy Optimizer suggests optimal options strategies
- ✓ Paper trading for risk-free practice
- ✓ Web-based — no software download required
- ✓ Real-time Greeks and P&L analysis
- ★ Rated 4.1/5 — best for options traders, E*TRADE customers, active traders
- $ Free tier available
Summary
E*TRADE's advanced options and active trading platform with live options chains, strategy optimizer, risk analysis, and paper trading — all included free. Power E*TRADE offers a free tier. Best suited for options traders, E*TRADE customers, and active traders.
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Power E*TRADE Rankings
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