Compare
E*Trade vs J.P. Morgan Self-Directed
The same facts side by side. Swap a broker from the menu under its logo; the best value in each row is marked.
- E*Trade leads
- 7
- J.P. Morgan Self-Directed leads
- 0
- Level
- 2
Of 9 scored facts, E*Trade leads on 7, J.P. Morgan Self-Directed on 0, and 2 are level. Countries and the offer are not scored.
Head-to-head
The best value in each row is marked; rows where every broker matches carry no mark.| Fact |  E*Trade |  J.P. Morgan Self-Directed |
|---|---|---|
| Fee per contract | $0.65 per contract | $0.65 per contract |
| E*Trade, $0.50 at 30+ trades per quarter | J.P. Morgan Self-Directed, Call-in orders add $25 | |
| Exercise and assignment | Free | Free |
| Approval | NakedBest | Covered |
| E*Trade, Up to naked short options | J.P. Morgan Self-Directed, Covered calls and cash-secured puts | |
| 0DTE | YesBest | No |
| Index options (SPX) | YesBest | No |
| Options on futures | Yes | Not published |
| Spreads in an IRA | YesBest | No |
| Portfolio margin | Yes | Not published |
| Margin rate | 11.70% | Not published |
| Platforms | Web, Desktop, Mobile, APIBest | Web, Mobile |
| Paper trading | Yes | Not published |
| 24/7 support | YesBest | No |
| Countries | Eligibility list not published; non-US citizens may apply by mailed international application | US citizens and qualifying resident aliens only (no OFAC countries) |
| QuantWheel | Trade & SyncBest | Not connected |
| E*Trade, Reads the account and places the orders you approve | ||
| Offer |
Facts from each broker's fee schedule and options agreement, checked 8 October 2026. Best marks the lowest cost or the widest allowance in a row.
The two brokers
One paragraph each.E*Trade$0.65 per contract · free exercise · naked
E*Trade opens options accounts for residents of the United States, among the 9 countries this directory covers. It charges $0.65 per contract ($0.50 at 30+ trades per quarter). Exercise and assignment are free. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. QuantWheel syncs positions and trades from the account and suggests; with Trade & Sync the orders you approve go to the broker from QuantWheel.
J.P. Morgan Self-Directed$0.65 per contract · free exercise · covered
J.P. Morgan Self-Directed opens options accounts for residents of the United States only. It charges $0.65 per contract (Call-in orders add $25). Exercise and assignment are free. It approves up to covered calls and cash-secured puts. It trades on Web, Mobile. It is not connected to QuantWheel.
What each costs for the way you trade
A year of fees from each broker's published prices, checked 7 and 8 October 2026.
- E*Trade$0.71 a trade, 0.6% of your premium, fee not published
- $68 a year
- J.P. Morgan Self-Directed$0.91 a trade, 0.8% of your premium, fee not published
- $87 a year
E*Trade is $19 a year lower on the fees it publishes, and it does not publish every fee this strategy needs
Not counted because E*Trade does not publish them: clearing fee, options regulatory fee, live options quote price, inactivity fee. Not counted because J.P. Morgan Self-Directed does not publish them: clearing fee, options regulatory fee, SEC fee, FINRA trading activity fee, live options quote price, platform fee, inactivity fee.
Estimates from published fees. Your broker statement can differ, and brokers change fees. A fee a broker does not publish is never counted as $0.
Questions people ask
E*Trade vs J.P. Morgan Self-Directed