E*TRADE PRO Download and Cost (2024) (2024)

E*TRADE PRO platform requirements, trading, subscription pricing, charts, features review, pros and cons. What is E*TRADE PRO? Is E*TRADE PRO free?

E*Trade Pro Review

E*Trade is known for its browser-based platform, Power E*Trade, but the firm also offers a desktop software called E*Trade Pro. However, it’s a bit harder to access. Keep reading to learn how to get it.

How to Download E*TRADE Pro

One of the first things you’ll notice when you want to download E*TRADE Pro is that the download link isn’t visible on the broker’s site.

While this might confuse traders, the solution is simple.

E*TRADE reserves the platform for its more serious investors, so there are some minimum requirements. If you and your trading account meet these, you can request the download link from support.

Once confirmed, the broker will send you a download link via email, add it to your account page, or both.

E*TRADE Pro Requirements

The requirements to access E*TRADE Pro are straightforward. However, the steps to qualify aren’t easily found on the account page, so here they are:

Investors who complete 30 or more trades per quarter are eligible to receive the download link.

But there’s a catch: to trade using the platform, you need live market data. To get that, you must maintain an account minimum of at least $1,000.

So, to use E*TRADE Pro, make sure you meet both requirements.

E*TRADE Pro Cost

Is E*TRADE Pro free? Yes, once you meet the access requirements, E*TRADE Pro is free.

E*TRADE Pro Market Data Subscription

You’ll likely need to subscribe to real-time streaming quotes. The data is free for non-professionals. Just go to the market data subscription page (login required) on the broker’s website and make your selection.

While NYSE-ARCA data is free, quotes for Nasdaq Total View and NYSE Open Book are not. You don’t need to subscribe to these to access Pro, but not subscribing will limit the amount of Level II data on the platform.

Layout

E*Trade Pro comes with three color themes: dark, light, and market trader. You can change these by clicking on ‘Themes’ under ‘Settings’ in the upper-left menu. By default, the platform uses the dark theme. The windows on the platform can be moved, removed, or new ones added. You can save your layout by clicking ‘Layout’ in the top menu and selecting ‘Save Layout.’

In the Layout menu, there are many predefined layouts, such as multiple charts and futures trading. We found it easy to switch between layouts during our testing.

Tools Menu

Below the layout and settings menus is the ‘Tools’ menu. Clicking on it shows a drop-down window with several functions, each with an icon next to it.

Some options include Bloomberg TV (streaming for free), the day’s market movers, a watch list, an economic calendar, a time & sales window, market depth (Level II quotes), charting, a money transfer tool, option chains, options tools, futures chains, a margin tool, and more.

Bottom Menu

At the bottom of the Pro platform is another menu with a row of screen options. These allow you to quickly switch between different layouts. For example, you can create one layout for Bloomberg and charting, and another for news and the platform’s economic calendar.

Charting

By default, E*Trade Pro displays a small window with a chart. You can enlarge this window, delete it, or expand it to fill the entire monitor. Expanding it to full-screen provides a better view.

With the chart in full-screen mode, there are many useful tools available. These include around 120 technical studies and 30 drawing tools. Price history can be displayed in any of six chart styles, such as Heikin Ashi, colored bar, and mountain. You can also view company events like dividends, splits, and earnings, and compare the stock or fund with others.

Trading Options

By default, Pro offers an options trading layout. Selecting this layout (from either the bottom or top menu) opens a new environment with helpful tools for trading derivatives. These include option chains, which provide Greek values and multi-leg strategies like butterflies, calendar spreads, and condors.

In the ‘Tools’ menu at the top of the platform, you’ll find a useful feature called ‘Options Tools.’ This tool contains Pro’s profit-loss diagrams, which we highly recommend. Clicking on the ‘Options Analyzer’ tab within the Options Tools window opens the P&L diagram. You can select different strategies, such as short iron butterfly, long put, or short call, and E*Trade Pro will generate a profit-loss diagram based on that hypothetical trade.

How To Submit Orders on E*Trade Pro

Pro has two order tickets. Both can be found under the ‘Tools’ menu. The first is called ‘Order Entry,’ while the second is within the ‘Option Chains’ window. The second is designed specifically for trading options and is integrated within the chains window. The first ticket also has an options tab where you can trade derivatives.

Stock and ETF orders on the Order Entry tool come with several order types, including trailing, hidden stop, and market-on-close. More advanced order types include one-triggers-all, contingent, bracketed, and one-triggers-OCO. Direct-access routing is available, with options like Nasdaq, ARCA, and NYSE, though the default is AUTO.

For option orders, you can build your own strategy or use E*Trade’s predefined choices. Calls and puts offer direct-access routing, but this option isn’t available for multi-leg plays.

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E*Trade PRO Review Judgment

E*Trade has done a great job with Pro. Oddly, the online broker doesn’t promote the software as much as the Power E*Trade platform, which seems like a missed opportunity.

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Updated on 8/14/2024.