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E*Trade PRO Platform Review, Cost, and Platform Requirements (2022)

E*Trade PRO platform requirements, trading, subscription pricing, charts, features review, pros and cons. How much does it cost? Is E*Trade PRO free?

E*Trade Pro Review

Although E*Trade is better known for its browser platform Power E*Trade, the broker’s customers can nevertheless use E*Trade Pro, the company’s desktop software. It’s a little harder to acquire, though. Keep reading. We’re going to show you how to get it.

Downloading the E*Trade Pro Platform

E*Trade requires a $1,000 account balance and a subscription to real-time quotes to use its desktop software. In order to subscribe to real-time data, you first have to have $1,000 in your account. So the first thing you need to do is deposit a grand in your account.

E*Trade Pro Market Data Subscription

Once you have done this, next you need to subscribe to real-time quotes. The data is free for non-professionals. Just head over to the market data subscription page (have to login to access link) on E*Trade’s website and make your selection.

Etrade Pro Market Data

You’ll notice that 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 latter two services to gain access to Pro; but not subscribing will limit the amount of Level II data on the platform.

After you have subscribed to real-time quotes, contact customer service and request that the broker add Pro to your account. When they have done this, you’ll see a link to the platform underneath the link for Power E*Trade.

Launching Etrade Pro


E*Trade Pro comes in three themes: dark, light, and market trader. These can be adjusted by clicking on ‘Themes’ under ‘Settings’ in the upper-left menu. By default, the software uses dark; it will also present a few windows with various functions. These can be moved around, deleted, and new ones added. Then a layout can be saved by clicking ‘Layout’ in the same top menu and choosing ‘Save Layout.’

Etrade Pro Layout

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

Tools Menu

Underneath the layout and settings menus is the ‘Tools’ menu. Clicking on this produces a drop-down window with several functions with icons next to them. Having the icons next to the selections makes navigating the menu quick and easy.

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


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Bottom Menu

At the bottom of the platform is another menu with a row of screen choices. These allow the user to quickly shuffle between different layouts. During our trial of Pro, we were able to rapidly change layouts using these buttons. For example, we were able to build one layout for Bloomberg and charting, and another for news and the platform’s economic calendar.


By default, a small window with a chart is displayed on Pro. This window can be deleted, enlarged, or expanded to fill the computer monitor. Expanding it full-screen allows for better viewing.

Etrade Pro Charting Review

With the window in full-screen mode, we found many helpful tools. There are roughly 120 technical studies and 30 drawing tools. Price history can be shown in any of 6 chart styles, including Heikin Ashi, colored bar, and mountain. There are 3 company events (dividends, splits, and earnings), and comparisons can be made to any stock or fund.

Trading Options

By default, Pro offers an options trading layout. Clicking on this layout (in either the bottom or top menu) produces a new environment with some helpful derivative trading tools. These include option chains, which deliver Greek values and multi-leg strategies. Some of the highlights include condors, butterflies, and calendar spreads.

In the ‘Tools’ menu at the top of the platform there is a very useful gizmo aptly named ‘Options Tools.’ We highly recommend it as the tool contains Pro’s profit-loss diagrams. On the Options Tools window, clicking on the ‘Options Analyzer’ tab produces the P&L diagram. The software presents different strategies, such as short call, long put, or short iron butterfly. After choosing one, Pro will generate a profit-loss diagram based on the hypothetical trade.

How To Submit Order on E*Trade Pro

Pro has two order tickets. Both of them can be found under the ‘Tools’ menu. The first is entitled ‘Order Entry’ (easy enough), while the second is under ‘Option Chains.’ The second is designed for trading options and is integrated within the chains window. The first has an options tab on it, where options can also be traded.

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 possible. The default choice is AUTO. Other choices include Nasdaq, ARCA, and NYSE.

For option orders, it’s possible to build your own strategy or use E*Trade’s pre-defined choices. Calls and puts come with direct-access routing, but not multi-leg plays.

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Alternative Brokers For Traders

For active traders, a better alternative platform to E*Trade Pro is Webull. It has a number of advantages over E*Trade: $0 commissions on options, lower margin rates, virtual trading, crypto-currencies, easier-to-use interface, and no account requirements. Continue to Webull Brokerage Review.

If you would like to have the most advanced trading platform on the market for free, then give TD Ameritrade's thinkorswim a try. Continue to thinkorswim Review.

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E*Trade PRO Review Judgment

E*Trade has done an excellent job with Pro. For some odd reason, the broker-dealer doesn’t advertise the software nearly as much as Power, which seems like a terrible idea to us. E*Trade Pro has many more advanced features than Power, and we consider Pro mandatory for any serious trader.

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About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for, Chad can usually be found managing his portfolio or building a new home computer.