Power e*Trade Review

A good online Trading platform is just as important as the methodology you use to generate your trade.

Power e*Trade is to many stock and Options traders what a reliable Wi-Fi signal is to anybody wanting to use the Internet.

In this very important Tutorial, you will learn everything you need to know about Power e*Trade Trading Platform and how it can take your Trading (Account Balance) to the next Level.

Power E*Trade Review: How To Set It Up ?

Before we get into the Technical jargon, let’s address from the get go some of the basic questions you may have about e*Trade as a company and Power e*Trade (Formerly OptionHouse) as a Platform.

If you are wondering: Is eTrade a Good Company ?

Well the Answer depends on your intend.

Do you plan on applying for a Job over there or are you considering becoming one of their many clients.

When can easily answer the latter with an emphatic Yes Based on my experience as a client since early 2017.

Their customer service has proven to me over the years what I needed to keep them as my broker.

This does not mean that I have not encountered issue over the years with the platform.

Power e*Trade Positions Views
Power e*Trade Positions View with Training Videos Icon Highlighted in Orange

However, eTrade has always stepped up and offered a satisfactory resolution each time in timely manner.

Next, Power E*Trade is free of charge to All E*Trade customers.

There are Options (no Pun intended) for Paid Data Subscription but you do not have to Buy them.

Many Data feed are free and are enough for your Options Trading Account.

There are no monthly or annual fees or inactivity fees as one may encounter in other online brokers.

Power E*Trade Review: How To Trade Options on Power e*Trade

When you open an e*Trade Account, it comes with a Paper Trading Account as we explained in here.

This makes e*Trade a very friendly online Trading Platform for beginners.

We always recommend that beginners spend a few months (how many ? It depends on your learning curve) practicing on the Demo/Paper Account before going Live on Power e*Trade.

For our millennial traders out there always on the Go, Power e*Trade comes with a very intuitive App version that will be with you anywhere you want to be (Euh,..did I joust steal a Famous Slogan :-))

Here is a Video Tutorial on Power e*Trade on how to place Options Orders.

How I Use Power E*Trade Advanced Features

Power eTrade Scanners

The trading platform built in Scanners on Unusual activity, Volatility, Indicator, Oscillator that you can set up depending on your style of trading.

Power eTrade Scanners in Power eTrade Review Article
Live Action button inside Power e*Trade Leads to a Plethora of built -in Scanners on Unusual Options Activity, Volatility or Classic Technical Patterns.

The best way to showcase all the built-in scanners is through this short video below.

Power eTrade TradeLab Analysis

Wouldn’t you want to know how much money you are bound to make when the stock in your Option Strategy reach a certain price by a given date ?

Well, Power e*Trade TradeLAb can easily tell you that by just sliding your mouse vertically for the price of the stock and horizontally for the time in the future.

Before you take a trade, you can go to the TradeLab by selecting Build Strategy in the Picture above and a window Called Strategy Builder will Pop Up.

Then you can enter your Strategy ( it is possible to mix Stocks and Options). Just select Add Option or Add Stock.

After you save your strategy, a graphic window will come with your Risk Profile.

Power eTrade TradeLab for Strategies Simulation
Power e*Trade Features a TradeLab Analysis where traders Can Simulate their Strategies before Trading them.

The information is meant help you determine your potential gains and losses depending on the price evolution of the underlying stock in your strategy.

In the above picture, we simulated 10 Options Calls contracts expiring July 24 2020 for a cost of 32 cents per contract.

The TradeLAb simulator is showing on your profit curve that should AMD stock reach $57.84, that strategy stands to generate $487.22 of profit.

The Maximum Loss on the position is the amount of Money we would be spending to buy those 10 contracts.

The break even point is for expiration Day and that price is at $59.22.

Below is a short demo on how to setup a Strategy inside the TradeLab.

How to Get a Chart of an Option Contract Inside Power e*Trade

My favorite feature on Power e*Trade Trading Platform is by far the ability to track the price of the Options I am trading.

Why ?

From the entry to the trade, it enables you to see if you pay too much for that contract.

We mainly trade weekly Options through our Subscription Trade Alerts.

So during the week, it is very important to get a good entry price.

Once in a trade, the chart of the Options helps you determine support and resistance for that option.

Yeah, just like you would do on the chart of the stock.

We teach our traders how to set up the same technical indicators we have on the stocks charts on the option charts as well.

Here is a recent video we made specifically for this purpose.

Power e*Trade vs. Pro eTrade

Is Pro e*trade worth It ?

E*Trade offer and advanced trading Platform on top of Power e*Trade called Pro e*Trade.

Launching Pad inside eTrade for ETrade Pro vs Power e*Trade
ETRADE Launch Pad with Power E*Trade, Paper Account , Etrade Pro and Free Bloomberg Television !

This is their legacy platform before they bought Option House in 2017.

You will access and sign on to E*TRADE Pro by using User’s existing E*TRADE User ID and sign-on password.

The main features are not so different between the two so I am yet to utilize the Etrade Pro version.

I will be bringing you the nuances in the near future.

Power e*Trade vs. ThinkOrSwim

We have some of our Traders in our Discord Room who use ThinkOrSwim trading platforms for Option trading.

I have always known that this platform was not intuitive for its users.

Though powerful, a trading platform ought to make it easy for beginners (especially) to quickly familiarize themselves with the basic features.

Also, its users have complained of many issues that have prevented them from trading for a full trading session.

This type of feedback make it weary recommend it as strongly as I would for Power e*Trade.


This full review of Power e*Trade provided instructions on how to set up the Trading Platform.

It showcases its numerous features and we highlighted through videos Tutorials how we use Power e*Trade platform to get an edge in Option Trading.


Suggested Resources

#1 : The #1 Trading Tool You Don’t Want To Miss In 2020
#2: Check Out Our Subscription Trade Alerts
#3: What You Need To Get Your Options Trading Career Started

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TBP || Becoming A Successful Stocks and Options Trader


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“Risk Comes From Not Knowing What You Are Doing” – Warren Buffet

Power e*Trade


Data Accuracy


Ease of Use


Education Training







  • Charting Options Contract
  • TradeLab Simulation
  • Options Trading Education


  • Capacity Overload
  • Overwhelmed Customer Service

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