E*TRADE from Morgan Stanley is one of the longest-running US online brokers, now provided by Morgan Stanley Smith Barney LLC, which is registered with the SEC and FINRA and is a SIPC member. It offers $0 commissions on online US-listed stocks, ETFs, no-transaction-fee mutual funds and options (plus a per-contract fee), with bonds through the brokerage and futures through E*TRADE Futures LLC, and the Power E*TRADE platform for active traders. It suits both options traders and long-term investors who want a large, established broker.
Risk warning: Trading carries a high risk of losing money, especially with leveraged products such as CFDs. A bonus does not reduce that risk. Only deposit what you can afford to lose.
E*TRADE
New E*TRADE clients who open one brokerage account with code OFFER26 by October 31, 2026 and deposit at least $1,000 of outside money within 60 days get a cash credit of $50, $150 at $5,000 or $300 at $20,000, rising to $10,000 at $5 million, then must keep the money there for 12 months.
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E*TRADE was founded in 1982, placed its first online trade in 1983 and went public in 1996. Morgan Stanley bought it in October 2020, and since February 2024 brokerage accounts are carried by Morgan Stanley Smith Barney LLC, registered with the SEC (8-68191) and FINRA (CRD 149777) and a SIPC member, which protects up to $500,000 per customer, including $250,000 in cash. Futures run through a separate firm, E*TRADE Futures LLC, an NFA member, and crypto trades through Zero Hash, outside SIPC and FDIC protection. Morgan Stanley's self-directed business reported 8.7 million households and $1.8 trillion in assets in mid-2026.
Recent actions against Morgan Stanley Smith Barney include a $35 million SEC fine in 2022 for failing to safeguard customer data and a $15 million SEC fine in December 2024 over advisers who misappropriated client funds.
Online US stock, ETF and options trades are $0, with $0.65 per options contract ($0.50 at 30 or more trades a quarter). No-transaction-fee mutual funds are free, bonds cost $1 each ($10 minimum) and crypto costs 0.50% of trade value. There is no minimum deposit, but a new account must be funded within 30 days or it is closed.
Leaving costs $75 for a full account transfer and $25 for an outgoing wire, and E*TRADE does not reimburse the transfer fee your old broker charges. With a 12-month hold on the bonus, those exit costs matter less than the time the money is tied up.
New clients who open one brokerage account with code OFFER26 by October 31, 2026 and deposit outside money within 60 days get a cash credit set by the amount: $50 for $1,000 to $4,999, $150 for $5,000, $300 for $20,000, $600 for $100,000 and $1,000 for $200,000, rising to $10,000 at $5 million. The offer page headline says up to $1,500, but the full table goes higher. E*TRADE pays within seven business days after the 60-day funding period.
The catch is the hold. The deposit, minus any trading losses, has to stay in the account for 12 months after the funding period, about 14 months from opening, or E*TRADE can take the credit back. That turns the small tiers into modest returns: $50 on $1,000 looks like 5%, but it is earned over more than a year, and $300 on $20,000 is 1.5%.
The standard table is for new clients opening a single account. Existing clients, or anyone opening more than one account, get different terms that cap the credit on the new account at $1,000. Retirement accounts use a separate code, RETIRE26. Each client can use at most three new-account offers, and E*TRADE can end the promotion at any time.
The offer is for US residents only. Retirement, business, advisory, futures and Morgan Stanley Private Bank accounts are excluded from OFFER26. The credit may be subject to tax withholding and reporting, and taxes are your responsibility.
OFFER26 for a new brokerage account opened by October 31, 2026 and funded with at least $1,000 of outside money within 60 days. Retirement accounts use a different code, RETIRE26.
$50 for $1,000 to $4,999, $150 for $5,000 to $19,999, $300 for $20,000 to $99,999, $600 for $100,000 to $199,999 and $1,000 for $200,000 to $499,999, rising to $10,000 at $5 million.
At least 12 months after the 60-day funding period, minus any trading losses, or the credit may be taken back. That is about 14 months from opening the account.
They can enroll by opening a new account, but different terms apply: the credit on the new account is capped at $1,000, and the standard table is for new clients opening one account.
Within seven business days after the 60-day funding period ends, into the new account where the deposit was made.