E*TRADE is one of the biggest online brokers by assets under management, with over $1T in AUM. It is a US giant, and an established corporation, so many Europeans have asked us the following question:
Is E*TRADE available in Europe in 2025?
Short answer is: No - E*TRADE from Morgan Stanley is still a U.S-only retail broker. You must be a U.S. citizen or legal resident with a Social Security Number or ITIN to apply online.
European investors can’t open new accounts, and legacy European branches that existed pre-2013 remain closed.
We have tried to open an E*TRADE account from Spain, using the E*TRADE website, as well as the the E*TRADE mobile app, and in both cases our application couldn't be processed, probably due to our IP address:
Why can’t Europeans open an E*TRADE account?
There are many explanations:
- Licensing & MiFID II. E*TRADE never obtained an EU “passport” under MiFID II, so it would need a full local subsidiary or tied agent in every member state to market to retail clients.
- PRIIPs/KID paperwork. Most U.S. ETFs don’t produce the Key Information Document that EU law demands. If E*TRADE served EU residents it would have to block thousands of instruments or create work-arounds.
- FATCA & CRS friction. Additional tax-reporting and due-diligence layers make low-margin international clients less attractive.
- Strategic focus. Since Morgan Stanley’s 2020 takeover, product launches - zero-fee index funds, a revamped Power E*TRADE platform, upcoming crypto trading - have all targeted its U.S. user base, with no mention of retail expansion abroad.
Best like-for-like alternatives you can open today
- Interactive Brokers (IBKR): The closest match to E*TRADE’s product depth: stocks, options, futures and bonds in 150+ markets from a single account, with commissions from $0 and FX spreads around 0.2%.
- eToro: A well-known social trading platform that lets you trade stocks, cryptocurrencies, and more with zero commission on stock trades. It’s available in many European countries and users can also see and copy the trades of other investors on eToro (social trading feature).
- XTB: 0% commissions on stocks and ETFs for monthly turnover up to €100,000 (above this amount, a 0.2% commission applies, min. €10)
- DEGIRO: EU-licensed, ultra-low equity fees, no custody charges; good for buy-and-hold ETFs but fees higher than some competitors.
- Saxo Bank: Multi-asset access plus strong research, though fee tiers rise quickly for active traders.
- Revolut: A digital banking app that also offers an investing feature. With Revolut, users in Europe can buy stocks (limited selection), cryptocurrencies, and commodities in the same app.
- Trading 212: A free stock trading app available in Europe (including the UK and EU countries). Trading 212 offers commission-free trading for stocks and ETFs and has a simple, intuitive interface like Robinhood or Webull. It’s a popular choice for European investors seeking a Robinhood-like experience.
All listed alternatives hold EU licences and allow access to U.S. stocks and ETFs.
Want to compare them side-by-side? Check our article comparing the best trading platforms in Europe.
Will E*TRADE ever return to Europe?
Morgan Stanley’s 2024–25 shareholder materials contain no MiFID passport filings or hiring plans for European retail desks. There is no indication that E*TRADE will ever return to Europe.
Can U.S. expats or dual-residents keep trading?
If you opened your E*TRADE account while living in the United States, you can keep it after moving to Europe. A few caveats:
- Update your address. E*TRADE will still let you log in and trade equities, but new margin loans or certain options levels may be switched off once your profile shows a non-U.S. residence.
- File Form W-9 every year. Forgetting to renew it triggers 24 % backup withholding on dividends and sales proceeds.
- SIPC coverage still applies. You remain protected for up to $500 k in securities ($250 k cash sub-limit) even while abroad.
- IRAs are safe. Traditional, Roth and Rollover IRAs can stay on the platform; just keep a U.S. bank on file for distributions.
Employee Stock-Plan accounts
E*TRADE is the designated stock-plan administrator for companies like Microsoft, Starbucks and Morgan Stanley. If your employer grants shares through E*TRADE, you will keep that limited account even as a non-U.S. resident. The interface looks identical, but you cannot upgrade it to full self-directed trading unless you meet U.S. residency/SSN rules. After you sell, you may transfer cash or shares to an EU broker of your choice.
Conclusion
Unlike other competitors - Robinhood, Webull - which are slowly expanding to Europe, E*TRADE remains a U.S-only retail broker. Every European country — from Germany to Portugal, hits the same hard stop: “non-U.S. residents not eligible.”
For everyone else, pick an EU-licensed substitute that suits your style: we have listed several strong contenders, such as IBKR, DEGIRO, eToro, and Trading 212.
Hope this helped and feel free to let us know in case you have had a different experience with E*TRADE from Europe!
Country-by-country FAQ
Is E*TRADE available in Germany? 🇩🇪 No - US-resident accounts only.
Is E*TRADE available in France? 🇫🇷 No - SSN requirement blocks French residents.
Is E*TRADE available in Italy? 🇮🇹 No - SSN requirement blocks Italian residents.
Is E*TRADE available in Spain? 🇪🇸 No - SSN requirement blocks Spanish residents.
Is E*TRADE available in the Netherlands? 🇳🇱 No - US SSN needed.
Is E*TRADE available in Ireland? 🇮🇪 No - Not accepting Irish clients.
Is E*TRADE available in Belgium? 🇧🇪 No - US SSN needed.
Is E*TRADE available in the United Kingdom? 🇬🇧 No - Not accepting UK clients.
