In 2016, low-cost broker E*Trade purchased Aperture New Holdings, the parent company of the trading platform, OptionsHouse. E*Trade operated OptionsHouse as a stand alone site until late 2017 when it reopened as Power E*Trade.Power E*Trade is E*Trade’s low cost platform for trading stocks, options, futures and more. The platform is designed for frequent traders, especially those specializing in technical analysis. What does this change mean for you? Let’s break down what the new Power E*Trade looks like. You can also see how they compare to our best online stock brokers here.
Power E*Trade is a mobile app and web-based platform that offers traders best in class information features. You can easily set up charts, tickers, watch lists, futures and options chains, income backtesting calculators and more.You can launch a Power E*Trade account by hitting the “Launch” button on the right hand side of any E*Trade account. However, to actually access an account, you have to make at least 30 trades per quarter or meet an account minimum of $250,000.
You can trade stocks, options, bonds, futures, mutual funds and ETFs from the Power E*Trade platform. You can also trade from the E*Trade app.
E*Trade has two different types of pricing. First, traders can choose whether to subscribe to certain Market Data information. Some of the subscriptions are free, while others cost up to $15.00 per month.
In addition to the subscription fee, traders will pay a fee for every trade they make.$4.95 for every stock and options fee plus a $0.55 fee for every options contract.$1.50 for every futures trade (for each side of the contract) plus other fees imposed by the National Futures Association.$4.95 for each ETF trade except for one of 250 commission fee ETFs.These prices are discounted from the $6.95 per trade plus $.75 per contract fees that standard E*Trade investors encounter.
With a huge number of education materials, calculators, and lots of free information Power E*Trade is a reasonable place to start a trading. However, the prices on E*Trade are not as inexpensive as other places, especially if you’re trading stocks rather than options. These are a few places where you can trade stocks for free. Also, before you start actively trading, be sure you understand the odd of beating the market are not good. While some traders outperform their indexes in the long run, successful trading takes discipline and insight along with the right tools.