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Broker 2
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E*TRADE from Morgan Stanley

us.etrade.com

Stock BrokerETF BrokerBond
DEGIRO

degiro.com

ETF BrokerMulti Asset BrokerETF
Decision summary
Overall score
88
91
Trust score
93
100
Cost score
86
92
Platform score
89
92
Withdrawal score
89
89
Best for
U.S. self-directed stock/ETF investors · Options traders · Futures traders needing CME/ICE US/CFE access
European self-directed investors seeking low-cost access to stocks and ETFs · Investors who prefer web/mobile platforms and exchange-traded products
Watch out
Needs verification
Needs verification
Trust & regulation
Regulators
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.
Source
Primarily supervised by BaFin and Bundesbank in Germany; Dutch branch registered with DNB and supervised by AFM and DNB.
Source
License numbers
Morgan Stanley Smith Barney LLC: CRD# 149777; SEC# 801-70103 and 8-68191. E*TRADE Futures LLC: NFA ID 0401545 from NFA BASIC search result.
Source
Financial licence number not disclosed in reviewed official sources. Commercial registrations found: flatexDEGIRO Bank SE HRB 141330 on flatexDEGIRO Bank SE imprint; DEGIRO UK footer states HRB 105687; Dutch Branch KvK 82510245.
Source
Regulated entities
Securities 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.
Source
DEGIRO is operated by flatexDEGIRO Bank Dutch Branch, a branch of flatexDEGIRO Bank SE; flatexDEGIRO Bank SE is a licensed German bank headquartered in Frankfurt am Main.
Source
Negative balance protection
No negative balance protection found; official margin/futures disclosures state customers may lose more than deposited funds and be liable for deficits.
Source
No negative balance protection found. Official account-profile page warns losses can exceed deposit and result in a negative Balance for derivatives, margin and short-selling services; margin profiles are legacy-only.
Source
Investor compensation
SIPC: 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.
Source
Cash in flatexDEGIRO Bank SE Cash Account protected up to €100,000 per customer under German Deposit Guarantee Scheme; investor compensation covers up to 90% of non-returned assets, max €20,000 per customer; UK FSCS does not apply.
Source
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.
Source
Available via listed country selector in Europe/UK; US persons are not accepted; UK onboarding for new clients was temporarily unavailable on the reviewed UK page.
Source
Costs & account conditions
Minimum deposit
Brokerage 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.
Source
No fixed minimum deposit identified; DEGIRO homepage says users can add any amount of money to the account for free. Bank-account verification search result states minimum EUR 0.01 for linking a new bank account.
Source
Spread from
Not 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.
Source
Not a quoted-spread CFD/FX broker field. DEGIRO discloses that bid-ask spreads are implicit market costs and not direct broker costs.
Source
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.
Source
Examples from UK fee page: US stocks €1 + €1 handling; LSE £1.75 + £1 handling; selected ETFs €0 + €1 handling; global ETFs €2 + €1 handling; options €0.75 commission. Currency, connectivity, external product and spread costs may apply.
Source
Maximum leverage
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.
Source
DEGIRO currently does not allow new changes to margin-trading profiles; legacy Active/Trader/Day Trader accounts may have Debit Money / derivatives risk but maximum leverage was not disclosed in reviewed sources.
Source
Deposit fee
ACH 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.
Source
No deposit fee disclosed on UK fee page and homepage; deposits listed as FEE €0 / no deposit-withdrawal fees.
Source
Withdrawal fee
Outgoing wire transfers: $25; full outgoing account transfer: $75; check requests: $0; stop payment requests: $25.
Source
No withdrawal fee disclosed on UK fee page and homepage; withdrawals listed as FEE €0 / no deposit-withdrawal fees.
Source
Inactivity fee
No inactivity fee found in checked official Pricing and Rates account activity, special request and brokerage account pages.
Source
No inactivity fee; UK fee page lists inactivity fee as €0.
Source
Markets, platforms & payments
Tradable assets
E*TRADE offers stocks, ETFs, options, futures, mutual funds, bonds/CDs, IPOs, crypto-related securities/futures, cash savings and managed portfolios.
Source
Shares, ETFs, bonds and derivatives such as options and futures; DEGIRO product pages also describe investment funds availability.
Source
Trading platforms
E*TRADE Web/App for investors; Power E*TRADE Web/App/Pro for active and advanced traders.
Source
DEGIRO provides a web/desktop trading platform (Webtrader) and mobile apps for iOS and Android.
Source
Account types
Brokerage, retirement, managed portfolios, small-business retirement, banking and crypto-related account/exposure categories are listed on the official accounts page.
Source
DEGIRO account/profile types include Basic, Active, Trader, Day Trader and Custody. Active, Trader and Day Trader are legacy-only and new margin profiles are no longer available.
Source
Deposit methods
Funding methods include Transfer Money (ACH), wire, external asset/account transfer, mobile or mailed checks, direct deposit and internal transfers.
Source
Manual bank transfer from a verified linked/reference bank account; deposits must use the account base currency.
Source
Withdrawal methods
Withdrawals/money movement supported via Transfer Money, wires, check requests, internal transfers and account transfers; exact outbound methods depend on account type and destination.
Source
Withdrawals go back to the primary registered/linked bank account; only uninvested cash in the Cash Account can be withdrawn.
Source
Withdrawal processing time
ACH outbound to external account: contact receiving external institution; wire transfer: same business day if received before 6 p.m. ET; internal transfers generally immediate; full brokerage transfer electronically typically 10+ business days, paper/mail 3-6 weeks.
Source
Withdrawals may take up to 2-4 working days; transfers can take up to 2-3 working days to complete.
Source

BrokerVS provides broker comparison research only. Scores and evidence can vary by country, account type, and legal entity; users should verify source links before opening an account.