Compare E*TRADE and WellsTrade on fees, DRIP, fractional shares and research for dividend investing.
Updated August 3, 2026
E*TRADE from Morgan Stanley and WellsTrade both charge $0 commissions and offer free per-security dividend reinvestment with fractional shares, but the similarities end there. E*TRADE (4.6/5) is a research powerhouse with free Morgan Stanley, Morningstar, and MarketEdge reports, five trading platforms, and 5,000+ no-transaction-fee mutual funds. WellsTrade (3.8/5) is Wells Fargo’s basic brokerage, built for customers who want banking and investing in one login.
For dividend investors, both cover the essentials — free DRIP with fractional reinvestment you can enable per security. WellsTrade’s Stock Fractions program is the more established fractional option, letting you buy partial shares from $10, while E*TRADE only began rolling out direct fractional purchases in Q2 2026 and doesn’t support dollar-based orders yet. Everywhere else, E*TRADE is ahead.
Morgan Stanley's full-service brokerage pairs $0 commissions and free dividend reinvestment with institutional-grade research—and in 2026 it finally added direct fractional shares and crypto trading.
WellsTrade is Wells Fargo's self-directed brokerage (not the advisor-led Wells Fargo Advisors) for existing customers who want banking and investing under one roof—basic but functional.
| Feature | E*TRADE | WellsTrade |
|---|---|---|
| Our Rating | 4.6/5 | 3.8/5 |
| Trading Commissions | $0 | $0 |
| Account Minimum | $0 | $0 |
| Fractional Shares | Yes (phased rollout) | Yes (min $10) |
| DRIP | Free | Free |
| Research Tools | Excellent | Basic |
| Best For | Research-Driven Dividend Investors | Wells Fargo Banking Customers |
Want the full breakdown of fees, DRIP, and research tools? Read our E*TRADE review and WellsTrade review.
E*TRADE for most dividend investors — the dividend screeners, free institutional research, and huge no-fee fund lineup support serious portfolio building, and its new direct fractional-share purchases are closing the one gap WellsTrade could point to. Choose WellsTrade only if you bank with Wells Fargo and value one-login convenience above tools; its platform covers the buy-and-hold basics but little more. E*TRADE rates 4.6/5 in our reviews against WellsTrade’s 3.8/5.
E*TRADE. Both offer $0 commissions and free per-security DRIP with fractional reinvestment, but E*TRADE adds a screener that filters by dividend yield, payout ratio, and dividend growth, plus free Morgan Stanley and Morningstar research. WellsTrade’s tools are thin — its case is Wells Fargo integration, not capability.
Yes, differently. WellsTrade’s Stock Fractions program lets you buy partial shares of hundreds of stocks and ETFs with as little as $10. E*TRADE began direct fractional purchases in Q2 2026, starting with S&P 100 stocks — but orders are share-quantity only, with no dollar-based buys yet. Both reinvest dividends into fractional shares for free.
Stock and ETF trades are $0 online at both, and options cost $0.65 per contract at both. WellsTrade charges $25 for phone trades, $35 for transaction-fee mutual funds, and 8.5–12.5% margin rates, with a $49.95 transfer-out fee. E*TRADE charges $25 for broker-assisted trades, $9.95 for transaction-fee funds, and $75 for transfers out — but offers 5,000+ mutual funds with no transaction fee at all.
Wells Fargo integration. If your banking already lives at Wells Fargo, WellsTrade puts your investments in the same app and login, and US Treasury trades are fee-free. On feature comparisons — research, trading platforms, fund selection — E*TRADE wins.
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Investing involves risk, including possible loss of principal. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice.