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ETrade vs. MT4 – A Detailed Comparison

Discover our detailed comparison of ETrade and MT4 to help determine which is best for you. Whether you’re a seasoned trader or just starting out, choosing the right platform can significantly impact your trading experience. 

To make your research easier, we manually found key data for ETrade and MT4 across the internet and compiled it all in this article. 

Overview of ETrade

Founded in 1982, ETRADE was one of the first companies to offer electronic trading to individual investors, making it easier for the general public to participate in the stock market without the need for traditional face-to-face transactions with brokers. ETrade offers competitive pricing for derivative trading and offers a trading platform for charting and analysis.

Overview of MT4

Meta Trader 4 (MT4) is a charting platform that is mostly used by Forex traders. You can also chart stocks and other assets depending on which broker you connect.

Key Characteristics of ETrade and MT4

FeatureETradeMT4
Platform TypeBrokerage PlatformCharting and Trading Software
Tradeable AssetsStocks, ETFs, Mutual Funds, Options, Futures, Futures Options, Crypto, BondsNot a broker
Charting FeaturesPower ETrade PlatformFree charting platform
DataReal-time data with funded accountDepends on broker
Premium PricingNo premium featuresFree, just connect a broker

Who is ETrade Best For?

ETrade is best for long-term investors and active traders alike, but it is just okay compared to other platforms. If you are a long-term investor, ETrade is great, but it doesn’t offer as much flexibility with fractional shares. It is also not the broker of choice for active traders, since much better platforms like tastytrade and thinkorswim are available.

Who is MT4 Best For?

MT4 is best for those who already have a broker tha is compatible with it. Otherwise, there are much better charting platforms like TradingView or TrendSpider.

Trading Features and Tools

FeatureETradeMT4
DRIPYes, no fees in most casesNot a broker
Margin TradingYesNot a broker
InsuranceSIPC/FDIC InsuredNot a broker
Mobile AppYesYes

Trading Costs and Commissions Compared

Fee TypeETradeMT4
Equity CommissionFreeNot a broker
Option Commission$0.65 per contractNot a broker
Futures Commission$1.50 per contractNot a broker
Futures Options CommissionMust call to activate futures optionsNot a broker
Option Exercise FeeNoneNot a broker

ETrade vs MT4 – Bottom Line

Choosing between ETrade and MT4 depends on your specific trading needs, preferred trading tools, and the type of assets you’re interested in. 

Both platforms offer distinct advantages, but by considering the detailed comparison above, you can select the one that aligns best with your trading strategy and goals.

For more detailed reviews and comparisons, continue exploring our other articles on brokerage platform comparisons.

What is the Overall Best Charting Software?

I have reviewed and used nearly every trading platform available, and I believe that TradingView is the best overall charting software available. Here are some reasons why:

  • All of TradingView’s key features are free to use
  • TradingView provides real-time data for free whenever possible
  • You are not tied to a single broker and can use whichever you want while charting on TradingView
  • You can track all markets on a single platform, including stocks, ETFs, crypto, forex, and futures.
  • TradingView has an excellent economic calendar and various screeners

If you sign up for a TradingView account using my affiliate link, you can get a 30-day free trial of its premium features plus a $15 credit toward your subscription. However, signing up for a free trial is not required, and you can use nearly all of its features with a basic free account. You can read my full review of TradingView to learn more. 

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