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Scottrade vs ChoiceTrade Review

Brandon Reinkensmeyer

Published by Brandon Reinkensmeyer


Thursday, June 1st, 2017

The StockBrokers.com 2017 Brokerage Review compares ChoiceTrade vs Scottrade. Compare ChoiceTrade and Scottrade trade commissions, fees and overall broker ratings by using the table below. Is ChoiceTrade or Scottrade a better online broker?

Looking at both brokers, first we will take a look at the commission rates for both placing regular stock and options trades. Scottrade charges more than ChoiceTrade for placing regular stock trades ($6.95 and $5.00, respectively). For options trading, Scottrade has a base fee of $6.95, and ChoiceTrade a base fee of $5.00. Contracts are pricier at Scottrade, costing $0.70 versus $0.50 at ChoiceTrade, a difference of $0.20 per contract. It should be noted that not every broker uses a flat rate stock trade fee structure, so it is important to read the full commission notes (head over to any online brokerage review page, then navigate to the "Commission Notes" section).

Alongside trade commissions, being able to trade the way you want is a must. Both ChoiceTrade and Scottrade support Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Scottrade offers its clients access to 13599 different mutual funds while ChoiceTrade has 500 available funds, a difference of 13,099.00. Commission free ETFs can also be a nice plus, which is a wash in this comparison as both ChoiceTrade and Scottrade offer 0 funds.

Last but not least, by breaking down important features that each broker offers, we can really help to separate the two brokers. ChoiceTrade and Scottrade both have virtual trading. For mobile trading, Scottrade offers the iPhone App, iPad App and Android App while ChoiceTrade offers the none of these. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts and Debit Cards are available to clients of Scottrade while ChoiceTrade offers clients none of these. On the whole, when it comes to tools, research, and trading on the go, Unfortunately, neither ChoiceTrade nor Scottrade received awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.

Overall, Scottrade takes the upper hand with 4.00 stars over ChoiceTrade's 2.00 stars.
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Overall
Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Ease of Use
Education
Order Execution
Banking
Stock Trade Fee (flat)
Options Base Fee
Options Per Contract Fee
Mutual Fund Trade Fee
Broker Assisted Trades Fee
Minimum Deposit
No Inactivity Fees
No Fee IRAs
Stock Trading
Options Trading
Mutual Funds
Forex Trading
Futures Trading
Desktop Platform (Windows)
Web Platform
Virtual Trading
Charting - Drawing Tools
Charting - Indicators / Studies
Option Chains - Total Columns
Watch Lists - Total Fields
iPhone App
iPad App
Android App
Android Tablet App
Apple Watch App
Trading - After-Hours
Trading - Mutual Funds
Trading - Conditional Orders
Trading - Simple Options
Trading - Complex Options
Commission Free ETFs
Mutual Funds (No Load)
Mutual Funds (Total)
# of Easy to Borrow Stocks
Retail Locations
Under $24,999.99
$25,000.00 to $49,999.99
$50,000.00 to $99,999.99
$100,000.00 to $249,999.99
$250,000.00 to $499,999.99
Above $1,000,000.00
$500,000.00 to $999,999.99
Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
No Fee Banking
Scottrade
Scottrade Review
 
4
3.5
3
4
4.5
4.5
3.5
4.5
4
3.5
4
 
$6.95
$6.95
$0.70
$17.00
$32.00
$2,500.00
Yes
Yes
 
Yes
Yes
Yes
No
No
 
Yes
Yes
Yes
12
67
28
236
 
Yes
Yes
Yes
No
No
 
Yes
No
No
Yes
No
 
0
7213
13599
3500
503
 
8.00%
7.25%
7.00%
6.50%
6.25%
5.25%
5.75%
 
Yes
Yes
No
Yes
No
No
ChoiceTrade
ChoiceTrade Review
 
2
4
3
1
1
3
0.5
0.5
1
1
0.5
 
$5.00
$5.00
$0.50
$25.00
$25.00
$0.00
No
No
 
Yes
Yes
Yes
No
No
 
No
Yes
Yes
0
20
11
4
 
No
No
No
No
No
 
No
No
No
No
No
 
0
235
500
2500
0
 
7.45%
7.45%
7.45%
7.45%
7.45%
7.45%
7.45%
 
No
No
No
No
No
No

All pricing data was obtained from a published web site as of 2/20/2017 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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