Head-to-head comparison across ratings, fees, asset coverage, and platform breadth.
4.0 / 5
For active day traders and short sellers with $27K+ in capital who need multi-source HTB locates, true DMA without PFOF, and a human picking up the phone. Not a fit for buy-and-hold, beginners, or anyone who wants a polished mobile app.
4.4 / 5
Solid full-service broker for mainstream investors who value Power E*TRADE's active-trader tools, deep mutual-fund and bond shelves, and Morgan Stanley's wealth backbone. No fractional shares is the standout weakness.
Each broker scored 0–5 across the same 8 dimensions.
Green cells mark the winner on each metric. Tie rows are uncoloured.
| Metric | Cobra | E*TRADE | Winner |
|---|---|---|---|
| OverallEditorial score | 4.00 / 5 | 4.40 / 5 | E*TRADE |
| Sub-ratingsCommissions & fees | 4.50 | 4.00 | Cobra |
| Sub-ratingsPlatforms & tools | 4.50 | 4.50 | Tie |
| Sub-ratingsMobile app | 2.00 | 4.50 | E*TRADE |
| Sub-ratingsResearch | 2.50 | 4.50 | E*TRADE |
| Sub-ratingsEducation | 2.00 | 4.50 | E*TRADE |
| Sub-ratingsCustomer service | 4.50 | 4.70 | E*TRADE |
| Sub-ratingsRange of investments | 3.00 | 4.50 | E*TRADE |
| Sub-ratingsActive trading | 5.00 | 4.30 | Cobra |
| PricingLowest margin rate | 5.25% | 10.45% | Cobra |
| PricingDefault cash sweep yield | — | 3.60% | E*TRADE |
| PricingPFOF on equities | Does not accept | Accepts | Cobra |
| Asset class | Cobra | E*TRADE |
|---|---|---|
| OTC / Pink Sheets / OTCBB | Yes | |
| Options (multi-leg + spreads) | Yes | |
| Mutual funds | No | Yes |
| US Treasuries / bonds | No | |
| Futures | No | Yes |
| Crypto (direct) | No | Limited |
| International stocks / ADRs | No | |
| Pre-market trading | Yes | |
| After-hours trading | Yes | |
| 24-hour overnight equity trading | No | Limited |
| Hard-to-borrow short locates | Yes | |
| OTC / penny stocks | Limited | |
| Options (single & multi-leg) | Yes | |
| US Treasuries | Yes | |
| Corporate / muni bonds | Yes | |
| IPOs | Yes | |
| International stocks | Limited |