Personal Finance · head to head
E*TRADE vs Apple Pay
The short version
- Only Apple Pay has a free tier, so it costs nothing to try first.
- Each has a real cost: E*TRADE stock and ETF trades were $0 commission but options carried a $0.65 per-contract fee, broker-assisted trades added a $25 surcharge, and margin interest rates ranged from 12.70% to 13.20% depending on balance tier (Internet Archive capture, 3 January 2023); Apple Pay apple Pay works only in countries and regions that support contactless payments and is not available in all markets
- They diverge on capability: E*TRADE covers Advanced trading tools, Apple Pay covers Digital wallet.
Where they differ
Only the attributes on which E*TRADE and Apple Pay actually diverge.
Identical on both: user rating (Not yet rated), category (Personal Finance).
What each one covers
Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.
Only in E*TRADE
- Advanced trading tools
- Options and futures
- Research tools
- Mobile trading
- Wire transfers
- Web support
- Android support
Only in Apple Pay
- Digital wallet
- Secure payments
- Contactless transactions
- P2P money transfers
- Credit cards
- Debit cards
- WatchOS support
- MacOS support
Both cover
- Bank accounts
- IOS support
What people use each for
The jobs each tool is most often brought in to do.
E*TRADE
- Budget Managementnot Apple Pay
- Expense Trackingnot Apple Pay
- Investment Trackingnot Apple Pay
Apple Pay
- Contactless in store payment from iPhone and Apple Watchnot E*TRADE
- Paying in apps and on the web without entering card detailsnot E*TRADE
- Sending money between Apple users with Apple Cash and Tap to Cashnot E*TRADE
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
E*TRADE
- Stock and ETF trades were $0 commission but options carried a $0.65 per-contract fee, broker-assisted trades added a $25 surcharge, and margin interest rates ranged from 12.70% to 13.20% depending on balance tier (Internet Archive capture, 3 January 2023)
Apple Pay
- Apple Pay works only in countries and regions that support contactless payments and is not available in all markets
- Apple Cash is available only in the 50 United States, the District of Columbia and Puerto Rico
- Apple Cash Family accounts and Tap to Cash transactions are each capped at 2000 USD within a rolling seven day period
- Mac support requires a Touch ID equipped model
- A card works only if the issuing bank supports Apple Pay, and banks may charge their own overseas usage fees
Pricing, plan by plan
E*TRADE
On request- Stock & ETF TradingFree
- Commission-free trades
- Real-time quotes
- Advanced Trading$undefined/month
- All Stock & ETF features
- Options, futures
- Advanced tools
Apple Pay
Free- FreeFree
- Secure payments
- P2P transfers
- Transit passes
Which should you pick?
Choose E*TRADE if
- You need advanced trading tools.
- You work on Web, IOS, Android.
- You also want options and futures.
Choose Apple Pay if
- You need digital wallet.
- You want to start without paying.
- You work on IOS, WatchOS, MacOS.
- You also want secure payments.
Questions people ask
- Is E*TRADE or Apple Pay better?
- Neither clearly leads. E*TRADE starts at On request and Apple Pay at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, E*TRADE or Apple Pay?
- Apple Pay has a free tier; the other does not. Paid plans start at On request for E*TRADE and Free for Apple Pay.
- Does E*TRADE or Apple Pay run on more platforms?
- E*TRADE runs on Web, IOS, Android. Apple Pay runs on IOS, WatchOS, MacOS.
- Can I use Apple Pay for free?
- Yes. Apple Pay has a free tier, so you can try it without paying. E*TRADE starts at On request.
- What is E*TRADE best used for?
- E*TRADE is most often used for budget management, expense tracking, investment tracking. Of those, budget management and expense tracking are not what Apple Pay is typically brought in for.
- What can E*TRADE do that Apple Pay cannot?
- E*TRADE covers Advanced trading tools, Options and futures, Research tools, Mobile trading. Apple Pay covers Digital wallet, Secure payments, Contactless transactions, P2P money transfers. Both handle Bank accounts, IOS support.