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Morgan Stanley Smith Barney LLC / E*TRADE Futures LLC / Morgan Stanley Private Bank, National Association
U.S.-focused multi-asset investing, trading, retirement, managed portfolio, and banking platform operated by Morgan Stanley affiliates, with $0 online U.S.-listed stock, ETF, mutual fund and options commissions plus per-contract/per-bond/product fees.
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88
/100
Overall
Overall looks strong, with high-confidence evidence. Still verify country/entity terms.
Headline score from research fields, regulation evidence, and scoring payload.
U.S. self-directed stock/ETF investors · Options traders · Futures traders needing CME/ICE US/CFE access
Entity, country restrictions, and high-risk fee fields should be checked carefully.
Before you decide
Restricted Countries
Official promotional terms exclude non-U.S. residents and residents of any jurisdiction where an offer is not valid. Full account-opening country availability/restriction list was not located in public pages checked.
Commission
stock_commission: $0 for online U.S. exchange-listed stock trades; OTC stock trades $6.95 online or $4.95 for 30+ trades/quarter; broker-assisted trades add $25.; etf_commission: $0 online ETF trades.; options_commission: Options: $0 base commission, $0.65 per contract, reduced to $0.50 with 30+ trades per quarter; exercise/assignments $0; regulatory/exchange fees may apply.; futures_commission: Futures and options on futures: $1.50 per contract per side plus exchange, NFA and other fees.; mutual_fund_commission: $0 for no-load, no-transaction-fee funds; load funds per prospectus; E*TRADE states $0 for online U.S.-listed mutual fund trades in FAQs.; bond_commission: Bonds/CDs: $1 per bond for online secondary trades ($10 min/$250 max); U.S. Treasury auction and online Treasury secondary trades $0; broker-assisted online secondary pricing plus $20 commission.; crypto_commission: Cryptocurrency commission: 0.50% on notional trade value, charged by zerohash, of which E*TRADE receives a portion.
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Important disclosure
Availability, fees, investor protection, and regulation can vary by country and legal entity. Verify the broker and regulator details directly before opening an account.
88
/100
Overall score
Overall score looks strong, with high-confidence evidence. Still verify country/entity terms.
Trust looks strong, with high-confidence evidence. Still verify country/entity terms.
Withdrawal looks strong, with high-confidence evidence. Still verify country/entity terms.
Availability
Availability can vary by legal entity, account type, and local regulation. Treat this as a shortlist signal and verify details with the broker before opening an account.
Official promotional terms exclude non-U.S. residents and residents of any jurisdiction where an offer is not valid. Full account-opening country availability/restriction list was not located in public pages checked.
SourceEvidence
FINRA/SEC/SIPC for Morgan Stanley Smith Barney LLC; NFA/CFTC for futures; FDIC for Morgan Stanley Private Bank deposits; NYDFS for Zero Hash crypto-related services disclosed by E*TRADE.
SourceMorgan Stanley Smith Barney LLC: CRD# 149777; SEC# 801-70103 and 8-68191. E*TRADE Futures LLC: NFA ID 0401545 from NFA BASIC search result.
SourceSecurities and advisory services: Morgan Stanley Smith Barney LLC; commodity futures/options on futures: E*TRADE Futures LLC; banking: Morgan Stanley Private Bank, National Association; crypto commission charged by zerohash with Zero Hash NYDFS virtual currency business licenses noted on crypto page.
SourceNo negative balance protection found; official margin/futures disclosures state customers may lose more than deposited funds and be liable for deficits.
SourceSIPC: up to $500,000 including $250,000 cash; excess of SIPC policy: $1B aggregate firmwide, $1.9M per client uninvested cash; FDIC: brokerage sweep up to $500,000 individual/$1,000,000 joint and bank deposits at least $250,000 or $500,000 for Premium Savings where conditions are met.
SourceBrokerage accounts: no minimum funding requirements; Core Portfolios: $500 minimum; Premium Savings/Bank CD/Checking: $0 minimum opening deposit but must be funded within 90 days to remain open where disclosed.
SourceNot applicable as a primary pricing metric for this U.S. securities/futures/banking platform; E*TRADE discloses commissions, contract fees, bond markups/markdowns and margin rates rather than forex/CFD-style spreads.
Sourcestock_commission: $0 for online U.S. exchange-listed stock trades; OTC stock trades $6.95 online or $4.95 for 30+ trades/quarter; broker-assisted trades add $25.; etf_commission: $0 online ETF trades.; options_commission: Options: $0 base commission, $0.65 per contract, reduced to $0.50 with 30+ trades per quarter; exercise/assignments $0; regulatory/exchange fees may apply.; futures_commission: Futures and options on futures: $1.50 per contract per side plus exchange, NFA and other fees.; mutual_fund_commission: $0 for no-load, no-transaction-fee funds; load funds per prospectus; E*TRADE states $0 for online U.S.-listed mutual fund trades in FAQs.; bond_commission: Bonds/CDs: $1 per bond for online secondary trades ($10 min/$250 max); U.S. Treasury auction and online Treasury secondary trades $0; broker-assisted online secondary pricing plus $20 commission.; crypto_commission: Cryptocurrency commission: 0.50% on notional trade value, charged by zerohash, of which E*TRADE receives a portion.
Official promotional terms exclude non-U.S. residents and residents of any jurisdiction where an offer is not valid. Full account-opening country availability/restriction list was not located in public pages checked.
SourceE*TRADE offers stocks, ETFs, options, futures, mutual funds, bonds/CDs, IPOs, crypto-related securities/futures, cash savings and managed portfolios.
SourceE*TRADE Web/App for investors; Power E*TRADE Web/App/Pro for active and advanced traders.
SourceBrokerage, retirement, managed portfolios, small-business retirement, banking and crypto-related account/exposure categories are listed on the official accounts page.
SourceVS next
These brokers share similar type or asset-class signals. Open the VS page to compare regulation, cost, platforms, withdrawals, and caveats side by side.
Overall 91 · Trust 100
Product-dependent. For securities margin, official margin disclosure gives minimum Reg T margin account equity of $2,000 and portfolio margin eligibility at $100,000 equity plus Level 4 options approval, but no single maximum leverage ratio. For futures, overnight margin is 100% of exchange minimum requirements and intraday margin is 50% of initial requirements for all products except Bitcoin; eligible futures IRAs are 200% of initial requirements with $25k minimum equity.
SourceACH Transfer Money is free; incoming wire transfers listed as $0; incoming non-U.S. currency may incur conversion fees from Wells Fargo/MSPBNA note says MSPBNA does not charge fees on incoming USD wires.
SourceOutgoing wire transfers: $25; full outgoing account transfer: $75; check requests: $0; stop payment requests: $25.
SourceNo inactivity fee found in checked official Pricing and Rates account activity, special request and brokerage account pages.
SourceFunding methods include Transfer Money (ACH), wire, external asset/account transfer, mobile or mailed checks, direct deposit and internal transfers.
SourceWithdrawals/money movement supported via Transfer Money, wires, check requests, internal transfers and account transfers; exact outbound methods depend on account type and destination.
Source
Overall 91 · Trust 100
Overall 91 · Trust 100