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.