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Personal Finance · head to head

E*TRADE vs Wally

E*TRADE logo

E*TRADE

Personal Finance

Express your investing style

From
On request
Rated
-
Full reviewWebsite
W

Wally

Personal Finance

Smart expense tracking for travel and daily life

From
Free
Rated
-
Full review

The short version

  • Only Wally 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); Wally the Internet Archive's capture of wally.me on 2 January 2019 stated the app is free ('Control your money seamlessly. And, it's free.'), and claimed rankings as the #1 finance app in 22 countries and top 10 in 52 countries at that time.
  • They diverge on capability: E*TRADE covers Advanced trading tools, Wally covers Receipt OCR scanning.

Where they differ

Only the attributes on which E*TRADE and Wally actually diverge.

Attributes where E*TRADE and Wally differ
AttributeE*TRADEWally
Starting priceOn requestFree
Pricing modeltransactionfreemium
Free tierNoYes
PlatformsWeb, IOS, AndroidIOS, Android
Founded19562009

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
  • Bank accounts
  • Wire transfers
  • Web support

Only in Wally

  • Receipt OCR scanning
  • Expense tracking
  • Receipt storage
  • Category management
  • Cloud storage

Both cover

  • IOS support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

E*TRADE

  • Budget Management
  • Expense Tracking
  • Investment Tracking

Wally

  • Budget Management
  • Expense Tracking
  • Investment Tracking

Both are used for budget management, expense tracking, investment tracking, on those jobs the choice comes down to price and fit rather than capability.

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)

Wally

  • The Internet Archive's capture of wally.me on 2 January 2019 stated the app is free ('Control your money seamlessly. And, it's free.'), and claimed rankings as the #1 finance app in 22 countries and top 10 in 52 countries at that time.

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

Wally

Free
  • FreeFree
    • Receipt scanning
    • Expense tracking
    • Basic reports
  • Premium$9.99/month
    • Advanced analytics
    • Unlimited storage
    • Cloud sync

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.
E*TRADE review

Choose Wally if

  • You need receipt ocr scanning.
  • You want to start without paying.
  • You work on IOS, Android.
  • You also want expense tracking.
Wally review

Questions people ask

Is E*TRADE or Wally better?
Neither clearly leads. E*TRADE starts at On request and Wally at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, E*TRADE or Wally?
Wally has a free tier; the other does not. Paid plans start at On request for E*TRADE and Free for Wally.
Does E*TRADE or Wally run on more platforms?
E*TRADE runs on Web, IOS, Android. Wally runs on IOS, Android.
Can I use Wally for free?
Yes. Wally 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.
What can E*TRADE do that Wally cannot?
E*TRADE covers Advanced trading tools, Options and futures, Research tools, Mobile trading. Wally covers Receipt OCR scanning, Expense tracking, Receipt storage, Category management. Both handle IOS support, Android support.
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