E*TRADE announces commission-free trading on mutual funds

Rick Steves

“With E*TRADE now part of the Morgan Stanley Wealth Management ecosystem, the sum is truly greater than the parts, wherein we can deliver best-of-breed solutions that meet the needs of the E*TRADE client base.”

E*TRADE has eliminated all trade commissions and early redemption fees for mutual fund online trades on its platform on a move that will see mutual funds now part of E*TRADE’s $0 online commission offering along with US-listed stocks, ETFs, and options trades.

The brokerage subsidiary of Morgan Stanley has recently made a few updades, including access to Morgan Stanley global research (such as quarterly mutual fund commentary for all clients at no cost), greater access to initial public offerings, and improvements to E*TRADE’s robo advice offering Core Portfolios.

All these enhancements were made on the back of E*TRADE’s integration into the Morgan Stanley Wealth Management ecosystem.

6,500 commission-free mutual funds on E*TRADE

E*TRADE from Morgan Stanley offers over 6,500 commission-free mutual funds. Clients can use the Fund Screener to find funds that match their goals and investment strategies.

Chad Turner, Head of Morgan Stanley Wealth Management’s Digital Direct Channel, said: “The ability to add mutual funds to the list of E*TRADE’s no commission offerings is another proof point that joining Morgan Stanley has provided substantial benefits to clients as we aim to offer the best investing experience possible. E*TRADE has a long history of being an innovator in the industry and we are proud to be able to advance this narrative even further as part of Morgan Stanley.”

Ben Huneke, Head of Investment Solutions for Morgan Stanley Wealth Management, said: “We continuously look to develop innovative investment solutions that further raise the bar for ourselves and the industry at large. With E*TRADE now part of the Morgan Stanley Wealth Management ecosystem, the sum is truly greater than the parts, wherein we can deliver best-of-breed solutions that meet the needs of the E*TRADE client base.”

E*TRADE charges $0 commission for online US-listed stock, mutual fund, ETF, and options trades

Underlying mutual fund fees and expenses apply as described in each fund prospectus. E*TRADE receives revenue sharing and administrative service fees from most funds and/or their affiliates. Investors are subject to other fees charged by E*TRADE.

E*TRADE charges $0 commission for online US-listed stock, mutual fund, ETF, and options trades. The standard options contract fee is $0.65 per contract (or $0.50 per contract for customers who execute at least 30 stock, ETF, and options trades per quarter). The retail online $0 commission does not apply to Over-the-Counter (OTC), foreign stock transactions, large block transactions requiring special handling, futures or fixed income investments.

Underlying mutual fund/ETF expenses apply. Service charges apply for trades placed through a broker ($25). Stock plan account transactions are subject to a separate commission schedule. Additional regulatory and exchange fees may apply. All fees and expenses as described in the prospectus still apply. For more information about pricing, visit etrade.com/pricing.

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