E*TRADE from Morgan Stanley Review (October 2026): Fees, US States and Licenses

Our verdict

E*TRADE from Morgan Stanley completed its rollout of spot crypto trading on July 16, 2026. Clients can trade Bitcoin, Ethereum and Solana around the clock for a 0.50% commission with no added spread, using a separate Zero Hash account linked to their brokerage account. Zero Hash holds the assets, which are not SIPC or FDIC protected. Crypto transfers in or out are not yet available.

E*TRADE from Morgan Stanley fees

Maker / taker

— Not verified

Simple buy

0.50% commission on the notional trade value; E*TRADE states there is no additional spread fee and no markup

Volume tiers

The commission is charged by Zero Hash, and E*TRADE receives a portion.

ACH deposit

— Not verified

Wire deposit

— Not verified

Card purchase

— Not verified

USD withdrawal

— Not verified

Crypto withdrawal

Not available yet (crypto transfers are listed as coming soon)

Minimum deposit

— Not verified

Is E*TRADE from Morgan Stanley available in my state?

E*TRADE completed its rollout of spot Bitcoin, Ethereum and Solana trading on July 16, 2026 (pilot from May 2026), charging 0.50% per trade through Zero Hash.

The list of states this platform serves is not verified yet.

E*TRADE says any US-based client can open the linked zerohash crypto account; no list of excluded states appears on the pages checked.

New York

Yes

ID check (KYC)

Yes

Withdraw crypto

No

Funding

E*TRADE brokerage account (shared buying power)

Is E*TRADE from Morgan Stanley regulated?

• FinCEN MSB
• NMLS 1699379
• BitLicense
• CFTC
• SEC / FINRA
• Bank charter
• NYSE: MS (parent Morgan Stanley)

US operator

Morgan Stanley Smith Barney LLC (brokerage); crypto accounts, trading and custody at Zero Hash LLC

Parent company

Morgan Stanley (NYSE: MS)

State licenses

Zero Hash LLC lists money transmitter licenses in all 50 states, DC and Puerto Rico. Morgan Stanley Smith Barney LLC does not transact in or custody digital assets.

New York license

BitLicense

CFTC / NFA

E*TRADE Futures LLC (futures and futures options)

SEC / FINRA

Morgan Stanley Smith Barney LLC - broker-dealer (securities)

Bank charter

Morgan Stanley Private Bank, N.A. (banking). Morgan Stanley Digital Trust, N.A., in organization, is expected to take over digital asset services.

Other

The FinCEN MSB registration, NMLS ID 1699379 and New York virtual currency licenses belong to Zero Hash, not to Morgan Stanley.

Founded

1982

Headquarters

Arlington, VA, USA

How secure is E*TRADE from Morgan Stanley?

Proof of reserves

— Not verified

Audits

— Not verified

Insurance

Digital assets held through zerohash are not FDIC insured or SIPC protected.

Incidents since 2019

• 2022enforcementFINRA censured E*TRADE Securities and fined it $350,000 in January 2022 for failing to adequately monitor for potentially manipulative trading, per Wikipedia.
• 2022settlementParent Morgan Stanley paid $125 million in September 2022 to settle SEC and CFTC charges in an industry-wide enforcement action, per Wikipedia.

Crypto held on a platform is not covered by FDIC or SIPC insurance.

What you can do on E*TRADE from Morgan Stanley

• Spot
• Futures
• Stocks & ETFs

Crypto trades 24/7 in a separate zerohash account linked to an individual E*TRADE brokerage account, with shared buying power. Crypto transfers in and out are not yet live. The futures flag refers to E*TRADE Futures LLC, not to crypto-specific contracts.

Apps

Web, iOS, Android

Support

— Not verified