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POWER ETRADE Pricing, Download, and Requirements Review

2022 POWER ETRADE cost, platform trading requirements, pricing, charts, features review, pros and cons. Is POWER ETRADE free?

Overview of POWER ETRADE Platform

When E*Trade acquired OptionsHouse in 2016, the derivative broker’s software was part of the deal. So E*Trade customers now are able to use this browser-based platform which is now called "Power Etrade". Let’s check it out.

Is Power Etrade Free?

Power Etrade is free of charge for all E*Trade customers.

Power Etrade Requirements

Although E*Trade has established account minimums for its desktop platform, the brokerage firm does not impose any requirements to use Power Etrade. To access this free software program, you simply need to login to your E*Trade investment account and click on the “Launch” button next to the Power Etrade icon. The platform will launch into its own window.

Initial Impression

After launching the platform from our test account, we immediately saw how simple and uncluttered the platform is. This could be a strength or weakness, depending on how many tools you need and what level of sophistication you’re looking for.

Power Etrade Trading Review

A gear icon in the upper-right corner provides a lot of customization options to get started. The background color of the platform can be changed from dark (the default setting) to white or gray. Trade ticket defaults can be adjusted as well, along with order confirmations, hot keys, and several other features. Ctrl +/- quickly changes the font size.

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Top Menu

Once you have the platform setup to your liking, it’s time to start trading. There are three tabs at the top of the platform: Trading, Markets, and Account. The Trading tab offers Quote, Chart, Options, and TradeLab underneath. The Quote section is where you can enter a ticker symbol and get up-to-date security information. This is the default display when the platform is launched.

The Markets tab shows LiveAction, Watch List, Market View, News, and Calendar. The Account tab offers Orders, Positions, Risk Side, Summary, Performance, History, and Messages. Finally, a trade button sits in the top menu. Clicking on any of these choices will produce new windows in the middle of the screen. The left and right sides are columns of information that provide helpful account information and market news.

Power Etrade Platform Review

For example, there is position information, current orders, messages, a watch list, and market news. In this news section, there is a Bloomberg Television icon. Clicking on it produces a pop-up window where the financial news streams free of charge.

Power Etrade Platform Level II Quotes

Level II data sits in its own box at the bottom of the platform on the Trading:Quote screen. Unfortunately, there is no way to detach the Level II window and move it around.

E*Trade provides bid and ask prices along with sizes and the venues where the orders are coming in. There is no time information, however, and prices are not color-coded.


Also under the Trading tab sits TradeLab. This is a tool that produces a profit & loss diagram from a proposed trade. Multiple legs can be entered. We found TradeLab easy to use and very helpful in making trade decisions. TradeLab shows the maximum profit and risk from a proposed trade along with breakeven points.

Power Etrade Platform Charting

The software’s charting program sits under the Trading tab as well. A graph can be shown full screen. There are multiple graph styles available, including candlestick, baseline delta, wave, scatterplot, and mountain. Company events can be shown. These are occurrences such as stock splits, earnings announcements, and dividends.

We found around 120 technical studies, a pretty good number. Some examples include donchian width, choppiness index, and ease of movement. If a study appears below a graph, it can be removed by clicking on an x in the indicator’s menu. If the study is on top of a graph, it can be deleted by clicking on the study itself.

Power Etrade Charts Review

Comparisons can be made to a stock or index. An information box can be displayed by hovering over a chart. The data includes technical indicator information at the point where the cursor is at, plus price data for any comparison if one has been added.

There are many drawing tools in the charting program. These include ellipses, pitchforks, crosslines, Fibonacci gizmos, and rectangles. These can be customized by color and even line type (dash, solid, etc.).

The one feature missing on a full screen chart is right-click trading (there also is no trade bar). In order to place a trade, you have to go back to the platform.

Trade Ticket

When you’re back on the platform, just click on the “Trade” button in the upper-right portion of the screen. This will produce a window with several fields. Duration options include extended hours, FOK, on the open/close, and good until a specified date.

Many order types are available, such as stop on quote, trailing, and 3 leg bracket stop. One order can include multiple legs, including both stock and option orders. Futures can also be traded with the order ticket. One feature missing is direct-access routing.

Power Etrade Platform Review


The day’s market movers can be found in the LiveAction section. The tool displays unusual activity in the securities markets, for both stocks and options. For example, it’s possible to find equities with the highest percent gain in implied volatility in the past week.

For stocks, there are screens that can find investments with the biggest price gains in percentage terms, the biggest price losers in dollar terms, and stocks priced above $4 with the highest percentage price changes during extended hours trading.


A tool we found really helpful for active stock and option traders is the economic calendar found under the Markets tab. It shows companies that have imminent earnings announcements. The calendar can be displayed in a daily, weekly, or monthly format. Stocks are color-coded for after-market and before-market releases. Also displayed is whether the date is confirmed or estimated.


Some brokers (like WellsTrade and Robinhood) have no browser platform at all. On the other hand, other brokers (like Tastyworks and TD Ameritrade) offer browser trading software without any account requirements.

For active traders, a better alternative platform to Power E*Trade is Webull. It has a number of advantages over Power 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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Power Etrade Review Summary

The Power Etrade platform has a lot of useful features that will benefit stock, futures, and options traders.

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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.