E-trade and Morgan stanley

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tc101
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E-trade and Morgan stanley

Post by tc101 »

A friend with an e-trade account asked me for advice. He said etrade was bought by morgan stanley and morgan stanley said they had no money market funds. Is this true. How about commission free trades of etfs.
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indexfundfan
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Re: E-trade and Morgan stanley

Post by indexfundfan »

You can buy lots of commission-free mutual funds on Etrade, including Vanguard's money market funds like VMFXX and VUSXX.
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sycamore
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Re: E-trade and Morgan stanley

Post by sycamore »

tc101 wrote: Tue Feb 04, 2025 4:16 pm A friend with an e-trade account asked me for advice. He said etrade was bought by morgan stanley and morgan stanley said they had no money market funds. Is this true. How about commission free trades of etfs.
Your friend is mistaken. You can trade Vanguard money market funds at ETrade for no commission or fee.

And Morgan Stanley has MMFs has as well. However, the "INSTL" funds are institutional funds and may have high minimum investment? Best to double check.

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HeelaMonster
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Re: E-trade and Morgan stanley

Post by HeelaMonster »

indexfundfan wrote: Tue Feb 04, 2025 4:38 pm You can buy lots of commission-free mutual funds on Etrade, including Vanguard's money market funds like VMFXX and VUSXX.
Correct. I hold nothing but Vanguard funds in my account(s) at E*Trade.

Unfortunately, it's not set up to use VMFXX as a settlement fund, like it is at VG. So in order to get $$ out of VMFXX, you first have to sell, wait for that transaction to clear, and then transfer the proceeds back to your bank, for example. Requiring two steps (and two visits to the website) rather than one, but not a huge deal.
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beyou
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Re: E-trade and Morgan stanley

Post by beyou »

In this regard Etrade is one of the only brokers outside Vanguard where you can buy Vanguard mmkt funds free of fees.
Not automatic but no cost.

There are lots of ETF alternatives for cash that are as good as Vanguard mmkt funds for cash.
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